Why Memecoins Were the Most Profitable Crypto Exchange of 2024: Ansem and Kelxyz – Ep. 641

Memecoins have been the most profitable investment of the year, and these traders believe they still have a lot of potential.

Published on May 7, 2024 at 12:00 EST.

Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Covered, Addicted to podcasts, Pocket castings, Casting box, Google Podcasts, Amazon Musicor on your favorite podcast platform.

In this episode of Unchained, memecoin traders Ansem and Kelxyz reveal all about memecoins, discussing what makes them valuable and how they evaluate their investment potential. They also address the criticism 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 because of 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 a coin is on affects its value, and give their thoughts on Runes vs. BRC-20s against Solana and Ethereum.

Plus, they talk about their craziest memecoin stories (think: Dogwifhat) and give their views on what they think memecoins will become in the future.

Show highlights:

• Ansem and Kel’s investment theses around memecoins
• How Ansem and Kel got into trading memecoins and how they assess their potential
• Why coin distribution matters and whether tokenomics matters with memecoins
• How to distinguish memecoins with real or fake interest
• How memecoins differ across blockchains like Solana, Ethereum, and Bitcoin
• Ansem and Kel’s responses to memecoin criticism
• If and how memecoins could become safer for users
• Kel and Ansem’s surprising reaction to racist and sexist memecoins
• Ansem’s WIF story and how one of his friends fueled his popularity
• If Bitcoin is “the original memecoin” and how they define memecoin
• The future of memecoins and how they think all memes will become coins

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