#Challenge 30 Days to Write a Diary on Headlines#What is' meme coin '?Recently, the pattern of "PepetheFrog" has swept the coin circle. It is a big mouthed frog with protruding eyes and tearful eyes, and the entire blockchain community and market cannot ignore its existence

#Challenge 30 Days to Write a Diary on Headlines#

What is' meme coin '?

Recently, the pattern of "PepetheFrog" has swept the coin circle. It is a big mouthed frog with protruding eyes and tearful eyes, and the entire blockchain community and market cannot ignore its existence. The cryptocurrency "$PEPE" created under its name has become a new investment favorite, with prices skyrocketing.

Pepe Frog Coin is a type of "MemeCoin", similar to memes in the current online world. It can be a piece of text, an image, or a video. As long as it is interesting and eye-catching, it can be widely circulated by netizens like a virus. MemeCoin is a product of referencing these humorous online cultures.

Unlike Ethereum, which emphasizes the potential for smart contracts and decentralized applications, or Bitcoin, which has storage value as' digital gold '.

Although memes are both cryptocurrencies, they usually have no practical use or practicality, and are purely created for fun or with a smile from Bo Junyi.

The market value of memes accounts for 1.5%

There are many popular meme coins, and the Dogecoin family alone includes Shiba, BabyDoge, Floki, AIDOGE, and so on,However, due to the lack of potential value or use cases, the value of memes is often hyped up and seen as highly speculative high-risk investment projects, often experiencing sudden ups and downs in a short period of time.

But memes are also an indispensable part of cryptofinance. Investing in customer generated markets allows funds to roll through the blockchain, usually starting with Bitcoin, then moving on to Ethereum and its public chain, expanding to Layer2, popular sectors, Web3 infrastructure, blockchain games (GameFi), the metaverse, and finally flowing to NFTs (non homogeneous tokens) and memes.

According to CoinGecko, a blockchain data tracking company, as of May 4th this year, the total market value of cryptocurrencies worldwide is approximately $1.24 trillion,The total market value of meme coins is $19 billion, accounting for approximately 1.5% overall

After a bear market in 2022, ancestor level memes such as Chaigou Coin and Gougou Coin not only survived but also remained in the top 20 in market value, performing even better than non meme value investment projects.

What are the factors that affect the value of meme coins?

Due to the fact that 'memes' are the emotional consensus of online communities, which gain public recognition and resonance, they will be spread after exposure. Therefore, the value foundation of meme coins is to achieve' consensus'. To quickly achieve consensus, it is necessary to spread it quickly, and the speed and breadth of information dissemination are key.

Renowned Web3 expert Sammi Sammi once stated that a "good meme coin" runs through its lifecycle from project initiation to price explosion, with a short duration of two to three days, and a long duration of one to two weeks before completing a round.

Sammi said, "Due to the large short-term increase and the lack of a sustained incentive mechanism, it is not possible to attract more investors to inject more time and capital, so the decline is also very fast

Therefore, the value of meme coins is very vulnerable to external influences. Investors need to continuously track the crypto community, evaluate its discussion and topic popularity, measure market sentiment and speculate on its price trend.

Two well-known meme coins

Dogecoin

Doggie coin is the most popular meme coin of Elon Musk, CEO of Tesla and "Twitter meme master". It is often worth a roller coaster because of his tweet.

The dog coin represents the Chaigou on the pattern, which is the well-known internet meme "Doge". This Chaichai named "Kabosu" has two stacked, smiling expressions with a hint of mockery. The photo is taken from its owner, Dunko Sato, and was titled "What's for dinner today

The Dog Coin Prime Kabosu celebrated his 17th birthday in 2022, but was once critically ill and concerned by global fans. After being minted into cryptocurrency, it became the most expensive meme in the world.

After the blog was exposed, it caused a wide response. However, at the end of 2022, due to suffering from acute cholangitis and chronic lymphoid leukemia, the health status of the meme Benzun was not optimistic. However, with a global fan base, it has temporarily improved due to its critical condition.

The origin of Dog Coin is not just funny. In 2013, when Adobe developer Jackson Palmer witnessed various chaos such as speculative behavior among Bitcoin investors, he decided to use the popular Chaigou meme, along with another software engineer Billy Markus, to create Dog Coin in just 10 days.

He always adheres to the dog coin standard, using dog coins as the standard for measuring the value of items. Nowadays, the official website of dog coins still reads "1 dog coin=1 dog coin".

However, when Dogcoin became famous within a few years, it eventually became a target for speculators to make money. The crypto community all hoped that the two founders could use their influence to raise Dogcoin, but they couldn't bear the disturbance. In disappointment, they sold out their Dogcoin and withdrew from the coin circle in 2015.

The dog coin represents the firewood dog on the pattern, which is the well-known internet meme "Doge"

PepeCoin

The meme of Pepe Frog first appeared in artist Matt Furie's 2005-2006 serialized manga "Boy's Club" and initially did not attract readers' attention. It wasn't until 2008 when ACG texture discussion site 4chan netizens moved Pepe Frog to the discussion board and became a meme that it quickly became popular.

He showed indifference in the mangaI just feel really good about itThe attitude towards life has become the new generation of the 'Internet Bible'.

Until 2015, a post involved the Pepe Frog in the political turmoil. At that time, the Donald Trump team running for the US president, many supporters and netizens combined the Pepe Frog shape with Trump's classic gold back comb oil head, revealing a look of must win with various campaign slogans, known as the "Pepe Political and Cultural Movement", The Pepe Frog has even been negatively labeled as an "evil cartoon frog" by her opponent Hillary Clinton.

Source: pepe

After the original author Matt Freey learned about it, he issued more than one statement calling on netizens not to associate the "simple and comfortable" Pepe Frog with political "hatred and discrimination". However, it was not effective until in May 2017, when he personally "killed" Pepe Frog in a new comic, all the controversy came to an end.

Compared with other dog coin families that follow the derivation of dog coin, the Peipei frog coin is a rising star in the meme circle. It has no intrinsic value or real world use. Its creator praised the Peipei frog coin as the most easily remembered meme coin in the world. It was launched in the middle of April this year, and was promoted as the third largest meme coin in the world in a few weeks. Its currency circulation supply reached about 420 trillion, which was inspired by the cannabis culture "420". The Pepe Frog coin has also gained its status as a derivative meme coin, such as PaPaCoin, who claims to be the "father of all memes".