整理：Plain Language Blockchain

Recently, MemeCoin is entering the narrative of a "super cycle." On October 12, 2024, the search volume for "MemeCoin" on Google was 77/100, far exceeding the search volume for "Bitcoin" (BTC) at 33/100. Despite the current cryptocurrency market being in a prolonged state of low activity due to external factors, the popularity of Meme within the entire market remains strong, with no signs of slowing down.

MemeCoin, as the name suggests, is a type of cryptocurrency asset built on memes or popular jokes. Although the ideas behind these crypto projects may stem from a joke, the current state of these assets is no laughing matter. According to data from CoinGecko, the total market size of MemeCoin is currently $53 billion, accounting for about 2.3% of the entire cryptocurrency market cap. Solana launched Pump.fun in January 2024, and approximately 2.3 million MemeCoins have been created so far. Other public chains are also rushing to launch MemeCoin launchers, making MemeCoin the hottest track in this bull market.

So, what is the current status of the previously popular MemeCoins? Is there still an opportunity for newcomers in MemeCoin? How can one profit from Meme? We invited several practical players from the Plain Language Blockchain community to discuss these questions. The sharing guests include:

• Dashuo (@ruyan768, Technical Advisor at HashGlobal, Founder of CreatorDAO)
• daybyday (Practical player of MemeCoin in the Plain Language community)
• Qian Bencong (@faster100x, Practical player of MemeCoin in the Plain Language community)
• uuluckyl (Practical player of MemeCoin in the Plain Language community)

Note: The ranking is not in any particular order, listed alphabetically.

1. Which public chains are currently popular for MemeCoin? How are the MemeCoin situations on major public chains like Ethereum, Solana, Base, etc.?

Dashuo: The popular ones include Ethereum, Solana, and Base. Due to Pump.fun, the issuance and trading of Meme on Solana are the most active. However, Ethereum still has a strong value siphoning effect. Initially, Neiro was very popular on Solana, but ultimately it was more successful on Ethereum. Base, due to token support on Coinbase, cannot be ignored in the later stages of the bull market.

daybyday: Currently, MemeCoin is mainly concentrated on Solana and Ethereum.

Meme on Ethereum tends to have much longer sustainability compared to Solana. If the theme is good, even if the current price pulls back, it can still rise later; most projects will not just fade away.

But Solana, relatively speaking, is more of a one-time flow; if it goes up, it will keep pulling. As long as there is a downward trend, it is highly likely to turn into a "Christmas tree," with severe PvP (Player vs Player) dynamics. If you run slowly, you will be trapped. Due to the existence of Pump, Solana is extremely sensitive to market trends; new projects come up very quickly, and the pace is also very fast, with most projects not lasting more than three days. Most projects on Solana are bought by smart wallets (influential KOLs), and then other smart wallets follow, leading to price increases that attract retail investors' FOMO, and then there is no further development. Solana tends to lean towards animal types, while Ethereum leans towards political types.

Currently, the sentiment for Meme on Base chain is not high; we will see how Degen performs after going live on Coinbase. If it performs well, it may boost the Meme sentiment on Base chain; for now, it mainly revolves around the hype created by Base's leader, Jesse.

TRON had a brief surge due to pump activity a while ago, but it has been quiet since.

BSC has not gained traction due to severe issues and lack of official support.

Recently, there has also been some Meme activity on the Sui chain, but I personally have not followed it closely.

Qian Bencong: Currently, the MemeCoin market is still hot on Solana and Ethereum, much better than the market in September. Other public chains like Sui and TRON (TRX) occasionally present short-term wealth opportunities, and quality projects occasionally emerge on Base chain. The development styles of MemeCoin on Solana and Ethereum are significantly different:

Solana: MemeCoins on Solana are particularly inclined towards animal IP projects, such as Hippo, which was one of the first to gain popularity on Solana.** The pace of projects on Solana is very fast, and it is common to see prices rapidly rise to high market caps and then significantly fall back, with intense PvP phenomena in the market, making it easy to get trapped if the situation is not handled carefully. From my observations and experience with smart money, making money on Solana is significantly harder than on Ethereum, and stable profit wallets are relatively rare.

Ethereum: It is easier for political or celebrity IP projects to stand out on the Ethereum chain, and animal projects still perform strongly.** For example, the Musk-concept TERMINUS and Neiro are representative projects that sparked a craze on Ethereum.

Overall, MemeCoin on Ethereum tends to be more stable, while Solana is more explosive in the short term, but the risks and competition are correspondingly higher.

uuluckyl: Currently, the competition for traffic is mainly between Solana and Ethereum. Next are the Meme gameplay copies on chains like Base and Sui.** BSC has already gone silent; the pump model pioneered by Solana has brought new heat and income to public chains, coupled with retail investors' resistance to VC tokens.

2. How are the MemeCoins that previously fueled the Solana craze developing now?

Dashuo: New and old Meme on Solana are still performing strongly, such as WIF, GIGA, POPCAT, etc.

daybyday: The chain is in a state of favoring new over old; getting on BN is like having an extra life card, while those that can't get on are mostly fleeting, with very few surviving.

Qian Bencong: The wave of MemeCoins that previously led the Solana craze has seen a significant decline in market sentiment. The MemeCoin market resembles a "bad boy market," with many once-popular projects, like BOME, now rarely mentioned or completely devolved into secondary market gameplay. Currently, new trends are being led by projects like Neiro and MOODENG, and the market direction is gradually shifting.

uuluckyl: The first batch of MemeCoins on Solana naturally has little heat now. They are in the phase of gradually distributing chips. For example, BOME, W, WTF, ANALOS, BONK—put bluntly, some are air projects created by professional market-making teams.

3. What are the recent characteristics of the MemeCoin market? What are the expectations for future development?

Dashuo: The current Meme market is dominated by popular pets and trendy vocabulary. Meme with strong community support has the greatest potential due to cultural recognition and sense of belonging.

daybyday: Recently, due to the popularity of Neiro and MOODENG, various animal IPs on the chain have gone crazy, with many people turning into experts, digging up all the pet information raised by Neiro's owner and various family relations of MOODENG for speculation. Currently, as long as one Meme heats up on the chain, multiple variations will immediately emerge, but everyone is reluctant to take over, leading to severe PvP. Even if a hot trend emerges, it is very difficult to grasp which one can truly succeed, as there are too many uncertainties. For instance, Neiro first launched a capital contract and then a lowercase spot; MOODENG, which originally had an absolute advantage on Solana, recently revived on Ethereum due to Vitalik's token selling behavior. Overall, playing with MemeCoin is quite challenging.

Because most of the new listings of BN are institutional tokens, they peak upon launch without any profit effect, leading to a shift towards MemeCoin. However, currently, there are also "institutions" promoting MemeCoin, and this aspect is expected to increase in intensity. Personally, I believe that as long as there is a wealth effect, it will always exist. After all, in this industry, anything related to Meme can be speculated upon.

Qian Bencong: Recent characteristics of the MemeCoin market and future expectations:

High volatility and explosiveness: The MemeCoin market still heavily relies on the actions of the crypto community, KOLs, and big players for guidance, often experiencing dramatic rises and falls in the short term.** For example, Vitalik's recent sale of MOODENG for charity directly triggered several-fold increases. Such events demonstrate the market's sensitivity to the movements of prominent figures.

Significant information-driven effects: In the MemeCoin market, information advantage is crucial.** Whether one can seize opportunities brought by high volatility often depends on timely tracking of on-chain transactions, market maker behaviors, KOLs (especially conspiracy groups), and dynamics of major players in the circle. This determines whether you can enjoy the benefits or be left holding the bag. Establishing and maintaining one's information advantage will become the core competitiveness for future participants.

Increased requirements for retail investors: The complexity of the current MemeCoin market has increased the operational difficulty for retail investors.** A hot trend often appears simultaneously on both Solana and Ethereum, and there may even be multiple related coins with different case combinations. Typically, a hot trend will spawn more than four coins, making it another challenge for retail investors to accurately select MemeCoins to capture the trend.

Future expectations: As market competition intensifies, the importance of information capture and data analysis capabilities will continue to rise.** Traders who can quickly obtain, analyze, and interpret market information will significantly gain an advantage, while retail investors who cannot effectively filter information and projects may face greater operational challenges.

uuluckyl: The characteristics of Meme are as follows: emotion + thematic IP + market funds + celebrity effect.

MemeCoin has no intrinsic value, only short-term benefits, and the game in the niche financial market of the new era lacks physical support, which also highlights the fairness mechanism of blockchain, with more transparent rules on-chain.

In the future, MemeCoin will develop more refined mechanisms and gameplay, leaning towards collaborations with trendy IPs from real life, as well as popular animals and pets, and celebrity endorsements.

4. What experiences can be shared about playing MemeCoin?

Dashuo: Most players are not suited for PvP new listings; instead, they should purchase Meme that has already gained market recognition.

daybyday: The essence of price fluctuations is buying and selling. The Meme track is very reliant on traffic; continuous exposure and influential KOL endorsements will bring buying pressure, leading to price increases. Without traffic, it can easily die out, as new projects emerge daily, and who will pay attention to the old ones?

The entire track has a high sensitivity to information, so it’s best to join some communities to obtain timely hot information. Because being a few minutes late can result in completely different costs compared to others. Also, pay attention to KOLs with "traffic" on X (formerly Twitter); sometimes, a KOL's holdings can reverse a Meme's trend. Observe more, accumulate knowledge, and gradually understand each person's characteristics while tracking their wallet dynamics. After making a profit, be sure to take profits in batches; no one can sell at the peak, and only having funds in hand will prevent you from being passive. There are many opportunities in this industry, so never be fixated on one project.

Qian Bencong: Based on market characteristics, we need to establish a set of operational strategies that suit ourselves. The path I choose is to focus on hot new listings and establish a sufficient lead in the market through information advantages. Here are a few points of my experience to share:

Smart Money Monitoring: Establishing your own smart money monitoring database is crucial.** Smart money comes in many categories, each excelling in different areas such as sniping, long-term holding, new listings, chasing hot trends, or even diamond hands (steadfast holders). Find smart money that fits your style and let them help you discover opportunities. Exploring and tracking the trading behaviors of these accounts can significantly enhance your advantage in the market.

Twitter Monitoring: Keep a close eye on well-known figures,** especially big names like Vitalik, Musk, Trump, BillyM2k (co-founder of Dogecoin), and CZ (Zhao Changpeng). Their tweets often drive hot trends in the Meme market. I recommend at least turning on the notification bell for these important figures on Twitter to get their updates in real-time.

Conspiracy Group Monitoring: Compared to retail-led MemeCoin, the Tokens recommended by so-called "conspiracy groups" are more likely to experience explosive price increases and high market caps.** Understanding who the members of these groups are and establishing a monitoring system for the Tokens they focus on can help you discover potential opportunities more quickly. Keeping a close watch on their dynamics is usually an effective way to capture market hotspots.

KOL Monitoring: The role of KOLs in the early stages of MemeCoin projects cannot be ignored.** A few influential KOLs are enough to quickly boost the market cap of a particular MemeCoin. I suggest creating a monitoring list of high-value KOLs to participate quickly in the early stages of their endorsements.

Finally, based on these monitoring efforts, you can formulate your own strategies. For example, when multiple smart money accounts buy in simultaneously, or when a certain number of KOLs start recommending a project, you can pay attention or participate. Additionally, there are some related tools in the market that you can explore and utilize to improve trading efficiency.

uuluckyl: The core of MemeCoin at this stage is traffic. Compared to ordinary thematic PvP, focusing on celebrity comments is outdated; spend time capturing trending IP pets and real-world hotspots. Choose targets with stable trading volumes, around a market cap of 1 million, for short-term sustainable speculation, making it easier to profit. After all, buying various Memes can be too distracting and time-consuming. Selecting only the hottest IP at each stage will make things much easier, and the returns can be quite considerable.

However, be sure to pay attention to the risks of scams with the same name as MemeCoin and various coins without locked positions or clean contracts. Try to invest only a small amount, treat it like a lottery, keep a relaxed mindset, and avoid gambling.

5. What are the current money-making opportunities or effects in the MemeCoin market? Do ordinary people still have opportunities in the Meme field?

Dashuo: This bull market is a supercycle for Meme, with opportunities everywhere. Meme is inherently a bull market for ordinary people.

daybyday: There are always money-making opportunities, but they are unpredictable and mostly random. For the vast majority of people, making money in the Meme track is still quite difficult. The larger direction is to pay attention to the movements of people like Musk, Trump, and Vitalik, as significant themes are easier to speculate on.

The entire industry is becoming increasingly elitist; on-chain Meme speculation requires staying up late to monitor the market, track on-chain data, and follow KOLs' Twitter movements, which usually requires a lot of time and effort, and even collaboration among multiple people. When receiving a Meme information, you need to be able to grasp the point of speculation quickly; for ordinary people, this has become somewhat unsuitable. It’s better to combine your strengths and find directions that interest you. Some people are interested in yield farming, while others are better off buying and holding. Interest is the best teacher; those who are truly interested will dig deep on their own.

Qian Bencong: I believe that MemeCoin is one of the fields where ordinary people can easily seize money-making opportunities. The key is to pay more attention to the Ethereum ecosystem and establish your own information advantage. Maintaining continuous attention and follow-up on the Meme communities you are interested in can significantly enhance your profit opportunities.

At the same time, the market is filled with various hotspots, and it’s impossible to capture every Token or opportunity. The most critical thing is to be targeted, choosing those large enough hotspots to bet on, rather than over-participating in small-scale hotspots. By making choices about hotspots, ordinary people still have great opportunities to achieve profits in the MemeCoin field.

uuluckyl: Combining the above viewpoints, the current stage of MemeCoin still revolves around trending IP themes propagated in real life and the Web2 internet, with the core being traffic; where there is traffic, there is heat.

Ordinary people should try to avoid participating in MemeCoin, as the market fluctuations are rapid, and a drop can occur within hours if you don’t sell in time, requiring constant monitoring. If you really want to participate, ensure you have enough time each day to observe the market. Try to invest in only three Coins each month to reduce frequency and amount. Only invest in the hottest IPs, including other trending chains like Solana and Ethereum, selecting one Meme from each chain, which will simplify things significantly. As the old saying goes, the market has risks, investments require caution, and avoid impulsiveness; do not let emotions influence your decisions.

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