In this episode of Unchained, memecoin traders Ansem and Kelxyz unpack everything about memecoins, discussing what makes them valuable and how they evaluate their investment potential. They also address the criticisms and controversies surrounding them, including racism and sexism. (They have a surprising reaction to the latter.) Ansem and Kel argue that memecoins have substance and value, largely due to their popularity and the attention they receive on the internet.

They also discuss the importance of distribution and virality in the success of a memecoin, how the chain any coin is on affects its value, and give their opinions on Runes vs. BRC-20s vs. Solana and Ethereum.

Plus, they talk about their wildest memecoin stories (think: Dogwifhat) and provide their insights on what they think memecoins will become in the future.

Show highlights:

Ansem’s and Kel’s investment theses around memecoins
How Ansem and Kel got into trading memecoins and how they evaluate their potential
Why the coin distribution matters and whether tokenomics is important with memecoins
How to discern between memecoins with genuine vs. fake interest
How memecoins differ across blockchains such as Solana, Ethereum, and Bitcoin
Ansem and Kel’s responses to the criticisms of memecoins
Whether and how memecoins could become safer for users
Kel and Ansem’s surprising reaction to racist and sexist memecoins
Ansem's story on WIF and how a female friend of his fueled its popularity
Whether Bitcoin is “the original memecoin" and how they define memecoin
The future of memecoins and how they believe all memes will become coins

Thank you to our sponsors!

Guests:

Ansem
Kelxyz

Links

Culture:

What else could memecoins be? by Vitalik Buterin
How bad policy favors memes over matter by Chris Dixon
Cointelegraph: Meme coins: Betrayal of crypto’s ideals… or its true purpose?
CoinDesk: The Memecoin Grift and How It Threatens Ethereum Culture

Investment:

CoinGecko: Top Crypto Narratives Gained 39% to 1313% in Q1 2024
Messari: Navigating Memecoin Mania
Kelxyz investment strategy
Decrypt: Crypto Influencer Ansem Explains His Meme Coin Thesis and Why He’s Bullish on Bitcoin Runes
Unchained: What Is Dogwifhat (WIF) and Why Is It Up so Much?

Safer memecoins

Unchained: Half of Solana Presale Tokens Rolled Out Between November and February Were Malicious: Blockaid Study
Cointelegraph: 1 in 6 new Base meme coins are scams, 91% have vulnerabilities
Andre Conje’s proposal

Racist memecoins

Unchained: Offensive Memecoins Proliferate on Solana, Sparking Debate
Crypto.news: Ethereum's Buterin slams Solana's racist meme coins, urges better projects

Learn more about your ad choices. Visit megaphone.fm/adchoices

Acts Week 2 with David Platt

She Reads Truth Podcast

Philip, the Ethiopian Eunuch, and Divine Orchestration

The AI-powered Podcast Player