Author: Preface Observation

PART00, Introduction

Imagine that your favorite online emoticon package suddenly becomes a digital currency that can be traded. Doesn’t it feel both absurd and interesting?

They seem to be the product of jokes, but they can occasionally climb to a market value of billions of dollars, making many people scream that they can't understand. The value of these digital assets is largely driven by jokes on the Internet, the popularity of social media and the consensus of online communities. Doesn't it sound like a big joke?

But this is MeMe currency, a strange phenomenon that was born from the Internet humor but can cause waves in the financial market. In fact, these seemingly inappropriate digital things are attracting a lot of capital and attention at an jaw-dropping speed. This article will take you into the wonderful and crazy world of MeMe coins, and gain an in-depth understanding of their ins and outs and the future they may lead to.

PART01. Started with "Doge": The origin of MeMe coins

MeMe coins, as the name suggests, are those cryptocurrencies that are inspired by the Internet. Their births are often full of banter and entertainment, which are essentially different from traditional cryptocurrencies that boast disruptive technologies or solve practical problems. You may see all kinds of animal avatars, popular memes, and even celebrities being printed on these digital currencies. Their existence seems to be to make a smile and see if it can cause a little turmoil in the market.

However, it is this seemingly "unreasonable" characteristic that has become the unique charm of MeMe coins. They do not have complex mining mechanisms and total volume restrictions like Bitcoin, nor do they try to build a huge decentralized application ecosystem like Ethereum. The value of MeMe coins often comes from community consensus and the virality of social media. A popular emoji, a tweet that resonates, or even just a joke, may make an unknown MeMe coin instantly popular, and the price will also rise. This phenomenon seems difficult to understand at first glance, but it just reflects that in the digital age, the influence of social and cultural factors on the financial market is increasing. People's curiosity about novel things, their desire for community belonging, and their dream of getting rich quickly are all reflected to some extent in the world of MeMe coins. This may also indicate that in the future financial field, entertainment, community participation and viral transmission will become a force that cannot be ignored, attractingA new generation of investors who may not be interested in traditional financial instruments.

If you want to talk about the founder of MeMe coins, it is definitely Dogecoin.

This cryptocurrency, created by software engineers Billy Markus and Jackson Palmer in late 2013, was originally born just a joke. Palmer publicly mentioned Dogecoin for the first time on November 28, 2013, and he jokingly said on Twitter that “Investing in Dogecoin, I’m sure this is the next big event.” And its inspiration comes from the "Doge" emoticon package that was popular on the Internet at that time - a picture with a Shiba Inu avatar printed with bright colors and funny fonts. Palmer then created the Dogecoin.com website, while Marcus completed Dogecoin development in just three hours, spending much of his time changing the client's text to Comic Sans fonts. The two founders may not have expected that this joking project would quickly become popular and gained amazing attention and users in just a few weeks.

Early Dogecoin was mainly used for "reward" on social media platforms such as Reddit and Twitter, and users can reward creators who publish interesting or valuable content with a small amount of Dogecoin. This relaxed and pleasant atmosphere attracted a loyal following and formed a vibrant community. Unexpectedly, Dogecoin’s early communities also showed charitable spirit, for example, in 2014, they raised $25,000 for the Jamaican sled team that failed to obtain enough funds to participate in the Sochi Winter Olympics and donated $30,000 to Kenya’s clean water project.

It is worth mentioning that before Dogecoin, Billy Marcus also created another cryptocurrency called Bellscoin in 2013, inspired by Nintendo's game "Animal Crossing". Dogecoin is actually forked from Bellscoin's code.

In 2021, Elon Musk mentioned DOGE many times on Twitter, pushing it to a global boom. The price once soared by more than 8,000% and its market value exceeded US$88 billion. This initial joke project actually gradually accumulated huge market value and in the following years,Influence. This fully demonstrates that if a seemingly unserious project can be cleverly combined with popular online culture and form a strong community consensus, it can also achieve unexpected success and lay the foundation for the subsequent emergence of many MeMe coins.

PART02. From cute pets to president: the wild evolutionary history of MeMe coins

After Dogecoin's unexpected success, various MeMe coins emerged like mushrooms after a rain, as if the cryptocurrency world experienced a "Cambrian life explosion", and various digital currencies with cute animals, characters, current events or popular memes emerged one after another. The most notable of these are Shiba Inu (SHIB), which is often called the Dogecoin Killer, launched in August 2020. Shiba Inu Coin is also based on Shiba Inu as the theme, trying to replicate Dogecoin's success and established its own huge community "SHIB Legion". Bonk Coin (BONK) on the Solana Chain is another rapidly rising MeMe coin, launched in late 2022 and is the first dog-themed MeMe coin in the Solana ecosystem. Another highly-watched MeMe coin is Pepe (PEPE), which reignited people's enthusiasm for MeMe coin in 2023, inspired by the famous "Pepe Frog" emoji pack. In addition, there are rookies like dogwifhat (WIF), whose signature is a Shiba Inu wearing a pink knitted hat.

In addition to these "old" powerhouses, new players are constantly emerging in the world of MeMe coins, and their sources of inspiration are also more diverse. For example, various zoo coins such as the cat-themed MeMe coins "Popcat" and "MEW". Characters have also entered the MeMe currency field, with the $TRUMP coin officially announced by Donald Trump, whose market value once soared to $14.5 billion, but plummeted after he took office. Melania Trump also launched his own MeMe coin, $Melania, and by February 2025, the value of the coin had dropped by 90%. Other MeMe coins related to characters, such as $BODEN, $LIBRA, $CAR, characters participate in issuing MeMe coins introduce a new dimension, and the currency created and promoted by characters blurs the boundaries between movement, Internet culture and financial speculation, creating "unique risks" and opportunities. In addition, there are MeMe coins inspired by artificial intelligence, such as Dawgz AI. 2021In October, only 124 MeMe coins were circulated on the market, and by February 2025, millions of MeMe coins had emerged on platforms such as Pump.fun alone.

PART03. How does digital happy coins work?

While MeMe coins seem like a joke, they still rely on the solid foundation of blockchain technology. Simply put, blockchain is like a shared digital ledger, recording every transaction securely and transparently. Most MeMe coins run as tokens on existing blockchains, such as Ethereum (follows the ERC-20 standard) and Solana (follows the SPL token standard). This makes them more rapidly developed and able to leverage the infrastructure of existing blockchains.

While some MeMe coins may claim to have certain unique technical characteristics, their value and popularity are mainly driven by social and cultural factors rather than technological innovation or practical applications. Unlike crypto projects that are committed to developing new technologies or solving practical problems, MeMe coins are more like a social phenomenon, with value derived from community consensus and market sentiment. Therefore, when evaluating MeMe coins, technical analysis often seems less important, while focusing on the community power and network popularity behind it is even more critical.

"Token Economics" is also the key to understanding how MeMe coins operate. It mainly includes the supply of tokens (usually large or even no upper limit, such as Dogecoin mines 10,000 SG coins per minute and there is no total limit), distribution methods (such as airdrops to community members for free, like Bonk coins, or through pre-sales, etc.), and any unique mechanism, such as token destruction (increasing scarcity by reducing circulation, such as PePecoin and Shiba Inu coins). For MeMe coins like Dogecoin, mining is still the way to generate new coins (it uses the proof-of-work mechanism of the Scrypt algorithm, which consumes less energy compared to Bitcoin’s SHA-256 algorithm). A wide variety of token economic models show different ways to manage inflation and perceived value.

It is worth noting that the threshold for creating MeMe coins is very low, and many tools and platforms, such as Pump.fun and Moonshot on Solana, make it light for anyoneSmoothly publish your own MeMe coins by entering a name, code, and image. This extremely low threshold explains the huge number of MeMe coins on the market. While this easy-to-create feature promotes innovation and allows for rapid experimentation of new ideas, it also makes the market vulnerable to a large number of low-quality tokens and potential scams, as there is usually little review process.

PART04. MeMe's growth and explosion: Solana

The rise of Meme coins is due to social media hype, community-driven support, and their attractiveness as low-threshold investments for new crypto enthusiasts. Meme coin project platforms such as Solana or Ethereum have played a key role in this growth, providing the technical infrastructure needed to create and trade these tokens at scale.

While Ethereum is the birthplace of many early meme coins such as Shiba Inu, the high gas fees and congestion of the network often presents major challenges for developers and investors. As a high-performance blockchain, Solana has become a game changer for the meme coin project. The most eye-catching advantage of Solana is its lightning-fast trading speed, up to 65,000 transactions per second, and transaction fees are extremely low, usually less than a cent. This efficiency has attracted a wave of developers and investors, leading to a surge in Solana-based meme coin activity. Solana is therefore dominating the meme currency market, making it the first choice for new and old crypto projects aimed at taking advantage of this growth trend.

You can liken Solana to a cheap airline in the crypto world—fast, low-cost, perfect for those quick, impulsive decisions. This makes Solana very suitable for the high trading volume and high risk trading characteristics of Meme coins. In addition, it is partly thanks to the token launch platform Pump.fun, which has led to the deployment of more than 8 million tokens since its launch in early 2024.

But in February this year, the LIBRA token scandal triggered by Argentina President Javier Milei affected other core protocols on the fast, cost-effective blockchain, causing other Solana meme leaders to drop sharply in recent months, with their token price also falling from peak 298 to $123.

Nevertheless, some traders believe that the end of MeMe is coming, Pump.fun's trading and token publishing platform still maintains more than 150,000 daily active addresses.

In addition to Solana, BSC is also actively embracing MeMe. Recently, under the resonance of the influence of Abu Dhabi sovereign fund MGX injected US$2 billion into Binance and Zhao Changpeng, coupled with the integration of Binance's main site, BSC's Meme ecosystem has exploded.

PART05. Community is the kingly way: Social media and MeMe coin fanaticism

In the world of MeMe coin, the power of online communities is also very powerful. Active communities on platforms such as Twitter (now known as X), Reddit (Dogecoin has over 1.6 million subscribers), Discord and Telegram are crucial to the success of MeMe coins. Shiba Inu has over 3.9 million followers on Twitter, Pepe has over 766,000, Bonk has quickly accumulated over 500,000 followers, while Floki Inu has over 475,000. It is these dynamic communities that drive the popularity and value of MeMe coins by constantly creating and sharing emoticons and viral content related to MeMe coins.

MeMe coins are valued largely on the collective beliefs and enthusiasm of their online community. Social media platforms are a hotbed of hype, with viral emoticons and synergistic efforts able to quickly raise prices. This community-driven valuation contrasts sharply with traditional financial assets, whose value is often associated with fundamentals and actual utility. In addition, the sentiment of "fear of missing out" (FOMO) is also an important factor driving people to invest in MeMe coins.

When the price of a MeMe coin rises rapidly, many people will worry about missing opportunities and blindly follow the trend to buy, even if they do not have an in-depth understanding of the project itself. Internet celebrities and opinion leaders on social media have also often become the booster of the MeMe coin craze. One of their tweets, a video, or even just an emoji can trigger a lot of attention and purchases in a short period of time, which significantly affects the price trend of MeMe coins.

"Diamond Hands" is a popular term in the MeMe currency community, referring to thatInvestors who insist on holding assets even when prices fall. This spirit of "never give up" creates a strong social pressure in the community, encouraging members to maintain their beliefs and not sell them easily.

However, this dependence on social emotions also makes MeMe coins extremely susceptible to sudden changes in public opinion. In essence, the community becomes the "currency" that determines the value of these digital assets.

PART06. Celebrity effect: When celebrities and presidents tweet "endorserialization"

MeMe coins are often driven by the viral spread of social media, while celebrity endorsements are the catalyst. Research shows that high-profile celebrities can quickly attract a lot of attention through X posts, especially among the fan base, many of whom are cryptocurrency newbies, and are prone to buying related currencies due to FOMO, resulting in a significant price increase in the short term.

Elon Musk: As a technology superstar, Musk's X post has a profound impact on MeMe coins. In February 2021, he changed the introduction of X to "DogeCoin CEO", and Dogecoin price soared by more than 1,000% that week, from $0.007 to $0.087. However, he also faces investor class action lawsuits for promoting Dogecoin, questioning its conflict of interest.

Snoop Dogg: Rapper Snoop Dogg's association with MeMe coins includes supporting Dogecoin and launching related projects, such as Thug Life Coin in 2023, attracting nearly $50,000 in investment. His X posts often spark heated discussions in the community and drove prices to rise in the short term.

Gene Simmons: KISS lead singer Simmons calls himself the "God of Dogecoin". In February 2021, X post claimed to have purchased a large amount of Dogecoin, and the price immediately rose by 55%, hitting an all-time high of $0.084. He also invested in other crypto assets such as Cardano’s ADA.

Donald Trump: On January 17, 2025, Trump announced the $TRUMP coin on X and Truth Social, and the logo is the image of raising a fist after the attempted assassination in July 2024. The price on the first day soared from $6.50 to $7.427, with a market value of $27 billion at one point. But after taking office, the price collapsed and fell to $1.174 on March 17, 2025, with a market value of about $2.35 billion. Ethical experts criticized its conflict of interest, calling it a "presidential conflict of interest."

Javier Milei: On February 14, 2025, Milei promoted $LIBRA coins in X posts, claiming to support Argentine entrepreneurs. The price rose from $0.216 to $5.54, with a market value of $4.56 billion at one point, but Milei deleted the tweet several hours later caused a 94% plunge and investors lost more than $250 million. On March 17, 2025, it fell to $0.08, with a market value of only $21.62 million. The incident was called "Cryptogate", triggering legal investigations and calls for impeachment.

Melania Trump: The $Melania coin was launched on January 20, 2025, with a first-day price rising from $7 to $13, but it fell to $0.68 on March 17, 2025, with a market value of only $369 million. Its volatility is similar to $TRUMP, showing the high risk of MeMe coins.

This shows that celebrities' X posts can quickly ignite the market, but the impact is usually short-lived, and price fluctuations are like roller coasters. The possible conflict of interest and lack of transparency behind celebrity endorsements have also caused concerns. Research shows that some celebrities may make profits by "pulling up shipments" operations, that is, selling at the high price points, leaving retail investors to "take over", and investors should be cautious.

In March 2025, Arkham Intelligence's KOL tag provided a new tool for transparency, which can track the internet celebrity wallet activity of X fans with over 100,000 fans, covering 950 addresses, including Ethereum co-founder Vitalik Buterin and Trump. But whether the risks can be effectively reduced still needs time to verify. In the future, regulation and community supervision may become the key to balancing the celebrity effect.

The following is a comparison of the price changes of some MeMe coins before and after celebrity endorsement (as of March 17, 2025):

PART07. Crazy roller coaster: The price fluctuations and speculative attraction of MeMe coins

The world's MEME The crazy obsession of coins has puzzled many financial experts, struggling to find a logical explanation: Why so many investors support deliberately created assets that embody Internet jokes and quirky trends that are often useless? In fact, one of the biggest advantages of meme coins is its low entry barrier. Unlike established giants such as Bitcoin and Ethereum, the unit price of these tokens is often very low. This affordable price makes it an ideal portal for beginners to enter the crypto world and allows for large purchases. This in turn creates a domino effect: high transaction volumes push up prices, further increasing demand.

Another key factor is their speculative appeal. Essentially, meme coins are highly sensitive to market sentiment and are known for achieving huge short-term gains. Some meme coins start at a price of only a few cents, or even a few cents, but after being blessed by various heat, celebrities or front cars, the price has soared 10 times, 100 times, or even 1000 times. However, this extreme volatility is two-way. This cycle of prosperity and collapse is exactly why it is so attractive to be a savvy trader seeking quick profits. MEME coins that soar during bull markets tend to struggle under bear market conditions. However, for those who can spot signs of an upcoming bull market and act as early as possible, these tokens may represent a significant opportunity.

The core of their success lies in the power of the community. Ultimately, the idea of ​​virality has driven their rise. The success of meme coins depends on the extent to which the underlying memes or trends resonate with people. Since then, word of mouth among loyal fans on social media can snowball its popularity. Some MeMe coins also attract the attention of some influential figures, expanding their influence, which also increases their appeal.

MeMe The most prominent feature of MeMe is its extreme price volatile. Some analysts pointed out that the volatility of MeMe coins is 50 times that of Bitcoin. Its prices are often driven by speculation and market sentiment rather than basic value, making it a high-risk, high-return asset class. Dogecoin, for example, surged nearly 300% in 72 hours in 2013, but then quickly plummeted by 80%. The $TRUMP coin also fell sharply after reaching its peak of $75. The trends of "giant whales" holding a large number of MeMe coins can often affect the price. In addition, market manipulation further aggravates this risk, including "pump-and-dump" and "rug pull" in the MeMe currency field. Similar events have occurred in SQUID and BALD coins, which make investors be extremely cautious and conduct thorough due diligence.

MeMe Coin's history includes both successful stories of early investors' huge gains and cautionary tales of investors who buy at high points and suffer significant losses. Fast and often unpredictable price fluctuations create a high-risk, high-reward environment where wealth can be quickly accumulated or lost in a short period of time. Platforms like Pump.fun lower the barriers to entry, resulting in a constant stream of new MeMe coins, which not only increases the chances of finding the next hot coin, but also increases the risk of investing in short-term trends or scams.

PART08. Risk and opportunity coexist: The "danger" and "opportunity" of investing in MeMe

MeMe coins have high volatility. It can bring opportunities for high returns in the short term, but it also has major risks.

The temptation of getting rich overnight: The success stories of early investors such as earning millions of dollars, fueling the attractiveness of MeMe coins. Severe price fluctuations create opportunities for savvy traders to buy low and sell high, but the risks are extremely high.

Risk of runaway: MeMe coins are easily affected by pulling up sell-offs and runaway scams. Runaway refers to the developer giving up the project and running out of funds. The New York State Legislature introduced a bill in 2025 to criminalize fraud. Red flags include anonymous developers, lack of practicality, over-hype, unrealistic commitment, low liquidity and sudden price surges. Tools such as RugCheck and SolScan help verify liquidity locking.

Expert tips: Only invest in funds that can bear losses, research teams, white papers, roadmaps and communities, check token allocation and liquidity lockouts, be wary of hype, use on-chain analysis tools to track transactions, do a good job in position management, and set stop loss restrictions.

In the stimulating but hidden crisis field of MeMe coins, in addition to mastering some "dog-beating" skills, investors also need to prioritize risk management and thorough research rather than chasing fast returns. Here are some tips and experiences that can help you identify potential risks and avoid becoming a "leek":

Beware of excessive profit commitments: Any project that promises to obtain "100 times" or "1000 times" returns in a short period of time is highly likely to be a fraud. Real projects won't make such unrealistic guarantees.

Anonymous teams and fuzzy project details: Teams and projects that lack transparency are often red flags. A trusted project should have open and verifiable team members and provide a clear project white paper and development roadmap.

Start with small investment: If you decide to invest in MeMe coins, first invest a small amount of funds and try it out, and never invest an amount that exceeds your ability to bear.

Check liquidity locked: Make sure the project's liquidity pool is locked in a reputable custody service, or locked through a smart contract for a period of time to prevent the developer from suddenly withdrawing funds ("Rug").

Check the distribution of token holders: Avoid investing in projects where tokens are highly concentrated in a few wallets, which increases the risk of market manipulation.

Focus on the security of smart contracts: If you have the technical ability, you can review smart contract codes, or look for projects audited by reputable third-party agencies.

Beware of the "pull up shipment" model: Observe the K-line chart. If there is a sudden surge and then a rapid decline, it is likely to be a "pull up shipment" scam.

Don't be swept by FOMO emotions: When the price of a MeMe coin rises rapidly, don't blindly follow the trend and buy because you are afraid of missing out. Be sure to think and judge independently.

Follow the authenticity and activity of the community: Analyze the project's Discord, Telegram and Twitter If the number of members is large but the interaction is small, or it is filled with a large number of newly registered accounts and robots, this may mean that the community is being boomed by falsely.

PART08. How to find the next popular MeMe coin?

If you also want to join this Meme coin carnival, to find the next popular MeMe coin, multiple factors need to be considered comprehensively. The following is a detailed analysis:

Time: This is the primary factor that needs to be kept in mind. Find tokens that have begun to ferment in the community but have not yet been widely noticed. You can judge the heat of discussions from X and Reddit in preparation for an upcoming bull market, so that market sentiment will be beneficial.

Tracking the launch of new coins: Track the launch of new coins on decentralized exchanges (DEXs), just like gold rush. Also pay attention to the announcement of launchpad, and join some effective cryptocurrency communities to obtain early information.

KOL tool monitoring: GMGN KOL/VC monitoring, DeBot AI signal, chain.fm KOL channel. By establishing a KOL influence matrix, focus on KOLs that meet "high fan stickiness + narrative ability + real-time verification", and comprehensively consider Meme's popularity.

Data tool combination: GMGN, chain.fm, DeBot, ave.ai, lock in abnormal projects through the 5-minute popularity list → Search for contract addresses on Twitter (focus on monitoring narrative integrity, KOL interaction density) → Comprehensive analysis of developers' holding ratio and social media activity.

Address monitoring order: GMGN, chain.fm, DeBot, ave.ai, track the economic marketVerified "Diamond Hand" address. For those who are optimistic about the target, they will reduce their positions gradually until the market value breaks through a key milestone; for those who are short-term game targets, they will adopt the dual insurance mechanism of "double the capital + gradient reduction".

Exchange Listing and Market Accessibility: Even the most promising meme coins will not flourish if they are difficult to list. Make sure the tokens you are following can be traded on major exchanges like Binance or OKX.

Scarcity and fair token economics: Fair issuance is one of the best ways to pave the way to organic growth and prevent insider selling. Look for meme tokens with no unlocking period or VC suspended and sufficient circulation supply.

Cultural and emotional relevance: Not all meme coins have the same powerful concept driver. Meme coins with viral potential can capture the spirit of the times and stimulate the emotions and desires of the audience. Not only do they seem possible to succeed, but they feel inevitable.

Celebrity Endorsement: For better or worse, the support of influential characters has a huge impact on the success of meme coins. If there are celebrities talking about it—most likely, it will be hot.

Innovation and practicality: While this is not as important to meme coins as other cryptocurrencies, it is still a reliable indicator of its lifespan. If you want to discover meme coins that may soon become popular, check out those meme coins that focus more on collaboration and integration to build lasting value.

PART09. Looking forward to the future of MeMe

There are currently completely different views on the future of MeMe coins. Some supporters believe that MeMe coins may develop practical uses beyond speculation in the future, such as becoming a governance token for a specific community or a tool used to reward users. Critics believe that MeMe coins are essentially lacking intrinsic value and are very vulnerable to market manipulation behaviors such as "pulling up shipments", and will eventually die.

The long-term investment prospects for most MeMe coins are usually low due to lack of basic value and high volatility. However, currencies like Dogecoin and Shiba Inu have built significant market capitalization and loyal communities, indicating that they may be long-term. Their role in promoting community engagement and attracting new users into the cryptocurrency space may also help them persist. In addition, Shiba Inu and DThe eFi ecosystem is trying to integrate more practicality. Dogecoin has been accepted by some companies as a payment method.

While most MeMe coins may not be the option for long-term investment, some established players with strong communities and potential utility may maintain their position in the wider cryptocurrency ecosystem. With the continuous development of the MeMe currency field, new trends such as artificial intelligence drive and themes continue to emerge, reflecting the dynamics of Internet culture and its intersection with finance. The emerging new MeMe coins show that people are constantly interested in this type of asset and are willing to try new themes and technologies.

In the future, MeMe coins may be further integrated with emerging technologies or fields such as NFT and the metaverse to create new application scenarios and possibilities. For example, a MeMe coin can serve as a pass to a specific meta-universe community, or to purchase digital artworks associated with that meme. However, at the same time, regulators’ attention to the MeMe currency market may increase, and more regulatory measures may be introduced in the future to protect investors from fraud and market manipulation. In the long run, it remains an unknown whether a market driven primarily by hype and social sentiment can continue to exist.

MeMe coins’s crypto journey, from Internet jokes to important market participants, is full of charming colors. They not only bring about the temptation to get rich quickly, but also hide huge risks. The power of the community, the influence of social media, and the ever-changing market environment together shape the world of MeMe coins. Although the future is full of uncertainty, MeMe Coin, with its unique cultural genes and strong community foundation, may be able to find its own place in the broader financial world and continue to write its legendary story full of "confusion" and "intelligence".