jakiro
Author: faye Source: X, shaofaye 123
Memecoin is an unavoidable theme in 2024. Classic memecoin such as Dogecoin and Shiba Inu have increased by more than 5 times in 2024, while emerging models such as Hippo (MooDeng) and Squirrel (PNUT) have increased by more than 5 times.The return on investment of the currency is as high as a hundred times.Overproduction of tokens and high circulation and high valuation of VC coins have made this bull market a bull market that is not in the market.Therefore Memecoin is extremely active in this round, becoming an indicator of on-chain liquidity, a whistleblower of new narratives, and a thermometer of market sentiment.
This year we have witnessed the process of Memecoin from fanatical speculation to gradually moving towards mainstream culture and consensus effects, and the great transfer of wealth occurred.In this process, issuance methods are constantly innovating, asset types are changing rapidly, and mainstream acceptance and adoption have promoted its vigorous development.Every change hides the opportunity to get rich hundreds and thousands of times.Looking back at the 2024 Memecoin Super Cycle, let us witness the changes and opportunities this year together.
Infrastructure is getting better
The prosperity of this round of Memecoin super cycle is inseparable from the continuous improvement of infrastructure.Whether it is the innovation of the underlying issuance method of B-end or the optimization of the user experience of C-end, it provides conditions for Memecoin to inflow of funds and rapid user expansion.
Innovation in distribution methods
The traditional Memecoin issuance method is similar to ordinary tokens, while Memecoin, as an attention economy, has rapidly changed market hotspots, but the current asset issuance cycle is long and the methods are complex; the user preferences and hype rhythms on major public chains are different.These make it difficult to concentrate market attention and liquidity, and it is difficult to achieve rapid push up asset prices in the short term.
PUMP.FUN: The core engine of super cycles
Although the pre-sale model of the money-making boom triggered by BOME and SLERF has changed its issuance method to a certain extent, attracting market attention.However, RUGs are frequently released in cash, and the above problems have not been effectively solved.The emergence of PUMP.FUN has effectively solved this situation. The Memecoin issuance cycle has begun to shorten, funds have continued to flow, and users have gradually concentrated, laying the foundation for the start of the Memecoin super cycle.
PUMP.FUN was founded by founder Alon in January 2024, but there were few followers at the time and it was not until April that it gradually entered the public eye.It has issued nearly 5 million Memecoin, accounting for nearly 70% of Solana’s daily token issuance, becoming the highest-revenue agreement on Solana.As the engine of Memecoin’s super cycle, the optimization of asset issuance methods is its core advantage.It allows users to create tokens without any technology (no longer need to pay a $2 creation fee after the August update), fair in-market fundraising + reasonable price curve (Bonding Curve) successfully reduces the cost of asset issuance and increases the cost of asset issuance.The speed of asset issuance is an effective solution to the problem of rapid conversion of Memecoin hot spots in the current market and difficulty in concentrating fund speculation.
In addition, the success of PUMP.FUN is not only in the innovation of the mechanism.Its user positioning and product design are also quite excellent.From the user side, it solves the real problem of most people in the Web3 market, “users want to obtain higher multiples in a simpler, faster and less cost-effective way.”From the product side, it is one of the few projects with a complete commercial closed loop, and the profit sources are clearly checked.(1% of the transaction fee on the platform before launching Raydium, 6 SOLs of the “coin fee” during the package launch of Raydium.)
Currently, according to Dune data, as of December 23, PUMP.FUN has deployed nearly 5 million Memecoins since its launch, with daily active users reaching 300,000 and daily new addresses reaching 170,000.According to DefiLlama data, PUMP.FUN’s agreement revenue reached US$94 million in the past 30 days, with cumulative agreement revenue of nearly US$300 million.
PUMP.FUN imitation disks are frequently released, and micro-innovation continues
PUMP.FUN started this Memecoin super cycle, and subsequent imitation disks made the super cycle more prosperous.
Sun.pump: Memecoin Launchpad becomes the fifth set of public chains
A large amount of capital inflows and market attention have led to the public chains being launched as PUMP.FUN imitation disks. For a time, Memecoin Launchpad became the fifth set of standard public chains.
Major public chain ecology has begun to support Memecoin in the upstream, middle and downstream.On BSC, platforms such as Four.meme and Flap attract market attention through continuous launch of activities and joint branding; on the Base chain, distribution platforms such as Ape.Store, Rug.fun, Trugly.meme will attract users to participate through various gameplay; on BTC Layer 2, many imitation disks have also emerged, such as LnPUMP.FUN, SatsPUMP.FUN, CPUMP.FUN, etc.Sun.pump on the Tron chain has driven the “re-prosperity” of the entire chain of Tron with its own strength.For a time, the hot money on the Tron chain surged and quickly became popular. The Gas on the chain soared, and the TRX’s currency price, which had been silent for a long time, also hit a new high in the past three years.But after that, TRX has been lowering all the way, and now the price has fallen back to 0.24 USDT.
I saw him building a tall building, and I saw his building collapse.Memecoin, as a traffic portal to quickly attract users, can bring a wave of dividends to the public chain, but how to undertake ecological construction is worth thinking about.
MakeNow.Meme: Optimization of market-making model
MakeNow.Meme is no longer popular now, but it attracted widespread attention when it was first launched.It released more than 2,600 Memecoins in the previous day, with revenue exceeding 230+ SOL.Compared with PUMP.FUN, its issuance mechanism is not only a simplification of the asset issuance method, but also provides a new direction for the market making model.
-
Asset issuance method is simplified – On Twitter, post tweets in a fixed format (tweets start with $ symbol and stock code, plus token description/video/picture, etc.) and @official account, waiting for the official account to be in the comment areaJust reply to the token contract address.
-
Optimization of market making model – A fair launch method On the surface, everyone needs to scan the chain to obtain the contract as soon as possible.But in fact, KOL and the project party may be able to reach an agreement with the platform in private to buy low-priced chips in advance.
According to Dune data, MakeNow.Meme gradually faded after just one week of its creation, heading towards an ending that no one cares about.This may confirm that Memecoin’s core narrative and main logic is still the pursuit of fairness.
Moonshot: Back to DEX Screener Natural Traffic
Moonshot was developed by DEX Screener around June this year. Although it is even embedded in the platform with DEX Screener backed by DEX Screener, its data is still very small compared to PUMP.FUN.Although it is supported by natural traffic, it does not seem to have done a good job in traffic acceptance and conversion. MetaData is not displayed before launch, and the launch history cannot be simply verified, and the function lacks transparency.
The data performance after it was launched was also relatively mediocre.This may indicate that the traffic entrance has always existed, and how to convert users is the key.
Recommended reading: “Inventory of various chains “PUMP.FUN”, where to go to make money by playing?》
Optimization of user experience
In addition to innovation in asset issuance methods and capital diversion, user experience optimization is also the reason for this round of Memecoin’s large-scale outbreak.
TG Bot: Optimization for Web3 users
Behind this round of Memecoin super cycle, the development of tools and on-chain robots is inseparable from the development of tools and on-chain robots, and its functions are being updated quickly in the process of continuous iteration.From sniping, fixed-investment to safety inspection and correlation analysis.Super powerful tools and robots protect users’ Nuggets on the chain, pushing Memecoin to the public from the demand side.
During this period, for Memecoin transactions, the tools were expanded from the mobile terminal to the web terminal. For different segmentation needs, there were both multi-chain-compatible professional trading websites, such as gmgn.ai, Bullx, Photon, and also convenient and fast TG bots.For example, Banana Gun, Tojan, Bonkbot, etc.With the help of Memecoin gold rush, these service tools specifically target Memecoin transactions have gradually transitioned from comprehensive to deep. The tools such as related wallet analysis, Twitter monitoring, and security detection are becoming increasingly perfect, and the product business model has been verified.During this process, the number of TG Bot users is also increasing, with a maximum of 140,000 daily active users and a maximum daily transaction volume of nearly 500 million US dollars. Although there is still a long way to go compared to the on-chain DEX, Memecoin is superUnder the influence of the cycle, this sub-sector is still a blue ocean.
Recommended reading: “Stop taking over again!Memecoin Tool Advanced Guide
MoonShot: Optimization for Web2 users
In addition to Web3 users, Memecoin is also the most direct way for Web2 users to enter and understand Web3.However, Memecoin transactions still have many problems such as high security risks, multiple platforms, and difficulty in obtaining Gas.MoonShot, which was participated by Alliance DAO, the incubation team of PUMP.FUN, solved the problem to some extent.
It is a mobile application focused on Meme trading built on the Solana network, which allows users to directly purchase Memecoin through fiat currency deposits such as Apple Pay, credit cards, PayPal, etc.This simplification of social login and fiat currency deposit process brings more new users and new funds to the Solana ecosystem, opening up the link between Memecoin and funds outside the circle.But at present, as the wealth effect weakens, MoonShot user activity is gradually decreasing.How to effectively convert Web2 users is a problem that has always existed in the field of encryption.
The major narratives are rapidly changing
As the target that best reflects the economic phenomenon of crypto market attention, Memecoin has developed a trend of diversified narrative programs under the market boom in 2024.Looking back at the past, the theme types of Memecoin narratives are different.But behind each type, it represents specific market trends, community trends and capital operation models. According to past laws and characteristics, we can roughly divide them into four types: event-induced derivative Memecoin, community-driven IP Memecoin, and celebritiesThe concept of effect-dominated Memecoin, an emerging Memecoin that crosses the field and multi-dimensionality.Various types of cross-influence are not completely independent.
Event-induced derivative Memecoin
Memecoin caused by emergencies often attracts extremely high attention from the beginning, and traffic and funds will quickly drive the rise in Memecoin’s asset prices during the process of attention.From occurrence to rise, it is often difficult to replicate suddenly. Its core feature is that it explodes quickly and has a high short-term multiple but lacks continuity. After its attention fades, it needs to find other motivation.Targets such as BOME, SLERF, FIGHT, BAN, etc. can all belong to Memecoin, which is dominated by the incident.
BOME (BOOK OF MEME) is a pre-sale project initiated by Pepe Meme artist Darkfarm. The pre-sale fundraising has raised more than 10,000 SOLs. Due to the widespread attention, the trading volume of tokens has exceeded US$200 million. After Binance was launched in three days, the market value exceeded the highest.1 billion US dollars; SLERF, which followed the same pre-sale mechanism, accidentally destroyed LP and airdrop reserved tokens due to DEV. The emergencies and subsequent spreads have caused the price of Meme tokens to show a spiral upward trend.
However, if Meme caused by emergencies does not obtain continuous attention from the market in the future, the price will converge and decrease.The market value of Fight tokens derived from Trump’s assassination once exceeded US$80 million, but now lacks attention. Market value has dropped by more than 90%. Sotheby’s Vice President Michael Bouhanna issued art concept on PUMP.FUN Meme Coin BAN online BinanceThe highest point fell by 85%.
Community-driven IP Memecoin
IP type Memecoin often has a strong consensus, the formation cycle lasts for a long time, and communities can be formed after a long period of time. This type of community-driven IP Meme shows strong resilience in 2024 fluctuations.It may experience a long period of washing from appearance to new highs. Its core feature is that it has a high community consensus and a strong CULT temperament or shows strong resilience in repeated declines and ups and fluctuations.Similar targets that include Cult series POPCAT, SPX, APU and other MEW, NEIRO, MANEKI, etc. have already formed IP.
MEW (cat in a dogs world) is a cat that bravely fights dogs. After the token was launched in March this year, the market value of the “cat track” reached a maximum of 1 billion. Another IP, Maneki (Japan ZhaocaiCat) also references its 90% liquidity pool, 10% community allocation mechanism, causing too short-lived Fomo.Another example of community IP type Memecoin is Neiro. Neiro is the prototype of the dead Dogecoin Shiba Inu internet celebrity Kabosu The name of the rescue dog adopted by the owner recently. The token has a market value of nearly $50 million in two days after its launch, and the token price revolves around the public chain.The problems and case problems fluctuate repeatedly, and the hype of assets continued from the chain to the exchange.Ethereum lowercase Neiro finally won with the community, with a market cap of up to $1.2 billion.In addition, Murad, as a new super-cycle star, has its token screening criteria for at least six months and has experienced at least two 70% plunges.Therefore, although SPX’s short-term rise is due to its influence, the importance of community IP is the reason why it was reborn in the repeated declines.
The concept of celebrity effect dominance Memecoin
Memecoin’s performance often forms a bonding relationship with key characters. Celebrities can promote related concepts through specific Memecoin, and tokens will become further popular due to the celebrity effect.Its core feature is that the fluctuations in currency price are correlated with the influence of celebrities and the strength of the binding relationship.Similar to DOGE, PNUT, TERMINUS, etc. led by Musk, and others such as JENNER, MOTHER, etc. belong to this type.
The behavior and impact of celebrities sending coins in this Memecoin super cycle is also different because of the emergence of Pump.fun. Its pace is faster and its multiples are higher, attracting many Web 2 celebrities to participate.The JENNER token developed by Caitlyn Jenner, a member of the Kardashian family, rose 160 times in one night; the Meme coin MOTHER contract included in the tweet on X in 2 minutes, with the highest market value.Break $200 million.Musk concept coin is the focus of Memecoin players. Whenever he publishes on social media the topics he pays attention to, such as the concept of Mars (TERMINUS), the government efficiency department (D.O.G.E), the political concept (PNUT), etc., the relevant links on the chainThe token will usher in a short-term increase.
Emerging Memecoin across fields and multi-dimensional
This round of Memecoin’s super-cycle hype is no longer limited to native Web3 content, but spans multiple fields and covers a wider range of topics and topics.In each sector, there are many types of speculation targets and are rapidly circulating, attracting attention from multiple fields.From TikTok traffic to new AI technologies, to cutting-edge disciplines such as DeSci (decentralized science) and physics, Memecoin’s hype momentum has spread rapidly, and the fields involved have been continuously expanded, showing a trend of cross-border integration.Memecoin seems to have become a test field for emerging technologies and an experimental field for unproven tracks.The core feature of this type of Memecoin is its novel narrative and wide range of out-of-circle.Similar to MOODENG, PESTO, CHILLGUY, GOAT, ACT, VIRTUAL, AIXBT, RIF, URO, etc., all belong to this type.
Moo Deng is a little hippo born in a Thai zoo. Because of its meme expression, it became a social media darling on TikTok and Instagram, and eventually became the annual emoticon package selected by Twitter.The market value of Moo Deng token on Solana once reached US$700 million. As the smallest market capitalization Memecoin successfully entered Coinbase, which triggered the demand for Meme hype for the Web 2 sector.After that, PESTO and CHILLGUY tokens also attracted widespread attention due to their powerful Web 2 traffic, and their market value once exceeded US$500 million.
And the subsequent hype for AI agents was also hot.GOAT comes from the AI Bot, Truth Terminal (@truth_terminal), which was launched in June this year. Its market value soared by more than $1 billion in the short term. Subsequently, AI Memecoin such as ACT and ELIZA quickly occupied the minds of players on the chain, ai16z, zerobro, virtual,Aixbt and other AI Agent-related application coins gradually develop into an ecosystem.Afterwards, Binance announced its investment in BIO, and DeSci (Decentralized Science) entered the public’s vision. The tokens RIF and URO on the Pump.Science platform, which are combined with experiments, have begun a new round of hype, with a market value of over US$200 million.
Recommended reading: “Deconstructed Memes, why do MEMEs perform excellently this cycle?》
Mainstream acceptance and adoption
From its initial marginalized assets to being widely watched by institutions and investors, Memecoin has continued to grow in its user scale and capital inflows are increasing, and it is gradually gaining recognition and adoption by mainstream markets.
Judging from the inflow of funds, the liquidity of the market can be clearly checked.Many institutions have begun to configure Memecoin; major exchanges have launched Memecoin one after another; market makers have actively hoarded Memecoin.As of December 23, 2024, Memecoin’s overall market value has climbed to US$230 billion and is showing a growing trend.According to a report released by Bybit in June, institutional investors increased their spot holdings by nearly $300 million in the first half of the year.Almost all crypto exchanges have launched a variety of Memecoins. Binance has launched more than 20 Memecoins (including futures and spot) since 2024, of which 80% of the tokens have experienced significant market value growth after they were launched on Binance.Five crypto market makers including Wintermute, GSR Markets, Auros Global, B2C 2 Group and Cumberland DRW all hold Memecoin with a holding value of over US$100 million.
From the perspective of user growth, the first is a significant change in attitude.A16Z, which was still arguing over value coins in the first half of the year, began to participate in the hype, which unexpectedly gave birth to the first AI Memecoin GOAT.V God also made a vision for Memecoin’s future and participated in MooDeng’s publicity and charity work.Pantera partners also publicly expressed their recognition of Memecoin as the easiest way to get the next generation to experience the latest DeFi applications and bring them to Web3.Not only that, more and more Web2 users are beginning to recognize the value of Memecoin. DeSci’s scientific aid experiment, Dogecoin’s marine garbage cleaning program, NOT as a social reward and red envelope function, etc., are created for Web2 users to understand and accept Memecoin.Soil.According to statistics, from the beginning of 2024 to the end of the year, the number of Memecoin users worldwide has exceeded 50 million and is still growing.
Conclusion
BTC, as the largest meme coin in Web2, has exceeded 100,000 US dollars and has been proven by the market.As an early participant of Memecoin, is it a gambling dog who pursues getting rich or a very forward-looking investor?Where will Memecoin eventually go? Will it disappear after marginalization or gradually develop and then enter the mainstream?
Cycles alternate, time tests the truth, and the answer is written in the future.
