On-chain analyst Will Clemente explains why memecoins have outperformed most altcoins in this crypto cycle.
High Upside Potential
Clemente believes traders are flocking to memecoins because they offer the potential for huge returns. While altcoins may have solid fundamentals, their value proposition can be complex and difficult to understand.
Lack of Sophistication
Traders are also drawn to memecoins because they don’t require the same level of skill and knowledge as trading more complex assets like Bitcoin. Clemente compares it to playing poker with experienced players versus people at your own skill level.
Conclusion
According to Clemente, the combination of high upside potential and lower skill requirements is driving the popularity of memecoins among traders looking for speculative opportunities.
