Meme is the happiest Ponzi scheme, and no one wants a happy ending
author:Crypto, Distilled
Compiled by: Xiaobai Navigation coderworld
Meme is the fastest in the worldPonzi scheme.Whether you prefer Dogecoin or Catcoin (or neither), it’s hard to deny.
However, after experiencing $WIF and $PEPE After a few big winners like this, you might be thinking:
Is the carnival coming to an end, or is it just beginning?
What is a Meme?
The word meme was coined by Richard Dawkins in his 1976 book The Selfish Gene.
It comes from the Greek word "mimema", which means "imitation".
A meme is an idea, behavior, or style that spreads through a culture through imitation.
ideas, behaviors, styles, or usages that spread from one person to another in a culture
Meme Virality:
From politics and sports to entertainment and finance, memes are going viral.
Due to the speculative nature of altcoins, they arecryptocurrencyThe synergistic effect is very strong.
The core of Meme:
Meme has always beencryptocurrencyAn integral part of the lover's blood.
它们塑造了整个cryptocurrency空间的文化。
From "WAGMI" and "Wen Lambo" to "Choose Rich" and "In it for the tech"…
Meme is the core of Crypto Twitter (CT).
Speed up point:
Despite its deep historical roots, 2021 marks a turning point.
COVID-19, $GME and massive money printing created the perfect storm for meme mania.
From joke to giant:
Fast forward to 2024, and Memecoin continues to explode.
For the first time, meme coins have become the most popular category of cryptocurrency.
Meme @CoinMarketCap The site received approximately 231,000 page views, exceeding 25 million in June alone.
fastestPonzi scheme:
Ironically, at a time when the market was expected to mature, memes flourished.
We have $BTC ETF and new technology, but investors still choose the dark side.
As GCR puts it, “It’s a long-term bet on human desperation, greed, and depravity.”
@GCRClassic: "For ordinary people, flying to Macau or Las Vegas is often too expensive. When there is a lot of spare money and the macro risk is high, decentralized casinos and decentralized Ponzi schemes are always the fastest choice. I am long-term bullish on human beings' desperation, greed, depravity, loneliness and being trapped in the metaverse."
From Joke to Fortune:
The top memes not only dominate attention, but also dominate revenue.
Meme coin is the sector with the highest return, having gained 72% so far this year (weighted average by sector).
(Acknowledgements @artemis__xyz)
Leading Ecosystem:
Most of the leading meme coins are $SOL or $ETH superior.
However, in this cycle, the $SOL ecosystem has received more attention than $ETH.
Thinking leadership:
Since October 2023, $SOL and its Meme Coin ecosystem have been gaining momentum.
Although $SOL has not yet surpassed $ETH in terms of market value, it is already on par with $ETH in terms of Google search interest.
"Casino" chain:
In the $SOL ecosystem, Meme coins symbolize the crazy pursuit of speculative assets.
The influx of huge liquidity has given $SOL a casino-like atmosphere.
Participants appear to favor riskier assets over more traditional, slower-moving projects. (Acknowledgements @CoinMarketCap)
What drives the meme craze?
Retail investors value quick returns more than venture-backed projects with high fully diluted valuations (FDVs).
Market participants are fatigued due to high project saturation (many projects have high FDV).
The low rate of mainstream adoption and the lack of breakthrough consumer applications have exacerbatedXiaobai NavigationThis phenomenon.
Meme Coin Black Hole:
According to data from CoinMarketCap, new meme coins are gathering momentum faster than in any previous cycle.
Even though AI Many popular items in the category are also "Meme-ized" AI Token.
Memes are like a black hole that is swallowing up all those who are “in it for the sake of technology.”
Dog vs. Cat:
An interesting phenomenon in Memecoin is the competition between Dogecoin and Catcoin.
Catcoin has outperformed so far this year, but Dogecoin still has a higher market cap.
Yes, this is the current state of cryptocurrency.
(Acknowledgements @MessariCrypto)
Profiting from Memes:
While many people think of Meme as just a lottery, the field is actually more complex.
Those who excel at spotting cultural trends early on are likely to succeed.
However, without strong trading skills or a solid social network, your odds are slim.
potential risks:
Profiting from Meme Coin relies on the extremely risky “dumber theory”.
Investing enthusiasm can come and go quickly.
For example: the “1000 trillionaire” phenomenon.
Final Thoughts:
While the currencies may change, the lure of getting rich quick never goes away.
Whether you choose to participate in gambling or not, the casino will always continue to operate.
Even if you don't like memes, it's helpful to understand why they are successful.
The article comes from the Internet:Meme is the happiest Ponzi scheme, and no one wants a happy ending
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