The cryptocurrency market has rebounded against the trend recently, and the craze for Meme coins has intensified. Driven by a series of Meme coin projects with significant wealth creation effects, many crypto players have flocked to this "PVP war".
Meme coin projects with different tickers and symbols are rapidly spreading to a wider market in an increasingly "abstract" and "cult" atmosphere, which not only spawned a large number of enthusiastic recommendations from crypto KOLs (key opinion leaders), but also refocused the market on the latest developments of Meme coin projects. In particular, Ethereum co-founder Vitalik Buterin's "dumping the market for charity" behavior has added fuel to the Meme coin craze.
Vitalik: Thank you Memecoin for providing charity opportunities
On October 7, Vitalik Buterin wrote that he was very grateful to the Meme Coin projects that donated part of their token supply directly to charities.
He mentioned that any tokens sent to him will also be donated to charity, and hopes to set up a DAO (decentralized autonomous organization) in the future to allow the community to directly participate in decision-making and processes. Vitalik believes that the best outcome of Memecoin is to maximize the positive and positive effects for the world, so it is great to see such charitable acts happen.
Institutions and KOLs have different opinions
VanEck Investment Manager: Pranav Kanade said that Meme Coin has four key aspects that are worth learning from for crypto teams, including simplicity, high liquidity, low entry valuation, founder/team alignment, and high transparency.
Crypto KOL Murad: At the Token2049 industry event, Murad delivered a keynote speech entitled (The Super Cycle of Meme Coin), vividly describing the performance of Meme Coin in this cycle and its subsequent potential. He claimed that in this cycle, the performance of Meme Coin will surpass everything, and he personally participated in the trading of Meme Coin.
Mechanism Capital co-founder: Andrew Kang said that Murad’s speech catalyzed the next wave of capital reallocation into Meme coins, and listed emerging Meme coins such as POPCAT, BONK, WIF, PEPE and FLOKI.
DWF Labs co-founder: Andrei Grachev believes that the Meme coin market has become a mature and stable part of the industry. DWF Labs institutionalized its investment in Meme coins a few years ago, and this remains one of their priorities.
OG KOL Cygaar: Cygaar said that the Meme coin trend is inevitable. It meets the needs of the new generation of Internet consumers, including being always online, loving online culture, looking for ways to make money, becoming part of the community, and needing faith.
Memecoin: a symbol of fairness and connection
If the price of Bitcoin is about freedom, then Meme coins are more like symbols that call for fairness and connection. They are low-threshold, easy to understand, and have a community, allowing investors to enjoy the present, earn high profits, and hope to get rich overnight. Meme coins not only embody people's desire for money, but also embody the expectation of linking reality and the Internet through symbolic image ties. This expectation is the reason why Meme coins can continue to exist and prosper.
However, facing the collective orders from institutions and KOLs, is the Meme coin craze a signal of peaking or a harbinger of new highs? This remains unknown. When participating in Meme coin transactions, investors should remain rational, carefully assess risks and benefits, and avoid blindly following the trend.
