Meme coins are the most popular and profitable narrative of this crypto cycle. After dominating the market in the previous two quarters of this year, they are expected to peak again thanks to the influx of new capital, with the
You may be wondering how these meme coins are making massive gains when they seemingly offer no fundamental value or utility. But you will be wrong about that; while they may not offer value in the traditional sense, they possess unique utility as a new-age marketing strategy that can enable more authentic and relevant connections.
Memes are actually a popular mode of communication among young audiences, allowing them to showcase their personality, humor and values.
Since memes help create a sense of community and loyalty among their users and followers, they have become extremely popular in the crypto space as a way to connect with the masses.
Shaped by internet trends, viral content and social media influencers, meme corners enable a much broader reach, one that goes beyond linguistic and geographic limitations.
In the speculative financial world of cryptocurrencies, memes are more than just a way to communicate complex concepts in a simplified and engaging way. They have actually become the basis of cryptocurrencies, which thrive on community engagement, social media activity, hype, and FOMO (fear of missing out).
As communities grew and media attention increased, memecoins became a tool for generating outsized financial gains, which can be likened to those of a work of art, the value of which is influenced by subjective factors. And the higher the price goes, the greater the community traction and growth, which then leads to more astronomical price changes, creating a feedback loop.
Shiba Inu and Pepe Coin are popular examples of this trend. However, this is not a recent thing; Meme coins have historically outperformed traditional investments.
The OG Dogecoin was created as a joke, only to see its market cap reach $85 billion at its peak. While Dogecoin was one of the handful of meme coins available until a few years ago, today meme coin mania has spread throughout the crypto space.
Redefining digital finance
By tapping into the cultural zeitgeist and gaining virality on social media, the meme coin industry has reached a value of $44.2 billion. During the 2021 bull market, Ethereum was the lead blockchain for this movement, but this time around, Solana took the meme coin craze to even greater heights.
The coin business alone on Solana is
This trend isn’t slowing down either, as new meme coins are released every other day. But of course, not all pieces are the same.
Tokens like WIF have already solidified their position with memes, huge price appreciation, and capture
The appeal of meme pieces isn’t just the humor; they also provide a great entry point for those excluded from traditional financial systems and those who have missed the enormous potential of majors like Bitcoin and Ether.
The low price of meme coins, which tends to be well below a dollar, provides investors with an attractive opportunity to earn huge returns.
For example, PONKE is a meme coin worth $0.3272 per token. Just at the start of this year, PONKE was trading at $0.00928 and since then it has increased by 3,424%. And despite such a move, PONKE’s market cap is still only $177.7 million, with a maximum supply of 555,555,555 tokens.
These measures make meme coins a lucrative option for small investors, who can easily access these tokens. You don’t have to be a skilled investor or have a large enough investment to make decent profits.
Meme tokens can easily be found on major centralized exchanges (CEX), and even if leading trading platforms do not provide support, one can simply use one’s wallet to purchase them.
So, as we have seen, meme coins are unique in their ability to monetize internet culture, creating a new asset class combining cultural influence and financial speculation.
This category of digital assets has added fun, excitement and novelty to cryptocurrencies, providing an equal dose of entertainment and investment opportunities. However, it is important to note that meme coins are highly volatile, even more so than general crypto assets, which calls for caution and careful research.
But although they started as speculative bubbles, memecoins are now at the forefront of a shift in how we treat money and investing, and over time, they have the potential to becoming significant players in the broader digital financial and monetary landscape.