Author: Cookie, BlockBeats
Crypto is a rapidly changing market. It can be said that if you don’t compete in the market for a month or even a week, there will be an exaggerated generation gap in your understanding of the market.
Meme Token is fun and wild, but I think this feeling is becoming, or has become, a generation gap. What remains unchanged is that we can still witness "seeing him build a tall building, seeing him entertain guests, and seeing his building collapse" again and again within 24 hours or even shorter. What has changed is that the fun and relaxation are gradually disappearing, and the tense and naked fighting is becoming more and more obvious.
My view on "meme"
Two months ago, I met with a friend who I have known for a long time and who specializes in meme tokens. Meme tokens were the beginning of his entry into Crypto, and it is almost the only track he is interested in and degen in the Crypto market.
“I just think this thing is fun, and it’s something that young people of our generation play with. Meme Token, or if you remove the word Token, this thing is wild and unrealistic, and it’s not well understood in reality, but in the Crypto market, everyone recognizes this thing, this culture. When I found that my sense of smell or aesthetics for these contents could make money, I thought meme Token was really cool and fun.”
After he finished speaking, he and I drank a glass of wine. As the alcohol spread through my body, my mind quickly flashed with those meme tokens that once made me excited, such as $PEOPLE, which was used to take a photo of the US Constitution, the official website highlighting an abstract "Harry Potter", mfer's $MFER, $MOG's glasses...
These are all things that can be discussed in a separate article. Content quality, community activity, fission techniques, these "logics" of the meme token are all fading.
As an NFT player, the current meme tokens give me a sense of déjà vu. The earliest meme tokens, such as $DOGE, correspond to the earliest stage of NFT, when just one picture could make everyone excited. Then came the emergence of cats, dogs, zoos, and more themes, corresponding to the stage when PFP projects with different styles could produce a blue chip. Next, all kinds of styles were basically developed, and everyone began to compare the quality of pictures in the homogenization stage.
Finally, put everything aside and only one word remains.
"and"
Solana, the most popular "crypto casino" at present, has deployed more than 640,000 meme tokens since April 1, and this is only the data from the beginning of July. In other words, in 3 months, an average of more than 7,000 new meme tokens appeared on Solana every day.
"Cyber gamblers" send a string of "addresses" consisting of English and numbers on various chat software every day. In addition to "CA", which is the Token contract address we are familiar with, there are also "smart money" and "dev".
"Cabal", a popular term among crypto players, means "conspiracy group", which includes people who hide behind the scenes to manipulate the market, as well as influential people who have the ability to shill and secretly form a group to shill. On-chain players who have been waiting for fresh blood to enter but cannot get it are struggling in the hell-difficulty PvP mode. They are not afraid of losing to other players, but they are more afraid of no one to compete with them.
Although retail investors hate the “Cabal” very much, they can only passively join the game and passively “follow”. The “dev” or the well-prepared “dealer” starts the game, the KOLs organize the game, and retail investors join the game.
Only if you "follow" quickly can you run fast and have a large profit margin. Only if you "follow" more can you increase the probability of winning the first prize and buying the "large MC memecoin" every day.
Many people miss the atmosphere of content creation in Chinese and even the entire Crypto community a few years ago, saying that there was a lot of "dry goods" in the past, and there were many unique insights into different tracks and tokens that could be absorbed and really converted into profits. In fact, what we miss is the bull market, because at least until now, the "logic" has failed one after another, and this is true for the meme token track as well as other tracks.
Although I don’t think we have entered a bear market, it is definitely not the right time to embrace the future. Moreover, what can we embrace in the fog?
Conclusion
I am not making a vehement attack on the naked start-up-organization-entry model. It's just that when such a model becomes almost the only active way of playing in the market and becomes the helpless way of survival for retail investors, I miss the past when one could make money by discovering and degenerating interesting things.
Naked PvP is just the result of insufficient incremental players on the chain, and I am looking forward to the dawn of the meme.
