A panel of cryptocurrency experts discussed the evolving role of memecoins, agreeing that these popular cryptocurrencies are unlikely to disappear anytime soon, but disagreeing on whether use cases should play a role in their growth.
Chris Newhouse, Research Director at Cumberland Labs, defended the potential use cases for memecoins, saying: “Being able to add utility to memecoins and monetize them, that’s an additional factor that you really can’t ignore.” He suggested that pairing humor with functionality could increase long-term viability.
However, Genia Mikhalchenko, Business Development Lead at Douro Labs, offered a different perspective, saying that the fact that memecoins have a use case is “ultra bearish” for these tokens.
When discussing potential competitors to established ecosystems, Dudas expressed optimism for Coinbase’s Base network but noted its current limitations. “Base doesn’t have enough tokens yet and needs to have a strong token ecosystem,” he said. Despite this, Dudas predicted that Base could eventually emerge as a rival chain in the memecoin space.
The panel concluded that memecoins will continue to be a staple of the crypto market due to their unique combination of humor, culture, and speculation.
*This is not investment advice.
