en Thousand Words Interpretation of MEME: How to Become a Golden Dog Hunter?

Introduction

MEME plays a central role in Web3 culture, rapidly resonating within the cryptocurrency community through its unique dissemination methods and broad appeal. These typically humorous, satirical digital images or concepts deepen connections among community members and serve as vital means of expressing viewpoints, emotions, and market trends.

MEME transcends language and cultural barriers, achieving widespread dissemination at minimal cost, thereby playing an indispensable role in driving awareness and engagement for Web3 projects.

The recent performance of MEME tokens in the market has sparked widespread attention. According to CoinMarketCap data, both the market capitalization and trading volume of MEME tokens have shown significant growth, reflecting the popularity of such tokens and investors’ keen interest.

For instance, BOOK OF MEME ($BOME) achieved over 1000% growth in a short period. The primary reason behind this phenomenon lies in the large supply and low unit price of MEME tokens, making them an attractive choice for capital inflows during bull markets as investors seek the potential for high returns through small investments.

Furthermore, MEME tokens often revolve around light-hearted, humorous themes, making them easily shareable on social media platforms and attracting more attention and participation.

1. MEME Propagation Mechanism

1. Social media and community interaction

Social media platforms are crucial channels for the dissemination of MEME tokens. Through platforms like Twitter, Reddit, Telegram, etc., project teams interact directly with users, sharing updates, hosting events, and responding to community feedback. This interaction not only enhances the project’s visibility but also strengthens community cohesion, facilitating faster and more effective information dissemination.

Bitcoin ($BTC), as the earliest cryptocurrency, primarily engages its community through social media platforms such as Twitter and Reddit. Members of the BTC community often share market dynamics, technical updates, and investment strategies, forming a robust network for sharing information.

For example, the r/Bitcoin subreddit on Reddit has over 1 million subscribers. These users enhance BTC’s brand awareness and market influence through discussions and sharing, forming a strong community consensus.

2. Viral marketing

MEME token’s viral marketing relies on highly shareable content, such as attention-grabbing slogans, amusing images, or unique concepts. These contents are easily accepted by users and rapidly disseminated across social networks, achieving cost-effective yet efficient market promotion, thus garnering widespread attention for MEME tokens in a short time.

$AKITA leverages the visual elements of Shiba Inu, which have a broad audience base in both the Web2 and Web3 worlds, spreading rapidly through creative content on social media platforms.

For instance, $AKITA community members create various MEME images and videos related to Shiba Inu, which are widely shared on platforms like Twitter and Reddit due to their humor and visual appeal. Additionally, $AKITA enhances its viral marketing efforts by hosting online competitions and interactive activities, such as creating and auctioning NFT artworks.

These activities not only increase community engagement for $AKITA but also attract more attention from potential investors, making $AKITA a hot MEME token in the market within a short period.

3. Take advantage of celebrity effect

Utilizing the celebrity effect to propagate MEME tokens involves collaborating with influential public figures to share MEME token information through their social media platforms, attracting followers’ attention.

Creating highly interactive content, such as challenges and live streams, increases user engagement. Launching limited edition MEME tokens or merchandise in collaboration with celebrities, as well as integrating charitable activities to enhance brand image. Simultaneously, monitoring the effectiveness of promotional activities ensures that the celebrity effect translates into actual market influence.

The popularity of $DOGE benefits from the celebrity effect of Elon Musk. Musk has mentioned $DOGE multiple times on Twitter, praising it as the “people’s cryptocurrency,” triggering widespread resonance among fans and the media. These tweets not only enhance $DOGE’s brand awareness but also inspire community creativity, generating a large amount of related derivative content.

Every time Musk mentions dog-related content on Twitter, it leads to a rapid surge in the price of $DOGE, making it an iconic symbol of cryptocurrency culture.

4. KOL and community influence

Key Opinion Leaders (KOLs) play a crucial role in the promotion of MEME tokens. Their recommendations and endorsements can significantly enhance the credibility and attractiveness of projects. Additionally, the influence of communities should not be overlooked, as active community members can accelerate the dissemination of project information through word-of-mouth.

The $SHIB community effectively raised the project’s profile through collaborations with several KOLs in the cryptocurrency field. For example, when prominent KOLs like CZ (Changpeng Zhao, CEO of Binance) mention $SHIB on social media, their large following becomes interested in the project.

Furthermore, active engagement by $SHIB community members on platforms like Twitter and Reddit, where they share trading experiences, create MEME content, and participate in discussions, further enhances the project’s attractiveness and credibility. This synergistic effect between KOLs and the community has made $SHIB a hot topic in the cryptocurrency market within a short period, attracting significant investor attention.

5. Wealth effect

The price fluctuations of MEME tokens often accompany strong wealth effects. When prices rise, new investors are attracted to the market, hoping to profit from participation. This effect not only drives further price increases but also expands the cultural dissemination of MEME tokens.

Silly Dragon was launched by Solana founder Anatoly Yakovenko during Halloween in 2023. Direct support from the founder of a public chain added trust and authority to the project, further driving its wealth effect

$SILLY demonstrated significant market growth in a short period. In less than two weeks after its launch, its market capitalization reached $70 million, with over 8600 holding addresses and an on-chain liquidity pool of $1.2 million. This rapid market growth is seen as a wealth effect, attracting more investors and traders.

6. Incentive mechanism

Incentive mechanisms are one of the key strategies for promoting MEME tokens. Through methods such as airdrops, transaction burn taxes, and lucky draws, project teams encourage users to hold and trade tokens, thereby increasing market activity and user retention, while also attracting more attention and discussion to the project.

$AIDOGE employs a decreasing airdrop mechanism, where early adopters receive more tokens. This mechanism incentivizes users to participate early, thereby increasing market dynamics and initial token demand.

Additionally, a transaction burn tax mechanism is designed, where 15% of each on-chain transaction is burned. Part of this tax is allocated for ecosystem development, part is burned, and part is rewarded to liquidity providers and holders as staking dividends. This mechanism increases the scarcity of tokens, thereby enhancing their value.

7. Unique concept and design

The design of MEME tokens is often closely related to their concept, with unique visual elements and cultural significance setting them apart from numerous cryptocurrencies. This design not only increases the project’s visibility but also makes MEME tokens easier to share and discuss on social media.

The concept of $BOME is “Book of MEME.” This project was initiated by Pepe MEME artist Darkfarm, aiming to create a gallery focused on the permanent storage and creation of MEME content. $BOME quickly attracted a lot of attention and spread rapidly on social media, with its market value significantly increasing in a short time.

The concept of “Book of MEME” combines MEME culture with blockchain technology, aiming to preserve and share MEME content through a decentralized platform. This project raised funds through presale activities and quickly attracted participation from a large number of investors and community members.

The rapid rise of $BOME demonstrates how MEME tokens can quickly gain attention and value in the cryptocurrency market through unique concepts and designs, as well as active community participation.

8. Innovative and easily disseminated topics

MEME token projects often enhance their visibility by combining innovative or easily disseminated topics. Whether it’s MEMEs related to popular culture or references to social phenomena, these topics can spread quickly within communities, resonating widely and thereby increasing the project’s market awareness.

$SLERF is a MEME token based on the Solana blockchain, which rapidly gained popularity due to its unique narrative and community engagement. The founder of $SLERF accidentally destroyed crucial tokens, prompting a rescue mission to raise funds to compensate presale participants.

This action received positive responses from the community and several exchanges, including support from prominent individuals and influencers. $SLERF experienced drastic price fluctuations but managed to achieve a significant rebound in a short time, reaching new highs. Its narrative and market performance 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 their ability to capture and stimulate investor emotions. FOMO (Fear of Missing Out) is a particularly strong emotional response that plays a crucial role in the dissemination and valuation process of MEME coins. Below is a detailed description of how MEME coins capture emotions, especially triggering FOMO.

1. Viral spread of social media - rapid spread leads to panic chasing

MEME coins quickly garner attention through viral spread on social media platforms. A tweet about a MEME coin or a discussion thread on Reddit, if engaging or entertaining, can be widely shared in a short period.

This method of dissemination not only increases the visibility of MEME coins but also creates a sense of urgency within the community, causing people to fear missing out on the opportunity to participate in a potential hot project.

The viral spread of $DOGE began with a tweet on Twitter, issued by Elon Musk, calling it the “people’s cryptocurrency.” Musk has subsequently mentioned Dogecoin multiple times, becoming its de facto spokesperson.

According to statistics, each time Musk tweets about dog-related content, the price of $DOGE significantly rises in the short term. Many investors, driven by FOMO, fear missing out on the rise and urgently join the buying spree when Musk mentions Dogecoin.

2. Driven by the community and KOL - panic caused by missing out on credible potential benefits

MEME coins’ communities and key opinion leaders (KOLs) play significant roles in capturing emotions. Endorsements or recommendations from KOLs can swiftly elevate the credibility of a MEME coin, prompting community members to feel the necessity to participate to avoid missing potential profits.

Furthermore, active discussions within the community and sharing of success stories also enhance FOMO emotions.

3. Price and market performance - Chasing sentiment caused by the myth of getting rich in the bull market

Market price fluctuations and performance are direct factors that trigger FOMO. When the price of a MEME coin rapidly rises, investors fear missing out on the opportunity to profit. Speculation and news coverage in the market further amplify this emotion, leading more people to join the buying frenzy out of FOMO.

When the price of Bitcoin reached a historic high of $70,000, it signaled to many users that the bull market had arrived. This signal triggered FOMO emotions, causing many investors to rush to purchase various assets 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 engaging stories, MEME coins can establish emotional connections with investors, making them feel like they are part of a larger narrative. This emotional investment further strengthens FOMO emotions because investors do not want to miss out on 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 coins largely depends on their network effects, meaning that as more people join and use them, their value increases. Group psychology plays a crucial role here because people naturally tend to follow the behavior of the crowd. When individuals observe others participating and benefiting, FOMO emotions prompt more people to join in to avoid being left out.

6. Scarcity and time limit - create a sense of urgency to facilitate decision-making

MEME coin projects capture emotions by creating scarcity and urgency. For example, by having backing from prominent ecosystems or well-known investment institutions, receiving endorsements from multiple influencers, limited-time presales, exclusive airdrops, or special community events, MEME coin projects can generate a sense of urgency, compelling investors to take immediate action to avoid missing out on opportunities.

3. The impact of MEME on public chains

MEME coins have a significant impact on public chain ecosystems. They attract a large number of new users through the myth of getting rich with small funds and their social attributes, thereby increasing community activity and participation. This expansion of the user base brings more liquidity to public chains, especially in decentralized exchanges (DEXes), helping to reduce transaction costs and improve market efficiency.

The popularity of MEME coins also promotes ecosystem diversity, stimulates new DApp development and technological innovation, and drives the development of areas such as DeFi and NFTs. Additionally, MEME coins effectively increase awareness of public chains through viral marketing and social media dissemination.

However, the high volatility of MEME coins also introduces 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 health and sustainable development of the ecosystem.

Case Study 1:

$BOME is a MEME coin project launched on the Solana blockchain by Pepe MEME artist Darkfarm. The launch of BOME has had a significant impact on the Solana ecosystem, primarily in the following areas:

1. Community Engagement Boost: The presale and listing of $BOME on Solana garnered widespread attention within the Solana community, attracting a large influx of new users and investors to the Solana ecosystem. This phenomenon not only increased the trading activity on Solana but also enhanced its overall visibility in the cryptocurrency market.
2. Liquidity Pool Growth: $BOME injected a significant amount of funds into Solana’s liquidity pools through presale and airdrop activities. This not only provided more liquidity to Solana’s decentralized exchanges (DEXes) but also contributed to the trading depth and market vitality of other Solana projects.
3. Ecosystem Diversity: The successful listing of $BOME demonstrates the Solana ecosystem’s friendliness and support for MEME coin projects, which helps attract more similar projects to develop and launch on Solana, thereby increasing the diversity and innovation of the ecosystem.
4. Investor Confidence: The listing of $BOME and its subsequent market performance may affect investor confidence in the Solana ecosystem. On one hand, the success of $BOME may strengthen investor confidence in Solana projects. On the other hand, if $BOME experiences a price crash or other negative events, it may also impact the overall image of the Solana ecosystem.

Overall, the impact of $BOME on Solana is multifaceted, including positive community engagement and liquidity growth, as well as market volatility and changes in investor confidence. Solana’s ecosystem Total Value Locked (TVL) and capital inflow situation: Currently, Solana’s ecosystem TVL has exceeded $4.3 billion, with an increase of over 100% in the past month. If capital continues to flow in steadily, the overall ecosystem token price will further rise. At the same time, the speed of token listings on various exchanges for Solana tokens has significantly increased. The secondary market funds flowing into exchanges will indirectly affect Solana’s ecosystem TVL situation.

Case Study Two:

As the first true currency in Aptos, $DOODOO demonstrates its emphasis on innovation and community-driven development. Its launch appears to seek to create unique value within the Aptos ecosystem, reflecting the spread and influence of MEME coin culture on emerging public chains.

1. Enhanced Community Engagement: The listing of $DOODOO may attract MEME coin community members to join the Aptos ecosystem. These members are typically active on social media and cryptocurrency forums, and their participation can increase community engagement and user involvement in Aptos.
2. Increased Market Liquidity: Considering the recent trend of MEME coins bringing increased activity to Solana, MEME coins often quickly attract trading volume. The listing of $DOODOO may bring more liquidity providers and traders to Aptos’ decentralized exchanges (DEXs), thereby enhancing liquidity across the entire network.
3. Promotion of Innovative Applications: The successful listing of $DOODOO may inspire developers to build more innovative DApps and smart contracts on Aptos, especially in areas related to NFTs, gaming, and other fields associated with MEME culture.
4. Increased Media Exposure: MEME coins typically attract significant media attention. The listing of $DOODOO may attract more coverage from cryptocurrency news outlets and media, thereby bringing more exposure and awareness to the Aptos ecosystem, attracting the attention of more projects and traders to the chain.
5. Ecosystem Support for Projects: Public chain foundations support ecosystem projects through investments and token incentives. Subsequently, Aptos will continuously invest in ecosystem projects or provide incentives to users of ecosystem projects in the form of APT tokens, leading to sustained capital influx into the ecosystem.

In conclusion, the listing of $DOODOO in the Aptos ecosystem is likely to bring about a series of positive impacts, including enhanced community engagement, increased market liquidity, promotion of innovative applications, increased media exposure, expansion of user base, fostering ecosystem growth, and generating positive brand synergy effects. These effects contribute to the overall development and maturity of the Aptos ecosystem.

4.Master the wealth code, mine thousandfold coins in advance.

Although MEME coins lack traditional financial value or commercial applications, they still have explosive growth potential. The success of MEME tokens largely depends on community support and social media hype, which can bring significant returns for investors.

Choosing promising MEME tokens requires savvy monitoring of social media trends, community engagement, and early trading patterns to invest before they become viral content.

MEME tokens are high-risk, with only a few tokens achieving significant success. Most tokens experience rapid declines after short-term growth, so investors should approach such investments with caution.

When looking for MEME coins with high growth potential, investors can consider the following dimensions:

1. Target selection

To determine whether a MEME can become popular and go viral, it’s important to assess its cultural virality and the initial core user base (holders), along with its early community culture. Its imagery and name must be memorable.

MEMEs like $DOGE, $SHIB, and $PEPE have gained popularity in Web2, which contributes to their widespread dissemination and consensus formation in Web3.

2. Community activeness

An active community is key to the success of a MEME coin. Check the project’s social media platforms such as Twitter, Reddit, and Telegram to see if there are multiple Key Opinion Leaders (KOLs) endorsing it, and observe if the interaction among community members can induce FOMO (fear of missing out) sentiment. A community that is actively engaged and continuously growing may indicate promising development prospects for the project.

3. Project background

Research the team and developers behind the project to understand their experience and background. An experienced and transparent team, coupled with a comprehensive whitepaper and economic model, is more likely to drive the project forward.

4. Good narrative

Good storytelling inherently has intrinsic appeal. Breaking conventions and presenting information that challenges people’s mental frameworks can increase the intrinsic appeal of a MEME. In addition to breaking conventions, being mysterious and controversial can also enhance its intrinsic impact.

The recent sensation $SLERF has brought forth a brand new epic narrative. Typically, meme coin developers burn meme coins from the liquidity pool upon token launch. This move showcases to presale investors that developers won’t be able to extract liquidity from the pool, while also revoking the developer’s minting rights, ensuring they can’t control the token’s circulation. Hence, this step is often regarded as crucial bullish news for the token.

The founder of $SLERF revealed on Twitter that he accidentally destroyed the tokens $SLERF reserved for airdrops in his wallet, along with 535,000 $SOL tokens raised in the presale, and lost his minting rights. This effectively drained liquidity, and this unexpected event triggered dramatic market volatility for the $SLERF token, attracting significant funds and community attention.

Despite experiencing sharp price fluctuations, the hype around SLERF remains strong. The founder maintained community interest by hosting events in space and using self-deprecating humor. Subsequently, $SLERF launched a fundraising campaign, aiming to raise $10 million to compensate presale participants, garnering support from Sun Yuchen, LBank, and multiple exchanges.

In addition to the donations initiated by the founder, numerous influencers on platform X and several exchanges have shown interest or actively responded to SLERF’s activities. The continuously evolving story has brought SLERF a steady stream of excitement, positioning it to create new milestones in the MEME coin market.

Currently, $SLERF is listed on exchanges such as Bybit, Gate.io, LBank, and Bitget, and has surpassed $BOME to become the third-largest meme coin by market capitalization within the Solana ecosystem.

5. Partners and Supporters

Check if the project has well-known partners or supporters, such as public chains, cryptocurrency exchanges, investment funds, or industry influencers. The endorsement of these partners may increase the project’s credibility and attractiveness.

6. Data tracking

Utilize on-chain bots and other tools to monitor tokens with rapidly increasing address counts and active trading volumes. Analyze on-chain data by monitoring early addresses or addresses with the largest holdings to analyze their buying and selling behavior. If there is a significant sell-off detected from early addresses, consider selling or reducing positions accordingly.

7. Whether it has practical value

MEME coins initially rely on cultural narratives and speculative fervor to build market consensus, but as the market becomes saturated, they must pivot towards practical applications to sustain growth. For example, $DOGE achieved functionality by serving as a means of payment, while Shiba Inu introduced an ecosystem including ShibaSwap and NFT platforms after its market cap growth, aiming to expand its value and user base.

Investing in MEME coins typically comes with higher risks, so it’s important to diversify your investment portfolio and not allocate all funds into a single asset. Additionally, only invest an amount you are willing to lose and be prepared for long-term holding.

5. Summary and Outlook

Summarize:

Recent performance of MEME coins demonstrates their unique position and influence in the cryptocurrency market. Their rapid price fluctuations, narratives of wealth accumulation, and community-driven nature have attracted widespread attention.

The popularity of MEME coins often coincides with cultural phenomena and market hype. Taking the recent activity in the active Solana ecosystem as an example, the launch of Backpack Exchange and Jupiter’s airdrop activity injected new vitality into MEME projects within the Solana ecosystem, drawing significant attention from users and funds.

These activities not only increase the liquidity of MEME tokens but also enhance market interest in the Solana ecosystem. Solana’s low gas fees and high-performance characteristics provide an ideal platform for MEME projects. This technological advantage makes Solana more efficient in handling a large number of transactions, reducing the barriers to entry for users and laying the foundation for the popularity of MEME projects.

Moreover, unique marketing strategies, such as the activity where purchasing Saga Web3 phones results in receiving BONK tokens, also promote the popularity of BONK tokens within the Solana ecosystem. This combination of physical products and digital assets in marketing provides new avenues for promoting MEME tokens in the market, while showcasing the potential of integrating MEME culture with the real world. New concepts like AI+Crypto integration also bring new growth opportunities for MEME projects.

However, this rapid growth often comes with high risks, especially driven by market sentiment and FOMO (Fear of Missing Out), resulting in significant price volatility and presenting challenges for investors.

Outlook:

The future development of MEME coins may increasingly focus on technological innovation and deeper community involvement. With the continuous advancement of blockchain technology, MEME projects may integrate more smart contract functionalities, cross-chain interoperability, and decentralized finance (DeFi) applications, thus providing a richer user experience and value creation.

Community-driven MEME projects will continue to enhance user engagement and loyalty through forms such as NFTs, gaming, and social interactions, forming a more robust community foundation. Community building and cultural identity will remain key to MEME success, as strong community consensus can provide lasting vitality to projects.

Additionally, as regulatory environments become clearer, compliance will become an important factor in the long-term survival of MEME projects. Investors and market participants’ understanding of MEME coins is also likely to mature, leading to rational investment decisions and value-based holding becoming mainstream.

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