Memecoins are generally not suitable for long term investments in crypto world. This is because they are highly speculative. Secondly, some of them have no real practical utility. Some memecoins are just mainly for fun with no real roadmap. It was because of this nature that major exchanges do not easily list them.
But the tide is changing with the current listing of Pepe on Robinhood and subsequently on coinbase- a major US crypto exchange. What prompted this change in narrative of listing these memecoins for these big exchanges was the winning of Donald Trump as the US president. President Trump promised during his campaign period a crypto friendly environment during his tenure and the sacking of the current Chair of SEC Gary Gensler. There was also a feeling that a National Bitcoin Reserve can be achieved or started under President Trump with the Republican control of the Senate. This hint was observed by the words of Republican Senator Cynthia Lummis of Wyoming when she said “she plans on having the lawmakers pass a bill to build a strategic Bitcoin reserve”
Much is expected to happen in crypto world under president Trump tenure if he follows through with keeping his promises on crypto. We will see more memecoins gaining traction and listing on major exchanges across the world. The listings has pushed the total memecoin market value to $116.5 billion, a 111.5% leap in the past week as per CoinMarketCap data.