Original author: @JSkye 32
Mentor: @CryptoScott_ETH
introduction
MEME plays a core role in Web3 culture and quickly resonates in the digital currency community through its unique communication method and wide popularity. These digital images or concepts, which are often humorous and satirical, not only deepen the connection between community members, but also become an important means of expressing opinions, emotions and market trends.
MEME plays an integral role in driving awareness and participation in the Web3 project by being able to reach widespread dissemination across language and cultural barriers at very low cost.
The recent performance of MEME currency in the market has attracted widespread attention. According to data from CoinMarketCap, MEME coins have shown significant growth in market capitalization and trading volume, reflecting the currency’s popularity and high investor interest.
For example, BOOK OF MEME ($BOME) has achieved over 1000% growth in a short period of time. The reason behind this phenomenon is mainly that the large issuance volume and low unit price of MEME coins make them ideal for attracting funds in bull markets, as investors seek the possibility of obtaining high returns through small investments.
In addition, MEME coins often revolve around light-hearted and humorous themes, which are easy to spread quickly on social media, thereby attracting more attention and participation.
1. MEME propagation mechanism
1. Social media and community interaction
Social media platforms are a key channel for the spread of MEME coins. Through Twitter, Reddit, Telegram, etc., the project team interacts directly with users to share updates, host events, and respond to community feedback. This interaction not only increases the visibility of the project, but also strengthens the cohesion of the community, allowing information to be disseminated more quickly and effectively.
As the earliest cryptocurrency, Bitcoin ($BTC)'s community interaction is mainly conducted through social media platforms such as Twitter and Reddit. BTC community members frequently share market dynamics, technology updates, and investment strategies, forming a powerful information sharing network.
For example, the r/Bitcoin section on Reddit has more than 1 million subscribers. Through discussions and sharing, these users have enhanced BTC's brand recognition and market influence, forming a strong community consensus.
2. Viral marketing
Viral marketing for MEME coins relies on highly viral content such as eye-catching slogans, interesting images or unique concepts. These contents are easily accepted by users and spread quickly in social networks, thereby achieving low-cost but efficient marketing, allowing MEME coins to gain widespread attention in a short period of time.
$AKITA utilizes the visual elements of the Shiba Inu, which has a wide audience base in the Web2 and Web3 worlds, and spreads quickly through creative content on social media platforms.
For example, $AKITA community members have produced various Shiba Inu-related MEME images and videos, which have been widely shared on platforms such as Twitter and Reddit for their humor and visual appeal. In addition, $AKITA further enhances its viral marketing effects by hosting online contests and interactive activities, such as the creation and auction of NFT artworks.
These activities not only increased $AKITA's community participation, but also attracted the attention of more potential investors, making $AKITA become a popular MEME coin in the market in a short period of time.
3. Take advantage of celebrity effect
Using celebrity effects to spread MEME Coin involves working with influential public figures to share MEME Coin information through their social media platforms to attract fans' attention.
Create interactive content such as challenges and live streams to increase user engagement. Launch limited edition MEME coins or products co-branded with celebrities, and combine charity activities to enhance brand image. At the same time, monitor the effectiveness of promotional activities to ensure that the celebrity effect is transformed into actual market influence.
$DOGE owes its popularity to Elon Musk’s celebrity. Musk mentioned DOGE many times on Twitter, hailing it as the "people's cryptocurrency," which aroused widespread resonance among fans and the media. These tweets not only enhanced $DOGE's brand recognition, but also stimulated the creative enthusiasm of the community and generated a large amount of relevant secondary content.
Every time Musk mentions dog-related content on Twitter, the price of $DOGE will skyrocket, becoming an iconic symbol of cryptocurrency culture.
4. KOL and community influence
Opinion leaders (KOL) play a vital role in the promotion of MEME coins. Their recommendations and endorsements can significantly enhance a project’s credibility and appeal. In addition, the influence of the community cannot be ignored. Active community members can accelerate the spread of project information through word-of-mouth.
The $SHIB community has effectively increased the visibility of the project by cooperating with many KOLs in the cryptocurrency field. For example, when well-known KOLs such as CZ ( CZ, CEO of Binance) mention $SHIB on social media, a large number of their followers will become interested in the project.
In addition, the active interaction of $SHIB community members on Twitter, Reddit and other platforms further enhances the project's appeal and credibility by sharing trading experiences, creating MEME content and participating in discussions. This synergy between KOL and the community has made $SHIB become a hot topic in the cryptocurrency market in a short period of time and attracted the attention of a large number of investors.
5. Wealth effect
The price fluctuations of MEME coins are often accompanied by strong wealth effects. When prices rise, new investors are attracted into the market in the hope of earning money by participating. This effect not only promotes further price increases, but also expands the cultural spread of MEME coins.
Silly Dragon was launched by Solana founder Anatoly Yakovenko during Halloween 2023. This direct support from the founder of the public chain adds trust and authority to the project, further promoting its wealth effect.
$SILLY has shown significant market growth in a short period of time. In less than two weeks since its launch, the market value has reached US$70 million, with more than 8,600 currency-holding addresses and an on-chain pot of up to US$1.2 million. This rapid market growth is seen as a wealth effect, attracting more investors and traders.
6. Incentive mechanism
The incentive mechanism is one of the important strategies for MEME coin promotion. Through means such as airdrops, transaction burning taxes, and lucky draws, the project encourages users to hold and trade tokens, thereby increasing market activity and user stickiness, while also bringing more attention and discussion to the project.
$AIDOGE uses a decreasing airdrop, that is, users who receive it early can get more tokens. This mechanism encourages users to participate as early as possible, thereby increasing market gaming and the initial demand for tokens.
At the same time, a transaction burning tax mechanism is designed. Each on-chain transaction will have a 15% burning tax, part of which is used for ecological development, part of which is destroyed, and part of which is rewarded to liquidity providers and holders for pledge dividends. This mechanism Increases the scarcity of the token, thereby increasing its value.
7. Unique concept and design
The design of MEME coins is often closely related to its concept, and its unique visual elements and cultural connotations make it stand out among many cryptocurrencies. This design not only increases the recognition of the project, but also makes MEME coins easier to be shared and discussed on social media.
The concept of $BOME is "Book of MEME". This project was initiated by Pepe MEME artist Darkfarm to create a gallery focusing on the permanent storage and creation functions of MEME. BOME attracted a lot of attention in a short period of time and spread rapidly on social media, and its market value increased significantly in a short period of time.
The concept of "Book of MEME" is to combine MEME culture with blockchain technology to save and share MEME content through a decentralized platform. The project raised funds through a pre-sale campaign and attracted a large number of investors and community members in a short period of time.
The rapid rise of $BOME demonstrates how the MEME coin quickly gained attention and value in the cryptocurrency market through its unique concept and design, as well as the active participation of the community.
8. Innovative and easy-to-disseminate topics
MEME coin projects usually combine innovative or easily spread topics to increase their attention. Whether it is a MEME related to popular culture or a reference to a social phenomenon, these topics can spread quickly in the community and arouse widespread resonance, thereby increasing the market awareness of the project.
$SLERF is a MEME coin based on the Solana blockchain that has quickly become popular due to its unique narrative and community engagement. The founders of $SLERF burned key tokens by mistake and subsequently launched a rescue operation in an attempt to raise funds to compensate pre-sale participants.
This action received positive response from the community and multiple exchanges, including support from well-known celebrities and big Vs. The price of $SLERF experienced wild swings but was able to stage a significant rebound to reach new highs within a short period of time. Its narrative and market performance have propelled $SLERF into the spotlight in the market
2. How MEME captures emotions (causing fomo)
In the cryptocurrency market, the popularity of MEME coins is often closely related to its ability to capture and stimulate investor sentiment. FOMO (Fear of Missing Out) is a particularly strong emotional reaction that plays a key role in the spread and value formation of MEME coins. Here is a detailed explanation of how MEME coin captures emotions, specifically causing FOMO.
1. Viral spread of social media - rapid spread leads to panic chasing
The MEME coin quickly gained traction through virality on social media platforms. A tweet about a MEME coin or a discussion thread on Reddit can be widely shared in a short time if the content is engaging or entertaining.
This method of communication not only increases the visibility of MEME Coin, but also creates a sense of urgency in the community, making people worry about missing out on the opportunity to participate in a potentially popular project.
$DOGE’s viral spread started with a tweet on Twitter, sent by Elon Musk, calling it the “people’s cryptocurrency.” He later mentioned Dogecoin many times and became its veritable spokesperson.
According to statistics, every time Musk's Twitter mentions dog-related content, the price of $DOGE will rise significantly in the short term. Many investors are afraid of missing out on the rise due to FOMO emotions and eagerly join in buying when Musk mentions Dogecoin.
2. Promoted by the community and KOL - missing out on credible potential benefits brings panic
MEME coin’s community and key opinion leaders (KOLs) play an important role in capturing sentiment. KOL's endorsement or recommendation can quickly increase the credibility of a MEME coin, making community members feel compelled to participate so as not to miss out on potential benefits.
In addition, active discussions and sharing of success stories within the community can also enhance FOMO.
3. Prices and market performance - Chasing sentiment caused by the myth of getting rich in a bull market
Market price fluctuations and performance are direct factors causing FOMO. When the price of a MEME coin rises rapidly, investors worry about missing out on the opportunity to make profits. The hype and news reports in the market further amplify this sentiment, causing more people to join the buying trend out of FOMO.
Bitcoin price hits all-time high, reaching $70,000. It gave many users a signal that the bull market had arrived. This signal caused FOMO sentiment, causing many investors to rush to buy various spot prices to avoid missing out on further price increases in the bull market.
4. Marketing and Narrative Strategies - Opportunities for wealth hidden in unprecedented narratives
Successful MEME coin projects often employ carefully crafted marketing and narrative strategies. By telling compelling stories, MEME Coin is able to create an emotional connection with investors, making them feel like they are part of a larger story. This emotional investment further reinforces the FOMO sentiment as investors don't want to miss the opportunity to be part of the story.
5. Group psychology and network effect-group effect brings rapid spread of fomo
The value of MEME Coin is largely determined by its network effect, meaning that as more people join and use it, its value increases. Group psychology plays a key role here, as people are naturally inclined to follow the behavior of the group. When others are observed participating and benefiting from the experience, FOMO motivates more people to join in order to avoid being left out.
6. Scarcity and time limit - Create a sense of urgency to facilitate decision-making
The MEME coin project captures emotions by creating scarcity and limited time. For example, backed by an ecological chain/well-known investment institutions, multiple big V promotions, limited-time pre-sales, limited airdrops or special community activities, the MEME coin project can create a sense of urgency under multiple factors, making investors feel that they must immediately Act to avoid missing out.
3. The impact of MEME on public chains
MEME coins will have a significant impact on the public chain ecology. They attract a large number of new users through the mythical and social attributes of getting rich with small funds, and increase the activity and participation of the community. This expansion of the user base brings more liquidity to public chains, especially in decentralized exchanges (DEX), helping to reduce transaction costs and improve market efficiency.
The popularity of MEME coins has also promoted the diversity of the ecosystem, inspired new DApp development and technological innovation, and promoted the development of fields such as DeFi and NFT. In addition, MEME currency has effectively increased the awareness of the public chain through viral marketing and social media dissemination.
Nonetheless, the high volatility of MEME coins has also introduced market instability, posing challenges to the long-term stable development of public chains. Therefore, public chain platforms need to manage market risks while promoting innovation and growth to ensure the healthy and sustainable development of the ecosystem.
Case number one:
$BOME is a MEME coin project launched on the Solana blockchain, issued by Pepe MEME artist Darkfarm. The launch of BOME has had a significant impact on the Solana ecosystem, mainly in the following aspects:
Increased community activity: The pre-sale and listing of $BOME attracted widespread attention within the Solana community, attracting a large number of new users and investors into the Solana ecosystem. This phenomenon not only increases Solana’s trading activity, but also increases its overall popularity in the cryptocurrency market.
Liquidity pool growth: $BOME has injected significant funds into Solana’s liquidity pool through pre-sales and airdrop activities. This not only provides more liquidity for Solana’s decentralized exchange (DEX), but also provides trading depth and market vitality for other Solana projects.
Ecological Diversity: The successful listing of $BOME demonstrates the friendliness and support of the Solana ecosystem for MEME coin projects, which helps attract more similar projects to be developed and released on Solana, thereby increasing the diversity and diversity of the ecosystem. Innovative. 7
Investor confidence: The listing of $BOME and subsequent market performance may affect investor confidence in the Solana ecosystem. On the one hand, the success of $BOME may enhance investors' confidence in the Solana project; on the other hand, if $BOME experiences a price plunge or other negative events, it may also have an impact on the overall image of the Solana ecosystem.
Overall, $BOME’s impact on Solana is multifaceted, including active community participation and liquidity growth, as well as changes in market volatility and investor confidence. Solana ecological TVL and capital inflows: Solana ecological TVL currently exceeds US$4.3 billion, an increase of more than 100% in the past month. If funds continue to flow in, the overall ecological currency price will rise further. At the same time, various exchanges have significantly accelerated the launch of Solana tokens. The inflow of secondary market funds from exchanges will also indirectly affect the TVL situation of Solana ecology.
Case 2:
As the first real currency on Aptos, $DOODOO demonstrates its emphasis on innovation and community-driven development. Its launch seems to seek to create unique value in the Aptos ecosystem, reflecting the proliferation and influence of MEME currency culture on emerging public chains.
Enhance community participation: The listing of $DOODOO may attract members of the MEME coin community to join the Aptos ecosystem. These members are usually active on social media and cryptocurrency forums, and their participation can increase Aptos' community activity and user participation.
Improve market liquidity: Referring to Solana’s recent popularity trend brought about by MEME, MEME coins can often quickly attract trading volume. The listing of $DOODOO may bring more liquidity providers and traders to Aptos’ DEX, thereby increasing Liquidity across the entire network.
Promote innovative applications: The successful listing of $DOODOO may inspire developers to build more innovative DApps and smart contracts on Aptos, especially in NFTs, games and other fields related to MEME culture.
Increase media exposure: MEME coins usually have high media attention, and the listing of $DOODOO may attract more cryptocurrency news and media attention, thereby bringing more exposure and awareness to the Aptos ecosystem, allowing more Project parties and traders have noticed the chain.
Ecological feedback projects: The public chain foundation will support ecological projects through investment and token incentives. In the future, Aptos will continue to invest in ecological projects or use APT to incentivize ecological project users, and the ecosystem will continue to receive an influx of funds.
To sum up, the listing of $DOODOO in the Aptos ecosystem may bring a series of positive impacts, including enhancing community participation, improving market liquidity, promoting innovative applications, increasing media exposure, expanding user groups, promoting ecosystem growth, and Generate positive brand synergy. These impacts contribute to the overall development and maturity of the Aptos ecosystem.
4. Master the password of wealth and mine thousands of coins in advance
Although MEME coin lacks traditional financial value or commercial applications, it still has the potential for explosive growth. The success of the MEME token relies heavily on community support and social media hype, delivering significant returns to investors.
Selecting promising MEME tokens requires astute monitoring of social media trends, community engagement, and early trading patterns in order to invest before they become viral content.
MEME tokens are high-risk. Only a few tokens can achieve significant success. Most tokens will fall rapidly after experiencing short-term growth. Investors should be cautious about such investments.
Investors can refer to the following dimensions when looking for MEME coins with high growth potential:
1. Target selection
To judge whether a MEME can become popular and get out of the circle, we must first look at how easy its culture is to spread, as well as its initial and core seed users (coin holders), its early community culture, and its pictures and names must be able to attract people. Impressive.
MEMEs such as $DOGE, $SHIB, and $PEPE are all images with a certain popularity in Web2, which can arouse consensus and spread widely in Web3.
2. Community activity
An active community is the key to the success of MEME Coin. Check the project's social media platforms, such as Twitter, Reddit and Telegram, to see if there are multiple KOLs calling for orders, and whether the interactions of community members can arouse fomo emotions. An engaged and growing community may bode well for a project.
3. Project background
Research the team and developers behind the project to learn about their experience and background. An experienced and transparent team with a well-developed white paper and economic model is more likely to move the project forward.
4. Good narrative
Good narratives are inherently attractive. Breaking the rules and proposing information that goes against people's thinking patterns can increase the intrinsic appeal of MEME. In addition to breaking the rules, being full of mystery and controversy can also increase the inner influence.
The recently popular $SLERF brings a new epic narrative. Usually meme coin developers will burn the meme coins in the liquidity pool when the token is launched. This move can show investors participating in the pre-sale that developers will not be able to withdraw liquidity from the liquidity pool, and will also cancel the developer’s minting rights, thereby ensuring that developers will no longer be able to control the circulation of tokens. Therefore, This step is often seen as important bullish information for the coin.
The founder of $SLERF stated on Twitter that due to operational errors, he destroyed the token $SLERF that was reserved for airdrops in his wallet, as well as the 535,000 $SOL tokens raised in the pre-sale, and lost the right to mint coins. . Equivalent to directly draining the liquidity, this unexpected event triggered violent market fluctuations in $SLERF tokens, attracting a large amount of funds and community attention.
Although the price has experienced sharp rises and falls, SLERF's popularity has not diminished, and the founders have maintained the interest of the community by holding events in the space and making fun of themselves. Subsequently, $SLERF launched a rescue operation to solicit donations, hoping to raise $10 million, aiming to compensate pre-sale participants, and received support from Justin Sun, LBank, and multiple exchanges.
In addition to the related donations initiated by the founder himself, many big influencers on the X platform and multiple exchanges have paid attention to or actively responded to SLERF's activities. The story of continuous reversal has brought continuous popularity to slerf, making it expected to create new milestones in the MEME currency market.
Currently $SLERF has been listed on Bybit, Gate.io, LBank, Bitget and other exchanges. It has also surpassed $BOME and has become the third largest meme coin by market value in the Solana ecosystem.
5. Partners and Supporters
Check whether the project has well-known partners or supporters, such as public chains, cryptocurrency exchanges, investment funds, or industry influencers. Endorsements from these partners may add credibility and appeal to the project.
6. Data tracking
Use on-chain bots, etc., to monitor some tokens whose address numbers are growing rapidly and whose transaction volume is active. Analyze on-chain data and analyze the buying and selling behavior of early addresses or addresses with the largest currency holdings. Once large-scale selling of early addresses is discovered, appropriate positions should be sold or reduced.
7. Whether it has practical value
MEME coins initially relied on cultural narratives and speculative fever to build market consensus, but as the market became saturated, they had to turn to practical applications to sustain growth. For example, $DOGE achieved functionality by serving as a means of payment, while Shiba Inu launched an ecosystem including ShibaSwap and an NFT platform after growing in market cap to expand its value and user base.
Investing in MEME coins generally comes with a higher level of risk, so it is important to diversify your portfolio and not invest all your money in a single asset. At the same time, only invest the amount you are willing to lose and be prepared to hold it for the long term.
5. Summary and Outlook
Summarize:
MEME’s recent performance shows its unique position and influence in the cryptocurrency market. They attract widespread attention with their rapid ups and downs, narratives of getting rich, and community-driven nature.
The popularity of MEME is often accompanied by cultural phenomena and market hype. Take the recently active Solana ecosystem as an example. The launch of Backpack Exchange and Jupiter’s airdrop have injected new vitality into the MEME project of the Solana ecosystem, attracting a large number of users and funds. focus on.
These activities not only increase the liquidity of MEME Token, but also enhance the market's interest in the Solana ecosystem. Solana's low gas cost and high performance provide an ideal platform for the MEME project. This technical advantage makes Solana more efficient when processing a large number of transactions, lowering the threshold for user participation, thus providing a foundation for the popularity of the MEME project.
In addition, unique marketing strategies, such as the activity of giving away BONK tokens when purchasing a Saga Web3 mobile phone, have also promoted the popularity of BONK tokens and the sol ecosystem. This marketing method that combines physical products and digital assets provides new ideas for the marketing of MEME Token, and also demonstrates the potential of combining MEME culture with the real world. New concepts such as the combination of AI+Crypto have also brought new growth points to the MEME project.
However, this rapid growth is often accompanied by high risks, especially driven by market sentiment and FOMO (Fear of Missing Out), price fluctuations occur violently, posing considerable challenges to investors.
Outlook:
In the future, the development of MEME may focus more on technological innovation and in-depth community participation. As blockchain technology continues to advance, the MEME project may integrate more smart contract functions, cross-chain interoperability and decentralized finance (DeFi) applications, thereby providing a richer user experience and value creation.
The community-driven MEME project will continue to enhance user participation and loyalty through NFT, games, and social interactions to form a more solid community foundation. Community building and cultural identity will continue to be the key to MEME's success, and strong community consensus can provide lasting vitality to the project.
At the same time, as the regulatory environment gradually becomes clearer, compliance will become an important factor in the long-term survival of the MEME project. Investors and market participants will also have a more mature understanding of MEME, and rational investment and value-based holdings may become mainstream.
References
[ 1 ] https://www.163.com/dy/article/ITO6I768055672QL.html
[2] https://mp.weixin.qq.com/s/ nBtkw 247 iCm 93 uF 7 wMiY 5 Q
[Statement] This report is an original work completed by @JSkye 32 , a student of @GryphsisAcademy , with modification suggestions given by Gryphsis Academy instructor @CryptoScott_ETH . The authors are solely responsible for all content, which does not necessarily reflect the views of Gryphsis Academy, nor the views of the organization that commissioned the report. Editorial content and decisions are not influenced by readers. Please be aware that the author may own the cryptocurrencies mentioned in this report. This document is for informational purposes only and should not be relied upon for investment decisions. It is strongly recommended that you conduct your own research and consult with an unbiased financial, tax or legal advisor before making any investment decisions. Remember, the past performance of any asset does not guarantee future returns.
