97% of Meme Coins Are Doomed to Fail? Uncovering the Key Secrets Behind Cryptocurrency Success
Meme coins rely on viral trends to become popular, but most (about 97%) quickly disappear due to lack of practicality and long-term planning. Successful meme coins often stand out with innovative token economics, practicality, and marketing strategies for long-term growth.
Meme coins are popular mainly because they can quickly take advantage of the FOMO effect of social media. However, this popularity is usually short-lived.
Many developers launch meme coins just for short-term profits. Alvin Kan, COO of Bitget Wallet, pointed out that these coins will quickly collapse once the market enthusiasm cools. In the first quarter of 2024, most meme coins collapsed due to lack of sustainable strategies.
Despite this, some meme coins have succeeded, such as Shiba Inu (SHIB), Bonk (BONK), and Floki (FLOKI). They have gone beyond simple hype by building a strong ecosystem and innovative token economics. In addition, successful projects also value community interaction and participation, provide rewards to holders and promote long-term development.
Tweets from well-known figures such as Elon Musk can often instantly increase the price of Meme coins. However, this viral spread that relies on social media also brings extreme market volatility. After a rapid rise, prices may fall sharply, causing investors to suffer huge losses.
Especially on TikTok, users promote specific Meme coins through viral challenges, which often leads to short-term price surges, but the subsequent crash is also inevitable. In addition, the popularity of Meme coins is sometimes accompanied by market manipulation, where large holders take the opportunity to profit and small investors become victims.
