Written by Alex Xu
What I question is Murad’s over-packaging and glorification of the grand narrative of the meme cycle;
Murad is very popular recently, but it can only be said that each version has its own god. Murad entered the crypto industry not too early (2016), and his past investment experience is not successful (Adaptive Capital, founded in 2019, went bankrupt in 312 a year later), but this year he began to find his main task in this cycle: Meme narrative construction. As he said: "In early 24, I began to try to understand meme coins from the perspective of first principles."
In June, he began to share his meme trading experience and targets in the community. In the following three months, he gradually completed the famous list of meme targets that "will explode in the next super meme cycle". As the wealth code represented by SPX emerged from this list, combined with Murad's speech on the "super meme cycle", Murad has quietly become the new generation of Meme God.
Murad Key Points
In Murad’s “Super Meme Cycle” speech, he put forward some “seemingly sharp” views, which constitute the logic of the advent of the Meme super cycle:
There is an oversupply of VC-invested value coins, valuations are getting higher and higher, and price performance is not ideal.
Value coins are the product of VCs. Retail investors cannot share the profits and can only take over.
Since value coins have a relatively clear business model, there is a ceiling for their valuation
Whether it is a value coin or a meme token, they are all tables in a casino, so why not create a table yourself and play
Meme coins are purer than value coins because they only need to focus on "community" and "tokens", while value coins also need to take into account software development and operations.
Meme coins provide: fun, reduced loneliness, identity, hope, friendship, participation in cutting-edge culture, a sense of belonging, teamwork experience in the crypto industry, a stronger sense of participation, bringing resonance, emotional connection, a sense of mission and meaning, entertainment, and happiness. They even promote charity, collective artistic expression, collective imaginary reality, story creation, and legend building.
VCs don’t like meme coins because they threaten their core business: selling air
In addition, in another interview, Murad also gave the screening criteria for Meme:
Mid-market cap coins between $5 million and $200 million
On Solana and Ethereum
At least six months old
Yes, these criteria seem broad and arbitrary.
Look at it rationally and objectively
I have no intention of criticizing Murad’s criticism of VC coins. What he said is not wrong, but it is a bit cliché. Moreover, the market has already punished inferior VC projects through the decline in market value and the fact that a large number of projects went online and broke the issue price (the secondary market did not take over).
What I question is Murad’s over-packaging and glorification of the grand narrative of the meme cycle.
The so-called "create a table to play by yourself", retail investors do not actually have the ability to "build their own table and take money from the table".
The so-called meme coins provide identity, cutting-edge culture and a sense of belonging. In the Meme projects that have returned to zero, can investors still escape the grief of investment losses and continue to experience these beautiful emotional values?
I think it's bullshit.
Like most useless VC coins, the success of Meme was never created by the high-sounding "community culture", but came from the planning of market makers like Gobit, which recently paid tens of millions of dollars in fines to the FBI for market manipulation, and the close cooperation of KOLs like Murad who stood in front of the stage.
Who is more advanced than who?
