The four stages of memes Stage 1: Hype the name, like Binance Life, such a great name Stage 2: Hype the narrative, like 4, hackers release it, retail investors take over Stage 3: Hype the mechanism, like Giggle, with a tax mechanism, doing a bit of good Stage 4: Hype DEV development, like Ping, DEV needs to build a launchpad, release NFTs, and create an ecosystem. The risk is quite high—if the development succeeds, it takes off; if it fails, it goes to zero.