Author: Neptune Mutual Source: Medium Translation: Shan Ouba, Bitchain Vision Realm

In recent years, Memecoin and NFT have become important assets in the encryption world.

Memecoins is an encrypted currency inspired by the Internet Meme. It has gained considerable popularity and gathered millions of followers.Community support and hot discussions on social media have led to a significant increase in prices.On the other hand, NFT is a digital asset on the blockchain, representing the ownership of unique items such as art, music or collectibles.Unlike Memecoin, NFT usually has some practical programs in its ecosystem.

The bull market is famous for its price appreciation and plays a vital role in asset growth.During the bull market, investors are more willing to bear risks in novel assets, which leads to the popularity and value of Memecoin and NFT.This environment has promoted innovation and brought a wider audience to these digital assets, highlighting their potential and traps.

In this blog, we will discuss the dynamic comparison of Memecoin and NFT in the last round of the bull market in the last round of the bull market.

Memecoin in the bull market last time

The last bull market occurred in 2020-2021 and was famous for its web3 institutions.Bitcoin breaks through the early high point to reach $ 64,000.This rise marks the transformation of user concepts, promote speculative activities, and leads to cryptocurrency with many institutions and organizations.

At this stage, aluminum coins such as dog coins and Shiba Inu have become outstanding participants in the cryptocurrency field.Driven by the fanaticism of social media and retail investors’ fear of missing opportunities, the prices of these factors soared to extraordinary heights.

Dog coin was originally created as a joke in 2013, but received great attention in 2021.In fact, we have witnessed the significant growth of dog coins, making it the 10th cryptocurrency of the market value.In May 2021, it reached a record high of $ 0.731.This is largely due to the recognition of celebrities such as Elon Musk and Mark Kuban.

Shiba Inu, which is usually called “dog coin killer”, follows the popularity of dog coins and growing.Platforms such as Reddit, Twitter and Tiktok played a key role in spreading emoticons, triggering virus interests, and increasing prices.

Many investors regard these tokens as lottery, hoping to use short -term returns rather than long -term investment.The influence of media reports has greatly enlarged price changes through the sensational headline news and viral tweets.

Memecoin in the current bull market

Today’s bull market began around April 2024. The popularity of new models such as PEPE has risen, and they have joined the list of cryptocurrencies inspired by the model.PEPE, based on the cause of the “Pepe frog”, has quickly attracted attention due to its interesting ideas and active communities.

The market dynamics changed, and investors became more cautious.They no longer pay attention to any factors, but focus on the potential use of the currency, the strength of the community and their financial models.This makes the Memecoin market more stable than before.

The emotions of investors also seem to have changed.Not only are people interested in fast profit, they also focus on the long -term prospects and community activities of these coins.The Memecoin community has become stronger and stronger, and participates in the promotion of their currencies more, and sometimes even create real -world projects and activities.

Although users are vigilant and cautious, they still become victims of various factors vulnerabilities.Taking the Normie and Rugpull hacker attacks operated by Condom as an example.

The last round of NFT

In the last round of bull market, the popularity of NFT (non -alternative to the tokens) soared, becoming a major trend in the encrypted world.Although NFT was recognized and listed after the EIP-721 standard in 2017, it was a year of testing and development.The launch of Cryptopunchs and Cryptokitties was very eye -catching during the period when helping the NFT ecosystem formed.

NFT’s index-level prosperity occurred during the bull market in 2020-2021.The main trends at this stage include the rise of digital art and collectibles.Cryptopunks and Bored Ape Yacht Club and other platforms have become very popular, providing digital incarnations that users can have and transactions.These NFT usually act as the status symbol and collectibles in the digital community.

With the support of the novelty of digital assets and the convenience of transactions on the blockchain platform, market growth has exploded.Media reports and celebrity endorsements have inspired the public’s interest, introduced NFT to the mainstream, and encouraged more people to explore this new form of digital ownership.

High -profile sales have become headline news, and some NFT sells for millions of dollars.Beeple’s digital art work “Everydays: The First 5000 Days” was sold for $ 69.3 million in March 2021.In 2021, the NFT market spent about $ 41 billion in cryptocurrencies, showing its rapid rise and huge market interest.

In terms of vulnerability, Stazie lost about $ 1 million in online fishing fraud in August 2021.Iconics, EVOLVED APES, Bored Bunny and Frosties are some fraud projects after the bull market.

NFT in the current bull market

After the last bull market, the NFT market fell sharply, causing the NFT collapse in 2022.Many NFTs, including popular NFTs, have fallen and touched the base price.

Although some interests reappeared around 2023, the NFT market may recover a certain degree in the bull market in 2024.However, it is unlikely to see speculation and chart explosive growth like 2021.

One of the main development of the current bull market is the evolution and new trend of NFT, as well as expansion to the fields of games, Yuan universe and sports.This enables players to have unique items in virtual worlds and games.Similarly, traditional brands entering the NFT field may also promote its development.For example, Starbucks launched the first paid NFT series in March 2023, selling 2,000 digital stamps at a price of $ 100 in just 20 minutes.

Pudgy Penguins is a prominent example of the NFT project currently set off.Although it was launched in August 2021, it received the greatest attention a few months before 2024.These PFT theme arts soared due to their attractive arts and powerful communities.

In any case, investors’ attitudes are mature, and they pay more attention to the actual income of NFT, rather than speculative transactions.In addition, there are many NFT projects with small size, more affordable prices, and more practical uses, rather than only a few high -value collections like 2021.

The industry is still facing challenges such as pulling, online fishing attacks, smart contract vulnerabilities, and DEFI wallet problems, which may affect the confidence of users.For example, in September 2023, the Internet fishing attack against Opensea exposed security issues that needed attention.

Similarly, Metadragon is one of the latest hacking attacks caused by smart contract vulnerabilities.

Comparison analysis

Compared with the last and current bull market, Memecoin and NFT showed some similarities and differences.

During these two periods, the factors such as dog coins and PEPE have seriously relying on social media hype and community support to promote interest and prices.However, the current investors are more cautious and evaluate long -term value and community participation, rather than just rely on hype.

The trend of NFT is also constantly developing.NFT has calmed down as a high -priced sales and general excitement as a collection.Today, NFT pays more attention to games, the practicality of the virtual world, and the integration of traditional brands, so as to achieve a more balanced growth model through smaller and more practical projects.

In terms of security, both markets have experienced hacking and fraud, causing millions of dollars to lose.In the two bull markets, fraud, online fishing and smart contract vulnerabilities have been used to affect digital assets.Coping these challenges is still vital to maintaining investors’ confidence in these two assets.

Legal Memecoin and NFT projects are continuously strengthened defense through audit and vulnerabilities by smart contracts.As a user, you need to keep vigilance and check whether there are potential vulnerabilities in the project.Check the community and user emotions of the project may help.

In addition, the use of multiple signature wallets (transactions require multiple approval), advanced consensus mechanisms and hardware security modules are essential for building a safer infrastructure.

For digital asset owners, another effective way to protect assets is to consider DEFI insurance.It provides financial protection to prevent losses caused by hacking, loopholes, or other unforeseen security vulnerabilities.