The Rise of MEME Coin: Analysis of the Core of Web3 Culture and Wealth Effect

The Core Role of MEME in Web3 Culture

MEME plays a core role in Web3 culture, quickly resonating within the cryptocurrency community through its unique propagation methods and widespread popularity. These often humorous and satirical digital images or concepts not only deepen the connections among community members but also become important means of expressing opinions, emotions, and market trends.

MEME can transcend language and cultural barriers, achieving widespread dissemination at a very low cost, and thus plays an indispensable role in promoting awareness and participation in Web3 projects.

Recently, the performance of MEME coin in the market has attracted widespread attention. According to data from the platform, the market value and trading volume of MEME coin have shown significant growth, reflecting the popularity of this type of coin and the high interest of investors.

For example, BOOK OF MEME($BOME) achieved over 1000% growth in a short period. The reason behind this phenomenon mainly lies in the large issuance and low price of MEME coins, making them an ideal choice for attracting funds during a bull market, as investors seek the possibility of high returns through small investments.

In addition, MEME coins often revolve around light-hearted and humorous themes, making them easy to spread quickly on social media, thereby attracting more attention and participation.

Comprehensive Interpretation of the MEME Track - How to Become a Golden Dog Hunter?

1. The Spread Mechanism of MEME

1. Social Media and Community Interaction

Social media platforms are key channels for the dissemination of MEME coins. Through Twitter, Reddit, Telegram, and others, project teams interact directly with users, share updates, host events, and respond to community feedback. This interaction not only enhances the visibility of the project but also strengthens the cohesion of the community, making information dissemination faster and more effective.

Bitcoin ($BTC), as the earliest cryptocurrency, primarily engages its community through social media platforms such as Twitter and Reddit. Members of the BTC community frequently share market trends, technical updates, and investment strategies, creating a strong information-sharing network.

For example, the r/Bitcoin section on Reddit has over 1 million subscribers, and these users enhance the brand recognition and market influence of BTC through discussion and sharing, forming a strong community consensus and cohesion.

2. Viral Marketing

The viral marketing of MEME coin relies on highly shareable content, such as catchy slogans, amusing images, or unique concepts. This content is easily accepted by users and quickly spreads across social networks, achieving low-cost yet effective market promotion, which allows MEME coin to gain widespread attention in a short period of time.

$AKITA leverages the visual elements of Shiba Inu, which has a broad audience base in both the Web2 and Web3 worlds, and spreads rapidly through creative content on social media platforms.

For example, $AKITA community members created various meme images and videos related to Shiba Inu, which were widely shared on platforms like Twitter and Reddit due to their humor and visual appeal. Additionally, $AKITA further enhanced its viral marketing effect by hosting online competitions and interactive events, such as the creation and auction of NFT artworks.

These activities not only increased the community engagement of $AKITA but also attracted the attention of more potential investors, making $AKITA a popular MEME coin in the market in a short period of time.

3. Using Celebrity Effect

Using the celebrity effect to promote MEME coins involves collaborating with influential public figures to share MEME coin information through their social media platforms, attracting the attention of their fans.

Create engaging content such as challenges and live broadcasts to increase user participation. Launch limited edition MEME coins or products in collaboration with celebrities, and enhance brand image through charitable activities. At the same time, monitor the effectiveness of promotional activities to ensure that the celebrity effect translates into actual market influence.

The popularity of $DOGE is attributed to the celebrity effect of Elon Musk. Musk has mentioned DOGE multiple times on Twitter, calling it "the people's cryptocurrency," which has resonated widely with fans and the media. These tweets have not only enhanced the brand awareness of $DOGE but also sparked the community's creative enthusiasm, generating a large amount of related user-generated content.

Every time Musk mentions anything related to dogs on Twitter, the price of $DOGE quickly skyrockets, becoming an iconic symbol of cryptocurrency culture.

4. KOL and Community Influence

Opinion leaders ( KOL ) play a crucial role in the promotion of MEME coin. Their recommendations and endorsements can significantly enhance the project's credibility and appeal. Moreover, the influence of the community should not be underestimated; active community members can accelerate the dissemination of project information through word-of-mouth.

The $SHIB community has effectively enhanced the project's visibility through collaborations with several KOLs in the cryptocurrency field. For example, when well-known KOLs like CZ(, the CEO of a certain trading platform), mention $SHIB on social media, their large number of followers become interested in the project.

In addition, active interactions of the $SHIB community members on platforms like Twitter and Reddit, by sharing trading experiences, creating MEME content, and participating in discussions, further enhanced the project's appeal and credibility. This synergy between KOLs and the community has made $SHIB a hot topic in the cryptocurrency market in a short period of time, attracting a lot of attention from investors.

5. Wealth Effect

The price fluctuations of MEME coins are often accompanied by a strong wealth effect. When prices rise, new investors are attracted to the market, hoping to gain profits by participating. This effect not only drives further price increases but also expands the cultural dissemination of MEME coins.

Silly Dragon( is launched by Solana founder Anatoly Yakovenko during Halloween 2023. This direct support from the founder of a public chain adds trust and authority to the project, further driving its wealth effect.

$SILLY has shown significant market growth in a short period of time, reaching a market capitalization of 70 million USD in less than two weeks since its launch, with over 8,600 holder addresses and an on-chain pool as high as 1.2 million USD. This rapid market growth is seen as a wealth effect, attracting more investors and traders.

) 6. Incentive Mechanism

The incentive mechanism is one of the important strategies for promoting MEME coin. Through methods such as airdrops, trading burn taxes, and lucky draws, the project team encourages users to hold and trade tokens, thereby increasing market activity and user engagement, while also bringing more attention and discussion to the project.

$AIDOGE adopts a decreasing airdrop mechanism, where users who claim early can receive more tokens. This mechanism incentivizes users to participate early, thereby increasing market competition and the initial demand for tokens.

At the same time, a trading burn tax mechanism has been designed, where each on-chain transaction incurs a 15% burn tax. A portion of this is used for ecological development, another portion is destroyed, and a third part is rewarded to liquidity providers and stakers as dividends. This mechanism increases the scarcity of the token, thereby enhancing its value.

7. Unique concepts and designs

The design of MEME coins is often closely related to their concepts, with unique visual elements and cultural connotations that make them stand out among many cryptocurrencies. This design not only increases the project's recognition but also makes it easier for MEME coins to be shared and discussed on social media.

The concept of $BOME is "Book of MEME". This project was initiated by Pepe MEME artist Darkfarm, aiming to create a gallery focused on the permanent storage and creation of MEME. BOME has attracted a lot of attention in a short period of time and has rapidly spread on social media, with its market value significantly increasing in a short time.

The concept of "Book of MEME" is to combine MEME culture with blockchain technology, using a decentralized platform to preserve and share MEME content. This project raised funds through a presale event and attracted a large number of investors and community members in a short period.

The rapid rise of $BOME demonstrates how MEME coins can quickly gain attention and value in the cryptocurrency market through unique concepts and designs, as well as active community participation.

8. Innovative and Easily Spreadable Topics

MEME coin projects often combine innovative or easily disseminated topics to enhance their visibility. Whether it's related to popular culture MEME or references to social phenomena, these topics can spread rapidly within communities, generating widespread resonance and thus increasing the project's market recognition.

$SLERF is a MEME coin based on the Solana blockchain, which has quickly gained popularity due to its unique narrative and community involvement. The founder of $SLERF accidentally destroyed key tokens due to an operational error, and subsequently launched a rescue operation to raise funds to compensate presale participants.

This initiative has received positive responses from the community and multiple exchanges, including support from well-known figures and influencers. The price of $SLERF experienced significant fluctuations but was able to achieve a remarkable rebound in a short period, setting a new high. Its narrative and market performance have propelled $SLERF to become the focus of the market.

![Comprehensive Analysis of the MEME Track —— How to Become a Golden Dog Hunter?]###https://img-cdn.gateio.im/webp-social/moments-380842de7d1b14002a1684efeccdf8eb.webp(

2. How MEME Captures Emotion ) Causes FOMO (

In the cryptocurrency market, the popularity of MEME coins is often closely related to their ability to capture and stimulate investor sentiment. FOMO), Fear of Missing Out, is a particularly strong emotional response that plays a key role in the spread and value formation of MEME coins. The following is a detailed explanation of how MEME coins capture sentiment, especially the triggering of FOMO.

( 1. Viral spread on social media - Rapid dissemination leads to panic buying.

The MEME coin quickly gained attention through viral dissemination on social media platforms. A tweet about a certain MEME coin or a discussion post on Reddit, if engaging or entertaining, can be widely shared in a short period of time.

This mode of dissemination not only increases the visibility of MEME coins but also creates a sense of urgency within the community, making people worry about missing the opportunity to participate in a potentially hot project.

The viral spread of $DOGE began with a tweet on Twitter, issued by Elon Musk), calling it "the people's cryptocurrency." He mentioned Dogecoin multiple times thereafter, becoming its true spokesperson.

According to statistics, every time Musk mentions dog-related content on Twitter, the price of $DOGE significantly rises in the short term. Many investors, fearing to miss out due to FOMO, urgently join in to buy when Musk mentions Dogecoin.

2. The push from the community and KOLs - Missing out on credible potential gains brings panic

The MEME coin community and key opinion leaders ( KOL ) play an important role in capturing sentiment. The endorsement or recommendation of KOLs can quickly enhance the credibility of a MEME coin, making community members feel the need to participate in order not to miss potential gains.

In addition, active discussions and the sharing of success stories within the community will also enhance the feeling of FOMO.

3. Price and Market Performance - The FOMO Driven by the Wealth Myths of Bull Markets

The price fluctuations and performance of the market are direct factors that trigger FOMO. When the price of a MEME coin rises rapidly, investors worry about missing the opportunity to make a profit. The hype and news reports in the market further amplify this sentiment, leading more people to join the buying frenzy out of FOMO.

The price of Bitcoin has hit a historic high, reaching $70,000. This has given many users the signal that a bull market has arrived, triggering FOMO emotions and causing many investors to rush to buy various spot assets to avoid missing out on further price increases in the bull market.

( 4. Marketing and Narrative Strategies - Hidden Wealth Opportunities Under Unprecedented Narratives

Successful MEME coin projects typically employ carefully designed marketing and narrative strategies. By telling engaging stories, MEME coins can establish an emotional connection with investors, making them feel like they are part of a larger story. This emotional investment further intensifies the FOMO sentiment, as investment

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 6
  • Share
Comment
0/400
PositionPhobiavip
· 9h ago
Who can grasp the moment of the bubble?
View OriginalReply0
SerumSurfervip
· 9h ago
play people for suckers, rich guys enter a position
View OriginalReply0
PanicSellervip
· 9h ago
Once you see the suckers, play people for suckers.
View OriginalReply0
DegenDreamervip
· 10h ago
All in is my faith, charge, charge, charge!
View OriginalReply0
GmGmNoGnvip
· 10h ago
It's time to make a fortune with meme coins!
View OriginalReply0
BoredRiceBallvip
· 10h ago
Is it all just memes after all?
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)