MEME Rebounds First, Analyze the Opportunities and Risks of the Market's New Favorite

2024-08-14, 06:31

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![](https://gimg2.gateimg.com/image/article/17236162301692587449analysis.jpeg)
## [TL；DR]: 
Since the brief market crash last week, MEME Coins have rebounded strongly, with emerging MEMEs such as NEIRO, MUMU, and PEPEI performing particularly well, becoming a key focus for savvy investors.

The MEME sector, as an emerging focus of this bull market, carries cultural connotations of humor, creativity, superstition, and social interaction, and promotes users in the Web2 world to quickly enter the crypto field.

Looking back at the rebound after several market crashes in recent years, MEME coin has always been the star of dazzling gains, demonstrating its high market volatility and strong topicality.

## Introduction
Since the market crash last week, MEME Coins have rebounded rapidly and once again become the leading sector in the "cast-iron" trend. This article will explain the current development prospects of this sector by combining many cases of the new MEME.
 
## Did MEME Rebound First Again?
On August 5, the <a href="/price" target="_blank" class="blog_inner_<a href="/price/link-ln" target="_blank" class="blog_inner_link">link</a>"><a href="/price" target="_blank" class="blog_inner_link">crypto market</a></a> experienced the final blow of a sharp decline known as "Black Monday." <a href="/price/<a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">bitcoin</a>-btc" target="_blank" class="blog_inner_link">Bitcoin</a> plummeted from $58,350 to below $53,000 in just two hours, hitting a low of $49,000, a drop of over 9%. This sharp decline led to the liquidation of over $600 million in leveraged long positions, and <a href="/price/<a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">ethereum</a>-eth" target="_blank" class="blog_inner_link">Ethereum</a> experienced a short-term drop of over 20%, causing the entire crypto market to experience a $510 billion market value evaporation within three days, and market sentiment sharply turned to panic.

As of the writing date, the market has gradually shown positive signs of recovery. In this round of rebound, MEME coin once again became the star of dazzling gains, continuing its characteristics of high-market-volatility and strong topicality.

According to SoSo Value's market data, the MEME sector has risen nearly 5% in 24H, second only to the Layer2 sector, and has surpassed last year's hot rotation sectors, such as AI, DePIN, RWA, becoming the permanent leading sector in this bull market.
 ![](https://gimg2.gateimg.com/image/article/17236168511.jpg)
Source 1: SoSo Value
 
Although the recent Olympic Games did not produce a circle of MEME, the MEME sector became strong enough. In the context of the continuous transformation of market hotspots, there are always various types of MEME that are hyped by the community. From the zoo of dogs, cats, frogs, to Trump, Biden and other American election objects, as well as today's various types of celebrity coins, TON chain MEME game coins (such as Notcoin), etc., have become a simple and easy to understand important entrance for traditional Internet users to enter <a href="/<a href="/web3" target="_blank" class="blog_inner_link">web3</a>" target="_blank" class="blog_inner_link">Web3</a>.

We will now introduce one by one some popular MEMEs that have recently made it onto the list, all of which have spot support on Gate.io.

## Neiro（NEIRO）
Neiro is a MEME coin on the <a href="/price/<a href="/price/solana-sol" target="_blank" class="blog_inner_link">solana</a>-sol" target="_blank" class="blog_inner_link">Solana</a> chain, named after the dog newly adopted by the owner of DOGE (Kabosu). The token with the same name was released in late July.
 ![](https://gimg2.gateimg.com/image/article/17236168902.jpg)
Source 2: neirocoin.xyz
 
The token was initially created on SOL and ETH chains, and over time, the NEIRO on the ETH chain continued to rise strongly after experiencing the rat trading event and Vitalik sell-off, becoming the most closely watched golden dog at present.
 
## FIGHT TO MAGA（FIGHT）
After the shooting incident in his speech in Pennsylvania last month, former US President Trump quickly spread on the internet by shouting three "Fight" slogans. FIGHT is the emerging MEME born from this slogan and has become a symbol of political inspiration.
 ![](https://gimg2.gateimg.com/image/article/17236169123.jpg)
Source 3: @Fight2Maga
 
This token waslaunched in the ETH and Solana ecosystems, but the FIGHT token in the ETH ecosystem stands out in the market selection, maintaining high popularity and relatively firm prices.

However, at the time of writing, the author monitored the end of the XSpaces interview between former US President Trump and Musk on August 13, and due to the lack of mention of crypto-related content, Trump's concept coins, including FIGHT, experienced a short-term general decline.

## Mumu The Bull（MUMU）
The inspiration for Mumu The Bull ($MUMU) is deeply rooted in the popular "Mumu the Bull" network meme, which centers around the bull Mumu, symbolizing <a href="/price/<a href="/price/optimism-op" target="_blank" class="blog_inner_link">optimism</a>-op" target="_blank" class="blog_inner_link">optimism</a> and vitality in the bull market. The meme aims to challenge and lead market sentiment through its brave forward image, especially by fighting against the bear Bobo, who represents bear market sentiment, to restore the bullish momentum of the market and effectively counter bearish trends.
 ![](https://gimg2.gateimg.com/image/article/17236169454.jpg)
Source 4: @mumu_bull
 
The market value of this project has reached $150M, with a 24-hour increase of 30%.
 
## Peng（PENG）
Peng (PENG) is a penguin-themed meme coin released on the Solana chain at the end of 2023, inspired by Pepe the Frog and incorporating penguin elements, aiming to add vitality and liquidity to the Solana ecosystem.
 ![](https://gimg2.gateimg.com/image/article/17236169675.jpg)
Source 5: @pengonsolana
 
This token quickly emerged as a hot topic in the market during the MEME wave of payment and issuance in March this year.

The market cap of the project reached $14M, with a 24-hour increase of 14%.
 
## PeiPei（PEIPEI）
PeiPei (PEIPEI) is a new type of meme token that combines the classic frog Pepe image with Asian cultural elements, especially its red frog design, known as the “China Pepe.”
 ![](https://gimg2.gateimg.com/image/article/17236169956.jpg)
Source 6: @Peipeierc20
 
This project is a tribute to traditional Pepe culture, andan innovative attempt in the field of cryptocurrency, aiming to attract users to participate in the transformation of the crypto industry through its unique cultural phenomenon.

Since its launch, PEIPEI has quickly become popular and performed strongly in the market, with a current market value of $60M.
 
## Ponke（PONKE）
Ponke is another MEME inspired by PEPE, with its mascot being a lively monkey image.
 ![](https://gimg2.gateimg.com/image/article/17236170227.jpg)
Source 7: @ponkesol
 
PONKE has achieved an 11% increase in the past 7 days, with a market value of $200M.
 
## The New MEME is Eye-catching, But the Risks Cannot be Ignored
The MEME sector, as an emerging focus of this bull market, carries subcultural connotations of humor, creativity, superstition, and social interaction, and promotes users in the Web2 world to quickly enter the crypto field.

Entering 2024, many emerging MEMEs are experiencing astonishing gains, and the MEME market is undergoing a wave of reshuffling and restructuring, demonstrating the powerful power of the community. However, it is worth noting that the price of MEME tokens fluctuates violently, with sudden rises, falls, and even zero becoming the norm.

According to data from Dune Analytics, only about 1.41% of the cryptocurrencies launched on the SOL chain MEME launch platform pump.fun have successfully logged into the Raydium decentralized financial platform of the Solana ecosystem for trading, while in reality, only 0.002% of the tokens (41) have a market value of over $1M. This ratio has remained relatively stable in the past few months, fluctuating between 1.21% and 1.41%, with the highest record for the year occurring on February 16, at only 2.56%.
 ![](https://gimg2.gateimg.com/image/article/17236170528.jpg)
Source 8: @newtoneinsteinx
 
In the past months, many popular new MEMEs have experienced setbacks or even disappeared after the Token Generation Event (TGE). For example, in June, a MEME called Water Coin (WATER) raised over $41M during its pre-sale phase and was later launched at a valuation of $500M. Another BorpaToken (BORPA) pre-sale raised $55M, but since its launch, it has dropped by 95% and 80% respectively.

In short, various new MEMEs have shown strong bullish trends in data and market operations, but the manipulation methods and potential risks behind them cannot be ignored. The various risk events they have experienced have also made them far less secure than those well-established MEMEs. Therefore, investors should carefully analyze and act within their capabilities during the participation process.

<div class="blog-details-info">
<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>

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