Written by: Biteye core contributor Viee
Editor: Crush, core contributor of Biteye
The recent rise of Meme coins is really fierce. The new coin $Moodeng has skyrocketed by tens of thousands of times, and the new "Dog King" $Neiro has once again pulled up the market by more than 50%!
A well-known crypto KOL posted a post at the end of September saying that the group members made nearly $1 million in profit on the new currency $Moodeng. Based on the transaction screenshots, it can be estimated that this lucky person made 7 million RMB in 10 days, which is an astonishing profit...
Biteye Lao Leek analyzed the logic behind the rise of these two tokens and explained how to find 10x and 100x projects. It is worth collecting!
01 Neiroâs Story
The Meme King $Doge The Dogecoin logo is a dog named KABOSU, which was based on Astuko Satoâs first Shiba Inu, who became popular on the Internet because of his devilish expression. However, KABOSU died on May 24, and his owner Astuko Sato later adopted Neiro.
After Neiroâs picture appeared at the Bitcoin conference, multiple related tokens appeared on the chain, and finally two tokens, uppercase $NEIRO and lowercase $Neiro, remained on Ethereum.
The reasons for the increase in the market value of lowercase $Neiro include:
1. The project team airdropped 4% of the tokens to Ethereum founder Vitalik Buterin (V God). After selling them, V God donated the funds to charity, which brought popularity to the project.
2. The community organized a coin donation activity for listing on Binance, raising tokens worth US$720,000, which demonstrated the unity of the community.
3. Binance launched spot trading of lowercase $Neiro.
02 Moodengâs Story
Moodeng is very popular on Web2, and many well-known brands such as McDonald's and Microsoft have posted tweets related to hippos.
The Moodeng community has grown rapidly, especially on the Solana chain. Later, $Moodeng on Ethereum gained popularity again due to its donations to Vitalik Buterin and charitable donations made by Vitalik Buterin.
03 The reason why Neiro and Moodeng are gaining popularity recently
The rise in market value and popularity of $Neiro and $Moodeng can be attributed to two key factors:
1. Vitalik Buterin sells coins for charity (attracts attention): The project direction Ethereum founder Vitalik Buterin (V God) airdrops tokens, and V God then donates the proceeds from the sale of tokens to charity. This behavior not only increases the exposure of the project, but also wins a positive image for the project.
2. Community solidarity (reflected in coin donation activities): By organizing coin donation activities, community members demonstrate their support and solidarity for the project. This collective action not only enhances the cohesion of the community, but also sends a positive signal to the outside world.
Of course, not every project that airdrops to Vitalik Buterin will be successful. The most important thing for Meme coin is actually the community and the traffic of Meme itself.
04 How to find a meme coin before it skyrocketed 10x or 100x
When choosing a Meme coin, you need to ask yourself three questions to determine its potential:
1. Does the source of the meme have its own traffic (is there a good narrative)?
In fact, the prototypes of many memes do not necessarily originate from Web3. Instead, the narratives were fueled by the overflow of popularity from Web2. Therefore, you can pay attention to hot topics on well-known Internet social media, while also paying attention to discussions on Twitter and Farcaster.
2. Will the meme be used multiple times by famous people or official accounts?
For example, whether the "Godfather" of Meme Coin Musk and the "King of Shouting" Trump, or other celebrities will tweet to discuss it.
Typical Musk-related Meme coins include DOGE, SHIB, FLOKI, TROLL, NUTS, etc. It can be said that every tweet from Musk may trigger a craze for Meme coins.
Trump's influence in the cryptocurrency field has also gradually increased. After the shooting at a campaign rally in Pennsylvania in July, meme tokens related to him have surged. For example, the TRUMP token rose as much as 68% in 24 hours.
The rise of these tokens is due to the popularity brought by the celebrity effect, which in turn drives FOMO sentiment.
3. What is the community atmosphere of Meme like and how is its development?
The simplest and most intuitive way is to look at the number of members and atmosphere in communities such as Telegram and Discord, or the topic discussions on Twitter.
05 Conclusion
Many people who trade Meme coins will follow Degen players to buy and sell, or trade from the perspective of Degen players, which may limit the perspective of viewing Meme coin transactions.
For example, artist @beeple has previously released a lot of Pepe-related artworks. Recently, he has also released more than one artwork about Hippopotamus, and this was before Hippopotamus was launched. The reason why he created artworks is that he saw the traffic and popularity. Therefore, if you only focus on the trading operations of Degen players, it is easy to ignore other opportunities.
Soros said in his autobiography: The cognition of trading participants is flawed, and we need to look at transactions from a different perspective.
