Author: 1912212.eth, Foresight News

The MEME coins are dancing again. Yesterday, the prices of PEPE, BONK, FLOKI, and other coins all saw significant increases, with WIF even reaching a historic high. Is the familiar MEME market about to return? Buying MEME is a technical activity, so how do you create a successful MEME project?

Before answering how to create a MEME, let's first ask a question: why is MEME important?

In the world of MEME coins, we don't talk about fundamentals, forget about total market value and FDV, and abandon the advanced vocabulary that mainstream VCs often mention.

Here, it's a paradise for ordinary players.

Here, entertainment spirit is supreme. Xiao Zhao plays slot machines, Xiao Ming plays A-shares, Xiao Wang plays sneakers, Xiao Zhang plays US stocks, Xiao Chen plays mainstream coins, and at this moment, we play MEME. Maybe there's a chance to win a big prize and have a bright future.

It is precisely because of this that MEME has remained popular in the financial market, especially in the cryptocurrency industry.

Decentralization, community, anti-VC, anti-traditional, fair launch, grassroots, and so on, these Web3 terms are naturally prepared for MEME players.

In the past few years, relatively well-known MEME coins such as Dogecoin, BONK, PEPE, and SHIB have emerged. Every successful MEME is not something that can easily go viral.

So, back to the point, how do we create a successful MEME?

Large supply, low unit price

MEME is different from public chains, L2, or DeFi. The latter often has an issuance quantity ranging from 1 billion to 10 billion, while the total supply of MEME is calculated in the hundreds of billions or even trillions. Let's take the top 150 MEME coins by market value as an example and analyze the chart below.

The large total supply captures the psychological expectations of players speculating on MEME. Smart project teams will not let MEME tokens debut at several dollars. Smart project teams will use a low-price strategy to attract players with a high risk preference and retain those small retail investors with limited funds.

We must keep the unit price low so that players see a large quantity when they buy, and they will be more inclined to hold for the chance of a big win.

Another key point is to facilitate "going to zero" action.

Not only in trading, "going to zero" represents a strong bullish indicator. For the project community, it is also easier to ignite community emotions and FOMO, spreading rapidly.

During a bull market, stories of sudden wealth spread the fastest and widest. Once MEME occupies a position in this, it will attract a frenzy of bold capital inflows.

Design popular cultural symbols

Many well-known global brands are often associated with widely recognized mascots, such as Ferrari's logo being a horse, Lamborghini's logo being a bull, and QQ's logo being a penguin. These globally recognized animal images and logos are easy to remember and understand, providing a huge advantage for brand dissemination.

To create a successful MEME coin, we need to draw on this experience. The mascots of Dogecoin, SHIB, and BONK are all dogs, specifically Shiba Inus. These animals, based on popular culture, have had their expressive images widely circulated. In addition, Dogecoin's tipping culture once made it a very popular tipping token in the United States.

As the oldest MEME coin, Dogecoin has been repeatedly tested in multiple bull and bear cycles and is still creating legends.

Looking back at the most recent PEPE, it stands out by choosing the frog, a widely beloved mascot in Western communities. Its unique design with big eyes and green skin gives it high recognition.

Moreover, this frog has spawned various emoticons, showing a variety of emotions such as happiness, anger, and surprise. Some crypto KOLs occasionally use this frog image for comments, bringing it considerable popularity.

Therefore, leveraging well-known popular culture or mascots has a significant impact on creating a MEME.

We see that MEME coins do not necessarily attract attention and favor from celebrities as soon as they are launched. Dogecoin only gained Elon Musk's favor in recent years due to its cute and interesting symbol and tipping culture.

Elon Musk has hundreds of millions of followers on Twitter. Under such huge exposure and the favorable factors of micro-payments on the X platform, it has brought a lot of attention to Dogecoin.

In 2023, Musk even changed the Twitter logo to the Dogecoin avatar for a full 3 days. Prior to this, Musk even once proclaimed himself as the CEO of Dogecoin, posting about Dogecoin's payment methods and viewpoints in the Twitter community.

Every mention of Dogecoin by Musk, or even the collaboration between his companies and Dogecoin, injects a lot of attention into Dogecoin.

Apart from the rare opportunity of endorsement by a celebrity, riding on the celebrity effect is also a good choice.

In the previous cycle, SHIB, which took off, although now has a mediocre performance, initially chose a smart approach. It first left a comment in Musk's section, successfully prompting Musk to inquire and attract attention.

It then transferred half of the tokens to Vitalik. At the time, during the global pandemic, Vitalik chose to donate the tokens to an Indian charity, causing a lot of attention, to the point that many people in India began to learn about SHIB. After this event, many MEME coins imitated this action of sending tokens to Vitalik, but the effect was far from that of SHIB.

It is worth mentioning that even the Solana ecosystem protocol nuts of MEME coins would choose to ride on Musk's comments. Every time Musk comments "nuts" strangely, it would cause a surge in the price of nuts.

Another influential endorser is Toly, co-founder of Solana. SILLY successfully attracted Toly with its cute and interesting appearance. Even at Solana Breakpoint2023, wearing a dragon-themed outfit, it sparked a "silly dragon craze."

Build more "community consensus"

The price increase of cryptocurrencies is closely related to attention. The more attention, the more people understand it, and the more people will buy, thereby driving the price upward.

To create a successful MEME, of course, we need to recognize its essence. It is different from other utility or governance tokens. It completely abandons narratives, staking, and other old-fashioned terms, and openly admits that its token is "useless." In this case, the value of the token depends entirely on "community consensus."

And community, decentralization, these are the most original aspects of the cryptocurrency community. This also means that its viral spread requires resonance and "spontaneity" from the community, rather than deliberate marketing efforts.

Of course, some marketing is necessary when the hype is declining.

The "Doge-1" lunar mission sponsored by DOGE has continuously boosted its token price. In addition to having high online traffic, SHIB and Dogecoin also have notable offline partnerships. Some cinemas, supermarkets, and brands accept their payments, such as luxury brand Gucci, the largest US operator AMC, and the US television, gaming, and entertainment software retail giant GameStop, which undoubtedly enhances their brand exposure.

As a MEME coin, it's not enough to just post pictures on Twitter and expect a lot of community support. Although BONK is not as active in offline brand expansion and partnerships as its predecessors, it has notable interactions within the Solana ecosystem, such as collaborations with other DeFi products, adding liquidity, and staking tokens.

PEPE publishes interesting pictures, emoticons, and comics in the community. Additionally, it promotes the frog emoticon through sponsoring art competitions.

Whether online or offline, and whether through celebrity endorsements or hot events, building more "community consensus" is essential to give MEME coins enough fuel for takeoff.

Choose mainstream public chains with the most funds and users (Ethereum and Solana) as much as possible

Looking at existing MEME projects, most MEME projects are on popular public chains, such as Dogecoin, SHIB, and PEPE on Ethereum. With the rise of the new public chain SOL, BONK, WIF, and SILLY have also gained fame.

For various reasons, other public chains have not seen particularly successful MEME projects. Public chains are like reservoirs, where the more wealth and users there are, the more funds can flow into MEME. Additionally, since MEME-type assets largely depend on the "overflow" of active funds on the chain, there is almost no space for MEME-type assets on public chains other than the top few public chains.

Taking the previous MEME coin FUD on Sui as an example, despite being promoted by Sui's official account and choosing a highly tolerant dog image, FUD did not achieve the expected results, and its price continued to decline. The Sui ecosystem has not seen any successful "breakout" of MEME tokens to date.

When we shift our focus to L2, we suddenly find that there are very few MEME projects. Airdoge, which was active earlier, gained some popularity through a wide airdrop but then disappeared. Other L2 solutions have not seen highly recognized MEME projects.

During key events such as project airdrops, mainnet launches, and token model announcements, if arranged properly, they may garner significant attention.

Use airdrops to attract market attention

In the absence of other favorable conditions, conducting large-scale airdrops to selected public chains and token holders is a very effective way to quickly gain recognition for MEME.

A typical airdrop is the new Solana project BONK, which initially faced some difficulties. During the SBF incident in the Solana ecosystem, it generously allocated 60% of its tokens for airdrops to ecosystem users. As SOL quickly recovered and attracted market attention over the past year, BONK was listed on exchanges such as Binance and OKX. Without celebrity endorsements or the support of hot events, BONK carved out its own path through widespread airdrops and the recovery of the Solana ecosystem.

Even non-MEME projects often gain significant attention through airdrops. For example, Flare, Celestia, Dymention, AltLayer, and Wormhole. Some project tokens have become valuable, and simply staking them in a wallet can lead to receiving airdrops from new projects.

For example, when conducting airdrops in the Cosmos ecosystem, it is often advisable to target TIA, ATOM, and other token holders for airdrops, as these users are often more numerous and have a higher profile, which can quickly gain recognition through the reputation of other project teams.

Conclusion

Now that you've read this far, I believe attentive readers already know what to do, right? To create a successful MEME, one needs to consider token economics, mascots, airdrop methods, and the choice of issuing chains comprehensively. With the right timing, location, and people, the probability of success will increase.

If you need some small animals as mascots, you might consider these: the cotton-bellied frog, the Chas's marsh rabbit, the Silawa monkey, the Utah goose, the South African elephant shrew, the Marimba bear…

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