The Meme track has entered a “super cycle”. Do ordinary people still have a chance?

Recently, MemeCoin is entering a "super cycle" narrative. On October 12, 2024, the search volume for "MemeCoin" on Google was 77/100, far exceeding the search volume for "Bitcoin" (BTC) at 33/100. Although the current crypto market has been in a long-term downturn due to the overall environment, the popularity of Meme in the entire market has not diminished and there is no sign of slowing down.

MemeCoin, as the name suggests, is a crypto asset based on a meme or a popular joke. While the idea behind these crypto projects may be derived from a joke, the current status of these assets is not a joke. According to Coingecko data, the current size of the entire MemeCoin market is $53 billion, accounting for about 2.3% of the entire crypto market value. Solana launched Pump.fun in January 2024, and has created about 2.3 million MemeCoins so far. Other public chains are also competing to launch MemCoin launchers, making MemeCoin the hottest track in this bull market.

So,what are the MemeCoins that were popular before? For novices, is there still a chance for MemeCoin? How can you make money from Meme?We invited several MemeCoin players in the Vernacular Blockchain community to discuss these issues. Sharing guests include:

Dashuo(@ruyan768, HashGlobal technical consultant, CreatorDAO founder)
daybyday(MemeCoin actual player in the vernacular community)
Qian Bencong(@faster100x, MemeCoin actual player in the vernacular community)
uuluckyl(MemeCoin actual player in the vernacular community)

Note: The ranking is in no particular order, sorted by a-z.

1. Which public chains are MemeCoin popular on at present? How is the MemeCoin situation on the top public chains such as Ethereum, Solana, Base, etc.?

Dashuo:The more popular ones are Ethereum, Solana, and Base. Because of Pump.fun, the issuance and trading of Meme on Solana are the most active. But Ethereum still has a very strong value siphoning effect. Initially, Neiro was very popular on Solana, but it was eventually more successful on Ethereum. Base cannot be ignored in the middle and late stages of the bull market due to the support of Tokens on Coinbase.
daybyday: Currently, MemeCoin is mainly concentrated on Solana and Ethereum.
Meme on the Ethereum chain is much more sustainable than Solana. If it is a good theme, even if the current price is adjusted, it can still rise in the future, and most projects will not be directly cold.
But Solana is relatively speaking, it is a wave flow, and it will keep pulling up if it can go up. As long as there is a downward trend, it is likely to become a Christmas tree directly. PvP (Player vs Player, player-to-player game) is too serious, and if you run slowly, you will be trapped directly. Because of the existence of Pump, Solana is extremely sensitive to market hot spots. New projects are launched at a very fast speed and the pace is also very fast. Most projects cannot last more than three days. Most projects on Solana are bought by smart wallets (influential KOLs who shout orders), and then other smart wallets follow up. After the price rises, it attracts retail investors to FOMO, and then there is nothing else. Solana tends to be animal-type, while Ethereum tends to be political-type.
Base chain currently has low meme sentiment. Let's see how Degen performs after it is listed on Coinbase. If it performs well, it may bring up the Meme sentiment of Base chain. At present, it is mainly hyped around the shouting of Jesse, the head of Base.
TRON was popular for a few weeks because of the emergence of Pump some time ago.
BSC chain cannot get hot because of the serious clamp and the lack of official support.
Recently, Sui chain also has Meme hype, but I have not paid attention to it and don't know much about it.

Qian Bencong:Currently, the MemeCoin market on Solana and Ethereum continues to be hot, and the market has improved a lot compared to September. Other public chains such as Sui and TRON (TRX) also occasionally have short-term wealth opportunities, and high-quality projects emerge from time to time on the Base chain.  Solana There are significant differences in the development style of MemeCoin on Ethereum:
Solana: MemeCoin on Solana is particularly biased towards animal IP projects. For example, Hippo was the first to become popular on Solana.The pace of projects on Solana is very fast. It is common for prices to rise rapidly to a high market value and then fall sharply. The PVP phenomenon in the market is relatively fierce, which makes it easy to be trapped if you are not careful. From my observation and experience of smart money, it is significantly more difficult to make money on Solana than on Ethereum, and wallets with stable profits are relatively rare.
Ethereum: It is easier to promote some political or celebrity IP projects to stand out on the Ethereum chain, and animal projects are still strong. For example, TERMINUS and Neiro, the concepts of Musk, are representative projects that have caused a craze on Ethereum.
On the whole, the MemeCoin style on the Ethereum chain is relatively stable, while Solana is more short-term explosive, but the risks and games are also higher accordingly.

uuluckyl: Currently, it is mainly a competition between Solana and Ethereum for traffic. The second is the copying of Meme gameplay on Base, Sui and other chains. BSC has disappeared, and the pump model pioneered by Solana has brought new popularity and income to the public chain, coupled with the resistance of retail investors to VC Token.

2. How is the development of the MemeCoin that brought the Solana craze?

Dashuo:The new and old memes on Solana are still performing strongly, such as WIF, GIGA, POPCAT, etc.
daybyday:The chain is in a state of speculation on new things but not on old things. Listing on BN is equivalent to having an extra life-saving card. Most of those that cannot be listed are short-lived, and very few survive.
Qian Bencong:The market sentiment of the wave of MemeCoin that led the Solana craze has now declined significantly. The MemeCoin market is more like a "scumbag market". Many projects that were once popular, such as BOME, are now rarely in demand, or have completely degenerated into a game of secondary market. At present, the new craze is being led by projects such as Neiro and MOODENG, and the market trend is gradually shifting.
uuluckyl:The first batch of MemeCoins on Solana are naturally not very popular now. The chips are being distributed one after another. For example, BOME, W, WTF, ANALOS, BONK, to put it bluntly, some are air projects of professional market making teams.

3. What are the characteristics of the recent MemeCoin market? What do you think about the future development prospects?

Dashuo:The current Meme market is dominated by Internet celebrity cute pets and Internet celebrity vocabulary. Memes with strong community support have the greatest potential in the future due to their cultural identity and sense of belonging.
daybyday:Recently, due to the popularity of Neiro and MOODENG, various animal IPs on the chain have been killed like crazy. Many people have become experts and dug out all the pet information raised by Neiro's owner and various relatives of MOODENG for hype. Currently, as long as a meme becomes popular on the chain, uppercase and lowercase will appear immediately, and there will be multiple, each chain will appear, but no one will take over each other, resulting in serious PvP. Even if a hot spot appears, it is difficult to grasp which one will really come out, there are too many uncertain factors, just like Neiro, BN first launched uppercase contracts and then lowercase spot, MOODENG, Solana chain was originally in an absolute advantage, recently because of Vitalik's selling of tokens, the Ethereum chain was about to die, but it has risen again. Overall, MemeCoin is quite difficult to play.

Because most of the new BNs are institutional tokens, they peaked as soon as they were launched, and there was no money-making effect, which led to the shift to MemeCoin.But now, MemeCoin has also begun to be promoted by "institutions", and the efforts in this regard should be increased in the future. I personally think that as long as the wealth effect exists, it will always exist. After all, in this industry, everything can be speculated if it is related to the Meme theme.
Qian Bencong:The recent characteristics of the MemeCoin market and future expectations:
High volatility and explosiveness: The MemeCoin market is still highly dependent on the behavior guidance of the encryption community, KOLs and bigwigs, and there are often sharp rises and falls in the short term.For example, Vitalik recently sold MOODENG for charity, which directly triggered a several-fold increase. Such events show the market's sensitivity to the movements of bigwigs.
The information-driven effect is significant: In the MemeCoin market, information advantage is crucial. Whether you can seize the opportunities brought by high volatility often depends on timely follow-up of on-chain transactions, banker behavior, KOLs (especially conspiracy groups) and the dynamics of bigwigs in the circle. This determines whether you can eat meat and drink soup, or passively take over. How to establish and maintain your own information advantage will become the core competitiveness of future participants.
Increased requirements for retail investors: The complexity of the current MemeCoin market has increased the difficulty of retail investors' operations. A hot spot often appears on Solana and Ethereum at the same time, and even multiple related coins with different uppercase and lowercase combinations will appear. Usually, a hot spot will derive more than 4 coins. How to accurately select Memecoin has become another difficult problem faced by retail investors after capturing hot spots.
Future expectations: As market competition intensifies, the importance of information capture and data analysis capabilities will continue to increase. Traders who can quickly obtain, analyze and interpret market information will have a significant advantage, while retail investors who cannot effectively screen information and projects may face greater operational challenges.

uuluckyl:The characteristics of Meme are as follows: Emotion + theme IP + market funds, and celebrity effect.
MemeCoin has no value, only short-term interests, the game of niche financial markets in the new era, and no physical support. Of course, it also highlights the fair mechanism of blockchain and more transparent rules on the chain.
In the future, MemeCoin will derive more complete mechanisms and gameplay, and will be more inclined to cooperate with trendy IPs in real life, as well as some Internet celebrity animals and Internet celebrity pets, celebrity publicity, etc.

4. What experience do you have in playing MemeCoin?

Dashuo:Most players are not suitable for PvP new listings, but should buy Memes that have been recognized by the market.
daybyday:The essence of price fluctuations is buying and selling. The Meme track is very dependent on traffic. Only continuous exposure and influential KOLs can bring buying orders and prices will rise. If there is no traffic, it is easy to die. After all, new projects are generated every day, and who will pay attention to the old ones.
The entire track requires high sensitivity to information. It is best to join some communities to obtain timely hot information, because if you are a few minutes late, your cost will be completely different from that of others. In addition, pay attention to KOLs with "traffic" on X (original Twitter). Sometimes a KOL's holdings can reverse the trend of a Meme. Observe more, accumulate more, slowly understand the characteristics of each person, and track their wallet dynamics. After making money, you must stop profit in batches. No one can sell at a high position. Only with funds in hand will you not fall into a passive position. There are many opportunities in this industry, so never stick to one project.
Qian Bencong:Combined with the characteristics of the market, we need to establish a set of operating strategies that suit us. The path I chose was to invest in new hot spots, and I established a sufficient leading position in the market through information advantages. Here are some of my experiences:
Smart money monitoring: It is crucial to establish your own smart money monitoring library. There are many categories of smart money, which are good at sniping, long-term holding, investing in new stocks, chasing hot spots, and even diamond hands (firm holders). Find smart money that suits your style and let them help you find opportunities. Digging out and tracking the trading behavior of these accounts can greatly improve your advantage in the market.
Twitter monitoring: Keep a close eye on well-known figures, especially big guys like Vitalik, Musk, Trump, BillyM2k (co-founder of Dogecoin), CZ (Changpeng Zhao), etc. Their tweets often drive the hot market in the Meme market. It is recommended that everyone at least turn on the small bell on Twitter to get the dynamics of these important people in the first time.
Conspiracy monitoring: Compared with retail-dominated MemeCoin, tokens promoted by so-called "conspiracy groups" are more likely to have explosive gains and high market capitalizations. Knowing who is a member of these groups and establishing a monitoring system for the tokens they pay attention to can help you discover potential opportunities faster. Keeping a close eye on their dynamics is usually an effective way to capture market hotspots.
KOL monitoring: The role of KOLs in the early stages of the MemeCoin project cannot be ignored. A few influential KOLs are enough to quickly push up the market value of a MemeCoin. It is recommended that you establish a monitoring list of high-value KOLs so that you can quickly participate in the early stages of shouting orders.
Finally, based on these monitoring, you can develop your own strategies. For example, when multiple smart money accounts buy at the same time, or when more than a certain number of KOLs begin to promote a project, you can pay attention or participate. In addition, there are some related tools on the market that you can explore and use to improve trading efficiency.

uuluckyl：The core of MemeCoin at this stage is traffic. Compared with ordinary PvP, paying attention to celebrity comments is outdated. Spend time capturing hot IP cute pets and real-world hot spots. Choose a target with stable trading volume, a market value of about 1 million, and sustainable hype in the short term, and it will be easier to make money. After all, buying various Memes is too distracting and time to rest. Only choose the hottest IP at each stage, which will be much easier and the income will be considerable.
But you must pay attention to the MemeCoin scam of the same name and various risk coins with no lock-up and unclean contracts. Try to invest only a small amount of money, treat it as a lottery, relax your mind, and never gamble.

5. What are the money-making opportunities or effects in the current MemeCoin market? Do ordinary people still have opportunities in the Meme field?

Dashuo:This round of bull market is the supercycle of Meme, and opportunities are everywhere. Meme is originally a bull market for ordinary people.
daybyday:There are always opportunities to make money, but they cannot be predicted. Most of them are random. For most people, it is still difficult to make money in the Meme track. The bigger direction is to pay attention to the movements of people like Musk, Trump, and Vitalik. Themes with great significance are easy to hype up.
The entire industry is becoming more and more elite. The hype of Meme on the chain requires staying up late to watch the market, the data on the chain, and the trends of KOLs on Twitter. It usually takes a lot of time and energy, and even requires the cooperation of multiple people. When you receive a Meme message, you have to be able to get the point of his hype in a short time. For ordinary people, it is already a bit inappropriate. It is better to combine your own expertise and find the direction you are interested in. Some people are interested in playing with fur, and some people are suitable for buying and holding. Interest is the best teacher. People who are really interested will dig deep into it themselves. Qian Bencong: I think MemeCoin is one of the areas where ordinary people can easily seize the opportunity to make money. The key is to pay more attention to the Ethereum ecosystem and establish your own information advantage. For the Meme community you are interested in, maintaining continuous attention and follow-up can greatly increase the chances of profit. At the same time, the market is full of various hot spots, and it is impossible to seize every token and every opportunity. The most important thing is to be targeted and choose those hot spots that are large enough to bet on, rather than excessively participating in PvP in small-scale hot spots. By choosing and choosing hot spots, ordinary people still have a great chance to realize profits in the MemeCoin field. uuluckyl: Combining the above views, at this stage, MemeCoin is still centered around the hot IP themes spread in real life and Web2 Internet. The core is traffic, and there is heat if there is traffic.
Ordinary people should try not to participate in MemeCoin. The market fluctuates very quickly. It may plummet before you have time to sell it in a few hours. You need to keep an eye on the market. If you really want to participate. Make sure you have enough time to observe the market every day. Try to invest only three coins a month, reduce the frequency and amount. Only invest in the hottest IPs, including Solana and Ethereum and other popular chains. Choose one Meme for each chain. This will be much simpler. As the old saying goes, the market is risky, investment needs to be cautious, do not be impulsive, and do not let emotions affect decision-making.