🐶 Memecoin Chronicles: Past, Present and Future 🐸
As cryptocurrencies recover from the bear market, new memes, cultures, ideas, and ecosystems are popping up. Memecoin is one of the few categories that continues to gain traction (volume, market cap appreciation, social interest) and has seen a recent surge in interest.
🐸 Each cycle has some form of Memecoin
Depending on the underlying technology (PoW coin vs ERC20 vs NFT), Memecoin takes different forms, and they are one of the earliest "applications" of new technologies or form factors.
Although Memecoin has a variety of different types of mediums, they accumulate value in the same way: they all need attention, narrative, and hype to survive and spread.
⭐️ Some common patterns:
· The meme comes first, the token comes last, and the low price itself is a kind of meme;
· Strong community + marketing, organic posting to a dedicated team;
· Strong imagery, derivative imagery, and slogan transmission.
💰 With a total market capitalization of over $60 billion and a daily trading volume of over $13 billion, Memecoin has tremendous financial value. Since the meme's only function is to spread into other people's minds, capturing the next meme early can be a lucrative opportunity.
🙏🏻 Creators and investors "work for memes" by spreading their influence and are rewarded by early believers in the process.
⚠️ Common risks with Memecoin are rug pull and pump-and-dump, which happen almost every day on the decentralized network through Memecoin.
It's important to check some of Memecoin's key characteristics, such as the status of LP tokens (are they burned or centrally held?), team allocations, transfer taxes, and whether or not contracts are abandoned. At the same time, there is a lack of clarity in the regulation of Memecoin.
The other major concern is that memes may not "survive", purely due to a lack of interest, attention, and thought sharing, rather than any malicious behavior. These investment losses can create hostile or apathetic communities for holders.
(Source 1kx, the original article is in English, the content has been deleted, and only represents the author's point of view)