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Meme coin craze returns, SOL rises over 20%

时间:2024-03-22|浏览:227

The surge in $BOME last weekend allowed the SOL coin to buck the trend and rise to the 200 yuan mark despite the general market decline, and once again set off a whirlwind of meme coins. At the same time, SLERF, another meme currency project on the Solana chain, caused the liquidity pool funds and airdrop tokens to be destroyed due to the founder’s mistake, but unexpectedly triggered the deflationary FOMO sentiment of the SLERF token, which surged 60 times in a short period of time! Taking advantage of this craze, an anonymous artist Kero posted on Twitter a few days ago that he wanted to issue meme coins on Solana and start pre-sales. In just one day, he raised more than 11 million US dollars, but Kero himself said that he When the pre-sale started, I didn’t even know what I was going to issue. I couldn’t help but admire the amazing power of the community in the currency circle. The tweet below also perfectly explains the craziness of meme coins.

MEMECOINCRAZERETURNSSOLRISESOVER20The skyrocketing rise of meme coins cannot be separated from human nature

Meme coins usually refer to those cryptocurrencies based on Internet memes, pop culture, or other unique concepts. Their value is often not based on traditional financial evaluation indicators, but depends on the emotion and investment of the community. Therefore, it is easy to FOMO due to the investor’s emotions. Meme coins usually do not have much support from the ecosystem and lack practical application scenarios. However, they have the potential to instantly increase their wealth, creating many myths about early participants doubling their wealth. And the rising momentum behind this increase of dozens of times has a lot to do with human nature. Here we can connect the skyrocketing rise of meme coins with several psychological terms.

  1. Herding: Herding is when people follow the actions or decisions of others without sufficient information or knowledge. This behavior may be due to trust in the behavior of others, or it may be due to lack of confidence in one's own judgment. Herding is common in financial markets, social media, voting behavior, and more. In layman's terms, it means "following the trend". When a meme coin suddenly skyrockets, people may be interested in it because of its uniqueness or the promotion of certain communities, causing more people to join in and buy it. This phenomenon is similar to herding, where people follow the behavior of others rather than based on a rational assessment of the asset's true value or potential risk. This herding behavior can lead to sharp price increases, but it can also lead to sharp price drops, especially when market sentiment changes.

  2. Sense of community belonging and ease of dissemination: The design concept of meme coins is usually derived from a meme that has already gained a certain popularity on the Internet, such as $DOGE’s Shiba Inu and $PEPE’s frog. Compared with Bitcoin and For blockchain professional terms such as Ethereum, a meme is more likely to be spread by word of mouth among people and is more likely to resonate. In addition, purchasing meme coins can give others a signal that "I also understand this meme", become a member of the community, and gain a sense of self-identity.

  3. Endowment effect: The endowment effect means that when a person owns an item or asset, his assessment of the value of the item or asset is greater than when he does not own the item or asset. One of the characteristics of meme coins is that the supply is usually very large or has no upper limit, so the price is very low, and a few U can hold a bunch of meme coins. If you spend the same money to buy meme coins, your account balance will show millions of them, while mainstream coins may only have one or two. Therefore, the endowment effect brought by meme coins is greater than that of mainstream coins, which may It makes people want to buy and hold meme coins even more.

The meme coin overlord of the last bull market: DOGE Coin

Speaking of meme coins, the most representative one is none other than DOGE coin. Even now, it is still the meme coin with the largest market value. Dogecoin was created by Jackson Palmer in 2013. The original intention of the creation was to spoof the craze of virtual currency at that time, so he combined the two memes that were popular on the Internet at that time, doge (a dog head with a Japanese Shiba Inu printed on it) + bitcoin It was combined into dogecoin and widely promoted on social media.

Dogecoin began to skyrocket and became widely known. It dates back to 2019, when it was influenced by Tesla founder Elon Musk’s multiple tweets in support of Dogecoin, which greatly increased its exposure. Musk even said at the time that he would bring a physical Dogecoin to the moon. Such high-profile and continuous public support has caused the price of Dogecoin to skyrocket. In 2021, the price of Dogecoin soared 330% in one week and reached a new all-time high.

MEMECOINCRAZERETURNSSOLRISESOVER20(Image source: coingeko)

The difference between Dogecoin and other meme coins is that due to its high popularity, it can be used in certain payment scenarios. Currently, there are more than 1,400 online or offline stores around the world that accept customers to pay with Dogecoin. In addition, Dogecoin can also be used to purchase gift cards, etc. There are also Dogecoin holders who use it as tips to reward creators on certain social platforms.

The new king takes over the old master, who will be the next one to get 100 times the meme coin?

Back in 2024, when meme coins were booming in recent days, Musk posted a picture of a Shiba Inu terrier with a green hat on March 18 to commemorate St. Patrick’s Day, but Dogecoin Instead of rising sharply after hearing the news like in previous years, WIF, an emerging meme currency with the Shiba Inu as its iconic logo, rose from US$2.54 to US$3.29 after Musk’s post, a 30% increase. The hype of Dogecoin Sex is not as good as before.

MEMECOINCRAZERETURNSSOLRISESOVER20

So in the new round of bull market, which meme coins have the potential to take over the position of Dogecoin and stand on the cusp of the next round of meme coin craze?

Pepe Coin ($PEPE) - the ancestor of frog coins that broke the dominance of the dog faction

One of the most well-known currencies in the current meme currency circuit is based on the design concept of Pepe the Frog, a meme cultural character extended from the online comic "Boy's Club". After its release, it suddenly emerged and broke the past dominated by dogs. Create a Peppa Frog universe in a world of meme coins that puts you in charge. Pepe Coin, which was only issued in April 2023, is now the third largest meme coin in terms of market value, second only to $DOGE and $SHIB. This shows its high growth rate and attention, and the main features of Pepe Coin are: There are two:

limited supply

The maximum supply of Pepe coins is currently 420 trillion. Although the supply is huge, it is different from other meme coins such as $DOGE, which will issue an additional 5 billion tokens every year to increase the supply indefinitely, causing its supply to rise and the price to fall. To avoid risks, Pepe Coin has designed a unique token burning mechanism to regulate its circulating supply. A portion of the tokens will be permanently removed from the circulating supply on a regular basis to ensure the scarcity of Pepe Coin.

Pure meme currency and huge community power

There is this passage on the official website of Pepe Coin: "$PEPE is a Memecoin with no intrinsic value or expectation of financial return. There is no formal team or roadmap, it can be said to be completely useless, just for entertainment." His official Twitter also positions it as "the most meme-like meme coin in existence." This may seem absurd to investors who value value investing, but such a slangless slogan and the pure characteristics of a meme currency are actually attractive. It has a large number of supporters and provides it with huge community power.

SpongeBob SquarePants Coin ($SPONGE) - an alternative meme coin that you can play with and earn interest on

As the name suggests, $SPONGE is a meme coin related to the famous cartoon SpongeBob SquarePants. It is also a popular meme coin that attracted much attention as soon as it was released in May 2023. It has gained a large number of fans. Since its first listing, $SPONGE has been on the market within 24 hours. A 2000% increase, making it one of the fastest growing meme coins on the market. Although $SPONGE is also a meme coin that advertises zero utility, its launch of Sponge V2 introduces a new mechanism to its ecosystem, giving $SPONGE more value.

Sponge V2 is currently unavailable for purchase. Users can only purchase and pledge their Sponge V1 tokens (that is, the original $SPONGE) through Sponge’s website to obtain Sponge V2 tokens. However, it should be noted that the Sponge V1 pledged by users The tokens will be permanently locked and cannot be withdrawn, and the Sponge V2 token rewards obtained by staking will be gradually distributed within four years with high APY. Sponge V2 has two major features:

Guaranteed high APY of over 40%

As mentioned above, Sponge V2 can only be obtained by staking V1, but its biggest attraction is its high APY. Although the APY will fluctuate depending on time and the amount of pledge, the official white paper advertises a minimum reward of 40%. , which is quite explosive even in the bull market. Currently, the APY of staking Sponge V1 on Ethereum reaches 173%, and the APY of Polygon chain is 411%, which means that as long as you pledge V1 tokens, you can earn 100 times the passive in four years. income!

MEMECOINCRAZERETURNSSOLRISESOVER20

Plans to launch P2E games

The Sponge team is planning to launch a play-to-earn game exclusive to the Sponge ecosystem. In the future, users will be able to purchase points through Sponge V2 tokens to play the game and win more tokens in the process. The game is also expected to have a free version, although players of the free version will not be rewarded with Sponge V2 tokens. If the game gains a certain amount of attention in the future, it will definitely bring more value to the Sponge community and V2 token holders.

Scotty the AI ​​($SCOTTY) - A rising star in AI storytelling

Friends who invest in Taiwanese stocks believe that they all know the crazy performance of AI concept stocks since the second half of 2023, and there are also AI concept coins in cryptocurrencies. This year, there is also the opportunity to explode into astonishing gains under the still-burning AI theme, and $SCOTTY is one of them. First level, and $SCOTTY is still in its infancy and has not yet been listed on CEX, so everyone has the opportunity to become an early participant. $SCOTTY is also a dog-themed meme coin, but unlike the Shiba Inu of $DOGE and $SHIB, Scotty is a Scottish terrier wearing a space suit, with fluffy jet-black fur and sharp eyes. The team behind it designed him to be the "Guardian of the Encrypted Universe". He wanders among the endless codes and algorithms that make up the digital world, discovers loopholes that are difficult for human engineers to detect, and works tirelessly to defend the security of the encrypted world. Its biggest features are two:

The combination of AI and blockchain technology

$SCOTTY touts the use of AI technology to solve security, fraud and risk mitigation problems. The AI-driven Scotty Swap is expected to be launched in the third phase, which can automatically analyze blockchain data and identify threats before executing seamless and secure token exchange transactions, ensuring safe and efficient token transactions. Another one will be launched in the future. Features ScottyChat is an AI chatbot that provides instant market insights, analysis and personalized advice, making it an essential tool for new and experienced investors.

Establishing a complete ecosystem

The $SCOTTY team has clear plans for its subsequent development. In addition to planning to develop its own independent blockchain after launching Scotty Swap and ScottyChat in the third phase, it also plans to launch its own P2E game to strengthen Scotty’s Community power and token empowerment. In the future, the team is also preparing to launch more AI-related token application scenarios and make its own way in the highly hyped meme currency track.

High returns are bound to be accompanied by high risks, please DYOR before investing

Even though meme coins contain opportunities to get rich, investment is ultimately a zero-sum game. Behind the surge in SLERF, some people make huge profits while others lose huge amounts. However, in a bull market, only stories about net worths doubling several times are often widely circulated. Regarding the SLERF meme coin craze alone, more than one article reported that a certain address made more than 3 million US dollars in 12 minutes. However, in fact, another large investor increased his position in SLERF after FOMO got the better of him, but within 5 hours, his assets The value was cut in half. Therefore, you still need to refer to DYOR from multiple sources before investing, especially in the meme currency sector that relies heavily on community power and lacks fundamental support. After all, market sentiment is often the most unpredictable and fatal.

热点: COIN MEME SOL

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