The CEO of Galaxy Digital believes that memecoins have more to offer than laughs

Share this article

Memecoins, often inspired by internet jokes or cultural phenomena, have been dismissed by many industry experts for their perceived lack of usefulness. However, Mike Novogratz, CEO of Galaxy Digital, believes that these meme tokens have a strong narrative that captures investors’ attention beyond just humor.

“Memecoins – whether you are a fan or not – have become a cornerstone of the cryptocurrency economy. In today’s market, they represent one of the most powerful narratives around,” Novogratz said in a recent article send on

In an accompanying video, Novogratz also outlined two potential ways to profit from memecoins: one is to choose memes with humor, and the second is to create memes.

He suggests that successful investors need a “quirky sense of humor” to predict which memes will resonate with people and become successful investments.

The second way is for memecoin creators. Novogratz said meme creators could make big profits by launching their own memecoins.

He also mentioned his son-in-law’s success with Dogwifhat and Doge. Initially skeptical about investing in memecoins, Novogratz said he was surprised by his son-in-law’s success simply holding these memecoins, suggesting that a well-crafted meme can result in financial gain.

“You know Dogwifhat, the first time you see him you laugh, now he’s worth $3 billion,” Novogratz said.

Novogratz’s bullish stance on memecoins faces resistance from the industry. Commenting on Novogratz’s post, Charlie Silver, CEO of Permission.io, said that memecoins are “just stupid casino chips.” Silver believes that the true foundation of the crypto economy has yet to be built.

Novogratz’s statements come amid the ongoing controversy over celebrity memecoins. Many crypto figures have publicly shared their opinions on the movement.

In particular, Ethereum co-founder Vitalik Buterin criticized recent celebrity memecoins, such as Mother Iggy (MOTHER) by Iggy Azalea. He argued that projects should prioritize social value and user engagement over celebrity and early investor enrichment.

Despite skepticism from some industry leaders, memecoins like Daddy Tate (DADDY) have shown notable performance, up 218% in the past 24 hours. However, analysts have recently warned about potential insider trading risks associated with both MOTHER AND DAD.

Share this article

The information on or accessed through this website is obtained from independent sources that we believe to be accurate and reliable, but Decentral Media, Inc. makes no representations or warranties as to the timeliness, completeness, or accuracy of any information on or accessed via this website. . Decentral Media, Inc. is not an investment advisor. We do not provide personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become obsolete or may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

Crypto Briefing can enrich articles with AI-generated content created by Crypto Briefing’s proprietary AI platform. We use AI as a tool to provide fast, valuable and actionable insights without losing the insight and oversight of native cryptocurrency experts. All AI-augmented content is carefully reviewed, including for factual accuracy, by our editors and writers, and we always draw from multiple primary and secondary sources, when available, to create our stories and articles.

You should never make an investment decision about an ICO, IEO or other investment based on the information on this website and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult with a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analysis or reporting on ICOs, IEOs, cryptocurrency, currency, tokenized sales, securities or commodities.

See full terms and conditions.

Fuente