The Past and Present of MeMe Coin: From Internet Joke to Financial Phenomenon

Preface

Imagine if your favorite internet meme suddenly became a tradable digital currency, doesn’t it feel both absurd and interesting? These seemingly joking products can sometimes soar to a market value of billions of dollars, leaving many people baffled. The value of these digital assets is largely driven by jokes on the internet, social media popularity, and consensus within online communities. Sounds like a grand joke?

But this is MeMe币, a peculiar phenomenon born from internet humor that can create waves in the financial market. These seemingly unserious digital assets are attracting a significant amount of funds and attention at an astonishing speed. This article will take you on a deep dive into the origins of MeMe币 and their possible future development directions.

The Origin of MeMe Coin: Started with "Doge"

MeMe coin, as the name suggests, is a cryptocurrency inspired by internet memes. Their emergence is often filled with mockery and entertainment, which fundamentally distinguishes them from traditional cryptocurrencies that claim to offer disruptive technology or solve real-world problems. The unique charm of MeMe coin lies in its "unserious" nature, and their value often derives from community consensus and the viral spread on social media.

Dogecoin ( is undoubtedly the pioneer of MeMe coins. This cryptocurrency, created at the end of 2013 by software engineers Billy Markus and Jackson Palmer, started as a joke. It was inspired by the popular "Doge" meme at the time. Unexpectedly, this joke project quickly went viral, gaining remarkable attention and users in just a few weeks.

In its early days, Dogecoin was primarily used for "tipping" on social media platforms, where users could reward content creators for interesting or valuable contributions with small amounts of Dogecoin. This lighthearted atmosphere attracted a loyal following, forming a vibrant community. The Dogecoin community also demonstrated a spirit of charity, having raised funds for the Jamaican bobsled team to participate in the Winter Olympics and donated to clean water projects in Kenya.

In 2021, Elon Musk mentioned DOGE multiple times on social media, propelling it into a global craze, with its price skyrocketing by over 8000% at one point, and its market capitalization exceeding $88 billion. This initial joke project surprisingly accumulated significant market value and influence over the following years, laying the groundwork for the emergence of numerous MeMe coins.

![From cute pet image to presidential IP, understand the past and present of MEME coin in one article])https://img-cdn.gateio.im/webp-social/moments-2d8cfb98579447d401984b0a1a60e025.webp(

The Wild Evolution History of MeMe Coin

After the unexpected success of Dogecoin, a variety of MeMe coins have sprung up like mushrooms after rain. The most notable include:

• Shiba Inu Coin ) Shiba Inu, SHIB (: Often referred to as the "Dogecoin killer", launched in August 2020.
• Bonk coin)BONK(: The first dog-themed MeMe coin on the Solana chain, launched at the end of 2022.
• Pepe Coin ) Pepe, PEPE (: 2023 reignites people's enthusiasm for MeMe Coin, inspired by the "Pepe the Frog" meme.
• dogwifhat)WIF(: Newcomer MeMe coin, the logo features a Shiba Inu wearing a pink knit hat.

In addition to these "established" strong players, the world of MeMe coin is continuously emerging with new participants, drawing inspiration from a more diverse range of sources. Examples include various zoo coins like the cat-themed "Popcat" and "MEW". Political figures are also getting involved in the MeMe coin space, such as Donald Trump's $TRUMP coin and Melania Trump's $Melania coin. Additionally, there are MeMe coins inspired by artificial intelligence, such as Dawgz AI.

![From Cute Pet Image to Presidential IP, Understand the Past and Present of MEME Coin in One Article])https://img-cdn.gateio.im/webp-social/moments-acc54a5b94aded36a766e5433c635e93.webp(

The Operating Mechanism of MeMe Coin

Although MeMe coins may seem like a joke, they still rely on the solid foundation of blockchain technology. Most MeMe coins operate as tokens on existing blockchains, such as Ethereum ) following the ERC-20 standard ( and Solana ) following the SPL token standard (. This allows for faster development and the ability to leverage the existing infrastructure of the blockchain.

The value and popularity of MeMe coin are primarily driven by social and cultural factors, rather than technological innovation or practical applications. When evaluating MeMe coin, it is more crucial to focus on the community power and network heat behind it.

"Tokenomics" is key to understanding how MeMe coin operates, mainly including the token supply, distribution methods, and unique mechanisms like token burn ). The barrier to creating MeMe coin is very low, with many tools and platforms allowing anyone to easily issue their own MeMe coin. This ease of creation fosters innovation but also makes the market susceptible to a large number of low-quality tokens and potential scams.

The Growth and Explosion of MeMe Coin: The Role of Solana

Solana, as a high-performance blockchain, has become a game changer for the MeMe coin project. The main advantage of Solana lies in its lightning-fast transaction speed of up to 65,000 transactions per second and extremely low transaction fees. This efficiency has attracted a large number of developers and investors, resulting in a surge of MeMe coin activities based on Solana.

Solana can be compared to a budget airline in the crypto world - fast, low-cost, and very suitable for the high trading volume and high-risk characteristics of MeMe coins. The launch of the token launch platform Pump.fun further promotes the development of MeMe coins on Solana.

However, in February 2025, the LIBRA token scandal triggered by Argentine President Javier Milei affected other core protocols on Solana, leading to a sharp decline in the status of other Solana MeMe leaders in recent months. Nevertheless, the trading and token release platform Pump.fun still maintains over 150,000 daily active addresses.

In addition to Solana, BSC is also actively embracing MeMe. Recently, against the backdrop of the Abu Dhabi sovereign fund investing in Binance and the integration of the Alpha section into Binance's main site, BSC's Meme ecosystem has exploded.

The Power of Community: Social Media and MeMe Coin Frenzy

In the world of MeMe coin, the power of online communities is incredibly strong. Active communities on platforms such as Twitter( now known as X), Reddit, Discord, and Telegram are crucial to the success of MeMe coin. These vibrant communities drive the popularity and value growth of MeMe coin by continuously creating and sharing memes and viral content related to MeMe coin.

The value of MeMe coin largely depends on the collective belief and enthusiasm of its online community. Social media platforms are hotbeds for hype, where viral memes and collaborative efforts can quickly drive up prices. The "fear of missing out" ( FOMO ) sentiment is also a significant factor driving people to invest in MeMe coin.

Social media influencers and opinion leaders often become catalysts for the MeMe coin craze. A single tweet, a video, or even just an emoticon from them can generate significant attention and purchases in a short period, thereby significantly affecting the price trend of MeMe coin.

"钻石手"(Diamond Hands) is a popular term in the MeMe coin community, referring to investors who hold onto their assets even during price declines. This "never give up" spirit has created strong social pressure within the community, encouraging members to maintain their faith and not to sell easily.

However, this dependence on social sentiment also makes MeMe coin highly susceptible to sudden changes in public opinion. Essentially, the community has become the "currency" that determines the value of these digital assets.

Celebrity Effect: When Celebrities and Presidents Tweet "Endorse"

The price of MeMe coin is often driven by viral spread on social media, with celebrity endorsements acting as catalysts. Studies show that high-profile celebrities can quickly attract a large amount of attention through social media posts, particularly among their fanbase, many of whom are new to cryptocurrency and are easily influenced by FOMO to purchase related coins, resulting in a significant short-term price increase.

Typical cases include:

• Elon Musk: His social media posts have a profound impact on MeMe coin. In February 2021, he changed his social media profile to "DogeCoin CEO", and the price of Dogecoin skyrocketed over 1000% that week.

• Snoopy Dogg: The connection between rapper Snoop Dogg and MeMe coin includes support for Dogecoin and the launch of related projects, such as the Thug Life coin in 2023.

• Gene Simmons: The lead singer of KISS, Simmons calls himself the "Dogecoin God" and claimed to have purchased a large amount of Dogecoin in February 2021, causing the price to rise by 55%.

The participation of political figures has also introduced a new dimension to MeMe coin, blurring the boundaries between political movements, internet culture, and financial speculation. For example:

• Donald Trump: Announced $TRUMP coin on January 17, 2025, with the price soaring from $6.50 to $74.27 on the first day, reaching a market cap of $27 billion at one point. However, the price crashed after taking office.

• Javier Milei: On February 14, 2025, the promotion of $LIBRA coin saw a short-term price surge, but subsequently plummeted by 94% due to the deletion of related tweets, triggering the "CryptoGate" incident.

• Melania Trump: $Melania coin will be launched on January 20, 2025, with the price rising from $7 to $13 on the first day, but then it will drop significantly.

Celebrity social media posts can quickly ignite the market, but the impact is often short-lived, with price fluctuations resembling a roller coaster. The potential conflicts of interest behind celebrity endorsements and the lack of transparency have also raised concerns. In the future, regulation and community oversight may become key to balancing the celebrity effect.

Price Volatility and Speculative Appeal of MeMe Coin

The most notable feature of MeMe币 is its extreme price volatility. Some analyses indicate that the volatility of MeMe币 is 50 times that of Bitcoin. Its price is often driven by speculation and market sentiment rather than fundamental value, making it a high-risk, high-reward asset class.

For example, Dogecoin saw its price skyrocket nearly 300% within 72 hours in 2013, but then quickly plummeted by 80%. Similarly, the $TRUMP coin also experienced a significant drop after reaching a peak of $75. The movements of "whales" holding large amounts of MeMe coins often influence the price as well.

In addition, market manipulation further exacerbates this risk, including phenomena such as "pump-and-dump"( and "rug pull"), which are also relatively common in the MeMe coin space. Similar incidents have occurred with SQUID coin and BALD coin, making it essential for investors to remain extremely cautious and conduct thorough due diligence.

The history of MeMe coin includes success stories of early investors who achieved significant gains, as well as cautionary tales of those who bought at the peak and suffered substantial losses. The rapid and often unpredictable price fluctuations create a high-risk, high-reward environment where wealth can be quickly accumulated or lost in a short period.

Risks and Opportunities of Investing in MeMe Coin

M