A popular crypto trader is explaining why memecoins are suddenly super hot. He says it’s not because people believe in the technology or think they’ll be the future of finance. It’s because they’re unregulated and offer a chance to gamble without restrictions.
Freedom from the SEC
The trader, who goes by the name Jack Sparrow, says memecoins are like the “final frontier” of crypto. They’re not subject to the same rules as other crypto projects, which means there’s more freedom for traders to do their thing.
“Memecoins are one of the few places left where you can gamble without restrictions,” he says.
Déjà Vu?
He says this kind of thing has happened before. Remember DeFi and NFTs? Those were hot in the last cycle because they were new and unregulated.
“It was all hype and marketing back then, but it worked because regulators didn’t care,” he explains.
Get In While It’s Cheap
So, what’s the deal with memecoins? The trader says they’re cheap right now, but that will change soon. He thinks people will eventually move on to more serious projects.
“Right now, everyone’s ignoring the real innovation in crypto,” he says. “But this will change. When it does, memecoins will be more expensive. So, get in now while you can.”
The Future of Crypto
He believes that if the crypto movement is going to last, people need to focus on building the next generation of the internet. He says memecoins are a part of that, but they’re not the whole story.
“We need to focus on the real technology, not just the hype,” he says. “The future of crypto is going to be built on innovation, not just speculation.”
