Summary Report of Crypto Glasses
One, Market Transformation and Scale Expansion
In 2024, the Meme coin market successfully achieved a structural transformation, evolving from a purely short-term speculative tool into an independent market sector with unique cultural connotations and long-term economic value. As of December 6, its market capitalization surpassed $120 billion, becoming a vibrant key sector in the crypto asset landscape. By November 29, the total market capitalization reached $116.82 billion, accounting for 3.5% of the market share and continuing to rise. Its Benchmark index performed exceptionally, reaching 279.8%, far surpassing mainstream coins like Bitcoin and Ethereum, and has become a popular new investment target, attracting widespread attention and participation from retail investors, institutions, and funds.
Two, Market Growth Driving Factors
1. Market Psychology and Capital Flow: The attention premium and FOMO effect have greatly concentrated the attention and funds of retail investors, forming a strong market momentum. At the same time, discussions related to VC coins and Meme coins have intensified, prompting more investors to tilt their funds towards Meme coins, driving up market value.
2. Innovation in Communication Channels: Short video platforms like TikTok are booming, opening up fast and deep communication channels for Meme coins, accelerating their market expansion process.
Three, Characteristics of Market Development
1. Diversification and Evolution: In the process of transitioning from a single market to a mature market, the attributes of Meme coins have continuously expanded from the early 'zoo' characteristics to cross-border integration, undergoing multiple deep transformations and evolutions to achieve a diversified development pattern.
2. Infrastructure Support: The underlying infrastructure continues to improve, with innovative launch platforms such as Pump.fun, Sunpump, and Moonshot significantly lowering the cost of token issuance and the participation threshold for players, laying a foundation for market prosperity.
3. On-chain Ecosystem Differences: Meme projects on chains like Solana and Ethereum demonstrate stronger competitiveness. Although the Base chain experienced a short-term boom in Q2 and the Tron chain in Q3 due to the launch of Sunpump, there is a lack of overall narrative momentum and a weak long-tail effect.
4. Dominance of Narrative Culture: Currently, animal-themed Memes and Cult culture Memes dominate mainstream narratives. These Memes have deep cultural foundations and loyal fan bases, significantly impacting market development.
Four, Market Competition Situation
The Meme sector has evolved into a new focal point of competition among crypto CEXs, intensifying the competition for user traffic between leading and aggressive exchanges. Among them, LBank has stood out with the advantages of being the 'earliest to launch Meme and concentrated Meme wealth effects,' becoming the new 'Meme King.'
Five, Market Attitude Shift
Meme coins were controversial in their early stages, with varying attitudes among institutions, retail investors, and KOLs. However, as the market effects became evident in the second half of the year, some institutional attitudes began to shift, gradually increasing their recognition.
Six, Key Elements for Meme Coin Success
Unlike 'junk coins,' successful Meme coins (like DOGE and Moo Deng) possess a powerful Meme effect, eye-catching catalysts, and active community participation. They leverage celebrity effects (like DOGE with Elon Musk) or viral social media spread (like Moo Deng), but more importantly, they build community systems that can convert ordinary audiences into passionate supporters.
Seven, Market Outlook and Demand Insights
The market development of Meme coins is accelerating. Given that 75% of Meme coins were born in the past year, tools and platforms that cater to both novice and experienced traders can be constructed in the future. While current platforms have solidified foundations for experienced crypto users and on-chain traders, ordinary traders yearn for a more friendly, guided, and multi-level trading interface that aligns with their growth pace and meets various trading needs at different stages. This also provides direction and opportunity for further market innovation and development.
