Original | Odaily Planet Daily (@OdailyChina)
Author | Nan Zhi (@Assassin_Malvo)
Last night at 11 PM, a Pump token named Stream until 100M MC (LIVE) was born. The token's developer (dev) stated that they would continue to live stream until the LIVE market value exceeds 100 million dollars. Although the Pump live streaming function has been launched for six months and is not a new thing, due to the lack of other hotspots in the market last night, funds flocked to LIVE.
The LIVE token's market value surged over 10 million dollars within one hour of its creation and reached 25 million dollars by 3 AM, but did not continue to break through. The DEV is currently far from the 100 million dollar target and ending the broadcast, having live streamed for nearly 19 hours as of the time of writing.
Live streaming becomes demonized
Today at noon, another man named NORME also created a token with the same gameplay LIVE ON TOILET UNTIL 50M (SHITCOIN). Notably, NORME is currently the Guinness World Record holder for 'the longest wakefulness,' having previously set a record of 265 hours without sleep.
The background of NORME combined with the lingering heat of LIVE allowed SHITCOIN to reach a market value of 8 million dollars in a very short time, and the live broadcast concept began to ferment and become abstract.
Then this afternoon, a large number of yellow live broadcasts appeared to issue coins, with some even announcing 'locking up grandma until the token's market value reaches 1 million dollars'. Upon verification, it turns out that this token had an identical version seven months ago, belonging to the trend of 'old tricks rehashed'.
Culture, narrative, consensus? Or just a hype gimmick?
In the early stages of Memes, Memes were packaged as a carrier of community and culture, believing that Meme tokens embody and condense the community's consensus on a certain concept. However, when Pump handed the currency issuance rights to the public, this statement was shattered, and the only thing that remained was the core of 'attention economy', where various Devs use glamorous rhetoric or eye-catching 'antics' to attract attention and funds. Meme trading has become a naked PvP battlefield.
As early as the early days of Pump.fun, a Dev 'played with fire' when launching a coin, which led to a short-term surge in the token, after which various yellow live broadcasts and antics began to appear frequently. Today's demonized broadcasts are just another cycle under AI aesthetic fatigue and narrative scarcity.
As a deep Meme player, the author does not believe that this 'chaos' will end Memes or signal the approaching end of the Meme track. On the contrary, the author believes that we are still in the mid-term of Meme development, but under this public fantasy and collective madness, the overall acceleration and transformative turning point of the Crypto industry may be imminent.
What is a Meme:
The following is a manuscript written by the author six months ago, before Pump became popular, for a certain Meme project, explaining the author's understanding of the Meme 'narrative'.
Original text
Memecoins come and go like short videos on TikTok, most of them flash by and disappear in an instant. Agile hunters get ez money, naive gamblers lose their 'hard earned eth', but we can always hear the rallying cry of 'RAID THIS'.
In the ethereal realm of Memecoin, the traditional laws of economics become but whispers in the wind, as value is imbued not by mere utility, but by the fervor and resonance of cultural relevance. It is a realm in which the abstract becomes tangible, where the absurd is celebrated, and where the value of a coin is measured not in material wealth, but in the currency of virality.
Within this surreal landscape, the memes themselves become currency. Through the alchemy of digital sorcery, these fleeting moments of nonsense and absurdity are crystallized into Memecoins.
For in the world of Memecoin, nothing is impossible, and the only constant is the ever-shifting tide of internet culture, forever immortalized in the digital ether. You can have fun with it and embrace it, hate it and fight it, or just ignore it, it’s all your call.
But never forget, CONSENSUS is the one and only lifeline of Memecoins.
Paraphrased version
Memecoins come and go like short videos on TikTok, most of them flash by and disappear in an instant. Agile hunters get money, naive gamblers lose their 'hard-earned SOL', but we can always hear the rallying cry of 'RAID THIS'.
In the nihilistic realm of Memecoin, the laws of traditional economics are but whispers in the wind.
The value here does not stem from mere utility, but is infused with passion from cultural resonance and heat. In this realm, abstraction becomes concrete, absurdity is celebrated, and the value of a coin is measured not by material wealth, but by the 'currency of dissemination'—the virality.
In this surreal landscape, the Meme itself transforms into currency. Through the alchemy of digital magic, these fleeting moments of nonsense and absurdity are crystallized into Memecoins. Because in the world of Memecoin, nothing is impossible, and the only constant is the ever-changing tide of internet culture, forever etched into the digital ether.
You can have fun, enjoy it; you can hate it and fight against it; or you can completely ignore it—it's all up to you.
But remember, 'consensus' is the only lifeline of Memecoins.
