Author: Biteye core contributor Viee
Editor: Biteye core contributor Crush
The recent surge of MEME coins has been ferocious, with the new coin $Moodeng skyrocketing over 10,000x, and the new "Dog King" $Neiro pulling back over 50% again!
A well-known crypto KOL claimed in late September that his group members made nearly $1 million in profits on the new coin $Moodeng. Based on the trading screenshots, it seems this lucky person made 70 million RMB in 10 days, an astonishing return...
Biteye's veteran investors have analyzed the logic behind the rise of these two tokens, and answered how to find 10x, 100x projects, worth collecting!
01 The story of Neiro
The MEME king $Doge's Doge logo is a dog named KABOSU, the prototype of the first Shiba Inu owned by Astuko Sato, whose captivating expression went viral on the internet. However, KABOSU passed away on May 24th, and later his owner Astuko Sato adopted Neiro.
At the Bitcoin conference, after Neiro's picture appeared, multiple related tokens emerged on the chain, and ultimately the uppercase $NEIRO and lowercase $Neiro tokens on Ethereum remained.
The reasons for the rise of the market value of the lowercase $Neiro include:
1. The project team airdropped 4% of the tokens to Ethereum founder Vitalik Buterin (V God), who then sold them and donated the proceeds to charity, which brought heat to the project.
2. The community organized a donation campaign to list on Binance, raising the equivalent of $720,000 in tokens, demonstrating the community's unity.
3. Binance listed the spot trading of the lowercase $Neiro.
02 The story of Moodeng
Moodeng has high popularity on Web2, with many well-known brands like McDonald's and Microsoft having tweeted about the hippo before.
The Moodeng community has developed rapidly, especially on the Solana chain. Later, the $Moodeng on Ethereum gained attention again due to donations to V God and subsequent charitable donations by V God.
03 Reasons for the recent surge in popularity of Neiro and Moodeng
The rise in market value and popularity of the $Neiro and $Moodeng projects can be mainly attributed to two key factors:
1. V God selling tokens for charity (attracting attention): The project teams airdropped tokens to Ethereum founder Vitalik Buterin (V God), and V God subsequently donated the proceeds from selling the tokens to charity. This not only increased the project's exposure, but also earned it a positive image.
2. Community unity (manifested in donation campaigns): Through organizing donation campaigns, community members demonstrated their support and unity for the project. This collective action not only strengthened the community's cohesion, but also sent a positive signal to the outside world.
Of course, not every project that airdrops to V God can succeed, and for MEME coins, the most important factors are actually the community and the traffic of the MEME itself.
04 How to find a MEME coin that can 10x or 100x before it skyrockets
When selecting MEME coins, you need to ask yourself 3 questions to assess their potential:
1. Does the MEME have inherent traffic (a good narrative)?
In fact, many MEME prototypes may not necessarily originate from Web3, but rather the heat spills over from Web2 social media, so you can pay attention to hot topics on well-known internet social media, while also keeping an eye on discussions on Twitter and Farcaster.
2. Will the MEME be used multiple times by famous people or Official Twitters?
For example, the "Godfather of MEME coins" Musk and the "Shill King" Trump, or whether other celebrities will tweet about it.
Typical MEME coins related to Musk include DOGE, SHIB, FLOKI, TROLL, NUTS, etc. It can be said that every tweet from Musk could trigger a MEME coin frenzy.
Trump's influence in the crypto space is also gradually rising, and after the shooting incident at a campaign rally in Pennsylvania in July, MEME tokens associated with him saw a huge surge, such as the TRUMP token which soared 68% in 24 hours.
The rise of these tokens is all due to the heat brought by the celebrity effect, which in turn drives FOMO sentiment.
3. What is the community atmosphere and development status of the MEME?
The simplest and most direct way is to look at the number of members and atmosphere in communities like Telegram and Discord, or the discussion on Twitter.
05 Summary
Many people trade MEME coins by following Degen players, or trading from the perspective of Degen players, which may limit their view of MEME coin trading.
For example, artist @beeple previously posted a lot of Pepe-related art creations, and recently he has posted more than one creation related to hippos, and this was before the hippo project was launched. The reason he created these works is that he saw the traffic and heat. So if you only focus on the trading operations of Degen players, you are very likely to overlook other opportunities.
Soros said in his autobiography: The cognition of market participants is flawed, and we need to look at trading from different angles.
