Editing Memecoin supercycle

**Memecoin supercycle** is a thesis, popularised by investor [[Murad]] Mahmudov, that memecoins would outperform other crypto assets for an extended period because of a lasting shift in how retail investors engage with crypto.[^1][^2]

## History
Murad presented "The Memecoin Supercycle" at TOKEN2049 Singapore in September 2024.[^3] The talk covered internal and external drivers, including overproduction of tokens, inflated altcoin valuations at listing and retail investors serving as exit liquidity for venture-backed tokens.[^3] He argued that meme tokens would beat Bitcoin and Ether by wide margins, driven by culture, community identity and virality, and compared memecoin communities to digital cults.[^2]

By October 2024 Cointelegraph described the theory as gaining traction among traders. Critics included Casa co-founder Jameson Lopp, who said such projects were "doomed to revert to their true value of zero", and Dogecoin Foundation founder Angel Versetti, who said the theory rests on investor delusion.[^1] [[ZachXBT]] alleged Murad held $24 million in memecoins, and Lookonchain reported he made $23.6 million in four months from [[SPX6900]].[^1]

## Aftermath
The memecoin market cap fell from about $100 billion on 25 December 2024 to about $35 billion on 19 December 2025, a 65% decline, and trading volume fell 72%, according to CoinMarketCap data cited by Cointelegraph; CoinGecko tied the 2024 rally partly to political narratives such as [[PolitiFi]].[^4] In July 2025 Cointelegraph reported that wallets labelled as Murad's held over $70 million in memecoins, led by more than $66 million of SPX profit, and that ZachXBT had accused him of making predictions "while controlling the supply".[^2] See also [[Trenches]] and [[KOL]].

## Timeline
- 2024-09: Murad presents "The Memecoin Supercycle" at TOKEN2049 Singapore[^3]
- 2025-12-19: memecoin market cap reaches its 2025 low of about $35 billion[^4]

## References
1. [The 'memecoin supercycle' theory is converting crypto unbelievers](https://cointelegraph.com/news/memecoin-supercycle-crypto-markets), Cointelegraph Magazine, 2024-10-17
2. [Influencer who coined 'memecoin supercycle' sits on $68M profit, data suggests](https://cointelegraph.com/news/murad-mahmudov-memecoin-supercycle-spx-holdings-controversy), Cointelegraph, 2025-07-28
3. [Murad Mahmudov - The Memecoin Supercycle - TOKEN2049 Singapore 2024](https://token2049.com/previous-sessions/murad-mahmudov---the-memecoin-supercycle---token2049-singapore-2024), TOKEN2049, 2024-09
4. [Memecoins Go From Christmas Cheer to Cold Reality, Sinking 65% in a Year](https://cointelegraph.com/news/memecoins-christmas-2025-yearly-decline), Cointelegraph, 2025-12-26