Comprehensive Analysis of the MEME Track —— How to Become a Golden Dog Hunter?

Introduction

MEME plays a core role in Web3 culture, quickly resonating within the cryptocurrency community through its unique dissemination methods and widespread popularity. These often humorous and satirical digital images or concepts not only deepen the connections between community members but also become important means of expressing opinions, emotions, and market trends.

MEME can transcend language and cultural barriers, achieving widespread dissemination at a very low cost, thus playing an indispensable role in promoting awareness and participation in Web3 projects.

Recently, the performance of MEME coin in the market has attracted widespread attention. According to data from the data platform, the market capitalization and trading volume of MEME coin have shown significant growth, reflecting the popularity of this type of coin and the high interest of investors.

For example, BOOK OF MEME ($BOME) achieved over 1000% growth in a short period. The main reason behind this phenomenon is that the supply of MEME coins is large and the unit price is low, making them an ideal choice for attracting funds during a bull market, as investors seek the possibility of high returns through small investments.

In addition, MEME coins often revolve around light-hearted and humorous themes, making them easy to spread quickly on social media, thus attracting more attention and participation.

1. The Spread Mechanism of MEME

1. Social Media and Community Interaction

Social media platforms are key channels for the dissemination of MEME coins. Through Twitter, Reddit, Telegram, and others, project teams interact directly with users, sharing updates, hosting events, and responding to community feedback. This interaction not only enhances the project's visibility but also strengthens community cohesion, making information dissemination faster and more effective.

Bitcoin ($BTC), as the earliest cryptocurrency, primarily engages its community through social media platforms such as Twitter and Reddit. Members of the BTC community frequently share market dynamics, technical updates, and investment strategies, forming a robust information-sharing network.

For example, the r/Bitcoin subreddit on Reddit has over 1 million subscribers, and these users enhance BTC's brand awareness and market influence through discussion and sharing, forming a strong sense of community consensus.

2. Viral Marketing

The viral marketing of MEME Coin relies on highly shareable content, such as catchy slogans, entertaining images, or unique concepts. This content is easily accepted by users and spreads rapidly on social networks, achieving low-cost yet efficient marketing, allowing MEME Coin to gain widespread attention in a short period of time.

$AKITA utilizes the visual elements of Shiba Inu, which has a broad audience base in both Web2 and Web3 worlds, rapidly spreading through creative content on social media platforms.

For example, $AKITA community members created various MEME images and videos related to Shiba Inu, which were widely shared on platforms like Twitter and Reddit due to their humor and visual appeal. In addition, $AKITA further enhanced its viral marketing effect by hosting online competitions and interactive activities, such as the creation and auction of NFT artworks.

These activities not only increased community engagement for $AKITA but also attracted the attention of more potential investors, making $AKITA a popular MEME coin in the market in a short period of time.

3. Utilizing Celebrity Effect

Utilizing the celebrity effect to promote MEME coin involves collaborating with influential public figures to share MEME coin information through their social media platforms, attracting the attention of their fans.

Create engaging content, such as challenges and live streams, to increase user participation. Launch limited edition MEME coins or merchandise in collaboration with celebrities, and enhance brand image by integrating charitable activities. Meanwhile, monitor the effectiveness of promotional campaigns to ensure that the celebrity effect translates into actual market impact.

The popularity of $DOGE is attributed to the celebrity effect of Elon Musk. Musk has mentioned DOGE multiple times on Twitter, calling it "the people's cryptocurrency," which has resonated widely with fans and the media. These tweets not only enhanced the brand recognition of $DOGE but also sparked the creative enthusiasm of the community, resulting in a large amount of related derivative content.

Every time Musk mentions anything related to dogs on Twitter, it causes the price of $DOGE to skyrocket, becoming an iconic symbol of cryptocurrency culture.

4. KOL and Community Influence

Key Opinion Leaders (KOLs) play a crucial role in the promotion of MEME coins. Their recommendations and endorsements can significantly enhance the project's credibility and appeal. Additionally, the influence of the community should not be overlooked; active community members can accelerate the dissemination of project information through word of mouth.

The $SHIB community has effectively increased the project's visibility by collaborating with several key opinion leaders (KOLs) in the cryptocurrency field. For example, when a well-known KOL like CZ (the CEO of a certain trading platform) mentions $SHIB on social media, their large following becomes interested in the project.

In addition, the active interaction of $SHIB community members on platforms such as Twitter and Reddit, through sharing trading experiences, creating MEME content, and participating in discussions, has further enhanced the project's appeal and credibility. This synergy between KOLs and the community has made $SHIB a hot topic in the cryptocurrency market in a short period, attracting the attention of a large number of investors.

5. Wealth Effect

The price fluctuations of MEME currency are often accompanied by a strong wealth effect. When prices rise, new investors are attracted to the market, hoping to gain profits by participating. This effect not only drives further price increases but also expands the cultural dissemination of MEME currency.

Silly Dragon (傻龙) was launched by Solana founder Anatoly Yakovenko during Halloween 2023. This direct support from the founder of a public chain adds trust and authority to the project, further enhancing its wealth effect.

$SILLY has shown significant market growth in a short period of time, reaching a market value of 70 million USD in less than two weeks since its launch, with over 8,600 holding addresses and an on-chain liquidity pool of up to 1.2 million USD. This rapid market growth is viewed as a wealth effect, attracting more investors and traders.

6. Incentive Mechanism

The incentive mechanism is one of the important strategies for promoting MEME coin. Through airdrops, trading burn taxes, and lucky draws, the project team encourages users to hold and trade tokens, thereby increasing market activity and user stickiness, while also bringing more attention and discussion to the project.

$AIDOGE adopts a diminishing airdrop mechanism, where early recipients can obtain more tokens. This mechanism incentivizes users to participate early, thereby increasing market competition and the initial demand for the tokens.

At the same time, a transaction burn tax mechanism has been designed, where each on-chain transaction incurs a 15% burn tax. A portion of this tax is used for ecological development, another portion is destroyed, and a part is rewarded to liquidity providers and holders as staking dividends. This mechanism increases the scarcity of the token, thereby enhancing its value.

7. Unique concepts and designs

The design of MEME coins is often closely related to their concepts, with unique visual elements and cultural meanings that make them stand out among numerous cryptocurrencies. This design not only increases the project's recognizability but also makes it easier for MEME coins to be shared and discussed on social media.

The concept of $BOME is "Book of MEME". This project was initiated by the Pepe MEME artist Darkfarm, aiming to create a gallery focused on the permanent storage and creation of MEME. BOME has attracted a lot of attention in a short period and spread rapidly on social media, with its market value increasing significantly in a short time.

The concept of "Book of MEME" is to combine MEME culture with blockchain technology, creating a decentralized platform to preserve and share MEME content. This project raised funds through a presale event and quickly attracted a large number of investors and community members to participate.

The rapid rise of $BOME demonstrates how MEME coins can quickly gain attention and value in the cryptocurrency market through unique concepts and designs, as well as active community participation.

8. Innovative and Easily Spread Topics

MEME coin projects often combine innovative or easily disseminated topics to enhance their visibility. Whether it's related to popular culture MEMEs or references to social phenomena, these topics can quickly spread within communities, resonating widely, thus increasing the project's market awareness.

$SLERF is a MEME coin based on the Solana blockchain that has quickly gained popularity due to its unique narrative and community involvement. The founder of $SLERF accidentally destroyed key tokens due to an operational error and subsequently launched a rescue mission to raise funds to compensate presale participants.

This initiative has received positive responses from the community and multiple exchanges, including support from notable figures and influencers. The price of $SLERF experienced significant volatility but managed to achieve a remarkable rebound in a short period, reaching new highs. Its narrative and market performance have propelled $SLERF to become the focus of the market.

2. How MEME Captures Emotions (Causing FOMO)

In the cryptocurrency market, the popularity of MEME coins is often closely related to their ability to capture and stimulate investor sentiment. FOMO (Fear of Missing Out) is a particularly intense emotional response that plays a crucial role in the dissemination and valuation of MEME coins. The following is a detailed explanation of how MEME coins capture sentiment, especially in triggering FOMO.

1. Viral Spread on Social Media - Rapid dissemination leads to panic buying.

The MEME coin quickly gained attention through viral spread on social media platforms. A tweet about a certain MEME coin or a discussion post on Reddit can be widely shared in a short period of time if the content is engaging or entertaining.

This mode of dissemination not only increases the visibility of MEME coins but also creates a sense of urgency within the community, making people worry about missing the opportunity to participate in a potentially popular project.

The viral spread of $DOGE began with a tweet on Twitter by Elon Musk, calling it "the people's cryptocurrency." He has since mentioned Dogecoin multiple times, becoming its de facto spokesperson.

According to statistics, every time Musk mentions dog-related content on Twitter, the price of $DOGE significantly rises in the short term. Many investors, fearing they might miss out on the rise due to FOMO, eagerly join in to purchase when Musk mentions Dogecoin.

2. The promotion of the community and KOL - Missing out on credible potential gains causes panic

The community and key opinion leaders (KOL) of MEME coins play an important role in capturing sentiment. The endorsement or recommendation of KOLs can quickly enhance the credibility of a MEME coin, making community members feel the need to get involved to avoid missing out on potential gains.

In addition, active discussions within the community and the sharing of success stories will also enhance the feeling of FOMO.

3. Price and Market Performance - The FOMO Sentiment Driven by the Myth of Getting Rich in a Bull Market

The price fluctuations and performance of the market are direct factors that trigger FOMO. When the price of a MEME coin rises rapidly, investors worry about missing the opportunity to profit. The hype and news coverage in the market further amplify this sentiment, leading more people to join the buying spree out of FOMO.

The price of Bitcoin has reached a new historical high, reaching