In the current meme race, the competition between frogs and dogs is becoming increasingly intense. I wouldn't be surprised if another popular frog emerges.
By Observer Lao Wang
According to data from Coingecko, the market value of the meme sector has reached 50 billion US dollars, equivalent to over 300 billion US dollars!
The key trading volume is also at 4 billion US dollars, with a liquidity of 8%!
What does this concept mean?
In the crypto industry, the market value of the entire liquidity pledge sector is lower, at only 47 billion US dollars;
The entire NFT market is also less than 30 billion US dollars.
Even the highly competitive Layer2/Depin sector has a market value of only over 20 billion US dollars.
01 Value investment is a waste, go all in on meme and live in the palace
In May of this year, Binance once released an official report admitting defeat:
To make money in the crypto circle this year, you have to speculate on memes. This sector has seen a 331% increase, far exceeding other sectors.
Many VC coins have reached their peak, because their business is not grounded, and there are still a bunch of VC shares to be unlocked in the future. Whoever takes over will be the scapegoat!
Meme coins, on the other hand, do not have this problem. They are directly listed and fully circulated, and fate determines wealth and honor.
Ten years ago, the myth of getting rich in the crypto circle was to buy BTC/ETH, but in recent years, the myth of getting rich through memes has been achieved by ordinary people.
As an ordinary user, if you can't get shares of high-quality projects at a low price, and you don't have extraordinary knowledge, don't think too much about VC coins, just focus on researching memes!
02 Last cycle, dogs dominated the market
Currently, in the meme sector, dogs are the dominant force in this race.
In the top 10 market value list of meme coins, there are six dogs, three frogs, and one cat, with the poor cat only ranking tenth.
The number one dog coin far exceeds the second place, with a market value of over 17 billion, accounting for 35% of the entire sector's market value.
The second-ranked ShiB (also known as Shiba Inu Coin) was born in 2020. It is said to be the masterpiece of a fund in Shenzhen. After the project was launched for half a year, the daily trading volume did not even reach 1 US dollar, but now it has a market value of 10 billion US dollars!
The author knows a sister who got rich from Shiba Inu Coin, living a simple and boring life in a top luxury home in the center of Shanghai.
The soul of the dog family is Elon Musk. After the Shiba Inu Coin became popular, Musk tweeted that he would name his pet Shiba Inu "Floki."
This led to the creation of $FLOKI, which now has a market value of 1.7 billion:
But recently, some dog memes have gradually become less closely related to Musk:
First, Solana launched Bonk in 2023, claiming to be an extraordinary dog. After a silence of about a year, it drove this year's Solana Dog Season, with a market value of over 1.6 billion. If you invested last year, you could have made a hundredfold profit this year!
At the end of last year, Solana also introduced a token called WIF, which also had about two months to get on board before taking off. It now ranks fourth in market value, with a market value of over 20 billion US dollars.
In April of this year, there was a new dog meme from Runes, called DOG•GO•TO•THE•MOON, which currently represents Runes with a market value of over 500 million US dollars, ranking ninth, and is the latest work of Chinese capital.
03 Cat series' struggle for dominance failed
In the face of the dominance of dogs, the cat meme series appears much more subdued.
Currently, the best-performing cat in the series is this one. Perhaps cat owners are not so impulsive, and this POPCAT doesn't look like a serious cat either.
There was once a cat that broke the news about this issue: cat in a dogs world.
But this cat looks too serious, and the price trend is also at its peak from the start, so retail investors are not making much money at the moment.
04 The rise of the frog series quietly
When it comes to frogs, the leader must be Pepe:
Although this frog has only been on the market for a little over a year, it was a buying opportunity throughout last year.
This frog has a big background. If Musk brought dogs to fame, then it was Dung Wang who brought Pepe to fame:
Trump personally retweeted this meme, which influenced the US presidential election?
In terms of cultural content, Pepe the frog actually surpasses dogs. Its figure can be seen in various political movements:
Don't think this frog is fighting alone. In fact, it has family members, such as Brett:
Speaking of origins, Brett and Pepe are from the same source, both originating from the work "Boy's Club" by cartoonist Matt Furie.
Brett has been in circulation since March 1st this year, and after more than three months of development, its market value has increased by hundreds of times, reaching 1.5 billion US dollars, ranking seventh in the meme sector.
The eighth-ranked Bome is also a frog, and its creator, darkfarms, is a secondary creative artist of Pepe.
It was Bome that initiated the Twitter tipping and coin issuance operation.
05 Is Matt Furie going to be deified?
From the above inventory, it can be seen that Matt Furie is actually the soul of the frog meme series, with Pepe and Brett being his original works; Bome is a secondary creation based on his work.
In addition, other character memes created by Furie also have decent market values:
Hoppy, after several months of development, now has a market value of over 50 million US dollars:
Andyd has a market value of 150 million US dollars:
Landwolf has a market value of 140 million US dollars:
If you want to be bullish on the frog series, the best one to invest in right now might be Dark Lord.
Not only because this frog is Matt Furie's latest work, but also because this work is directly a product of his embrace of crypto, and has been directly issued as an NFT:
Matt Furie currently resides in the United States and can only issue NFTs, as directly issuing coins is illegal.
This has given everyone the space to issue ownerless memes. In the increasingly intense competition between frog and dog memes, I wouldn't be surprised if another popular frog emerges.
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