GM. Wagmi.
No. I am not greeting you. These are legit names of some meme coins with last 24 trading volume of $120K.
Not enough?
“I’m gonna ape into this new pornrocket as I YOLO my savings!”
You just read a completely logical financial statement made by your crypto bro next door. Yes. Rub your eyes, read it again and feel sad about your 9-5 life.
In the world of cryptocurrency, where the serious and the speculative collide, memecoins have carved out a niche that’s both absurd and lucrative. Originally dismissed as mere jokes, these digital assets have evolved into a cultural phenomenon, attracting attention from the wealthiest corners of the globe.
Gosh! Can’t believe I have to write all this for a living.
It’s All Fun and Games Until Someone Makes a Billion
Who are these people? Where do they come from? Who wakes up thinking that they should come up with a memecoin this morning?
Well, it’s very different from what you think.
At the heart of the memecoin mania is a indigestible truth : ‘It’s not about the money; it’s about the fun’.
The crypto landscape is often painted as a battleground of financial strategies and technological advancements, but memecoins disrupt this narrative by focusing on the lighter side of crypto.
This is where the OG money YOLOers, the HNIs come into picture. Yes believe it or not, Token 2049 this year was filled with billionaires seeking refuge in meme-ing the *beep* out of cryptopia. I know your meme game is solid, but definitely not driving a Bugatti solid.
Memes as the Internet’s DNA:
But why?
On one side we have banks trying to adopt blockchain to transform the financial world that we know of. On the other side, a bunch of dorm room teens are making a mockery out of the entire space.
What the fish just happened? Well, it has to do with fact that Crypto is an internet native technology.
Memes are more than just entertainment; they are a fundamental mode of communication across the internet. They encapsulate emotions, reactions, and commentary on current events, making them integral to digital culture.
Cryptocurrency, like memes, is a product of the internet era. It was conceived and developed in the digital realm, making it a native technology to the online world. This shared digital origin aligns crypto closely with the operational and cultural dynamics of the internet.
The overlap between memes and crypto is not just coincidental but inevitable. Both are disruptive forces in their respective fields—memes in communication and crypto in finance. Their convergence into memecoins is a natural progression of internet culture impacting economic models.
I know your skeptic ass is still not buying it. Here are a few more parallels:
1. The Virality
Memes can go viral overnight, and so can memecoins. This virality is a powerful market force, capable of rapidly increasing a memecoin’s value based on community engagement and social media trends.
Despite their origins as internet jokes, some memecoins have reached market capitalizations in billions. This meteoric rise is a testament to their viral nature and the community-driven hype that can inflate their value overnight.
2. Let the Hate Flow:
The traditional financial sector often views memecoins skeptically, dismissing them as trivial or unstable. However, this skepticism underestimates the influence and potential of digital trends powered by a tech-savvy generation.
And the more you hate it, the bigger it becomes. As I write this article, below is the market cap of some of the famous memecoins.
Dogecoin: $23B (~50% of Solana)
Shiba Inu: $16B
Pepe: $3B
Yes. That’s billion with ‘b’.
3. Empowerment of the Community:
The rise of memecoins empowers the online community, giving individuals the ability to influence and benefit from market dynamics that is traditionally dominated by financial institutions. This democratization of finance mirrors the participatory nature of meme culture.
Memes can have a similar impact on the communal harmony. I have so many friends that have remained my friends just because we exchange memes. We don’t meet. We don’t talk. Just endless supply of memes. Am I proud? May be not. Am I happy? Hell yeah! (jk, sed lyf pro max!)
4. The Joke’s on the Skeptics:
While critics continue to dismiss the seriousness of memecoins, the community around these tokens often thrives, proving that even investments rooted in humor can lead to serious returns, challenging the conventional investment wisdom.
Embracing memecoins is part of adapting to the digital age, where traditional boundaries between humor, culture, and finance are increasingly blurred. This adaptation is crucial for staying relevant in a rapidly evolving digital economy.
The Memeing of Money:
Are you struggling with money? Well, I could not care less.
All I want to tell you is that memecoins stand out as a reminder that sometimes, the value of money lies in the joy it can bring.
They are a testament to the playful side of finance, where billionaires can be degens and investment can be a meme. In this new era, where digital assets meet digital humor, memecoins are not just a fleeting trend but a fascinating intersection of culture, technology, and finance.
And what should be your next steps? First of all, stop taking my word for everything. Get out of bed and figure your shit.
As we look to the future, the message is clear: don’t fade memecoins. They are more than just digital curiosities; they are a dynamic and influential asset class that captures the imagination and wallets of the crypto elite. In the meme economy, everyone—from construction tycoons to tech moguls—is just a meme away from their next million.
