Binance Co-Founder He Yi has published a comprehensive “Meme Study Note” exploring the evolution of meme culture, the enduring impact of Dogecoin, and the importance of long-termism in crypto investing. Her thought-provoking essay dives into the dynamics of subcultures, investor psychology, and how meme coins and value-driven projects can coexist in the modern Web3 landscape.1. Subculture and the Power of MemesHe Yi emphasizes that meme culture isn’t just viral content—it’s a grassroots movement deeply rooted in collective identity, emotion, and expression. From early internet communities to blockchain-based meme coins, subcultures have moved from the margins to the center of digital influence.“MEMEs are not created by chasing trends or replying to celebrities on Twitter. They are born from the heart,” He wrote.Referencing niche movements like the Zangai Family and Sanhe Gods, she notes that every generation shapes new cultural symbols. Meme expression, she says, deconstructs authority and redefines mainstream narratives, often becoming financialized through crypto.2. Dogecoin: A Blueprint for Community-Driven SuccessHe Yi reflects on the early days of Dogecoin (DOGE), calling it a defining moment for crypto subculture. What began as a parody of Bitcoin evolved into a symbol of generosity and internet-native community building. She credited early Chinese crypto pioneer “Gann” for helping to distribute DOGE globally, creating a grassroots momentum that still echoes today.She cautioned that true MEMEs don’t come from celebrity tweets or influencer hype, but from organic belief systems that grow into cultural products and even new forms of digital religion.“Great MEMEs don’t worship power—they challenge it. And maybe, one day, something could even surpass Doge.”3. Long-Termism Is Not DeadContrary to popular belief that long-term investing is outdated in fast-moving markets, He Yi strongly advocates for it. She compares value investing to gardening: both require patience, vision, and resilience.She explains that while the crypto market has grown exponentially since 2017 and DeFi summer of 2021, confidence has paradoxically weakened. The rise of inflated valuations and fake data has led to disillusionment, and she urges a return to fundamentals through tools like:Community-driven listing and delisting votesDecentralized token offerings via Web3 walletsLow-threshold, low-market cap launches benefiting real users“It’s not that long-termism is wrong—it’s about whether you chose the right object for your belief.”4. He Yi’s Investment Advice: Focus on Certainty, Not HypeHe Yi also shared her personal investment principles—based entirely in cryptocurrency—and offered advice for retail investors:Follow economic cycles: Buy during bear markets, sell in bull markets.Apply the 80/20 rule: Top-performing assets dominate market returns.Diversify smartly: Allocate at least 20% to strong crypto assets.Limit high-risk bets: Don’t allocate more than 10% to volatile tokens unless you’re using leverage or have high-risk tolerance.Execution matters: Knowing is not enough—consistent action is the hard part.“Most people understand what to do. The challenge is doing it—just like weight loss.”Be the Trend, Don’t Chase ItHe Yi concludes with a message for builders and investors alike: the future belongs to those who create, not those who chase.“Many serious projects give up too early. Don’t just follow trends—become the trend.”
Hui Xin
Joy
Brian
YouQuan