The crypto market has rebounded against the trend, and the MEME coin craze is still ongoing. Under the impact of a series of MEME coin projects with a wealth-creating effect, countless crypto players have rushed into the "PVP battle", and various MEME coin projects with different tickers and symbols have spread to a wider range of the market in an increasingly "abstract" and cult-like atmosphere - this has not only spawned a lot of "frenzied single-calling" by crypto KOLs, but has also re-focused market attention on the latest developments of various MEME coin projects, especially the "dump and do charity" behavior of Ethereum co-founder Vitalik, which to some extent has also added fuel to the "MEME coin fever".
Odaily Planet Daily will summarize and sort out some representative views in this article for readers' reference.
Vitalik: 'Thank you MEME coins for giving me the opportunity to do charity'
On October 7, Ethereum co-founder Vitalik Buterin posted that "I am very grateful to those MEME coin projects that have directly donated part of their token supply to charitable organizations. (For example, I saw that Ebull donated a large amount of tokens to multiple charities last month.)
Any tokens sent to me will also be donated to charity (thank you Moodeng Hippo MEME coin project, the 10 billion tokens I received today will be donated to technology to prevent airborne diseases), but I would prefer to directly donate the tokens to charities, perhaps even set up a DAO to let the community directly participate in decision-making and processes.
I've mentioned before that I think the best outcome for MEME coins is that they can maximize the positive impact they can have on the world, so it's really great to see this happening."
And in the comments, someone asked, "When will you release the 'Ethereum bull market' post?", and Vitalik also graciously released the previous "calling ETH" meme image again in a "meme-style" way: Ethereum is good.
VanEck investment manager: 'MEME coins are worth learning and referencing for crypto projects'
On October 8, VanEck portfolio manager Pranav Kanade posted that MEME coins have four key aspects worth learning and referencing for the crypto field:
1. Simplicity: Many teams have over-designed their tokens, without realizing that:
- Time + Capital + Attention = Scarce;
- About 600,000 tokens were issued last year;
- The competition for the above scarce resources has intensified due to the convenience of token issuance.
Instead, they should focus on:
Simple token design;
Clear vision;
Demonstrate how the execution of the vision can create wealth for token holders;
2. High liquidity, low FDV (low entry valuation);
3. Founder/team alignment: We can only get rich if the goals are achieved/the products are delivered as promised;
4. High transparency (e.g., disclosing the cost basis of venture investors, which is usually hard to find).
It is worth mentioning that Pranav specifically expressed his gratitude in the comments to Solana Foundation BD Kuleen, as the latter forwarded him the currently hottest "Meme Coin New Generation Pump Master, Meme Coin New Patriarch, Crypto KOL Trending Sensation" - Murad.
Crypto KOL Trending Sensation Murad: "This is the Super Cycle of Meme Coins"
At the industry event Token2049 in September, Murad gave a speech titled "The Super Cycle of Meme Coins", vividly depicting the achievements of Meme Coins in the current cycle and their continued brilliance going forward, based on the rich and detailed data he presented as well as his highly infectious and provocative language. This speech has become a topic of heated discussion in the crypto market, including among retail and institutional investors. (Note from Odaily Planet Daily: The author has provided the specific address of the speech here, and interested readers can watch it themselves.)
It is also worth mentioning that Murad previously served as Chief Investment Officer, Bitcoin Analyst and Economist at Adaptive Capital (an institution founded in May 2019 by famous Bitcoin investor Willy Woo, the creator of the Bitcoin NVT valuation model), as well as an analyst at Goldman Sachs. He has also expressed optimism about Bitcoin's development on multiple occasions, giving a glimpse of his previous speaking style:
In January 2019, Mahmudov was very bullish on Bitcoin in the long run, believing that Bitcoin could fundamentally change global finance. Mahmudov claimed that he would not spend Bitcoin for at least ten years, as the potential upside and asymmetric risk profile of the asset made it absurd to use Bitcoin at the current price.
In September 2019, "If people's trust in government institutions is gradually declining, I believe people will gradually seek alternative solutions. If inflation, government regulation, geopolitical tensions, commercial banks and negative interest rates cause fiat currency holders to suffer losses, the motivation to buy and hold Bitcoin may become stronger and stronger."
He has also explained at an international conference over 50 reasons why Bitcoin's price and adoption will explode in due time, including:
1. Public trust in banks and traditional institutions is declining, probably due to increased political polarization and the 2008 recession, leading the public to become increasingly distrustful of mainstream media and banks. This potential distrust and turmoil lays the foundation for the implementation of new trustless systems like Bitcoin.
2. Global debt is expanding, and some may need a "Plan B" like Bitcoin or gold.
3. Negative-yielding bonds have reached a historic high of $15 trillion. Bitcoin may attract investors who are starting to realize the state of the global economy.
4. Macro investors are turning to Bitcoin. Macro hedge fund managers and investors have started turning to Bitcoin, which will only highlight its potential. For example, former Goldman Sachs executive Raoul Pal has started turning to Bitcoin, calling it a choice about the financial future and the best asset for millennials, and believes Bitcoin's value is currently significantly underestimated in the long run.
It can be said that Murad is a true "BTC Maxi" and a crypto OG, but now the object he is advocating is no longer the almighty BTC, but the "accessible to all" Meme Coins.
Furthermore, he has "put his money where his mouth is" and participated in Meme Coin trading himself, having bought SPX 4 months ago and made a profit of up to 79 times; recently, he even posted a tweet stating: "Love it or hate it. In this cycle, the performance of Meme tokens will surpass everything. This is just the beginning."
Previously, he posted that "VCs, retail, and TradFi will all buy Meme coins because the smart ones are doing it", and also claimed: "The reason for the Meme Coin super cycle is that investing in Meme coins is a matter for everyone, and the more enthusiasm people have for investing, the more prosperous these assets will become."
Mechanism Capital Co-Founder: "The Top 5 Meme Coins of This Cycle Have Emerged"
On October 5, Mechanism Capital co-founder Andrew Kang posted that "It seems that Murad's speech at Token 2049 catalyzed the next wave of capital reallocating to Meme Coins. POPCAT appears to be one of the beneficiaries of this capital flow, now undergoing price discovery.
The four major Meme Coins preparing to join this cycle are BONK, WIF, PEPE and FLOKI."
DWF Labs Co-Founder: "Institutionalizing Investment in Meme Coins is Our Work Focus"
DWF Labs co-founder Andrei Grachev posted: "The Meme Coin market has become a mature and stable part of the industry. It leverages extreme fear and greed, allowing savvy investors and traders to make huge fortunes.
DWF Labs institutionalized investment in Meme Coins years ago, and this remains one of our priorities."
OG KOL Cygaar: "As Long as the Internet Exists, Meme Coins Will Continue to Exist"
Crypto KOL cygaar posted: "The Meme Coin trend is inevitable.
Cryptocurrencies are widely adopted by the following groups:
– Always online, passionate about internet culture;
– Always looking for ways to make money;
– Want to be part of a tightly-knit community;
– Need some belief.
For the new generation of internet consumers, creating, trading, and discussing tokenized Memes is a natural development.
There is still a lot of work to be done to make Meme coins more transparent and fair, but people are having fun, and some have made a lot of money in the process.
The temptation to get rich quick by investing in the next viral Meme coin will continue to attract users. This is also why AMC and GME have become such a massive phenomenon. As long as people spend a lot of time on the internet, Meme coins will continue to exist and thrive.
Summary: The value of BTC is about freedom, the value of Meme coins is about fairness
After the Bitcoin spot ETF was approved, when BlackRock CEO Larry Fink was asked about how much value he thinks Bitcoin will have in the future, he replied: "What is the value of human freedom?" He then went on to say: "I firmly believe that Bitcoin has an indispensable position in investment portfolios, it is like 'digital gold'."
If the price of Bitcoin, the first decentralized cryptocurrency in human history, is about freedom, then Meme coin projects, which are rooted in internet culture and have grown in an atmosphere of various spiritual and cultural symbols, are more like symbols "calling for fairness and longing for connection" - low threshold, easy to understand, with a community, enjoy the moment, earn high returns, and hope to get rich overnight.
What Meme coins carry is not only our desire for money, but perhaps also our expectation of connecting the reality and the internet through symbolic image ties, and this is also the reason why Meme coins will continue to exist and thrive.
