Franklin Templeton Says Meme Coins Could Be Used to Generate Fast Gains

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American multinational investment firm Franklin Templeton has recently released an investor note discussing the concept of memecoins.

The firm believes that while memecoins do not possess any intrinsic value or practical use, they have the potential to generate rapid gains.

The bulletin, titled “The Value Between Meme Coins and Their Native Networks,” compares the performance of memecoins to that of viral memes on the internet and notes that their popularity has risen significantly in the past year due to their unique nature.

Franklin Templeton further highlights that memecoins require minimal technical knowledge, have low transaction fees, and offer the possibility of quick profits. However, the firm also acknowledges that memecoins are highly volatile in terms of price.

The first and most prominent memecoin, Dogecoin, is mentioned in the note as a pioneer in this field, spawning the creation of numerous other memecoins.