As Ravi Bakhai, who is building a meme-coin trading platform called Hype, explained, meme coins have essentially become a big, generalized betting market for determining how relevant anything is at any given time. For instance, Iggy Azalea’s MOTHER token literally put a price on her fame, and the rapper’s ability to draw an audience of crypto enthusiasts.
![In Defense of Meme Coins In Defense of Meme Coins](https://www.coindesk.com/resizer/tO-zg8YOoKDgtfsB53_egndlOn8=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/KR3WHMEYJFDPNN22GVODTLVAYE.jpg)