The phenomenon of memes resurges: TROLL multiplies by a hundred in a week. Has the season of dogs returned?

As registrations cooled temporarily, BTC and public chains experienced a significant increase, leading to a surge of funds in the crypto market. In this context, memes are once again taking center stage.

The main appeal of meme assets lies in the culture they represent. These capture the attention of investors through the use of funny and entertaining images, concepts, or ideas.

During the last bull market, Dogecoin, driven by Musk, became a symbol of wealth sought by many. This week, the rapid rise of TROLL has sparked great interest among investors. This token generates high expectations in the community, which eagerly awaits its future evolution. Just like Dogecoin at its time, TROLL has multiplied its value several times in just a few days, rekindling market enthusiasm.

TROLL

The TROLL token has experienced significant growth recently. Its current market capitalization is around 89 million, with a trading volume exceeding 2 million dollars. The number of holders has increased from 3,000 a few days ago to 6,700.

This token was created after ZUZALU, in April. Initially, the project team abandoned it and closed the official website. However, it became a “ownerless token”. New participants got involved, adding functionalities to prolong its lifespan. Along with the market turmoil, people began to enthusiastically show interest.

In 8 days, its value has multiplied by tens and its capitalization has reached over 80 million dollars. Now many expect it to become the next SHIB; although this goal has been associated with countless projects, the important thing is to generate enthusiasm among investors.

The 24-hour trading volume has reached 28 million dollars, showing great popularity.

Will there be a sharp drop in the throne of memes?

Currently, the crypto market has fully entered the meme mania season. Many meme coins are skyrocketing in this round of market conditions, competing for the throne of the meme king under the leadership of their respective famous “spokespersons”.

The memes that will trend in 2023

PEPE

PEPE was born in April 2023. Two days after its launch, following the promotion by some influential accounts on Twitter that attracted the first wave of attention, the official PEPE account began to cooperate with the price increase of the token by frequently posting funny messages. The momentum of meme coins continued to grow. PEPE, “carefully planned,” became an instant success in just 4 days, reaching a remarkable increase of up to 375,000 times in a few months.

SILLY

Silly Dragon is a meme coin that took off with the resurgence of Solana. This silly dragon has become a spiritual symbol in the community. Although Silly Dragon did not have an advantage in terms of initial attention and tweet posting time, by coincidence, they were the first to launch their own token SILLY. After the launch, the popularity of Silly Dragon began to grow rapidly. With the support of a large traffic, Silly Dragon seized the moment, held the Silly Dragon Art Contest, and became a new phenomenon multiplying its value by ten thousand.

SAT

SATS is a meme inscription issued under the BRC20 standard. Its full name is Satoshi, which is the smallest unit of Bitcoin. It is different from the joke culture and rebellion of traditional meme coins. SATS is special because it pays homage to BTC and commemorates Satoshi Nakamoto. Its total amount corresponds to the total amount of BTC, reflecting a strong consensus on this inscription. SATS gained popularity on December 12, 2023, when Gate included it in its listing. Its market capitalization doubled, reaching 1.15 billion dollars, even surpassing the first inscription ORDI, and ultimately achieved a maximum increase of 25,000 times.

Diversification of meme coins

Meme coins have evolved from the ancient dog-oriented animal imitations to a more diversified development. The current categories can be divided into the following four types:

1. Classic meme: Tokenization of some classic meme images represented by PEPE and Pogai. There are many classic meme images that have not yet been tokenized or have not been successfully tokenized, such as Trollface, Grumpy Cat, Success Kid, Kermit the Frog.

2. Native crypto meme: Some “native” memes of cryptocurrencies represented by BONK and Silly Dragon, which come from the Solana community. There are also some imitation meme coins, such as Polygon's “Polygon Dragon.”

3. Meme inscription: Represented by SATS and RATS. Due to the special distribution method of the inscriptions, this type of meme does not even have an image, but uses text as support. Most have meanings of homage, commemorative, and ironic.

4. Original meme: Represented by the original style of HPOS1I and Ladys, different from the simple imitation of meme coins from the past. This type of meme coin has its own original style.

What type of meme is the most promising and which one should you choose?

1. Contagious. Fun, interesting, unique, and family culture are all contagious.

2. Celebrity endorsements. Even if it's not a direct endorsement, it's still good to at least be able to establish a connection.

3. Be aware of the risks. Memes are actually a game of passing the ball, and you can lose money quickly if the crypto market drops sharply. If you don't want to be the last to enter, it's best to be aware of the risks. First, the market capitalization shouldn't be too high. Second, presence on various social platforms further increases the risk.

Returning to TROLL, he was initially just trying to get Musk's attention. Fortunately, Musk finally connected with him! So there you have it. After all, Musk is the biggest influencer and the first to promote the memes sector. This traffic platform is completely saturated!

Final recommendation

The meme coin market is always full of temptations, but it also comes with high risks. Currently, with the evolution of meme coins and the addition of meme inscriptions, the complexity of choice is also increasing. If you really want to invest in meme coins today, then you must thoroughly research crypto market and Western meme culture. After doing enough homework, a potential meme project should have at least one standout aspect in cultural identity, marketing, storytelling, or community.

Legal notice: This article contains third-party opinions and does not constitute financial advice. It may include sponsored content.