With Paradigm Innovation Continuing, Reveal the Trending MEMEs in this Bull Market

2024-06-05, 03:31

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![](https://gimg2.gateimg.com/image/article/1717558069sdfx.jpeg)
##  [TL；DR]
As of the writing date, the total market cap of tokens in the MEME sector reached $63.8B, accounting for 2.4% of the total crypto market cap. Among the top 10 MEME sectors, 7 were born in this bull market.

The MEME sector has shown many innovative highlights in various aspects, and is no longer a hype product that fills the mainstream narrative gap under pure emotional overflow in the past bull market.

In this bull market, the MEME sector has shown characteristics such as de-VCization, diversified mechanism and gameplay, constantly upgrading narrative themes, and exemption from censorship.

## Introduction
We have written several articles discussing the MEME craze and proposed that MEME has seen some new paradigm innovations in this bull market, making MEME no longer purely air currency speculation as it used to be. Starting from the concept and cultural background of MEME, this article will combine specific cases to deeply analyze the innovative highlights of MEME in this bull market, look forward to its future prospects, and reveal potential risks.
 
## Will Memecoin Bring Crypto into Zootopia?
The MEME concept originated from the ancient Greek word "mimeme," was put forward by British scientist Richard Dawkins in his book "Selfish Gene." It quickly took root in Internet culture and became a unit of cultural inheritance.

In the Internet era, MEME culture has gained unprecedented development. From simple text, pictures to video, GIF and other forms, MEME has won the favor of netizens for its interest, creativity and dissemination.

In this bull market, the convergence of MEME coin and crypto community driven forces has unleashed unprecedented innovative vitality. The emerging crypto buzzwords such as "fair launch," "non takeover," "in_script_ions," "runes," "celebrity coins," and "cats" are all closely related to MEME. These buzzwords have improved both quality and quantity in marketing communication, utility empowerment, and mechanism innovation compared to previous bull markets, making them the sector with the strongest sustained market heat.

As a result, we are pleased to discover the emergence of more interesting brand images and currencies characterized by viral marketing, such as dogwifhat (WIF), Cat in a dog wool (MEW), MAGA (RUMP), Book of MEME (BOME), etc. These popular cat, dog, or character-themed MEMEs have quickly become popular on social media and have become the most popular and unique investment varieties.
![](https://gimg2.gateimg.com/image/article/17175581571.jpeg)
Source: Gate.io

As of the writing date, the total market value of tokens in the MEME sector reached $63.8B, accounting for 2.4% of the total crypto market value. Seven of the top 10 MEME were born in this bull market, and the old brand FLOKI has also gained more market value by continuously empowering innovation.
 
## Highlight Discussion: Does MEME Also Have Paradigm Innovation?
Upon closer examination, the MEME sector in this bull market has shown many innovative highlights in various aspects. It is no longer a hype product that filled the mainstream narrative gap under pure emotional overflow in the past bull market, but has become a brand new independent narrative sector.
 
### Community-Driven and De-VCization:
The theme of this bull market revolves around community-driven and de-VCization, with "non takeover" becoming an important feature of the new bull market.

The super bull market of community-driven tokens has been particularly evident this year, reflecting the awakening of community power in the crypto market.

The most typical token is PEPE, which was initially driven by the Pepe Frog fan community and then recommended by KOLs such as Musk. After quickly gaining popularity, it became the third largest MEME in market value after Doge and Shiba, with nearly 240,000 coin holders.

### Comprehensive and Three-dimensional Communication:
MEME's social attributes are a key factor to its success. MEME can quickly attract the attention and participation of a large number of users through the dissemination of social media and social networks, thereby driving up the price of coins.

For example, the market value of the in_script_ion token RATS is second only to ORDI and SATS, and the marketing contribution of the community's frequent output and dissemination on Twitter in February and March this year is indispensable.
![](https://gimg2.gateimg.com/image/article/17175581942.jpeg)
Source: @Bitrats_org
 
### Diversified Mechanism Gameplay:
MEME's diversity is reflected in its forms of expression and gameplay mechanisms, and these interesting innovative features have become its unique selling points.

The gameplay mechanism of MEME continues to innovate, including @Darkfarms pioneering the fair practice of directly sending SOL to designated addresses for pre-sale and not retaining fundraising but fully joining the LP pool, which has ignited BOME. @Slerfsol then destroyed LP and airdropped reserved tokens on this basis, pushing SLERF to the hottest trend of self-financing MEME, and so on. These innovative gameplay methods have provided more possibilities for the development of MEME as a "fair launch."
![](https://gimg2.gateimg.com/image/article/17175582213.jpeg)
Source: @justinsuntron
 
Meanwhile, MEME’s diversity is also reflected in its application areas, such as Trump's eponymous token MAGA (Trump), which donated 436.5 ETHs to American veterans and child rescue organizations.

### The Narrative Space is Constantly Upgrading:
The outbreak of MEME is not limited to a single theme of MEME currency but presents a trend of batch and normalization.

In a broad sense, Ordinals became popular with ordinal in_script_ions last year, and in_script_ions on various public chains such as ORDI, ETHS, AVAX, etc. can be considered as MEME in the in_script_ions series. Later, @Darkfarms became popular with a group of direct payment MEME issuance methods.

Recently, there has been a rise in presidential campaign concept coins and celebrity coins in the celebrity series. In the second half of this year, there will be a new presidential election in the United States. MEME tokens such as Maga (TRUMP), Jeo Boden (BODEN), Doland Tremp (TREMP), which are close to the names of former and current US presidents, continue to rise in popularity. Token naming rules have quickly spread from the president to various celebrities. Caitlyn Jenner, a member of the Kardashian family, American rapper IGGY AZALEA, Nigerian rapper Davido, and others have all rushed into the crypto market to issue their own MEME coins, with JENNER and MOTHER being the most well-known.
![](https://gimg2.gateimg.com/image/article/17175582444.jpeg)
Source: @Caitlyn_Jenner
 
MEME's gameplay and strategies are constantly innovating, providing investors with more opportunities to participate. At the same time, MEME's wealth creation effect is particularly significant in this bull market, and the market value of MEME currency is growing rapidly, attracting a large number of investors to pay attention and participate.
 
### Narrative Export Under Regulatory Challenges:
Against the backdrop of strong global regulation, the MEME sector has gained more favor from a wider audience due to its lack of a legal regulatory role and other advantages.
 
## Opportunities and Challenges Under the Shining Moment
From the above, it can be seen that the rise of MEME coins is completely different from the hot trend pattern of MEME in the past bull market cycle. In this cycle, these currencies that integrate entertainment and cultural elements, represented by PEPE, have particularly eye-catching price performance, and the number of highly popular MEME coins is constantly emerging. With its unique market charm and sustained popularity, MEME coins have gradually become the new favorite of investors.

As Andrew Kang, co-founder and partner of Mechanism Capital, said, "The rise of various Meme coins is no longer an indicator of the market's peak, because Meme coins are no longer the last <a href="/ru/price/link-ln" target="_blank" class="blog_inner_link">LINK</a> of a sector. In fact, they are the sectors that new capital allocators trust the most. Meme has already and will continue to lead the market."
![](https://gimg2.gateimg.com/image/article/17175582735.jpeg)
Source: @Rewkang
 
From the current market situation, MEME coins have indeed shown great potential. Its price increase, number of popular coins, and persistent popularity far exceed those of other currencies, successfully attracting the attention of a large number of investors.

It is worth mentioning that with the in-depth popularization of social media and the Internet, the influence of MEME culture in the world continues to expand, which provides solid support for the vigorous development of MEME coins.

Of course, despite MEME coins' enormous investment potential and market prospects, investors still need to maintain a cautious attitude and fully recognize the risks and challenges involved.

Firstly, due to the much greater volatility of the MEME coin market compared to other sectors and the greater impact of market sentiment, investors need to have a certain level of risk tolerance and psychological resilience.

Secondly, as the value of MEME coins largely depends on the innovative vitality and community user engagement, stagnant community development or weakened project innovation may lead to the loss of attractiveness and price decline of MEME coins.

In addition, the threshold for creating tokens in the MEME sector is extremely low, and there are still many MEME new coins aimed at harvesting.

In short, MEME coins, as a new force in the crypto field, have rapidly emerged as the market focus due to their unique charm and viral transmission methods. However, investors still need to maintain a cautious attitude and fully recognize the risks and challenges when choosing MEME coins. They should fully understand various factors such as project background, team strength, community activity, and market trends for comprehensive evaluation.

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<div>Author:**Carl Y.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>