Crypto Analyst Murad Mahmudov Predicts a 'Meme Coin Super Cycle' That Could Reshape the Cryptocurrency Landscape in the Coming Years

In a recent podcast, Mahmudov shared his unconventional thesis on why meme coins are poised to outperform traditional crypto assets.

Crypto analyst Murad Mahmudov has predicted a “meme coin super cycle” that could reshape the cryptocurrency landscape in the coming years.

In a recent podcast appearance, Mahmudov shared his unconventional thesis on why meme coins are poised to outperform traditional crypto assets. He argues that the crypto industry is primarily “an asset production industry and a speculation industry” rather than a technology-first sector.

“The industry is not about making Zoom calls and building products. The industry is about producing assets and speculating on them. And then later on, if you have time, you can build products and attach them to these tokens,” Mahmudov said.

The analyst believes that meme coins are not just a passing trend but represent a fundamental shift in how retail investors engage with crypto. He states, “I am a community maximalist,” emphasizing the importance of strong, passionate communities in driving token value.

Mahmudov introduces the concept of “cults” in crypto, defining them as “really really strong communities.” He explains, “If you don’t make poor people rich or if you don’t make middle class people richer, you don’t have a community.”

According to Mahmudov, Defi can exist whether a token is attached to it or not, but the “best products in crypto require a token but the best token in crypto does not require a product.” He cited examples like Pump.fun, Polymarket, which do not have a token, while the best performers are meme coins like Pepe, Dogwifhat, Popcat, which don’t have a product.

He also pointed out that “every single listing on Binance” this year is down except for two, both related to meme coins. Binance listed around 50 crypto coins this year, but only two are trading higher. One of which is Dogwifhat and other is Jupiter JUP/USD which uses meme coin infrastructure.

Mahmudov also revealed that out of the 9-10 altcoins he was holding, he had a small bag of Dogecoin in 2017 which he sold in 2018. Then again, he traded DOGE in 2021, when it was a super spike season for dog coins. However, from early 2024, he started to make sense of meme coins like from what are first principles rather than looking only at trading momentum.

Looking ahead, Mahmudov predicts a transition “from jokes to serious memes” and the emergence of “movement coins” that represent abstract concepts and philosophies. He states, “We’re going to see meme coins representing everything.”

Despite his bullish outlook on meme coins, Mahmudov warns that “99% of people in the meme coin industry are scammers” and advises investors to seek out projects with organic, decentralized communities.

The influence of meme coins is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

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