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Can Utility Like Defi Transform A Memecoin's Status? - Investment - Nairaland

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Can Utility Like Defi Transform A Memecoin's Status? by Mmaak7(m): 3:34pm On May 17
Hey guys, I'm inclined to believe that memecoins are generally fueled by community hype and even KOL or celebrity figures. The recent of these peculiar example I can remember is SLERF.

What seems to both catch my attention and puzzle me is when memecoin tend to have utility. Yesterday I saw Catamoto which I knew as a memecoin were now having DeFi functionalities and were even forging strategic partnership with big names like BlueZilla.

And Unlike others, they offer immediate access to tokens at the Token Generation Event with no lockup period enhancing transparency. And with the focus on innovation and investor trust, plus the listing of CATA on Bitget, it is evident that Catamoto is a meme coin worth keeping your eye on.

Nevertheless, my question is, do project like these stop being a memecoin? Can this be a DeFi platform with its memecoin or just a memecoin forever? What is the threshold? Are there others like this?

Cheers guys

Re: Can Utility Like Defi Transform A Memecoin's Status? by Cryptocreed: 9:02am On May 18
I understand your perspective. It's interesting to see how some projects, like Pepe, started as memes but grew into something bigger. CATA is another example, with its utility one can say it already a defi project and a listing on a well-known exchange (Bitget). This could mean CATA has potential, but only time will tell.

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