Summary: Did you say thank you today?
In light of the recent dull market conditions, the fervor for memes has also faded significantly. The token birthed on Pump.fun on March 3, with only one maintaining a market cap of over $1 million within 24 hours, this outstanding graduate is $PWEASE. After two days of washing and fermentation, its market cap peaked at $35 million, currently quoted at a $25 million market cap. Why has it become the strongest meme recently?
'Have you said thank you once?' Under the questioning of U.S. Vice President JD Vance, Ukrainian President Zelensky sighed helplessly, giving birth to the Pwease meme. The original meaning of Pwease is a cute or babyish version of 'Please,' commonly used in informal and playful contexts. Opponents believe that JD Vance's questioning is offensive and high-quality for President Zelensky and the Ukrainian people, leading to the rapid viral spread of the meme's babyish image online.
Many people have high expectations for $PWEASE, comparing it to the $BODEN released during the same period last year, both being Memecoins of political figures. One highlights the meme of former President Biden's old man image, while the other portrays U.S. Vice President Vance in a babyish manner. $BODEN reached a market cap of $750 million, leading to the belief that $PWEASE will also achieve good results.
Similarly, some Degen believe this is just a fleeting moment for daily gold dogs. In this market situation, purchasing new Memecoins should be less than a $5 million market cap rather than tokens over a $20 million market cap.
Polymarket also followed the trend, initiating several votes related to Trump, JD Vance, and Zelensky, using the meme of big-headed JD Vance and altering words in the voting questions to variants similar to 'Pwease,' such as 'Apowogee,' 'vewy,' etc.
Just a few days ago, the crypto angel investment platform Echo raised $100 million, and founder Cobie switched to a baby-faced Vance avatar, after previously being troubled by wanting to change his bob the builder avatar.
According to Know Your Meme, the creator of the $PWEASE meme is 31-year-old 7/11Truther 'DaveMcNamee3000'. The original concept of the meme came from a tweet by Truther in October 2024, stating, 'For every 100 likes, I will make Vance's face look more like a baby with apple cheeks,' accompanied by an image of a larger Vance with enhanced cheeks. This tweet garnered a total of 237,000 likes within three weeks.
After this, the babyish image of Vance spread rapidly, extending into various forms. Following the meeting with Ukrainian President Zelensky, Vance's babyish image became even more deeply ingrained in people's hearts. Prior to this, Nick Tomaino, founder of the cryptocurrency investment firm 1confirmation, expressed on social media that JD Vance, at only 39 years old, has a political style that is completely opposite to the current 'old age politics.'
In addition, the usual practice with Memecoins is that once a meme becomes popular, a related character's Memecoin is sure to be created. Dave is no exception; internet users have turned him and his dog into Memecoins, but neither performed well. The highest market cap was only $480,000, and Dave, who received tokens, felt that Crypto pressure was too much for him, deciding to sell all his tokens and donate the money to the LGBTQ organization 'TrevorProject' in opposition to JD Vance's political views.
Whether this is a collective FOMO from Degen after many days of not seeing gold dogs in extreme market conditions, or a cultural movement representing conflicting ideologies behind it, remains unknown. However, $PWEASE has indeed shifted market attention back from celebrity coins to the essence of meme culture. Of course, none of the above should be considered investment advice; in extreme market conditions, always cherish your chips.