Now meme has added another track - internet celebrities. Apart from Musk's tweets and Trump's speeches, one must also be familiar with the traffic passwords on TikTok and Instagram. Do you remember the early 2021 when DOGE sparked the first wave of "zoo market" meme craze? At that time, the market value of DOGE reached 88.79 billion US dollars. Now, in addition to cats and dogs, a new batch of internet celebrity animals has emerged in the meme circle. Unlike previous pet cats and dogs, they have gained attention on the internet due to some of their own characteristics, which has led to opportunities for speculation in the coin circle.
The current liquidity environment will not see the same peak as DOGE did at that time in the short term, and the current meme craze has caused confusion due to the dispersed targets and speculation among various chains. Many people miss the content creation atmosphere in the Chinese and even the entire crypto community a few years ago, saying that there used to be a lot of "dry goods," and there were many unique insights for different tracks and tokens that could be absorbed and truly turned into profits. In fact, what we miss is the bull market, because at least until now, many "logics" have failed, and the meme track is no exception, nor are other tracks.
Related reading: "Reveling in the Wild Casino Burying Meme"
Internet celebrity hippo Moo Deng
In September, an ugly and cute hippo named Moo Deng became popular all over the internet, making headlines in various media. It was born in the Khao Kheow open zoo in Thailand and was only two months old. Moo Deng became a new darling of social media due to its distinctive face and interesting videos.
TikTok and Instagram are filled with derivative videos and meme images of Moo Deng. Due to its overwhelming popularity, the zoo where Moo Deng is located had to limit the visiting time for each person and implement zoo security measures.
This lively scene naturally attracted the attention of the coin circle. The meme with the same name first appeared on Solana on September 11, and its market value steadily increased after being listed for a week, reaching around 5 million. On September 16, Binance spot listed the lowercase Neiro, and the meme market on Ethereum quickly heated up. In the early morning of the same day, the uppercase MOODENG appeared on Ethereum. Subsequently, on September 18, LBank exchange announced the listing of MooDeng trading on September 21.
The viral spread of Moo Deng continues, and the second wave of increased trading volume of the meme with the same name on Solana and Ethereum occurred on September 21. However, after this surge, the target on Solana maintained its upward trend, while the growth trend of MOODENG on Ethereum was relatively flat.
In terms of trading volume data, MOODENG on Ethereum is significantly inferior to Solana, with a trading volume of less than 40 million US dollars in the past week, while MOODENG on Solana has a trading volume exceeding 100 million US dollars in the past week.
Internet celebrity penguin Pesto
During the period when Moo Deng was popular, another cute giant emperor penguin named Pesto from Australia also gained attention due to its size. Pesto's weight is equivalent to the sum of its parents, making it very conspicuous in the penguin group. As a result, it appeared in major traditional media. Thanks to its peculiar characteristics and the fermentation and spread on social media, related meme coins began to appear in the coin market and received market attention.
The Solana-based $PESTO was listed on September 18 and performed strongly. It started to rise after 7 hours of listing and continued to rise for 8 hours, with an increase of over 8 times. It then experienced a significant pullback the next day, with a daily decline of over 80%, and the market value fell below one million US dollars. After a day of bottom oscillation, PESTO started to rise again, and its market value exceeded four million US dollars at its peak.
PESTO on Ethereum was born on the 20th, and its value increased by over 20 times within 24 hours of listing. It then experienced a significant decline, until it suddenly started to rise at noon today, with an increase of nearly 8 times in two hours, and its current market value is 1.83 million US dollars. Compared to Solana, the momentum of PESTO on Ethereum is weak, with a trading volume of just over six million US dollars since its listing, which is less than one-third of that on Solana.
However, yesterday, "Time" magazine and the BBC reported on Pesto one after another, and the related concept meme coins on Solana and Ethereum launched a new wave of offensives. The subsequent development remains to be witnessed by the market.
As the meme tide rises again, how to grab fish on the beach?
Looking back at the gold rush this week, there were many "slapping thighs" moments. First of all, one needs to maintain sensitivity to the market at all times in order to seize alpha opportunities.
The spread of MOO DENG in the foreign community was extremely fast, and it quickly received numerous media reports. For the meme market, which is already fond of cats and dogs, cute animals themselves are suitable as speculative targets. On September 17, X official also used hippo emojis as tweet illustrations. At that time, the market value of MOODENG was around 6 million, and even if one bought in at that time, there would be an 11-fold increase today, a week later.
During MOODENG's continuous rise, the penguin Pesto, as a meme with similar popularity, also became a reliable wealth code. Just a week after MOODENG was listed, PESTO on Solana was just getting started, and there is still a 10-fold increase waiting at the high point.
For tokens that come into view, analysis can be conducted from two aspects: narrative heat and chip structure. In the early stages of token development, one can observe addresses with large transactions during the rise, and analyze the speed of the token's rise and changes in trading volume.
After holding meme coins, it is important to take profits in a timely manner. Because the factors affecting the rise of tokens are difficult to predict, just like MISHA, which was originally thought to be Vitalik's dog and rose rapidly in value, but then plummeted cliff-like due to a denial reply from Vitalik himself.
During MOODENG's two-week rise, there were also frequent declines of around 40%, and many early holders sold off midway or even cut their positions. As a retail trader, taking profits in a timely manner can maintain a healthy holding mentality.
For example, the address starting with uDMqp6 bought a total of 1033 US dollars before the opening and sold 10 times in the following two weeks, accounting for half of the holding, with a profit of 100,000 US dollars and an unrealized profit of over 1.1 million US dollars.
No trader can seize every trading opportunity. Undeniably, the overall warming of the crypto market last week also brought a lot of liquidity to the meme market. In the dazzling decision-making process of rushing for dogs, finding the trading logic that suits oneself is the most important.
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