@tldr

The comparison doesn’t go far enough: Memecoins are this cycle’s NFTs, but worse. Early on in NFTs, you could use a unique image to acquire status and distribution on social networks: https://farcaster.xyz/tldr/0xeffb0c9b Memecoins don’t have any grounding to offer, and this is a large part of why they only retain a small % of people over time (less than 1% of people who tried)

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