In a recent article for Cointelegraph Magazine, award-winning author and renowned Web3 leader, Jillian Godsill, spoke of memecoins and their appeal among "sensible, smart and intelligent people," and this is how she did it:

"Back in 1984, a U.K. television advertisement for Kit Kat chocolate bars was set in a music label’s office where a keen young band played their demo for a bored music executive. Afterward, they were served the famous chocolate bars and the manager said: 'You can’t sing, you can’t play, you look awful… you’ll go far.'"

And then she wrote:

"But don’t be fooled: Smart people are making a lot of money out of dumb memecoins — invariably at the expense of not-so-smart people without good timing."

She then quoted On Yavin, managing partner of the Cointelligence Fund and the Syndika co-founder and head of business, who had this to say about memecoins, making money with them and having a strategy for trading with them.

“Anyone who says they have any trading strategies with memecoins is talking absolute BS,” he says, adding the only reason memecoins have experienced a rush of interest this year is because of the bear market and crypto winter."

"People need to do something with their investments, and they cannot wait until the next bull run. These people are not interested in investing in the real projects that take years to build. And they’re all about flipping and all about making a quick buck. That’s the reason,” Yavin added.

Godsill, who has also published articles on TH3FUS3, continued her article mentioning that Ethereum Co-Founder Vitalik Buterin's best investment has been DOGE, in which he invested $25,000 and turned it into $4.3 million, so there is money to be made, but On Yavin warns that people must be extremely careful because there's also lots of money to be lost.

And before diving into On Yavin's spot-on social media post, I want to quote my son Miguel Olivier Acuña Carrillo, a London-based software and systems engineer with an MBA, who once told me that making money with meme coins was as likely as winning the lottery.

Yavin's LinkedIn post

In a recent LinkedIn post, On Yavin shared his thoughts on the rising interest in meme coins within the crypto community. Yavin's perspective, entirely his own, provides a critical look at these viral assets, often noted for their catchy branding and speculative appeal.

Yavin has been observing this trend closely, noting that while meme coins may generate excitement, their fundamental utility is often questionable. Unlike other cryptocurrencies with clear use cases, these assets primarily serve as vehicles for speculative trading, lacking intrinsic value beyond their appeal as investment opportunities.

He expresses concern over the exaggerated growth metrics often touted by meme coins. The ease with which these assets can be launched on decentralized exchanges (DEX) contributes to their rapid ascent, creating an illusion of profitability that, according to Yavin, is not sustainable in the long run.

The proliferation of meme coins has also exposed investors to significant risks, including pump-and-dump schemes and outright scams. Without a legitimate reason to exist beyond speculative trading, these assets are vulnerable to manipulation and exploitation.

Yavin advises potential investors to exercise caution and scrutiny. Key warning signs to watch for include large token supplies unlocked immediately after launch and founders retaining significant token reserves. These indicators often point to underlying issues that may undermine the asset's legitimacy, leading to a sharp decline in value as large supplies are dumped into the market.

Conclusions Worth Noting

While meme coins continue to attract attention, Yavin urges investors to approach them with a critical eye. By prioritizing due diligence and responsible investing practices, the crypto community can mitigate losses and focus on assets that demonstrate real value and potential.

This insightful commentary from On Yavin serves as a reminder of the importance of careful consideration in the fast-paced and often speculative world of cryptocurrency. His comment follows Franklin Templeton's recent note on meme coins. The trillion-dollar asset manager said meme coins such as Dogecoin “have no inherent value or utility” but have the potential for quick profits. So, that all said, it is best to be extremely careful and only invest based on your own decisions and due diligence.