Meme From the sea and back to the sea

Pear Blossom·Night Moon·Begonia·Morning Rain

Meme from Singapore Token2049 to the end of Hong Kong Consensus Conference

History is a spiral upward, and the Super Cycle of Meme is the product of time compression

From Murad, an ordinary employee of OK, to Trump, the most powerful leader in history, who resolutely issued coins

Painful or not, PAIN insisted on completing its debut, whether to speculate on coins or not, CZ began to learn to understand Meme, its momentum has been broken. Not only was there no short essay at the Hong Kong Consensus Conference, there was not much summary of BTC and Meme.

Last September, Lion City Murad educated the industry with a prophetic attitude. Memecoin Supercycle filled the screens of all practitioners. Some people dug gold, some sold water. Before and after the split of Solana Meme/AI Agent Meme and $TRUMP, DEXX, GMGN, UniversalX Arrived one after another, joined the gold digging shovel sales competition.

Yesterday in Lion City, today in Hong Kong, even if Murad first mentioned Supercycle in July, it has only been about 8 months. The most interesting thing is that PumpFun has become the biggest winner. Not only did it perfectly avoid the conspiracy of Solana and Mile, but it also realized SOL at a high level. If there is no paradigm innovation at the public chain level, PumpFun and Hyperliquid should be the most important innovations in recent years.

Prelude, from Zoo Market to Meme

Memories of the past life - the "Zoo Market" started by Doge. As Murad said, Doge in 2021 and the subsequent Zoo Market were the first combination of Meme and Coin. Before that, the encryption industry was in an absolute combination of "technology and public chain" narratives. People never thought that air coins could be speculated and could exist stably for a long time.

The fate of this life-the end of FTX in 2022 is the real beginning of the Meme industry. From then on, the crypto industry has become a real currency circle. The long-term value cannot be attached to the public chain, and even cannot be attached to the CEXs with American background, which should be the most stable and profitable.People feel nothingness. Not only that, FTX also has a chain effect. DeFi has completely survived the wild surge period, and the market dream rate has been wiped out.

This is the prelude to the collapse of VC coins. The price plunge of Binance on VC in mid-2024 is just the end.

Technology + VC < Meme + Coin.

In the void, the market-to-dream ratio of VC coins is like the unmoored UST. After being educated by the market for two years, everyone began to have high hopes for BTC, hoping that the four-year cycle would work hard to save the "copycat" market, but unfortunately, Wall Street took the lead in taking it into its pocket. The passage of BTC ETF plunged the crypto market into a liquidity crisis, and PVP under this situation became abominable.

In a sense, BTC ran out of the crypto market and successfully boarded the external market with more liquidity and purchasing power. It's just that the crypto industry, which is used to BTC's bottoming, is trapped by the established thinking and thinks that the immortal is here to promote itself, but it didn't expect that the demon hunting team is "coming to collect you". You should know that Dogecoin in 2021 did not destroy the market, because the market's attention was on the two major schools of copycats led by BTC and ETH. Dogecoin and zoos were just branches and miscellaneous streams. Even Musk's shouting orders attracted new leeks from outside the circle to a considerable extent. This is the last wave of new forces entering the circle so far. And with the FTX in 2022 and the regulatory storm in 2023/2024, there has been no large-scale entry into the currency circle for two whole years. The rest are all thousand-year-old foxes. You are familiar with Liao Zhai, and I watch the Spring and Autumn Annals at night. We were all taught by the same master and cannot break the tricks at all.

So, Murad grasped the direction of change in market sentiment. He was not a leader. In July, he tweeted, and the exposure was only more than 1,000. However, in September, Token2049 had an exposure of 8 million on Twitter. The consensus of the entire industry that really worked was Murad’s Memecoin Supercycle It is the igniter that created the final consensus of the crypto industry - let's stir up Meme together. In the interlude, Meme blew up VC value coins. With Binance being censored and CZ being imprisoned, VC coins began to seize the last chance to sprint Binance's liquidity, while on the chain, the weakness of ETH L2 made Vitalik and EF the target of public criticism. Here we have to speak up for Vitalik. He is a loyal fighter for European and American values, not an ambitious person who seeks profit from this, so deep down he has no motivation to do evil and reap profits.

But the people around me don’t think so. How can a young, suddenly rich, idealistic organization operate a public chain with a market value of hundreds of billions? There is no precedent in human history. Therefore, Vitalik has no way to accept the weird traffic of Meme. The high cost of Ethereum mainnet is not suitable. Only L2 can fight. In fact, Base has indeed taken on the responsibility of EVM ecosystem to resist Solana Meme.

But unfortunately, Base, which is operated by CEX and has no mainnet token, can’t support itself. I don’t know if other L2s are dizzy or VCs are too generous with money. In normal wars, they are basically onlookers, which is quite strange like the Western Front.

But Solana is different. After FTX, Solana is in a state of survival as a whole. Any opportunity that can give it a glimmer of hope should not be missed, whether it is the existing DEX, DePIN, NFT, or the new PayFi and payment. Regarding this matter, I wrote at the end of 23 yearsSolana's second comeback: high performance, marketing and DePIN.

Then there is naturally no reason to reject Meme. The inherent innovation and mechanism of Pump Fun will be unfolded in the duel between CEX and DEX. Here you only need to understand that it is not a combination of PumpFun and Meme, but a combination of Pump Fun and Meme on Solana.

What is important is never the technology, but the fit. For example, the same is true for BNB Chain’s promotion of Four Meme. It has nothing to do with timing, but only with the boss’s interest.

Solana created the first wave of Meme, not PumpFun. The founder's pet and DePIN+ mobile phone concepts, whether refurbished or nostalgic, can be brought out again for a wave, but of course it can only be one wave.

The strongest endogenous version: AI Agent Meme

But God blesses Toly, God prefers Solana, and Buddha blesses Jump. The concept of AI Agent has suddenly become popular in the cryptocurrency circle. What's more interesting is that Agent, which focuses on tool rationality and assistant features, has chosen Meme as its habitat. Is this rational?

In the final analysis, Meme, which has no value but has a price, is too suitable for Agent, which has no rationality but only hype. So far, traditional Agent is still in the laboratory stage and has not been widely popularized. This is even more true for Web3 AI Agent, which is modified on the basis of open source products. Otherwise, DeFAI should have been put into production long ago instead of staying at the stage of PPT deceiving VC.

For AI Agent, please refer to:

AI is Crypto's agent - the evolution of AI Agent

Ai16z is the best representative work of this stage, which has grasped the essence of Meme. It has both the high speculation of Web3 and the endorsement of Big Name of Web2. Let's take a look at DeepSeek R1 at home. That is engineering innovation, AI Agent is not, and Grok3 is not suitable.

In the name of time, Trump returned, and in the name of innovation, Ma Dugong took office, and came to the final stage of Meme, the ultimate evolution of celebrity currency - presidential currency.

Variation, AI Agent to the pinnacle of Presidential Coin

How do you evaluate Presidential Coin?

In a nutshell:It is a multiplier for the poor and the young Ps, and a plaything for the rich and the coin issuing groups.

It doesn’t matter whether the Solana coin issuing group is deeply involved in the $TRUMP and Mile coin issuing. The Solana DeFi ecosystem is a classic that magnifies gambling to the extreme. It is more difficult than another stand-alone Hyperliquid. Hyperliquid’s opponent is the aging dYdX, and Solana’s opponent is the entire Ethereum ecosystem.

It can be said that Solana DeFi does not have the ability to manipulate all presidential coins, but the Solana DeFi spirit with Jupiter as the core definitely exists, at least objectively, and subjectively I don’t know or comment.

$TRUMP has not changed Crypto, and Solana’s long-term and short-term routes are openly conspiring.

This is the last chapter of Meme’s months of carnival. From DeepSeek to reciprocal tariffs, Web3 will not endThe article mentioned that the significance of DeepSeek is to interrupt the "American-led AI narrative", and the AI ​​Agent in the currency circle has been shut down, and the liquidity of Meme has also been shut down, because the AI ​​Agent Meme narrative has also lost its own technical foundation.

After DeepSeek, both Google Gemini and Musk Grok3 have emphasized Chain of Thought (CoT) rather than the Agent promoted by OpenAI. This does not mean that CoT is superior to Agent. The two are not concepts of the same dimension at all. The former is an algorithm and the latter is a product form. It’s just that the market’s focus on AI has changed.

The clock began to swing back, and life began to go backwards. If you still insist on being optimistic about Meme, you can find many evidences such as CZ’s attention, but one thing is certain, Meme as a way of asset issuance is no longer friendly to ordinary people. Any asset issuance method, including Binance’s vote for PI retro, is tasked with innovating the deep-rooted problems at its birth, but they have no exception and have all changed.

What is really worth learning is Solana's way of survival and growth, seizing every opportunity to create short-term liquidity, and continuously innovating. In the long run, it does PayFi, payment, stablecoins and other difficult but highly profitable things, and does not become mediocre, but Solana is also a plaything owned by a larger currency issuing group.

Conclusion

You can also see the sea when you come from Dandong. Although the Strait of Singapore is rich, the sea breeze in Hong Kong is more historically heavy. It is also a good choice for Meme to end his hurricane here. The young lady of Shang K and the young man in the currency circle all need to go ashore.

Please note that Meme as an asset type will not die. Even NFT has found its place in the currency circle through equity NFT, but OpenSea will disappear.

That's it, in memory of the Meme SuperCycle that gave us happiness. If CZ All in Meme, then write another Make Meme Great Again. It's a pity that Europe will not be great again, and Luce will not be either.

Only see the new people laugh, not the old people cry.