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Author: Zack Pokorny, Galaxy; Compilation: White Water, Bit Chain Vision Realm
Whether you like it or hate, Meme has become the cornerstone of the encryption economy.Meme is not known for technological innovation or breakthrough in the boundaries of blockchain expansion. Some suspects claim that they have no value at all.Some builders of the blockchain ecosystem even thought that Meme covered their serious work and damaged the overall brand and image of the encrypted.However, due to the viral characteristics of its spread, MEME has surged in a broader crypto market and accumulated great value.
Fundamentally speaking, Meme is the thought, symbol or behavior spread between subculture or subculture.History shows that Meme has existed for several centuries in human civilization through different forms and different media.They are likely to continue and presented on the most widely used communication channels.During the period of popularity, Meme rose significantly, and investors gathered on websites such as R/WallStreetbets. They expressed their dissatisfaction with the status quo by investing by the Wall Street giants (the most famous is GameStop).This phenomenon does not need to be permitted to further expand this phenomenon.Dog coins may be the initial Meme, but in recent years, MEME’s popularity has exploded.We estimate that there is no need to license on the blockchainThe total market value of Meme exceeds 60 billion US dollarsEssenceThe growth of MEME is based on the currency contact shared by the holders of the non -Quality Turbine project, and it shows that communities, culture, groups, and trends may be more and more dependent on currency tools to achieve cohesion and speculation.
MEME and expression from ancient times to the present
Although the content of Meme and the information it conveyed continued to evolve with the changes of society, culture and technology, the digital pictures we shared and ridiculed today are nothing new.They just continued with the earliest people’s evolution for thousands of years.Stories are an indispensable part of human beings. Whether it is organic marketing or intentional publicity, the viral MEME image, prose, and concepts have played an important role in the formation and changes of human society.From cave murals to Rome graffiti, from the anonymous booklet spreading from viral -type to newspaper comics, the widely shared images and concepts convey knowledge, helping to overthrow the government, and promote social changes in various times.
Although Meme has always existed in this general sense, the two important parts have undergone fundamental changes in the entire history: expressing their media and communication methods.The oral tradition of ancient society condenses the complex history into an unforgettable and repeated story, which is essential for passing knowledge to future generations.Viral images are widely used in ancient Greece and Roman society to convey political information. As the methods of creation and communication become more advanced and convenient, the influence of viral images is increasing.Blockchain is the next stage of MEME evolution, because its technology has been widely standardized, ledger is permanent and incompatible, and can be accessed worldwide.
Evolution of Meme canvas
Since the birth of humans, the inherent desires of expressing and sharing experience, emotions and ideas have always been the driving force for exchanges and cultural development.The earliest humans used charcoal and chisels to engrave their thoughts and observations on the walls and stones of the cave, creating the first known “Meme”.These primitive Meme proves the basic needs of human beings for the sharing of connection and culture and expression elements.
With the prosperity of civilization and the advancement of technology, the medium depicting Meme is constantly changing.Paint, ink, slate, and paper became new canvas. Beautiful murals appeared in ancient public buildings. A disgusting graffiti appeared on the Roman Bouquet, and satirical comics appeared on the newspaper.
The birth of modern Internet Meme in 1993 marks the last paradigm of our expression and sharing of ideas.Through email and message board, the digital field has become a new frontier of Meme evolution, allowing individuals to participate in and share Meme with larger and more expressive scale.
Today, the emergence of Meme has made us at the edge of another change time in the history of expression and distribution of history, which has also changed interpersonal exchanges.Blockchain as a canvas and dot -point (P2P) network as a meme, as a wide use of the rails, marks a new era of human exchanges and cultural evolution.Just as the printing machine completely changed the spread of thoughts in the 15th century (event), the TV and the Internet changed the spread of ideas in the 20th century. The blockchain will redefine in the 21st century.Way.
Evolution of the meme distribution
In the early days of human civilization, Meme probably exchanged through the hands between people. Although this process was not efficient for large -scale communication, it was the most advanced communication method at that time.As humans develop more complex communication tools and technologies, such as writing, printing and painting, the spread of Meme has become more extensive.The graffiti and paintings on the walls of the building make more extensive audiences in contact with these cultural elements, even if the Meme itself is also limited.
The emergence of newspapers marks an important milestone in human communication and MEME in the form of comics and cartoons.Although MEME’s creation is more restricted in this medium, because cars, bicycles and stores are used as the use of communication channels, MEME’s spread is much easier.These transportation was one of the most important progress at the time, allowing information, ideas and culture to spread quickly to the general public.
The rise of television and the Internet has opened a new era of MEME spread, making Meme’s access to democratic, so that people can watch Meme from anywhere in the world.The privilege that once decided that the right of Meme access was largely eliminated, because anyone with an Internet connection or television broadcast could participate and share these cultural elements.With the advancement of these technologies and its applications, MEME’s creation has become simpler and simpler, and the emergence of tools and platforms has promoted the production and dissemination of Meme.
Throughout history, Meme has always entered the most advanced, influential and most widely used communication channels in his own way.All of this has a significant impact on humans.
The use of blockchain as a medium expressed by Meme highlights the importance of this technology as a central platform that shares ideas and experience as a pure digital era.
Meme on the blockchain
Memecoin is a tokenization description of the Internet Meme or other humorous events or concepts.They are native assets of the blockchain, can be transferred, can be used for blockchain -based applications, and can be traded in secondary markets such as DEX.Memecoin is usually expressed by its code or identifying their letters, and there are also related characters or other visual effects, just like the Meme that most people know today.For example, Dogecoin is a Layer 1 blockchain created for the satirical Bitcoin in 2013, depending on Shiba Inu photos recently popular on the Internet.Dogecoin is a fork of Bitcoin. It is launched before the tokens, so $ Doge requires its own Layer 1 blockchain to exist.Today, the existing Layer 1 blockchain (such as Ethereum, Solana, and even Bitcoin) can carry and issue non -native currencies, and their ecosystems are equipped with token contracts and decentralized exchanges used in the box.And other tools to promote the issuance of tokens.
Behind each Memecoin is a contract binding with Layer 1 blockchain or Layer 2 network, which specifies the name, supply volume, supply, and other detailed information about the name of Memecoin.Only by starting one of the token contracts can the Memecoin be deployed.In the early era of blockchain, most of the issued tokens cost high and difficult, because it requires technical capabilities to write or adjust contracts, issue tokens on the blockchain, and create liquidity pools on DEX for people to trade.Nowadays, many difficulties have been abstracted by service. These services will automatically issue token and create liquidity pools after entering the detailed information of its Memecoin.Recently, Pump.fun has become a popular place for MEMECOIN, but many ready -made tokens can be easily deployed on various blockchains.It is relatively easy to issue Memecoin, which produces the flywheel effect, which has led to the generation of Memecoin and the speculation on them to unprecedented scale.
Gambling as a means of distribution
In almost the definition, except for very few exceptions, MEME coins have no real practicality.Although dog currency is a GAS tokens used to buy block space on the dog currency blockchain, today’s MEME coins are almost completely worthless native GAS tokens.On the contrary, Meme currency usually does not have the corresponding GAS or application of the Blockchain tokens. It is usually promoted by creative personnel, being held by the community or speculating by traders.EssenceDue to the lack of basic use of the underlying layer, the volatility of MEME currency is very large, and their volatility has become a carrier of attracting users, so that they and their blockchains can be wider use and understanding.The desire for crazy returns and wealthy overnight is the motivation for many people to be interested in Meme currency.The possibility of increasing financial wealth is the initial (until today) to promote the catalyst used as a cultural and emotional expression canvas on the blockchain.
Some people say that this is a flaw, indicating that Memecoin is temporary, or it will gradually disappear as people make money and lose money.However, as we pointed out, Meme has always existed, and the desire to make money quickly has always existed.Although Meme in the Internet era is now everywhere, it is not until recently that they have become assets that can be monetized and traded.Blockchain is a combination of virus transmission with powerful information with the desire to seek wealth.This combination is new and is likely to continue to be popular.
Data
In this part of this report, we will study the chain activities and values promoted by Memecoins in the past few years.
Solana is the main blockchain of MEMECOINS in 2024.The low -cost environment of Solana reduces the threshold for users to create and transaction MEMECOINS. The fast transaction confirmation speed makes the use of the blockchain experience comparable to MEME on the Internet browser.The end of 2023 marks the turning point of Meme on the chain.From August to November 2023, Solana increased an average of about 9,000 tokens a day, and now an average of 28,000 tokens is added per day, which is more than three times that of the number.During the peak, use a 30 -day moving average, it adds more than 100,000 tokens per dayEssenceAlthough not all these tokens belong to Memecoin, the large meme culture existing on Solana can enable it to act as an agent created by Memecoin in the encryption field.
In the past 30 days, based on the market value, the average trading volume on the chain of the top ranking of Solana Memecoin was between US $ 91 million and $ 109 million.Based on the market value, the average transaction volume of the top two Solana Memecoin Bonk and WIF accounted for 59%during this period.
With the increase of transaction volume, the user base has also continued to expand.The ten main Memecoins of Solana have a total of more than 1.136 million independent holders.Please note that this number will be deemed to hold multiple Memecoins as a single holder.This trend highlights the coverage of Memecoins and the speed of the spread of the trend.
However, Meme coins are not from Solana.$ DOGE is one of the earliest and most valuable MEME coins in cryptocurrencies. It was launched in 2013. As of May 29, 2024, its value has reached $ 24 billion.$ DOGE was launched on its own blockchain Dogecoin network.In addition to Dogecoin, Ethereum was the original platform of MEME currency in the cryptocurrency bull market in 2020-2022.Ethereum is the birthplace of iconic Memes such as Shib. Recently, there are PEPE and Harry Port Obama Sonic 10 inu, which has made Meme play an important role in standing on the blockchain.Even if the activities on Ethereum have moved to other networks, it still has the second and third largest MEME coins among Shib and PEPE.
As the number of MEME coins increase, their scale is also growing.As of May 29, 2024, the total value of the top MEMECOINS was 57 billion US dollars, an increase of 3.5 times over the same period last year, and a 4.8 -fold increase from the bear market.One of the interesting features of this chart is that four of the seven Memecoins in the figure were created within the last 511 days on May 29, 2024; two of the seven Memecoins were launched within 160 days.This is prominentThe rapid change of Memecoins and the lack of durability due to the rapid development of human and Internet culture today.
Over time, people are more accustomed to using blockchain as a cultural exchange platform, and the type of Meme on the chain has become more specific. From major dogs and animal currencies to Memecoin, which expresses political beliefs and perspectives.This change indicates,Blockchain is becoming a more important means of communication, and Meme is the main carrier.The figure below tracks the total market value of the top “Politifi” tokens or MEMECOIN depicting politicians and symbols.
It was not until 2024, the year of the 40th presidential election in the United States, that these types of MEME appeared on the blockchain.Memecoin, who represents politicians, basically does not exist in the past, although they already exist several election cycles.However, some politicians, such as former US President Donald Trump, have tried NFT in the past.
Not obvious Memecoin effectiveness
Although Memecoin does not provide any specific practicality as assets -they are not used to buy block space like Layer 1 native assets, and they rarely have any governance or application practicality -but some have led to a significant secondary levelActivity.For example, the dog -theme MEMECOIN $ BONK was launched on Solana shortly after the FTX collapse at the end of 2022.Because it is closely related to Sam Bankman-FRied and FTX, the utilization rate of the Solana blockchain decreases significantly.$ SOL itself is the native currency of the Solana blockchain. Its value has fallen by 86%from the historical high in November 2021, but it has fallen by 78%between FTX crashes and early 2023.$ Bonk was originally to re -ignite people’s interest in Solana and catalyze on the chain activities. By the free MemEcoin of Sorana developers, application users and NFT holders.And it does work. In addition to the sharp rise in prices, since launching,$ BONK has been integrated into the Solana ecosystem, and has been integrated more than 129 times in the DEFI, games, NFT and other types of chain applications;BONK special applications, such as Bonk AMM, belonging contract, and even gamified fitness applications Moonwalk.
Memecoins can also act as the liquidity of the newly designed application pipeline.Today, decentralized exchanges and DEFI applications provided by MEMECOINS to MEMECOINS may become infrastructure that will provide support for a more traditional token market in the future.Just as MakerDao is an application that allows users to convert ETH into stable coins, but now it is one of the main ways of traditional asset issuers to bring the United States Treasury bonds.The explosive growth of Memecoin may also lead to the development and evolution of the original application of new applications, thereby promoting the more persistent blockchain adoption in the future.
in conclusion
In 2024, the two major market segments promoted most of the traffic and interests of the cryptocurrency market: Bitcoin (especially the United States launched spot BTC ETP) and Memecoins.Other important market segments (such as NFT, DEFI, and games) continue to grow and develop, but most of their tokens have not performed well, and the market has not drove them as a driving narrative.New technology concepts are still the most concerned on people, such as modularity and re -pledge, but most of them have not been launched.The continuous performance of Bitcoin and increasingly growing institutions have continued to become a powerful macro -cryptocurrency narrative, but the most powerful cryptocurrency native narrative in the market today is MEMECOINS.
Although many people think that Memecoins is nihilism and is essentially useless, their existence is based on several generations of virus stories, and their activities continue to promote the use of blockchain.The important role of their appearance on the chain is not how much they should be worth, but that the blockchain is used as a communication channel for spreading them -because they are expected to become a wider expression channel in society.As the blockchain is more and more concerned about the means of communication and cultural exchanges, the integration of MEME and technology has made this new media compare with newspapers, cars, television and the Internet and other media. All of them have a huge impact on humans.And become a global technology.
