In the past few months, the crypto market has been relatively stable, with both Bitcoin and Altcoins fluctuating without showing signs of breaking through previous highs. However, in this market context, meme coins have continued to take the lead, constantly creating a wealth effect in this seemingly not-so-bearish bear market, bringing many surprises to the market.
In this market cycle, many high-profile meme coins have emerged, such as PEPE, Turbo, Dogwifhat, TRUMP, which were popular last year and this year, as well as BOME, DEGEN, DOGS and NEIOR (First Neiro On Ethereum) that have just become popular this year. If you were an early or mid-term investor in these top meme coins, you could basically make a killing. Even for some mid-tier meme coins, as long as you were able to discover them early and participate sharply, you could also get a share of the pie.
However, once these meme coins reach a certain market capitalization, it becomes increasingly difficult to achieve high returns within the same meme coin. Therefore, we need to constantly look for new quality meme assets. In fact, the vast majority of on-chain ecosystems already have some decent meme projects, but there are still a few ecosystems that have not yet seen quality meme projects, or even have no meme projects at all. Therefore, these ecosystems will be our preferred targets for squatting and finding the next quality meme asset, with Scroll being an obvious example.
Scroll: A meme sanctuary and fertile ground
Scroll is a top-notch Ethereum ZK Layer2 ecosystem, performing well in terms of technology, narrative, and financing. However, for the Scroll ecosystem, in the past several meme seasons, no meme projects have emerged in the Scroll ecosystem, which can be said to have maintained a meme sanctuary status.
Combining our previous views, ecosystems that have not yet seen meme projects often contain opportunities and are worth high attention and squatting. Therefore, the Scroll ecosystem has become the fertile ground for the development of the meme track.
Against this backdrop, the first meme project of the Scroll ecosystem, $Baggor, is taking the lead and attracting widespread attention.
Can we have expectations for $Baggor?
In fact, meme tokens need to have a certain meaning and memory point. They either represent certain important events (such as People and AssangeDAO), or represent a certain culture or narrative (such as Doge and Shiba). Such meme coins are often better able to occupy the minds of investors and inspire their desire to participate.
First of all, putting aside the meaning represented by $Baggor itself, its biggest memory point is that it is the first meme project on the Scroll chain, which allows it to easily occupy the user's mind. When users think of Scroll and meme coins, they will naturally associate with $Baggor. This mental occupation will quickly attract a large number of users' attention and translate into investment desire under the blessing of the meme wealth effect. Therefore, as the first meme project in the Scroll ecosystem, $Baggor is destined to be highly concerned and has the potential to become a leader.
From the perspective of the Scroll chain, it entered the market relatively late and did not catch up with the previous rounds of meme waves. In this case, the Scroll ecosystem needs its own meme culture to enhance the centripetal force and cohesion of the community. The emergence of $Baggor just fills the void of meme culture in the Scroll ecosystem.
The meme cultural core of $Baggors
$Baggor represents a kind of "self-deprecating culture" that is easy for users to accept. Its name is derived from "begger", representing the "digital beggars" of the Web3 era. This meme originated from Starknet, where the team added a sub-channel named "eBagoooor" in the official Discord channel and used the icon of a bug, implying that many users who rushed to claim airdrops were digital beggars, which caused dissatisfaction among community users.
As the event developed, many users began to interact with Starknet and its team in a "polite consolation" manner, and some users even created various satirical meme images to mock Starknet. Subsequently, Toghrul Maharramov, a senior researcher at Scroll, argued with users about the airdrop issue and directly called them "Baggers", using malicious language, which not only put the Scroll team in the eye of the storm again, but also made the term "$Baggor" popular again. Later, Scroll released a Gitcoin badge representing real identity, which was also questioned by the community.
In fact, the popularity of the term "$Baggor" further reflects the project's dilemma in filtering real users during airdrops, while community users are dissatisfied with the project's excessive witch-hunting and arrogant attitude.
Of course, the meme project $Baggor in this article further extends it, making it represent a more positive image of digital nomads, symbolizing flexibility and rebellion against the fixed financial model, advocating free migration and exploration in the new digital economy.
In the crypto world, the digital nomad group is often at the end of the information chain and at the bottom of the wealth pyramid, lacking a sense of identity. As the most vulnerable group, they face oppression from large investors, whales, VC investors, and even projects, and their situation is difficult. Especially in the case of an overall market downturn, the situation of investors becomes even more difficult, and the difficulty of obtaining returns further increases.
Therefore, the essence of the meme culture of $Baggor represents a kind of awakening and rebellion, similar to the revolutionary sentiment of retail investors targeting Wall Street financial giants. It gathers the power of digital nomads to resist the solidified financial power structure, so that wealth is no longer concentrated in the hands of a few large households or VC investors. This decentralized power structure reflects a new democratized financial culture, encouraging everyone to participate in decision-making and wealth distribution.
Based on this idea, $Baggor is creating a brand new digital community for digital nomads, hoping to stand at the top of the crypto wealth pyramid in a fairer way by relying on the Scroll ecosystem. As a new wealth value orientation, $Baggor is calling on the digital nomads in the financial field to jointly promote a new round of attention, social and wealth revolution, and establish a new financial order. In this system, everyone can obtain income more fairly, and jointly defend and amplify their own wealth.
The equality movement triggered by $Baggor in the crypto world has redefined the identity of "beggar" with negative connotations, endowing it with new cultural and spiritual connotations, and helping them transform from passive "marginalized" to active "self-definers". This identity reconstruction not only changes the individual's self-perception, but may also trigger broader social changes.
$Baggor is still on the eve of an explosion
From the cultural attributes and spiritual core of the $Baggor project, it is expected to become the spiritual and cultural totem of the meme system in the Scroll ecosystem, building a strong and cohesive community. Any user holding $Baggor will become the initiator, promoter and beneficiary of this attention and wealth revolution.
$Baggor is expected to become the most authentic meme culture representative project on the Scroll chain, and will be sought after by various players on Scroll. The lack of meme culture in Scroll will provide fertile soil for the development of $Baggor. $Baggor itself has the potential to become a leader, which will be the result of the joint choice of the Scroll community, users and $Baggor. Everyone hopes to realize the "revival" of the meme culture in the Scroll ecosystem through $Baggor.
Therefore, the Scroll community, early builders, and contributors will have the motivation to pour a lot of resources into $Baggor and turn it into a phenomenal leader meme, so that everyone can share the late meme dividends on Scroll.
From this perspective, $Baggor will definitely explode.
From the perspective of the wealth effect, meme tokens are often able to bring unexpected returns to many investors, as long as they are early or mid-term investors, the myth of thousands or even millions of times returns is still possible. $Baggor has just been launched and is being widely circulated in some communities, and is currently gathering strength, and the fact that it has not yet exploded is a good early opportunity for investors, the singularity may come quickly, and we may be on the eve of the explosion.
It is worth mentioning that $Baggor has now burned 100% of the LP, the burning record:
scrollscan.com/tx/0xe7598c3443c7c3a4db1fc19f042cb3bd9835352ae802ca3774331d1174657733
$Baggor contract address: 0x17a60bB4649A7Bb885d05c008D7118a5E513d895
The current market capitalization is still not high, it is a large MC memecoin worth chasing!
In addition, as the earliest meme token in the Scroll ecosystem, $Baggor may provide airdrops to the community users of high-quality projects in the Scroll ecosystem to achieve early start-up, so the top projects in the Scroll ecosystem can do more ambush.
