meme coin development history: from internet joke to value reconstruction

1. Overview of Development

The development of meme coin can be divided into three key stages:

1. Breaking Ground/Foundation (2013-2016): Barbaric Growth, The Great Wave Washes Away the Sand

   • Ephemeral type: short-term popularity, lack of cultural accumulation, rapid extinction ( like Mooncoin, TIPS, Nyancoin )
   • Invincible General Type: Cultural Symbol + Community Driven, Long-term Survival ( like DOGE )

2. Hibernation/Outburst ( 2017-2021): In the era of smart contracts, meme coin welcomes a qualitative change

   • Meteor Shining Type: driven by speculation, the bubble bursts quickly ( like UET, HOGE )
   • Stellar Lumens: Ecological expansion, breaking limitations ( like SHIB's ShibaSwap )
   • Transformational breakthrough: attempting innovation, but progress is slow due to various limiting factors ( such as FLOKI's metaverse blueprint and SAMO's public chain binding ).

3. Sediment/Reconstruct (2022-2025): The Rise of New Narratives, the Market Begins to Reshape

   • Short-term speculation type: relies on hot topics, extremely high risk ( such as the political narrative wave of TRUMP )
   • Eco-driven: relying on public chains, short-term explosion ( like WIF, BONK)
   • Narrative Innovation Type: AI + Meme, Concept Speculation, Trust Crisis ( like GOAT )
   • Cultural Symbol Type: Internet Celebrity IP, Short-term Popularity ( such as MOODENG)

2. Case Study Analysis

2.1 Breaking Ground / Foundation Laying Stage

Mooncoin: An unfinished "moon landing" dream

• Launched in 2014, initially stunning performance: over 300% single-day increase in the first year, with monthly discussion volume in the Reddit community exceeding 5000 posts.
• In 2015, major exchanges delisted, causing a market cap drop of over 90%.
• A brief resurgence in 2018, but failed to seize the opportunity, ultimately fading from the stage.

Dogecoin: Unexpected "Grassroots Celebration"

• Born in December 2013, initially just a parody driven by the craze for Bitcoin.
• At the beginning of 2021, due to the surge in retail investment, the market value soared to 10 billion USD.
• In May 2021, under the influence of the Musk effect, the market value reached 80 billion dollars.
• Maintaining a daily trading volume of over 1 billion USD until 2025, with a market capitalization consistently ranked in the top ten.

2.2 Dormant/Active Phase

Useless Ethereum Token(UET): The most honest "scam"

• Launched in June 2017, publicly stated "This is a worthless coin"
• Raised 310 ETH in 48 hours, approximately $93,000
• The initial price surged by 800%, but quickly collapsed due to a contract vulnerability.
• 2020 was marked as "failed project"

(# Shiba Inu)SHIB###: From meme frenzy to ecological ambition

• Launched in August 2020, with an initial issuance of 10 trillion coins.
• In May 2021, it skyrocketed by 1200% due to Musk's tweet.
• Gradually build the "Shib ecosystem": ShibaSwap, Shibarium, etc.
• Remain among the top in market capitalization by 2025

( 2.3 Precipitation/Reconstruction Phase

)# Trump###TRUMP###: The Absurd Union of Politics and Crypto

• Introduced by then US President Trump in January 2025
• The market value once exceeded 10 billion dollars, becoming one of the top three meme coins.
• Affected by the electoral situation, price fluctuations are severe.
• Facing allegations of "profiting from presidential powers" and other questions

(# Dogwifhat)WIF###:meme coin's "absurdism" carnival

• Launching on the Solana chain in December 2023
• Market value surged to 3 billion USD in 104 days
• The popularity of social media continues to surge.
• Faced with the dilemma of over-reliance on public chains

(# Goatseus Maximus)GOAT###: AI Frenzy's Crypto "Packaging"

• Born in October 2024, originating from the prophecy of AI chatbots
• Market value exceeds 700 million USD within two weeks
• The exposure of "AI autonomy" is actually a marketing tactic, leading to a trust crisis.
• Revealing the current essence of "AI token" is still a speculative game for humans.

3. Future Outlook

• Technological Innovation: The popularity of AI + memes continues, and new concepts like DeFAI are emerging.
• Community Building: Celebrity Effect and Community-Driven Coexistence
• Regulatory challenges: Institutions like the SEC are strengthening scrutiny, and projects are facing existential crises.
• Value Reconstruction: Moving from Pure Speculation to Balancing Substance and Hype

Meme coins, as a typical product of the attention economy, will continue to maintain their unique position and influence in the cryptocurrency field. What may remain in the future is perhaps not the craziest meme, but the survivor that best balances hype and substance.