The Over-Glorification and Misleading of Meme Cycle Narratives

Recently, a highly watched new star has emerged in the cryptocurrency field. This investor, who entered the crypto industry in 2016, despite not having a successful early investment experience, has found a new positioning this year - as a builder of the meme coin narrative.

He studies meme coins from the perspective of first principles and shares trading insights and potential targets within the community. With the circulation of a "Super Meme Cycle" target list and multiple explanations of this concept, he is gradually seen as an authority on the new generation of meme coins.

The analyst presented a series of viewpoints to support the arrival of the "Super Meme Cycle":

1. Traditional value coins have oversupply, overvaluation, but poor performance.
2. Value coins are mainly dominated by institutional investors, making it difficult for retail investors to benefit.
3. Value coins have a valuation ceiling due to their clear business model.
4. Meme coins are purer compared to value coins, focusing on community and tokens.
5. Meme coins provide various emotional values, such as fun, a sense of belonging, and a sense of participation.

He also provided the criteria for filtering Meme coins:

• Market capitalization between 5 million and 200 million dollars
• Mainly on the Solana and Ethereum chains
• At least six months of history

However, these standards appear to be relatively broad and arbitrary.

While there are certain merits to the criticisms of traditional value coins, the market has already punished poor-quality projects through price declines and the failure of new projects. What is truly questionable is the overly idealized portrayal of the Meme cycle.

Retail investors actually do not have the ability to dominate the direction of Meme coins. The so-called identity recognition and cultural value often struggle to persist in the face of investment losses. The success of Meme coins relies more on market manipulation and the influence of opinion leaders, rather than so-called "community culture."

Essentially, Meme coins have no fundamental difference from the value coins they are criticized for; both are difficult to escape the shadows of speculation and manipulation. We should look at this phenomenon more rationally and objectively, rather than blindly following new narratives.