The memecoin market is riding a wave of renewed interest. This rise is supported by platforms like Pump.fun and accessible blockchain infrastructure, making it easier than ever for developers and users to join the space.
Murad Mahmudov, once a staunch Bitcoin maximalist, has also shifted his focus to memecoins, now seeing them as cultural assets with the potential to dominate the attention and returns in crypto.
He believes memecoins will lead the 2025 narrative. Murad also predicts that around 20 select projects could reach billion-dollar valuations, particularly those with a movement-based loyal following.
Murad’s memecoins are thus his top picks – SPX6900 (SPX), GigaChad (GIGA), Mog Coin (MOG), Apu Apustaja (APU), and Popcat (POPCAT) coins – which he considers will become some of the biggest winners in the upcoming bull market. Let’s see what else in this list and why.
Who is Murad Mahmudov: From Bitcoin maximalist to memecoin evangelist
Murad Mahmudov is a prominent voice in the cryptocurrency world with a strong track record and a unique perspective.
He started as a Bitcoin advocate during its early days and later co-founded Adaptive Capital, a hedge fund specializing in data-driven Bitcoin investments. His background includes a Princeton education and early career roles at Glencore and Goldman Sachs, showing his experience in both traditional and digital finance.
Over time, Murad shifted his focus to memecoins and has been actively sharing his insights with over 550,000 followers on X (@MustStopMurad). His fresh perspective on memes in crypto has resonated widely, reshaping how people view their value and cultural significance.
Murad’s memecoin thesis
Murad Mahmudov’s thesis, shared in his speech at Token 2049, frames memecoins as more than speculative assets.
Murad uses the term "tokenized vessels of faith," likening memecoins to a cultural phenomenon where people join to feel a sense of belonging and purpose, much like cult-like movements.
Source: YouTube
He highlights that memes' cult-like following is not a new idea: crypto has always been about people rallying around ideas. Memecoins are just the latest and purest form of this trend.
He then suggests that memecoins are becoming key drivers of the crypto market and are entering what he calls the "memecoin supercycle."
Why memecoins will dominate the next crypto cycle, Murad’s take
The crypto market typically follows a recurring 4-year pattern tied to Bitcoin’s halving events.
Historically, it has marked the start of a new bullish cycle for the broader crypto market, associated with a dominant trend or narrative: from ICOs to DeFi and NFTs.
Murad believes that memecoins will be the dominant narrative in the 2025 bull market, similar to how DeFi gained traction in 2019-2020 before exploding during 2021.
Source: X
Here are some arguments he makes as to why we are likely to see memecoins as a new trend in 2025:
Financial appeal: In a world facing inflation and growing income gaps, people are less focused on long-term investments and more drawn to quick, exciting gains. Memecoins offer that thrill.
Fair game dynamics: Unlike many cryptocurrencies backed by insider deals or early venture capital funding, memecoins gain their value from community support. Investors feel empowered because they have the same opportunities to profit as others.
Momentum effect: Stories of investors making life-changing profits spread quickly on social media and by word of mouth. This creates a bandwagon effect, attracting new participants and attention.
Fun factor: Memecoins aren’t just about profits – they offer fun, entertainment, and a sense of belonging to a community. This combination appeals strongly to retail investors.
Simplicity: Younger generations, raised on memes and social media, find memecoins relatable and easier to understand than complex blockchains trends like restaking, DePIN, or rollups. This makes them better positioned to attract new users than other crypto sectors.
Murad also points out that many altcoins are no different from memes in how they generate attention and capital inflow. Memecoins, however, are potentially more successful because they’re relatable, fun, and simple – qualities that tech-heavy altcoins often lack.
Murad Mahmudov’s memecoin list
Murad Mahmudov’s approach to memecoins focuses on identifying the rare ones that can endure across multiple market cycles, similar to Dogecoin and Shiba Inu. While he believes that most memecoins will lose their value, a select few have the potential to survive and thrive.
Source: X
Murad’s formula for memecoin success
Murad’s strategy revolves around identifying "cult-like" communities with long-term staying power.
Source: X
He believes that the following factors are defining a meme project’s success:
Time tested: Coins that have been live for at least 6 months, proving they’ve passed the initial hype and survived early volatility.
Strong metrics: He examines on-chain data for organic growth, not manipulated by bots or whales, even distribution, and commitment of ‘hodlers’.
Community focus: Memecoins that have a cult-like following of true believers.
Cultural relevance: The meme must resonate emotionally with people, whether through humor, relatability, or broader cultural trends.
Mahmudov is trying to identify these assets that can achieve long-term relevance and growth
Murad’s top 4 picks for 2025
Based on his formula, Murad believes these coins have the strongest potential to dominate the next crypto bull cycle:
| Memecoin | Blockchain | Predicted Market Cap | Description | Biggest strength |
|---|---|---|---|---|
| SPX6900 ($SPX) | Ethereum | $100B | Crypto asset positioned to challenge traditional stock market dynamics | Narrative resonating deeply with retail investors |
| GigaChad ($GIGA) | Solana | $50B | Project focused on self-improvement, empowerment, and positive masculinity themes | A highly motivational and relatable message |
| Apu Apustaja ($APU) | Ethereum | $30B | Coin based on the internet’s beloved frog meme | An emotionally connected and loyal following |
| Popcat ($POPCAT) | Solana | $25B | A meme coin representing internet cat culture | A proven meme trend |
His curated list of promising tokens also includes:
- Mog Coin (MOG): A culture-driven coin with SHIB-like potential.
- HarryPotterObamaSonic10Inu (BITCOIN): A meme coin that thrives on humor and the blending of multiple pop culture references
- Retardio (RETARDIO): Focuses on humor and anti-woke themes.
- Lock In (LOCKIN): Promotes success and positivity, appealing to those inspired by “winning” culture.
- Mini (MINI): A cat coin with media appeal.
- American Coin (USA): A patriotic coin tied to the U.S. economy.
With the right narrative and community, Murad believes these memecoins will achieve massive success, similar to DOGE and SHIB, and even potentially outperform the majority of the market.
Conclusion: Murad’s prediction, risks, and criticism
Murad Mahmudov's recommendations and predictions for meme coins have drawn considerable attention. Even more so, he’s preaching the change in the perception of memes: they aren’t just financial instruments, they are social and emotional experiences.
He predicts that memecoins will not only onboard the most users in the next cycle but also outperform other sectors, driven by community engagement, simplified narratives, and social media virality.
While Murad’s insights may offer valuable market context, some analysts have questioned the sustainability of these predictions. SPX6900 has shown remarkable growth, and Popcat has seen significant price action recently, but these tokens also face high volatility and profit-taking risks. Additionally, Murad’s personal financial stakes in these coins (as suggested by wallet leaks) have led to criticisms about potential bias.
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