- Murad Mahmudov, once a Bitcoin maximalist, now champions memecoins, believing they are primed for a market supercycle driven by community and cultural momentum.
- He categorizes memecoins into trading, investment, and belief-based types, emphasizing the latter as key to long-term growth and success.
- Murad highlights several cult-driven memecoins, like $SPX, $GIGA, and $MOG, predicting they could achieve valuations surpassing major crypto projects.
Murad, a key figure in the crypto world, has been vocal about his memecoin thesis, especially in light of the impressive performance of memecoins in 2024. And if recent trends are any indicator, it is clear his insights are worth paying attention to. So, let us take a deeper look at who Murad is and why his vision for this cycle might just reshape the crypto landscape.
Who is Murad?
Murad Mahmudov, once a dedicated Bitcoin maximalist, has shifted from preaching BTC dominance to advocating for a portfolio of meme coins. Formerly at Goldman Sachs, he entered crypto in 2016, gaining recognition for his deep market insights. Recently, he popularized the idea of a “meme coin supercycle,” sparking debate over speculation and transparency. Overall, his shift in focus has surprised many, but he remains a key voice in the space, shaping narratives and market sentiment.
Murad’s Thesis for Memecoins
At TOKEN2049 in Singapore, Murad presented his thesis on why memecoins are positioned for a major market cycle. He argues that between 2021 and 2024, the crypto market has changed—while token supply has exploded, investor capital remains limited. As a result, liquidity falls into areas that capture the most attention, and right now, he believes that is memecoins.
Murad believes memecoins are evolving from simple internet jokes into legitimate investment assets. Central to their appeal is their ability to bring people together, rallying around shared identities, common interests, and an overall belief system. He sees this structure as a powerful force, creating cult-like communities that are more than just investment groups.
This movement around memecoins forms the basis of his thesis for a “memecoin supercycle,” where he predicts that multiple memecoins could hit valuations of $100 billion or more. For comparison, Dogecoin peaked at around $90 billion in market value last cycle. So, in his view, we are about to see retail FOMO flood into the memecoin market, with multiple memecoins surpassing valuations of established projects, driven by the growing power of their communities and cultural momentum.
Murad’s Vision and Strategy
Murad’s vision of memecoins is shaped by their different roles in the market. This includes:
- Trading Memecoins – Short-term, high-risk assets fueled by hype, speculation, and price fluctuations driven by pumps.
- Investment Memecoins – Medium-term plays, fueled by market trends and narratives, held for potential gains.
- Belief-based Memecoins – Cult-like communities around shared values, creating passionate, long-term engagement and loyalty.
He highlights that to succeed in this cycle, it is crucial to focus on belief-based meme coins, which create strong, loyal communities that can drive long-term growth and cultural momentum. He suggests that investors who spot these cult-like movements early, buy during dips, and hold for months are most likely to win in this market cycle.
Murad’s Picks
Based on his strategy, Murad identifies several meme coin projects that fit the “cult” category, including:
- SPX6900 ($SPX) – Inspired by the S&P500 index meme, this coin is built on Ethereum, blending finance with meme culture.
- GigaChad ($GIGA) – Based on the “GigaChad” meme, which represents an ultra-masculine, confident internet persona, this coin thrives on Solana.
- Mog Coin ($MOG) – Drawn from the “Mogging” meme, symbolizing dominance and the concept of outperforming others.
- Apu Apustaja ($APU) – Derived from the ironic “Apu Apustaja” meme, which humorously represents an internet subculture of exaggerated simplicity.
- Popcat ($POPCAT) – Inspired by the viral “Popcat” meme, featuring a cat with an open mouth, symbolizing internet humor and randomness.
Final Thoughts
In conclusion, Murad’s “Memecoin Supercycle” thesis offers an interesting take on the current state of the crypto market. If this plays out, we could be on the brink of a radical shift where meme coins—not just Dogecoin—become a driving force in the market. Needless to say, it is easy to dismiss memecoins as mere trends, but if Murad’s vision comes to life, these memecoins could create a new wave of millionaires, transforming the crypto landscape and redefining what makes an asset valuable in this space.
