As Ravi Bakhai, who is building a meme-coin trading platform called Hype, explained, meme coins have essentially become a big, generalized betting market for determining how relevant anything is at any given time. For instance, Iggy Azalea’s MOTHER token literally put a price on her fame, and the rapper’s ability to draw an audience of crypto enthusiasts.
Source: https://www.coindesk.com/opinion/2024/06/10/in-defense-of-meme-coins/?utm_medium=referral&utm_source=rss&utm_campaign=headlines