MEME Crazy: Crypto consumption downgrades, a Pinduoduo victory
In the past, a project needed to struggle to raise funds, frequently change the narrative, stay up late and work overtime to develop the product, and ask people everywhere to find connections to get on the exchange. After three years of hard work, the final market value was less than 100 million U.S. dollars, and was scolded by the community; now, a MEME project , no official website required, market value of US$1 billion in three days, quickly listed on Binance... Excuse me, what is the meaning of hard work?
So, what went wrong?
I believe that the market is always right.
The downgrade of consumption in the business world is due to demand, that is, the wallets of ordinary people have not kept up, and the middle class is sluggish.
The downgrade of consumption in the crypto world is a complete misalignment of supply and demand.
As far as supply is concerned, what infrastructure and consumer applications are available today? The zero-knowledge proof has been proven for so long. What has it proved?
In terms of demand, the wealth effect is still the first driving force, and transactions are the real need. The simpler it is, the easier it is to understand.
Under these conditions, MEME assumes the heavy responsibility of cryptocurrency Mass Adoption. There is no cognitive threshold, no product commitment, the culture and community cannot be priced at multiples of valuation, the chips are dispersed, and the fundraising is fair, whether it is retail investors or money laundering dog houses, Or exchanges/market makers can rush to make profits there...
Solana, a high-performance public chain known for its low handling fees, is an important infrastructure of MEME.
The rise of Solana is also a Pinduoduo-style victory, and cheapness is the way to go.
Pledge Pinduoduo, understand Pinduoduo, and embrace Pinduoduo.
Will the crypto world always be so MEME-ridden and bastard-minded? Of course not, the crypto world will see real Mass Adoption, but not now.
Remember, in this cycle, MEME is the real Mass Adaption. Even the popular AI coins are essentially MEME disguised as AI.
Solana and Robinhood will be important MEME infrastructure in this cycle.
