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'DOGE much larger than D-List celeb memecoins:' MOTHER, DADDY divide the community – AMBCrypto News

  • Celebrity meme coins like $MOTHER and $DADDY have faced volatility despite community support.
  • Superstate’s Robert Leshner acknowledged the cultural impact of meme coins like Dogecoin.

There has been a lively social media debate surrounding two popular meme coins: Mother Iggy [MOTHER] Daddy Tate [DADDY].

Despite the recent decline in market value, Dad It experienced a decline of 9.08%. mother Despite a 15.54% drop, interest and support for these coins among followers has not waned.

However, many believe that celebrity meme coins have no lasting value and are simply a waste of money. Expressing this sentiment, user X (formerly of Twitter) said: Legend Tell X,

“Stop wasting your money on meme coins. 99.9% of meme coins go to 0, especially the celebrity ones. It happens every cycle. Don’t be stupid. Invest in the big coins and let them ride it out.”

Dogecoin, the king of meme coins?

In a recent episode of the “Unchained” podcast, Robert LeshnerThe CEO and co-founder of Superstate shared a nuanced perspective that contrasts with Dogecoin. [DOGE] Along with other celebrity meme coins.

Leshner noted that Dogecoin has established itself as unique by mocking existing cryptocurrencies like Bitcoin. [BTC] Litecoin [LTC]In the world of cryptocurrency, it has demonstrated remarkable longevity and cultural impact.

He added,

“So I think Dogecoin has a much more visible presence on the social Wikipedia of cryptocurrencies than the completely continuous and non-unique listings of well-known coins on the C and D lists.”

But he still believes other meme coins linked to celebrities could generate attention and speculative interest in the market.

Ethereum vs. Solana meme

According to a recent guidepost: Coin GeckoSolana [SOL] The network surpassed Ethereum [ETH] A network that hosts more celebrity meme coins.

However, despite the growing popularity of the Solanameme Coin, a recent survey by Web3 Platforms found that trust Admitted,

“While Solana has seen a recent surge in meme coin activity, Ethereum is the original battleground for the most well-known and influential meme tokens. These pioneers paved the way for the meme coin phenomenon and remain major players today.”

This sentiment was further confirmed by AMBCrypto’s analysis of Santiment data, which revealed that Ethereum’s social dominance dwarfs Solana.

Santiment

Source: Santiment

Despite the significant rise, the current meme coin market appears to lack intrinsic value and is primarily driven by competition and speculative trading.

Ethereum co-founder shares similar views Vitalik Buterin What he said sums it up best:

“I’m pretty frustrated with this election cycle’s celebrity experiment so far. As for financialization as a means to an end, I can respect that when the end is a worthy one (healthcare, open source software, art, etc.).”

Next: Will Ethereum continue to thrive as self-custody increases and whales sell off?

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