Beijing Coin News Report:
If the rise of DOGE in 2021 heralded the emergence of MEME, then the explosion of MEME in 2024 signifies a shift in market investment logic. MEME has become a favored investment category among institutional investors and market funds, becoming a mainstream investment asset.
Originating from the Internet
MEME existed before blockchain, originating from the internet. Currently successful MEME projects mostly emerged after gaining popularity in internet social circles. Examples like Doge, SHIB, PEPE, etc., represent global communication and exchange through the internet, the roots of internet culture known by many as “grassroots culture”.
MEME permeates everything, with each MEME hiding a story behind it. Each story spreads globally through the internet, providing a sense of identity, a key reason for MEME’s popularity. MEME sprouts in places like social platforms, chat apps, forums, distinguishing itself from mainstream rigid online information.
MEME uses concise methods (short texts, innovative words, images, emojis, etc.) to express thoughts specific to internet scenarios. Its wide dissemination encourages even those unfamiliar with MEME to understand and participate, akin to viral transmission. Identity forms the value behind MEME and drives its price increases.
When MEME meets blockchain, rescuing the chaotic market
Blockchain can assign value to many intangibles, including MEME. Strictly speaking, BTC was also a kind of MEME in its early days. Following BTC’s popularity, the market saw chaos with numerous valueless altcoins, DOGE emerged to satirize this. DOGE’s initial surge post-2013 laid the foundation for MEME 1.0.
The altcoin boom of 2017 and market chaos (ICO frenzy) laid groundwork for DOGE’s resurgence, a crucial factor in its 2021 market acceptance. Even without Musk’s support, other public figures could have backed MEME. Dog-themed MEME projects like SHIB began gaining prominence, ushering MEME into the 2.0 era.
Similarly, in 2024’s surge, market chaos transformed into VC coin overvaluation and numerous “value” projects using PUA on users. MEME began thriving again. Mainstream market decline partly reflects retail investors’ resistance to VC coins and rug pulls, MEME’s fair distribution and price performance addressing pain points, naturally attracting attention, entering the 3.0 era.
MEME’s development history reveals its rise due to mainstream market inaction or missteps. Without sufficient power or funds to resist, retail investors turn to the opposite direction, fueled by enthusiasm and dissemination—MEME’s value and our basis for choosing MEME.
Clash of price and value, MEME’s potential features
Not all MEMEs hold investment value; like mainstream coins, the MEME track has its mix, and rug pulls are universal. Clear discernment of potential MEME projects is crucial for investors, learned from successful MEME projects.
DOGE
Mined early with a large supply, DOGE was cheap and suited internet tipping, supported across platforms like Facebook, Twitter, Twitch. It even sponsored sports events, aligning with foreign tipping culture. The community slogan “To The Moon” gained traction via Musk’s tweets, spreading various MEME images on Twitter.
SHIB
With a Shiba Inu theme, SHIB extended DOGE’s concept, launched via Fair Launch, emphasizing entertainment while developing towards becoming a “value coin”. Initiatives like DEX and BONE tokens, and a mainnet in ’23, support its token economy shift, exploring MEME to value coin.
PEPE
Based on the internet’s popular cartoon frog Pepe, PEPE issued a cryptocurrency, widely used on platforms like Telegram, Twitter, Facebook, Reddit, YouTube. PEPE tokens, besides liquidity pools, feature deflation and redistribution mechanisms, attracting investor and market-maker support.
WIF
WIF, a dog-themed MEME token on Solana, ranks third in successful dog-related tokens. Known for low cost and fast transfers, its creator’s zero balance ensures decentralization. Endorsed by celebrities like Hsaka, WIF’s speculative nature intensified price surges and investor attention.
PUFF
PUFF (PUFF The Dragon), on the Mantle chain, targets mETH communities, featuring a black and multicolored dragon theme. PUFF redefines meme narratives, where users forge potions to obtain PUFF, establishing AMM pools for free exchange. Traders like DCF GOD’s $1.5 million purchase highlighted PUFF’s appeal.
Commonalities in blazing MEMEs
From DOGE to PUFF, easy distribution and low barriers are key factors. From mining power to fair distribution, these enable low-cost community engagement, despite inevitable fairness limitations, anchoring MEME’s spread.
Additionally, MEME projects evolve from early internet cultural uses to broader value aspects. Initiatives like SHIB’s Swap, PEPE’s deflation, WIF’s low costs and decentralization, PUFF’s mETH core, show pure price speculation isn’t sufficient for popular MEME tokens; they need utility and user expectations.
Behind MEME success are celebrity/KOL endorsements and financial support, e.g., Musk’s Doge mentions, WIF’s community celeb backing, PEPE’s Binance listing, institutional endorsements. Star power crucially aids MEME projects.
MEME coin development goals
High market value MEME coins aren’t purely speculative. Economic models and use cases are crucial for long-term development. e.g., DOGE’s tipping and POW, SHIB’s Swap; trends strengthen from this year, e.g., PUFF enhancing application and token economies, approaching “value coins”.
PUFF’s mETH incentives drew $300M, making it Mantle’s top DeFi project, aiding Mantle’s ecosystem. PUFF plans GameFi elements, staking and gaming lures for big investors and institutions, indicating MEME projects’ long-term planning and empowerment, beyond hype and recklessness.
Extreme investment paths backfire; PUFF’s development shows early publicity’s quick fund and crowd gathering. Yet, sustained growth requires technical follow-through, attracting institutional and exchange interest. Retail profits foster MEME culture alignment, fostering a positive feedback loop, boosting MEME breakout.
