The crypto market rebounded against the trend, and the Meme coin craze continued.
Under the impact of wave after wave of Meme coin projects with great wealth-creating effects, countless crypto players have rushed into the ranks of the "PVP War", and Meme coin projects with various tickers and symbols are also spreading to a wider market in an increasingly "abstract" and cult atmosphere - this has not only spawned a large number of "fanatical calls" from crypto KOLs, but also refocused market attention on the latest developments related to various Meme coin projects, especially Ethereum co-founder Vitalik's "dumping the market for charity", which to some extent has also added fuel to the "Meme coin fever".
Odaily Planet Daily will summarize and sort out some representative viewpoints in this article for readers' reference.
On October 8, VanEck portfolio manager Pranav Kanade wrote that Meme coin has four key aspects that are worth learning from for crypto teams:
1. Simplicity: Many teams over-engineer their tokens without realizing that:
- Time, capital, attention = scarce;
-About 600,000 tokens were issued last year;
- Competition for the above scarce resources is intensified by the convenience of token issuance.
Instead, focus on:
Simple token design;
A clear vision;
Demonstrate how execution of the vision can create wealth for token holders;
2. High circulation, low FDV (low entry valuation);
3. Founder/Team Alignment: We can only get rich if we achieve our goals/deliver products as promised;
4. Highly transparent (for example, disclosing the cost basis of venture capitalists, which is often difficult to find). It is worth mentioning that Pranav specifically expressed his gratitude to Solana Foundation BD Kuleen in the comment section because the latter forwarded to him the most popular "Meme Coin New Generation Shouting King, Meme Coin New Leader, Crypto KOL Hot Chicken" - Murad.
WF Labs co-founder Andrei Grachev said in a post: "The Meme coin market has become a mature and solid part of the industry. It takes advantage of extreme fear and greed, allowing smart investors and traders to make huge fortunes. DWF Labs institutionalized investment in Meme coins a few years ago, and this remains one of our priorities."
Crypto KOL cygaar wrote: “The Meme coin trend is inevitable.
Cryptocurrency is widely adopted by:
-Always online, love Internet culture;
-Always looking for ways to make money;
- Want to be part of a close-knit community;
-It takes some faith.
Creating, trading, and talking about tokenized memes is a natural progression for a new generation of internet consumers.
There is still a lot of work to be done to make Meme Coin more transparent and fair, but people are having a lot of fun and some are making a lot of money doing it.
The lure of getting rich by investing in the next viral meme coin will continue to draw users in. This is why AMC and GME became such massive phenomena. As long as people spend a lot of time on the internet, meme coins will continue to exist and thrive.”
Summary: The price of BTC is about freedom, and the price of Meme coin is about fairness
After the Bitcoin spot ETF was approved, when Larry Fink, CEO of global asset management giant BlackRock, was asked how much he thought Bitcoin would be worth in the future, he replied: "What is the value of human freedom?" Later, he declared: "I firmly believe that Bitcoin has an indispensable position in the investment portfolio, it is like 'digital gold'."
If the price of Bitcoin, the first decentralized cryptocurrency in human history, is about freedom, then the Meme coin project, which is rooted in Internet culture and grew up in an atmosphere of various spiritual and cultural symbols, is more like a symbol of "calling for fairness and longing for connection" - low threshold, easy to understand, with community, enjoying the present, earning high profits, and hoping to get rich overnight.
Meme coins represent not only our desire for money, but also perhaps our expectation of connecting reality and the Internet through symbolic images. This is also the reason why Meme coins will continue to exist and prosper.
