Meme coins have become one of the heavily discussed narratives in this bull market cycle, attracting numerous retail investments and participation. Tens of thousands of new meme coins are listed on Dexscreener and pump.fun every day. One of the main reasons is that retail investors want to avoid taking over high-valued tokens in the hands of VCs. Coupled with the huge appreciation potential in the meme currency market, retail investors have the opportunity to obtain 10 times or even 100 times returns.
Many public chains have also promoted the development of meme currency projects in this bull market, using these meme coins to drive the transaction volume of public chains. From last year’s BRC-20 token $PEPE, to $BONK on the Solana chain, to $FLOKI on the BNB chain, and recently $BREET in the BASE ecosystem, the market value of each meme coin has reached at least one billion. dollar scale.
According to data from Dune Analytics, meme coins have become the third largest player in the narrative in the past six months, and their average trading volume has even exceeded other tracks several times, showing investors’ high enthusiasm for meme coins.
Why do all public chains also promote different meme coins?
In the past six months, different public chains have actively promoted their own meme coins. In the last bull market cycle, meme coins were regarded as high-risk investments and not recommended. However, in this bull market, meme coins have become a fairer narrative and are considered to be more attractive than other projects. A worthy investment choice for retail investors. The characteristic of Meme Coin is that it does not involve any selling pressure from venture investors and achieves a truly fair issuance (fair launch). Although this description sounds very interesting, I actually think that these statements are often just a tactic to attract user participation.
At present, there is a lack of new entrants in the cryptocurrency market. In order to sustain their own operations and development, major public chains use the high transaction volume and wealth creation myth of meme coins to attract user participation. The narrative of meme coins easily attracts people's attention, and because meme coins are actively traded, they have become a key element in supporting the public chain ecosystem. Public chains may not have NFTs or other projects with strong fundamentals, but they need meme coins and related trading platforms such as Swap and DEX to maintain trading activities and user participation. Therefore, promoting meme coins is not only a strategic means in public chain operations, but also a way to solve the problems of capital flow and user participation in the current market environment.
How to catch the next Meme Coin that has a critical hit
According to past habits, whether it is a Layer 1 or Layer 2 public chain, they will deploy meme coins in their own ecosystem. This is why we can see unique meme coins on different public chains.
Whether meme coins can attract a large number of users to participate and discuss is directly related to the cash flow and transaction volume of the public chain in which it is located. Therefore, when looking for the next meme coin that may explode, we should look for public chains with high transaction volume and lock-up volume, but the meme currency has not yet exploded.
I think the current TON public chain is full of deployment opportunities. Although there is Notcoin in TON, I think Notcoin does not have the characteristics of a meme currency compared to other meme coins. $TCAT or $TDOG may be more in line with the definition of a meme coin, and the DOGS project launched last week may also have the potential to become the next popular meme coin.
When we trade meme coins in the primary market, we need to be aware that the market is extremely volatile. We can use different tools to evaluate the trading volume and market value of the token before investing. Trading volume, liquidity, and market capitalization are three important considerations when choosing a meme coin. If you see that the data of some meme coins is lower than that of other meme coins, it means that the risk involved is very high. Therefore, when choosing a suitable meme coin, the above three data are also indicators worthy of our reference.
In addition, it is also important to participate in meme coin community activities, such as following their Twitter accounts and joining Telegram groups. The appeal of meme coins lies in community participation and storytelling. Understanding these can help us grasp the timing of investment. For example, in the upcoming US election, related meme coins may cause large price fluctuations due to different information about the election. Once we grasp the rhythm, it is also a way for us to profit from it.
All in all, while meme coins are risky, they can be a lot of fun to participate in. When participating for the first time, you should start with a small investment and experience the charm of meme coins before deciding whether to participate in depth.
