The trillion-dollar asset manager said memecoins such as Dogecoin “have no inherent value or utility” but have the potential for quick profits.
American multinational investment firm Franklin Templeton has published an investor note on memecoins which says while they “have no inherent value or utility,” such tokens could potentially make for fast gains.
The March 14 bulletin titled “The Value Between Meme Coins and Their Native Networks” noted that memecoin price-performance was “akin to a meme going viral on the internet,” and they’ve gained popularity in the last year due to their “unique nature.”
The firm noted that memecoins require little technical knowledge, have low fees compared to other cryptocurrencies, and have the potential for quick profits but have a lot of price volatility.
