Evolution of MEME Coin

Source: Daoshuo Blockchain

After the article about MEME coin was published the day before yesterday, many readers in the message area expressed their views on MEME coin.

Speaking of MEME coin, I still prefer the last round.

In the last round of bull market, there are two MEME coins that impressed me the most: Shitcoin and PEOPLE.

Shitcoin is the first MEME coin that I participated in very attentively.

When I first saw it, I was fascinated by its story and background. Its ideals and practices are something I have never seen, never thought of, and simply cannot achieve in real life. Such a conception was earth-shattering at the time. Moreover, the sale of Shitcoin cleverly used Uniswap, which had just emerged at the time, to make the sale and participation process completely open, transparent, and equal.

All of this makes the birth of Shitcoin seem so timely. It is no exaggeration to say that Shitcoin has opened a new chapter in MEME coins.

Compared to Shitcoin, PEOPLE does not have a clever conception, but it has a kind of frankness and romance.

It took the opportunity of participating in the auction of a copy of the US Constitution to allow the general public in the crypto world to participate in an event that only the rich and institutional investors can enjoy in real life. If the auction is successful, it will represent the perfect resonance of the human pursuit of freedom, equality, and privacy both off-chain and on-chain.

Although it failed in the end, this initiative allowed everyone to see the power of grassroots and the great role that encryption technology may play in real life.

In addition to their own characteristics, Shitcoin and PEOPLE have one thing in common: there are not many traces of carving. When their teams created them, they did not deliberately create them as MEME coins, nor did they deliberately give them emotional value.

The emotional value they later had was completely triggered during the process of dissemination and in people's discussions afterwards, which was quite natural and simple.

The MEME coins that emerged in this round of market lacked that naturalness and simplicity.

From PEPE to the vast majority of MEME coins that appeared later, as soon as they were listed and known to everyone, people could see the traces of artificial carving on them, and knew that they were MEME coins, and guessed that their value depended on emotional hype and dissemination.

The only difference is that each coin has different focuses. Some topics are very consistent with the history and taste of the crypto ecosystem, and it is easy to form a consensus through this cultural identity, such as PEPE. Others mainly rely on celebrity support and KOLs to amplify some small-value emotions through the celebrity effect and use the potential wealth effect to attract public participation.

When I participated in this round of MEME coins, I felt that my inner expectations for them were more about financial returns rather than spiritual enjoyment.

Compared to the previous round, whether I participated in Shitcoin or PEOPLE, I felt curious and excited, looking forward to seeing the final outcome of the matter rather than the amount of wealth returned.

Some of our readers once said in the message that Bitcoin and ORDI are MEME coins. To some extent, I agree. The simplicity and purity of them are even stronger. I don't think their creators had too many utilitarian ideas when they created them, but more ideals, aspirations and curiosity.

Only this kind of simplicity and purity can create classics.

Looking back, MEME coins have now changed from the ideal pursuit they once were to naked expectations of wealth. There is nothing wrong with this, but the boring fun and artistic conception make their connotations increasingly thin, and their sustainability increasingly fragile. More importantly, it is difficult for MEME coins created in this way to form stable and continuous value, and it is also difficult for the public to profit. They can easily become a simple gambling game.

Such MEME coins are not fun.