When PEPE came out during the last bull run, it had a $20M market cap. I didn’t get it at the time, didn’t understand how powerful PEPE’s virality was. Bought 10 $ETH, made a dozen or so, then sold everything during a pullback, feeling smug. Never got back in after that. Later, it pumped to billions, and I was super frustrated. The essence of MEME is actually the quantification of narrative, emotion, and consensus. Each word is priced individually, then summed up—it’s not that complicated. For example, whose narrative, emotion, and virality are bigger: someone’s dog’s name or 牛来谁?