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The cryptocurrency market is the easiest place to give birth to hundredfold coins, and it is also the riskiest track of meme coins, also known as Meme Coin. It originates from internet community culture and aims to achieve a humorous, funny, or satirical entertainment purpose, created by technical developers through blockchain technology.
In addition to the humorous irony and community dissemination characteristics of memes themselves, Meme Coins often attract people due to stories of overnight wealth with dozens or hundreds of times in price increases.
For Meme coins, narrative is life, consensus is value, and the entertainment and ironic culture have strong dissemination and penetration power on the internet. A photo of a cute dog gave rise to DOGE, an idea to surpass DOGE led to SHIB, and a crowdfunding effort to auction a copy of the U.S. Constitution at Sotheby’s resulted in PEOPLE. Various narratives, whether interesting, trendy, or satirical, can become followed Meme trends. The most typical Meme coin is Dogecoin (DOGE), and every relevant tweet from Elon Musk can directly impact the price of DOGE, continually bringing Meme coins into the spotlight.
1️⃣ Relatability: Memes that resonate with a wide audience have a larger potential market, even if they may not understand cryptocurrency or grasp complex crypto technologies and knowledge. These assets are often simple/cute; the easier they resonate, the easier they spread. Representative token: DOGE (people understand it as a cute dog)
2️⃣ Token Distribution: The more holders there are, the more dispersed the chips are, which can limit the control of a single large holder. The best situation is for the largest holder's possession to be 1-2%. Representative token: PEPE
3️⃣ Virality of memes: Crucial for their success, usually driven by KOLs with a large following, spreading awareness to more people. Representative token: DOGE
4️⃣ Community culture: Representative token: WIF, which early on added a hat to avatars and went crazy spamming on Twitter.
Personal Insight: To catch a hundredfold Meme Coin, it needs to meet the right timing (the market lacks new narratives), favorable conditions (successfully attracting your attention), and people (market makers and consensus), and one must maintain a stable mindset, not be shaken out by the market makers. These factors all test luck and human nature.
#Which track is the bull market on?