How are you all? I hope you are well. I am also well. I have been watching the crypto market for a few days now. I was especially wondering how meme coins are growing so fast. From this thought, I have done some studies, observations and tried to understand it in my own way. Today's article is from that experience.
In the last few years, meme coins have created a completely different place in the crypto world. Where before people used to talk only about coins like #Bitcoin or #Ethereum, now there are coins named after dogs, cats, frogs and even squirrels. The interesting thing is that these coins often reach a market cap of one billion dollars in a very short time.
The most surprising example is a meme coin called #PNUT. It reached a market value of one billion dollars in just 11 days. Behind it was a real-life story, a discussion on social media and a listing on major exchanges. After that, coins like #PEPE, #BRETT, #WIF, and #POPCAT also became popular very quickly. Some took 19 days, some took months, and some took a little over a year.
I have noticed that there are several factors that repeatedly work behind the success of these meme coins. First, the power of social media. When a discussion starts on Twitter, Reddit, or Telegram, interest is created in an instant. Second, listing on a major exchange. When a coin comes to a platform like Binance or Coinbase, the general investor's attention is drawn there. Third, a story or emotion. Be it #DOGE or #SHIB, or any new coin—there is a story behind almost everything.
But it is also true that meme coins mean risk. What is in the sky today may fall to the ground tomorrow. There is often not much technical advantage or solid foundation here. The main driving force is human interest and trust. So if someone wants to invest in it, understanding is more necessary than emotion.
All in all, animal-themed meme coins have shown that not only technology, but also human feelings and online culture can move the market. I don't know if this trend will continue in the future, but this current time is worth remembering quite separately in crypto history.
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Posted Using INLEO