The election has produced popular memes again, is the bull market faith recharging?
Author: Weizhi
During the US election, "popular memes" continue to emerge.
In the early hours of Beijing time today, the current US President Biden announced his withdrawal from the 2024 US presidential election and expressed support for Vice President Kamala Harris to become the 2024 Democratic presidential candidate. Subsequently, related short-term surges in meme coins such as $HERRIS, $KAMALA, and $KAMA entered the community's field of vision.
At the same time, Elon Musk, who is highly regarded by the crypto community and supports the Trump camp, also "stirred up" a meme coin concept related to the election, "DMAGA," which surged more than 50 times in a short period.
Changing the profile picture in the early hours led to a 50-fold surge in memes
In recent days, Musk has frequently retweeted US political content on his Twitter account, openly supporting Trump, who is currently running for election. In the early hours of today, a netizen @Chriswinig left a comment under Musk's tweet about the 11% increase in New York's crime rate, saying, "It's time!" and attached an image of Musk's original profile picture with "Dark mask" laser eyes.
This image was created by a website called DarkMagacoin. DarkMagacoin is a website launched by the community based on a famous photo of Trump raising his fist after the shooting incident, with the slogan "Dark MAGA patriots control everything." Fans of the community can use the tools provided on the official website to generate the same dark laser eye image.
Most importantly, the website launched the meme coin $DMAGA. However, before Musk changed to this profile picture, the trading volume of $DMAGA was less than $2 million a week after its launch.
The news of Biden's withdrawal from the US presidential election reignited the excitement of Trump supporters in the early hours today. Musk changed the comment section image to his own profile picture, which was seen as a high-profile reaction to celebrate Biden's withdrawal.
The community subsequently discovered that a16z founder Marc Andreessen and Messari founder Ryan Selkis had also changed their profile pictures to the "same" laser eyes to show support for Trump.
With Musk's "lead," DMAGA surged in the early hours, with an increase of over 50 times within a few hours. As of the time of writing, its market value has exceeded $60 million.
Three years ago in the bull market, Musk also wore laser eyes
In fact, "laser eyes" has a special meaning for the crypto community and is a symbol of how crypto believers view Bitcoin.
In the early part of 2021, during the bull market three years ago, Bitcoin rose all the way from $29,000 at the beginning of the year to $56,000. In the excitement of the crypto community, crypto podcast host Greg Zaj initiated a "＃LaserRayUntil100K" activity on Twitter, believing that Bitcoin breaking through the $100,000 mark was just around the corner.
"Laser eyes" refers to a phenomenon in games where when an enemy is controlled by another entity, their eyes emit a yellow light. Therefore, the crypto community uses the laser eye portrait to represent their faith in Bitcoin. At that time, MicroStrategy CEO Michael Saylor, CoinShares CEO Meltem Demirors, and even US Senator Cynthia Lummis were all participants in this activity.
The most important participant was Musk. On February 20, 2021, Musk suddenly changed his profile picture to a girl with "laser eyes" and a background pattern of Bitcoin. Under Musk's leadership, Twitter at that time became a sea of laser eyes.
Interestingly, Bitcoin surged to $68,000 today, and the vision of "＃LaserRayUntil100K" three years ago fits seamlessly into the present.
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