Recently, the Mingwen market and the Shiba Inu on Solana have frequently appeared in the myth of getting rich overnight, and such assets are called MEME Tokens in the cryptocurrency circle. In the Twitter Space event held by @GryphsisAcademy on December 28, various guests conducted in-depth discussions on investing in MEME Tokens.

First of all, the biggest feature of MEME is its distinct characteristics, easy dissemination, and wealth creation effect. These types of cryptocurrencies usually do not have practical business uses, but are driven and maintained by the community. Their value and popularity are influenced by discussions and hype on social media, rather than being based on traditional financial standards or actual economic value.

As many guests have pointed out, MEME tokens tell a story of getting rich overnight. Every time a MEME is heard by the public, someone must have gotten rich through it. Therefore, compared to other tracks of crypto assets, MEME is obviously easier to gain attention.

However, when these MEME tokens gain attention from ordinary retail investors, they may have already experienced hundreds, thousands, or even tens of thousands of times of increase. So how do we choose a good target to invest in, or how do we judge the future potential of an early-stage MEME, and how can we get rich through MEME? The guests in the Space event provided the following suggestions:

To judge whether a MEME can become popular and gain attention, we first need to look at its cultural dissemination and the initial core seed users (holders), as well as its early community culture. Its images and names must be memorable.

Taking $Silly as an example, it originated from Anatoly's green dinosaur costume at the annual Solana event - Solana Breakpoint Conference. It not only echoes the "silliness" that Solana developers use to praise and mock their dedication to building Solana, but also represents Western dragon culture. Most importantly, 2024 is the Year of the Dragon in China, and "silly dragon" even echoes traditional Eastern culture, sparking a craze of "buying silly dragons in the Year of the Dragon, waiting to get rich."

Source: coinex

The value of MEME is supported by consensus. From $Silly, we can clearly see that its culture is easily disseminated, and the image of a cute baby dragon also brings a lot of goodwill. The same goes for $DOGE, $SHIB, $PEPE, and so on.

Among a large number of MEME tokens, very few can truly stand out, it can be said to be one in a million. The vast majority of MEME tokens only experience a short-term surge or even a several-fold or several-tenfold increase after emotional hype. If this emotion cannot be sustained, with the waning of hype and the cooling of the market, they will experience a significant pullback or even return to zero.

For specific MEME tokens, if we cannot judge whether they have the potential to gain attention or whether the hype can be sustained based on cultural dissemination or community consensus, it is also good to capture short-term emotional gains.

We need to be active on social media, observe whether there are KOLs making calls, whether there is community follow-up, and have a firsthand sense of its popularity and FOMO emotions. As time goes by, if we find that the market sentiment is cooling down and the target is no longer being discussed, we should decisively exit.

Essentially, MEME is also a game of capital relay. We should try to obtain firsthand sources of information and let others follow our lead, rather than following others.

In terms of information sources, we can use on-chain bots to monitor tokens with rapidly growing numbers of addresses and active trading volumes. At the same time, early-stage MEME token market values are small, and the price fluctuates dramatically, which naturally brings high returns but also high risks.

We can analyze on-chain data, monitor early addresses or addresses with the largest holdings, and once we find that early addresses are selling on a large scale, we should sell or reduce our positions accordingly.

In the cryptocurrency circle, various tracks and concepts have risen and fallen countless times, but only MEME continues to shine in every cycle. MEME has become a golden signboard in the cryptocurrency circle, attracting countless newcomers and new money with its countless glamorous stories of getting rich.

The beginning of everything, as Bitcoin has told us, is that consensus is value, which is our belief and philosophy. Regardless of whether value investors acknowledge it or have biases, MEME tokens will continue to shine along with the broad prospects of cryptocurrencies.

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