Polygon co-founder Sandeep Nailwal is mulling likely support for memecoins amidst a recent rally and the growing popularity of the asset class.
Polygon Co-Founder Intrigued by Memecoin Frenzy
In the last few weeks, memecoins have gained traction with a sudden positive momentum that has made many of them reach unprecedentedly high price levels. Nailwal took to the X app to probe this recent frenzy amongst memecoin:
“Can memecoins be thought of as fractionalized 1/1 PFP collections?” He asked rhetorically.
The Polygon co-founder’s goal is to understand if there is a larger phenomenon or big picture for the current memecoin rally or if it’s just the same memecoin mania as before which usually goes and returns after about 5-6 months. The Polygon founder pointed out that whenever such a rally happens, it always has a particular coin at the center.
Sometimes it is Dogecoin (DOGE), Shiba Inu (SHIB), Pepecoin (PEPE), or even Memecoin (MEME). It is worth noting that the last memecoi
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