Find 3 ways to identify 10x and 100x projects before a surge.
Written by: Viee, Core Contributor of Biteye
Edited by: Crush, Core Contributor of Biteye
Recently, the surge of meme coins has been fierce, with the new coin $Moodeng skyrocketing over ten thousand times, and the new "Dog King" $Neiro rallying over 50% again!
A well-known crypto KOL stated at the end of September that a group member made nearly $1 million in profit from the new coin $Moodeng. From trading screenshots, it can be estimated that this lucky individual earned 7 million RMB in just 10 days, an astonishing return…
Biteye's seasoned investors have analyzed the logic behind the rise of these two tokens and answered how to find 10x and 100x projects, which is worth keeping!
01 The Story of Neiro
The logo of the meme king $Doge Dogecoin features a dog named KABOSU, the first Shiba Inu raised by Atsuko Sato, who became an internet sensation due to its quirky expressions. However, KABOSU passed away on May 24, and later, its owner Atsuko Sato adopted Neiro.
After Neiro's image appeared at a Bitcoin conference, several related tokens emerged on-chain, ultimately resulting in the uppercase $NEIRO and lowercase $Neiro tokens remaining on Ethereum.
Reasons for the market cap increase of lowercase $Neiro include:
The project team airdropped 4% of the tokens to Ethereum founder Vitalik Buterin (V God), who sold them and donated the funds to charity, bringing attention to the project.
The community organized a donation event to list on Binance, raising the equivalent of $720,000 in tokens, showcasing community unity.
Binance launched spot trading for lowercase $Neiro.
02 The Story of Moodeng
Moodeng has gained high popularity in Web2, with many well-known brands like McDonald's and Microsoft having tweeted about hippos.
The Moodeng community has developed rapidly, especially on the Solana chain. Later, the $Moodeng token on Ethereum gained attention again due to donations to V God, who then made charitable contributions.
03 Reasons for the Recent Surge in Popularity of Neiro and Moodeng
The rise in market cap and popularity of both $Neiro and $Moodeng can be attributed to two key factors:
1. V God sells tokens for charity (attracting attention): The project team airdropped tokens to Ethereum founder Vitalik Buterin (V God), who subsequently donated the proceeds from selling the tokens to charity. This action not only increased the project's exposure but also earned it a positive image.
2. Community unity (reflected in donation activities): By organizing donation events, community members demonstrated their support and unity for the project. This collective action not only strengthened community cohesion but also conveyed a positive signal to the outside world.
Of course, not every project that airdrops to V God can succeed; for meme coins, the most important factors are actually the community and the meme's inherent traffic.
04 How to Identify a Meme Coin Before It Surges 10x or 100x
When selecting meme coins, you need to ask yourself 3 questions to assess their potential:
1. Does the meme have inherent traffic (a good narrative)?
Many meme prototypes do not necessarily originate from Web3; rather, they gain traction from the overflow of popularity in Web2, so it's important to pay attention to trending topics on well-known social media platforms, while also keeping an eye on discussions on Twitter and Farcaster.
2. Will the meme be used multiple times by well-known individuals or official accounts?
For example, will meme coin "godfather" Elon Musk or "pump king" Trump, or other celebrities tweet about it?
Typical meme coins associated with Musk include DOGE, SHIB, FLOKI, TROLL, NUTS, etc. It can be said that every tweet from Musk could trigger a frenzy for meme coins.
Trump's influence in the cryptocurrency space is also gradually rising; after a shooting incident at a campaign rally in Pennsylvania in July, meme tokens related to him surged, with the TRUMP token rising as much as 68% within 24 hours.
These token increases benefit from the heat generated by celebrity effects, which in turn drives FOMO sentiment.
3. What is the community atmosphere like, and how is its development?
The simplest way is to look at the number of members and the atmosphere in communities like Telegram and Discord, or the discussion topics on Twitter.
05 Conclusion
Many people trading meme coins tend to follow Degen players to buy and sell, or trade from the perspective of Degen players, which may limit their view of meme coin trading.
For instance, artist @beeple has previously created many Pepe-related artworks, and recently he has also created several pieces about hippos, even before the hippo launch. His motivation for creating was actually seeing the traffic and heat. Therefore, if one only focuses on the trading actions of Degen players, it is easy to overlook other opportunities.
Soros once said in his autobiography: the cognition of trading participants is flawed, and we need to view trading from different perspectives.
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