Memcoins have literally turned the crypto market upside down. In 2024, this asset class became one of the most profitable segments of the crypto industry, maintaining its leading position throughout the first half of the year.
What is Memcoin (let's review the material😝)
A memecoin is a cryptocurrency created based on popular internet memes, significant events, or trends. In previous market cycles, these tokens began as jokes or parodies of traditional cryptocurrencies, but have since evolved into a full-fledged asset class with its own cultural value.
A bright example is Dogecoin, created in 2013 as an ironic project referencing the Doge internet meme. Later, coins like Shiba Inu, PepeCoin, GOAT, and others emerged, managing to build large communities and attract media attention. The key features of such tokens include:
virality. The success of meme coins is often linked to the popularity of internet memes and trends that instantly capture attention.
entertainment factor. Meme coins often emerge as a joke, but some become investment objects, especially during periods of rising interest in cryptocurrencies.
community and celebrity support. An active community and participation from influencers create excitement around tokens, contributing to their spread and increasing demand.
And while meme coins rarely possess fundamental value or 'utility' in its traditional sense, they effectively reflect digital culture, where technology, the desire for quick profit, and social interaction converge.
Why do people create meme coins?
With the emergence of so-called 'mempads' like pump.fun, creating meme coins has become so accessible that almost any user with minimal technical knowledge can launch their token. For some users, meme coins are a way to make a statement in the crypto market, for others—a way to earn, and for others—a tool to build a community or promote a brand.
Among the main reasons for the emergence of new tokens are:
Culture and memes
Meme coins are reflections of popular memes, trends, or significant events. They quickly resonate in online communities, becoming part of digital culture. When a meme goes viral, a meme coin based on it can attract the attention of millions of users, even if it was initially conceived as a joke. Classic examples include Dogecoin or popcat.
Fan trading
For many, trading meme coins is a way to have fun, test their skills in the cryptocurrency market, or play 'in a casino.' Many traders enjoy the process and the risk.
Quick profit
Even compared to other segments of the crypto market, meme coins are characterized by high volatility. Their price can skyrocket hundreds of times in just a few days, attracting users looking for quick earning opportunities.
Community and unification around an idea
In some cases, meme coins are created to form active communities that support a specific project or idea. This creates an atmosphere where all participants are focused on promoting and succeeding with the meme. Such tokens often become symbols of certain movements or ideas. For example, Goatseus Maximus (GOAT) has become a major representative of autonomous or semi-autonomous AI agents related to the crypto industry.
Brand or product promotion
Meme coins can be used by companies and projects as a marketing tool to attract an audience. For instance, a brand can launch a token that will be distributed to customers or fans, creating excitement around the product. Most often, well-known personalities launch coins for this purpose.
Irony and critique
Meme coins are sometimes created as a way to express sarcasm or critique towards the industry, other projects, or even socio-economic phenomena. They become a form of protest or an alternative view of the world. Overall, creating meme coins is a unique combination of culture, technology, and marketing. These assets attract people with their simplicity, viral nature, and potential for creativity.
Key steps in creating a meme coin
The process of creating a meme coin involves developing an idea, technical implementation, as well as marketing and project development. Below are the key steps necessary for launching and promoting a meme coin.
1. Defining the concept
Creating a meme coin begins with choosing a bright concept that will capture the audience's attention. Meme coins are often inspired by:
popular memes;
important events;
characters or jokes.
Dogecoin, inspired by the Shiba Inu dog meme, is the same 'iconic' example of a captivating idea. The main thing is that the cultural meme underlying the token is easily recognizable and understandable to a wide audience—potentially allowing the token to gain a 'viral' character.
2. Technical Implementation
Typically, launching a token on a blockchain requires creating a smart contract. It defines important parameters of the meme coin, including name, symbol, issuance volume, and distribution conditions.
Users can:
write code independently if they have programming skills;
use platforms for quick launches like Pump.fun (more details in the next section).
In the first option, it is advisable to check the contract's functionality in the test network beforehand. In the second case, tested template smart contracts are deployed, which minimizes the risk of failure or token vulnerabilities.
3. Marketing and community building
The main value of all meme coins is a strong community, whose members are willing to buy and hold the token due to their belief in the project's success. The basic steps for building a community are:
creating a brand (logo, website);
social media accounts (Twitter, Reddit, Telegram, TikTok);
creating content using memes and humor for promotion.
Token giveaways and holding contests can help attract early users. Collaborating with influencers also helps increase recognition.
The main goal is to engage the audience and create an active community that will support your meme coin and spread information about it.
4. Ensuring liquidity
Liquidity is what makes a token available for trading. Platforms for quick meme coin launches automatically create liquidity pools and transfer initial capital there when the asset starts trading on decentralized platforms like Uniswap, Raydium, or Pancake Swap.
Launching independently will require the developer to create a liquidity pool on a trading platform with a specific starting amount of meme coins and another cryptocurrency (for example, ETH, BNB).
Project development
In conditions of high competition in the meme coin market, the popularity of the meme itself is often insufficient to ensure the success of the asset. Therefore, after launching the token, it is essential to continue its development. This includes:
attracting new partners;
trading on new centralized and decentralized platforms;
project development and creating 'utility' for the token.
Regular updates and interaction with the community help maintain interest in the project.
By following these steps, you can create a token that will attract attention, find its audience, and possibly bring profit to certain users or the developer.
Tools for creating meme coins
One of the most significant successes of meme coins has been the numerous platforms that simplify the launching and promotion of tokens. These services allow even newcomers to easily create and trade their meme coins, minimizing technical complexities. In different ecosystems, various services have dominated. Some of the main ones include:
Pump.fun
Pump.fun is the leading platform for creating meme coins in the Solana network. The network is known for its high throughput and minimal gas costs, creating favorable conditions for the development of the meme asset segment in this ecosystem. Pump.fun itself features several additional functions such as an advanced trading terminal or the ability to tokenize videos.
trading fee: 1%;
launch cost: 0.02 SOL.
As an alternative for launching tokens in the Solana ecosystem, the Moonshot service, integrated with the analytical platform DexScreener, can also be used.
EPUMP
A service based on the RocketPool protocol in the Ethereum network. Users can not only launch their own meme coins but also exchange them for other assets within the platform. EPUMP is suitable for those who want to take advantage of the Ethereum ecosystem without deep technical knowledge.
trading fee: none;
launch cost: network fees.
Four.Meme
The platform was launched on the BNB Chain in July 2024 and gained popularity due to its transparent approach to token creation and trading, excluding pre-sales and insider distribution. Additionally, Four.Meme provides meme coin creators with extra promotional tools.
trading fee: 0.5%;
launch cost: 0.005 BNB.
Another platform for launching tokens in the BNB Chain ecosystem is GraFun, which also has several features compared to its competitors.
Gas Pump
Gas Pump targets TON network users, providing the ability to create tokens with minimal effort directly in Telegram and through a web interface. Like many competitors, the service implements protection against manipulation by excluding pre-distribution of tokens.
trading fee: 1%;
launch cost: 0.3 TON.
SunPump
SunPump operates on the TRON network and stands out for its accessibility. The platform was launched in August 2024 as a primary competitor to pump.fun, offering lower operating costs and high transaction speeds. The promotion of the service was also aided by Justin Sun.
trading fee: 1%;
launch cost: 20 TRX.
These platforms make the creation process as convenient as possible, and they also provide a launch pad for trading the new asset. However, it is important to remember that launching a token is only the beginning. For the project's success, active marketing, community engagement, and creating value for token users will be required.
Common mistakes when launching a meme coin
With the availability of accessible 'mempads,' creating a meme coin seems like a simple and quick process. In practice, however, only a few projects achieve success, while most fail to attract sufficient attention or quickly lose it. Some of the main mistakes developers make include:
Weak concept
Meme coins are built around a bright idea. If the theme is boring, unclear, or unrelated to a popular trend, the token will quickly get lost among hundreds of competitors. Without a viral concept, a meme coin is practically doomed to failure or, at best, short-term hype.
Technical issues
Vulnerabilities in the token's smart contract, liquidity pool, or platform can lead to loss of funds, hacks, or distrust from the community. Therefore, independent developers should conduct test launches, while launch and trading services can prove their security through audits.
Lack of marketing and community
Due to the high competition in the meme coin market, even tokens based on viral memes do not always attract attention without active promotion. Ignoring social media and audience engagement will almost certainly leave the project in the shadows. It is crucial for a meme coin to attract attention quickly and maintain it for as long as possible, and without an active community, this is impossible.
Lack of liquidity
Difficulty in buying or selling a token is one of the main factors for failure. It is crucial for users to have access to liquid pools on popular exchanges to trade the asset freely—for project support, speculation, or other purposes. Additionally, low liquidity increases the risk of price manipulation by large holders.
Opacity of token distribution.
Insider sales or opaque token distribution mechanics cause distrust. If users suspect a project of manipulation, it can lead to a drop in reputation and loss of audience. Honest distribution is one of the factors for long-term success, especially considering that analytical platforms provide convenient tools for tracking major holders and asset movements in the network.
Meme coins have become the fastest-growing segment of the market, attracting the attention of traders, investors, and users interested in social interaction or internet culture. One of the key factors in this growth is the ability to create a token on almost any network without programming skills using special platforms.
However, it is essential to remember that launching a meme coin is just the first step in developing a project, and long-term success comes through thoughtful marketing, active community engagement, and product promotion.
Attracting an audience and maintaining interest in the token requires time and effort, often proving to be a more complex task than the technical launch of the token. This is where it is determined whether a meme coin will just be a joke or grow into a successful cult.
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