From "shitcoin" to "Trump coin": The Past and Present of MeMe coin

The wonderful intersection of internet culture and finance has given rise to the unique category of crypto assets known as MeMe coin. They draw inspiration from internet memes, driven by humor and community consensus, and have grown from obscurity to a market capitalization of billions of dollars in just a few years. This article will take you deep into the origins, development journey, operational mechanisms, and future prospects of MeMe coin.

The Origin of MeMe Coin: Started with "Doge"

The birth of MeMe coin can be traced back to 2013, when two software engineers, Billy Markus and Jackson Palmer, created Dogecoin as a joke. Dogecoin was inspired by the popular "Doge" meme at the time, with its logo featuring an image of a Shiba Inu.

Initially, Dogecoin was primarily used for the "tip" function on social media platforms. However, it quickly attracted a loyal following, forming a vibrant community. Surprisingly, the Dogecoin community also demonstrated a spirit of charity, raising funds for various public welfare projects.

In 2021, with the help of celebrities like Elon Musk, Dogecoin became a global hotspot, with a market value exceeding $88 billion. This project, which initially started as a joke, surprisingly accumulated such a huge influence within a few years, laying the foundation for the emergence of many subsequent meme coins.

From Pets to President: The Diversified Development of MeMe Coin

After the success of Dogecoin, various meme coins themed around cute animals, characters, current events, or popular memes have emerged one after another. Among them, some of the more notable include:

• Shiba Inu coin ( Shiba Inu, SHIB ): Known as "Dogecoin killer", launched in 2020.
• Bonk coin ( BONK ): The first dog-themed meme coin in the Solana ecosystem.
• Pepe coin ( Pepe, PEPE ): Inspired by the "Pepe the Frog" meme.
• dogwifhat(WIF): The logo features a Shiba Inu wearing a pink knitted hat.

In addition to animal themes, political figures have also begun to venture into the MeMe coin space. For example, the $TRUMP coin launched by Donald Trump and the $Melania coin by Melania Trump. These politically related MeMe coins blur the lines between political campaigns, internet culture, and financial speculation, bringing new opportunities and risks.

In addition, some AI-inspired MeMe coins have emerged, such as Dawgz AI. The world of MeMe coins is constantly expanding and evolving, reflecting the diversity and innovation of internet culture.

The Operating Mechanism of MeMe Coin

Although it seems like a joke, MeMe coin still relies on the solid foundation of blockchain technology. Most MeMe coins operate as tokens on existing blockchains, such as Ethereum ( ERC-20 standard ) and Solana ( SPL token standard ). This allows them to be quickly developed and utilize existing blockchain infrastructure.

The value of MeMe coin is primarily driven by social and cultural factors rather than technological innovation or practical applications. Their success largely depends on community consensus and market sentiment.

"Tokenomics" is the key to understanding how MeMe coin operates, mainly including:

• Supply: Usually very large or even unlimited
• Distribution methods: such as airdrops, presales, etc.
• Unique Mechanism: such as token burning

It is noteworthy that the threshold for creating MeMe coin is very low. Many tools and platforms make it easy for anyone to issue their own MeMe coin. Although this low-threshold characteristic promotes innovation, it also increases market risks.

Community is King: The Madness of Social Media and MeMe Coin

In the world of MeMe币, the power of online communities is crucial. Active communities on platforms such as Twitter, Reddit, Discord, and Telegram play a decisive role in the success of MeMe币. It is these vibrant communities that drive the popularity and value increase of MeMe币 by continuously creating and sharing relevant content.

The value of MeMe coin largely depends on the collective belief and enthusiasm of its online community. Social media platforms have become a hotbed for hype, and viral spread can quickly drive up prices. Additionally, the "fear of missing out" ( FOMO ) sentiment is also an important factor driving people to invest in MeMe coin.

Social media influencers and opinion leaders often become boosters of the MeMe coin craze. A single tweet or video from them can generate significant attention and purchases in a short period, thereby significantly affecting the price trend of MeMe coin.

"Diamond Hands"(Diamond Hands) is a popular term in the MeMe coin community, referring to investors who hold onto their assets even when prices are falling. This "never give up" spirit creates a strong social pressure within the community, encouraging members to maintain their faith.

Celebrity Effect: When celebrities and the president tweet "endorsements"

The price of MeMe coin is often driven by the viral spread on social media, with celebrity endorsements acting as a catalyst. High-profile celebrities can quickly attract a large amount of attention through social media posts, especially among their fan base, many of whom are newcomers to cryptocurrency and may easily purchase related coins due to FOMO, resulting in a significant short-term price increase.

Some celebrities that have a significant impact on the MeMe coin market include:

• Elon Musk: His tweets have repeatedly triggered significant fluctuations in the price of shitcoin.
• Snoopy Shitcoin: Supports Shitcoin and launches related projects
• Gene Simmons: self-proclaimed "dogecoin god", invests in various crypto assets

The participation of political figures has introduced a new dimension to MeMe coin, but it has also brought higher risks and controversies. For example:

• The $TRUMP coin launched by Donald Trump once caused huge fluctuations.
• The "CryptoGate" incident was triggered after Argentine President Javier Milei promoted $LIBRA coin.
• Melania Trump's $Melania coin has also experienced great ups and downs.

These cases show that celebrity endorsements can quickly ignite the market, but the impact is usually short-lived, with price fluctuations like a roller coaster. The potential conflicts of interest behind celebrity endorsements and the lack of transparency have also raised concerns.

The Price Fluctuation and Speculative Appeal of MeMe Coin

MeMe coin is known for its extreme price volatility, making it a high-risk, high-reward asset class. Its price is often driven by speculation and market sentiment rather than fundamental value. For example, the price of shitcoin soared nearly 300% within 72 hours, only to rapidly plummet by 80% shortly thereafter.

The attractiveness of MeMe coin mainly comes from the following aspects:

• Low threshold: The unit price is usually very low, allowing small investors to buy in large quantities.
• High speculation: Price fluctuations are severe, providing opportunities for short-term trading.
• Community Effect: The powerful strength of the community can quickly drive up prices.
• Viral Spread: The hype on social media can trigger sudden price surges.

However, this extreme volatility also brings significant risks. Market manipulation behaviors, such as "pump-and-dump"( and "rug pull"), are relatively common in the MeMe coin space. Investors need to remain extremely cautious and conduct thorough due diligence.

How to discover the next popular MeMe coin?

Finding potential popular MeMe coins requires considering multiple factors:

1. Timing: Pay attention to tokens that are beginning to ferment in the community but have not yet been widely noticed.
2. Track new coin listings: Pay attention to new coin information from DEX and launch platforms.
3. KOL Tool Monitoring: Use various tools to monitor influential opinion leaders.
4. Data Tool Combination: Use multiple platforms to comprehensively analyze project popularity and social activity.
5. Address monitoring and following: Track the "diamond hands" addresses verified by the market.
6. Exchange Listing and Market Accessibility: Ensure that the token can be traded on major exchanges.
7. Scarcity and Fair Token Economics: Focus on Issuance Mechanism and Circulating Supply
8. Cultural and Emotional Relevance: Finding Themes with Viral Spread Potential
9. Celebrity Endorsement: Pay attention to the support of influential figures
10. Innovation and practicality: Although not as important as other factors, they are also worth considering.

Future Outlook of MeMe Coin

Regarding the future of MeMe coin, there are currently differing opinions. Supporters believe that MeMe coin may develop practical uses, such as becoming a governance token for specific communities. Critics argue that MeMe coin lacks intrinsic value and will ultimately disappear.

Some established MeMe coins like Dogecoin and Shiba Inu have built significant market capitalizations and loyal communities, indicating that they may have some sustainability. They have played a role in driving community engagement and attracting new users into the cryptocurrency space.

In the future, MeMe coin may undergo deeper integration with emerging technologies such as NFTs and the metaverse, creating new application scenarios. However, regulatory agencies may increase their attention to the MeMe coin market, and more regulatory measures may be introduced in the future.

Overall, the future of MeMe coin is filled with uncertainty, but with its unique cultural genes and strong community foundation, it may find its place in the broader financial world and continue to write its legendary story full of "mystery" and "enlightenment."