Paradigm innovation continues, revealing the popularity of MEME in this bull market round.

[TL;DR]

⭐️ As of the time of writing, the total market value of MEME tokens in the sector has reached $63.8 billion, accounting for 2.4% of the total cryptocurrency market value, and 7 of the TOP10 MEME tokens were born in this bull market.

⭐️ The MEME section has seen many innovative highlights in many aspects, no longer serving as a speculative product that filled the mainstream narrative gap with pure emotional overflow in the past bull market.

⭐️ In this bull market, the MEME sector has shown features such as de-VC-ization, diverse mechanism gameplay, continuously upgrading narrative themes, and exemption from review.

Introduction

We have discussed the MEME craze multiple times before, pointing out that in this bull market, there have been some new paradigm innovations in MEME, making it no longer purely a speculative token. This article will start from the concept and cultural background of MEME, combined with specific cases, to deeply analyze the innovative highlights of MEME in this bull market, look forward to its future prospects, and reveal potential risks.

1 Memecoin brings encryption into Zootopia?

MEME, MEME, meaning to imitate or replicate, spread through imitation in human culture. This concept, derived from the ancient Greek word "mimeme", was proposed by the British scientist Richard Dawkins in his work "The Selfish Gene", and quickly took root and sprouted in Internet culture, becoming a unit of cultural inheritance.

In the Internet era, MEME culture has witnessed unprecedented development, ranging from simple texts and images to videos, GIFs, and other forms. With its humor, creativity, and viral nature, MEMEs have won the love of countless netizens.

In this round of Bull Market, the convergence of MEME coin and encryption community-driven forces has sparked unprecedented innovation. encryptionCutting-edge buzzwords such as "fair launch", "mutual dumb buying", "inscription", "rune", "celebrity coin", "cat" and other cutting-edge buzzwords are inextricably linked with k MEME, and this kind of MEME in terms of marketing communication, utility empowerment, and mechanism innovation has improved qualitatively and quantitatively compared with previous rounds of Bull Market, and has become the zone with the strongest sustainability in the current market heat.

We are delighted to find that there are more interesting brand images and viral marketing-oriented currencies, such as dogwifhat (WIF), Cat in a dogs wolrd (MEW), MAGA (STRUMP), Book of MEME (BOME), etc. These popular cat, dog, or character-themed MEMEs have quickly become popular on social media and have become the most popular and unique investment varieties.

Figure 1 Source: Gate.io

As of the writing date, the total market value of MEME tokens in the MEME sector reached $63.8B, accounting for 2.4% of the total cryptocurrency market value. Among the top 10 MEME tokens, 7 of them were born in this bull market, and the well-established FLOKI has also gained more market value through continuous innovation and empowerment.

2 Highlights Discussion: Can MEME also have paradigm innovation?

Upon closer inspection, this round of bull market MEME sector has many innovative highlights in many aspects, no longer serving as a speculative product that fills the mainstream narrative gap purely on emotional overflow as in the past bull market, but instead becoming a brand new independent narrative sector.

2.1 Community-driven and Decentralization:

The theme of this bull market revolves around community-driven and de-VC-ization, with 'no cross-trading' becoming an important feature of the new bull market.

The super bull market driven by community tokens has been particularly evident this year, reflecting the awakening of community power in the cryptocurrency market.

The most typical token is PEPE, which was originally spread and driven by the Pepe Frog fan community, and then recommended by KOLs such as Musk. It quickly became the third largest MEME in terms of market value, second only to Doge and Shiba. The number of token holders is nearly 240,000.

2.2 Comprehensive Three-dimensional Communication:

The social nature of MEME is one of the keys to its success. By spreading through social media and social networks, MEME can quickly attract a large number of users' attention and participation, thereby driving up the currency price.

For example, the token RATS, with a market value only second to ORDI and SATS, owes a lot to the community for the frequent marketing efforts on Twitter in March and April this year.

Figure 2 Source: @Bitrats_org

2.3 Diverse Mechanism Gameplay:

The diversity of MEME is reflected in its forms of expression and gameplay mechanisms, these interesting innovative points become the unique selling points of MEME.

The gameplay mechanism of MEME is constantly innovating, including @Darkfarms pioneering the fair practice of directly sending SOL to a designated address for presale participation, not retaining funds for oneself but all into the LP pool, which has fired up BOME. @Slerfsol then destroyed the LP and airdropped reserved tokens, pushing SLERF to the hottest trend of self-raising MEME, etc. These innovative gameplay methods have provided more possibilities for the development of MEME's "fair launch".

Figure 3 Source: @justinsuntron

At the same time, the diversity of MEME is also reflected in its application fields, such as the Trump-named token MAGA (Trump), which donated 436.5 ETH to American veterans and children's rescue organizations.

2.4 The narrative space continues to upgrade:

The outbreak of MEME is not limited to a single theme of MEME currency, but presents a trend of batch and paradigm.

Broadly speaking, Ordinals ignited the ordinal inscription trend last year, and the token inscriptions of various public chains such as ORDI, ETHS, AVAX can be considered as the MEME of the inscription series, and then @Darkfarms popularized the direct payment issuance method of a group of MEME.

Recently, the concept of presidential election coins and celebrity series celebrity coins has risen again. In the second half of this year, the United States will usher in a new president, and MEME tokens closely related to the names of former and current U.S. presidents such as Maga (TRUMP), Jeo Boden (BODEN), and Doland Tremp (TREMP) continue to heat up. The token naming rules have quickly overflowed from the president to various celebrity names, and members of the Kardashian family, Caitlyn Jenner, American rapper IGGY AZALEA, Nigerian rapper Davido, and other celebrities have all entered the cryptocurrency market and launched their own MEME coins, especially JENNER and MOTHER are the most well-known.

Figure 4 Source: @Caitlyn_Jenner

It can be said that the gameplay and strategy of MEME are constantly innovating, providing investors with more opportunities to participate. At the same time, the wealth effect of MEME is particularly significant in this bull market. The market value of MEME coins has grown rapidly, attracting a lot of attention and participation from investors.

2.5 Narrative Exports Under Regulatory Challenges:

In the context of global strict regulation, the MEME sector has gained more popularity due to its lack of advantages such as being subject to legal regulation.

Opportunities and Challenges in the Spotlight

From the above, it can be seen that the rise of MEME coin is completely different from the hot trend mode of MEME in the past bull market cycle. In this cycle, these coins that integrate entertainment and cultural elements, represented by PEPE, have particularly eye-catching price performance, and the number of high-popularity MEMEs is emerging in endless numbers. Relying on its unique market charm and sustained popularity, MEME coins are gradually becoming the new favorite of investors.

As Andrew Kang, co-founder and partner at Mechanism Capital, said, "The pump up and down of various meme coins is no longer an indicator of the apex of the market because the meme coin is no longer the last link as a zone. In fact, they are the most trusted zone for new capital allocators. Memes have led the market and will continue to lead the market."

Image 5 Source: @Rewkang

From the current market situation, MEME coin has indeed shown impressive potential. Its price increase, the number of popular coins, and the lasting popularity far exceed other currencies, successfully attracting the attention of many investors.

It is worth mentioning that with the deepening popularity of social media and the Internet, the influence of MEME culture has been expanding globally, which provides a solid support for the vigorous development of MEME coins.

Of course, despite the huge investment potential and market prospects of MEME coin, investors still need to maintain a cautious attitude and fully understand the risks and challenges involved.

First, due to the market volatility of MEME coin far exceeding that of other sectors, and being greatly influenced by market sentiment, investors need to have a certain risk tolerance and psychological quality.

Secondly, as the value of MEME coin largely depends on the innovation vitality and user participation of the community, the stagnation of community development or the weakening of project innovation may lead to the loss of attractiveness of MEME coin and a drop in price.

In addition, the MEME token in the sector has a very low barrier to entry and there are still many new MEME coins that are created with the purpose of 'harvesting'.

In short, as a new force in the field of cryptocurrency, MEME coin has quickly become the focus of the market with its unique charm and viral dissemination. However, investors still need to remain cautious when choosing MEME coin and fully understand the risks and challenges involved, and should comprehensively evaluate various factors such as project background, team strength, community activity, and market trends.

Author: Carl Y., Gate.io Researcher

This article represents only the author's point of view and does not constitute any trading advice.

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