MeMe coin: From Internet Joke to the Crazy Journey of Digital Asset

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 occasionally climb 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, the popularity on social media, and the consensus of online communities. Doesn't it sound a bit like a grand joke?

But this is MeMe coin, a peculiar phenomenon born out of internet humor that can create waves in the financial market. In fact, these seemingly unserious digital assets are attracting a massive amount of funds and attention at a staggering pace. This article will take you into the wonderful and crazy world of MeMe coin, exploring its origins and the potential future it may lead to.

The Origin of MeMe Coin: Began with "Doge"

MeMe coin, as the name suggests, refers to those cryptocurrencies inspired by internet memes. Their emergence is often filled with mockery and entertainment, fundamentally different from traditional cryptocurrencies that boast disruptive technology or solve real-world problems. You may see various animal avatars, popular memes, and even celebrities printed on these digital assets, and their existence seems to be for a laugh, while also seeing if they can stir up a little wave in the market.

However, it is precisely this seemingly "unserious" characteristic that becomes the unique charm of MeMe coin. They do not have complex mining mechanisms and total supply limits like Bitcoin, nor do they attempt to build a large decentralized application ecosystem like Ethereum. The value of MeMe coin often comes from community consensus and the viral spread on social media. A popular meme, a resonant tweet, or even just a joke can instantly make an obscure MeMe coin go viral, and its price rises accordingly.

Speaking of the pioneer of MeMe coin, it must be Dogecoin. This cryptocurrency, created by software engineers Billy Markus and Jackson Palmer at the end of 2013, was initially born as a joke. Palmer first publicly mentioned Dogecoin on November 28, 2013, joking on Twitter, "Investing in Dogecoin, I’m sure this is the next big thing." Its inspiration came from the "Doge" meme that was popular on the internet at the time.

In its early days, Dogecoin was primarily used for "tips" on social media platforms like Reddit and Twitter, allowing users to reward creators who posted interesting or valuable content with small amounts of Dogecoin. This lighthearted atmosphere attracted a loyal following, forming a vibrant community. Surprisingly, the early Dogecoin community also demonstrated a charitable spirit; for instance, in 2014, they raised $25,000 for the Jamaican bobsled team, which struggled to secure enough funding to participate in the Sochi Winter Olympics, and donated $30,000 to a clean water project in Kenya.

In 2021, Elon Musk mentioned DOGE multiple times on Twitter, propelling it into a global craze, with its price soaring over 8000% at one point and its market capitalization exceeding $88 billion. This initial joke project gradually accumulated enormous market value and influence in the following years. This fully demonstrates that a project that seems frivolous can achieve unexpected success if it cleverly integrates with popular internet culture and forms a strong community consensus, laying the foundation for the emergence of numerous MeMe coins that followed.

From Pets to President: The Wild Evolution of MeMe Coin

After the unexpected success of Dogecoin, a variety of MeMe coins have emerged like mushrooms after rain, as if the cryptocurrency world has experienced a "Cambrian explosion of life," with various digital assets themed around cute animals, characters, current events, or popular memes. Among the most eye-catching is Shiba Inu coin, often referred to as the "Dogecoin killer," which was launched in August 2020. Shiba Inu coin also features the Shiba Inu theme and attempts to replicate the success of Dogecoin while establishing its own large community known as the "SHIB Army." Bonk coin on the Solana blockchain is another rapidly rising MeMe coin, launched at the end of 2022, and it is the first dog-themed MeMe coin in the Solana ecosystem. Another notable MeMe coin is Pepe coin, which reignited interest in MeMe coins in 2023, inspired by the famous "Pepe the Frog" meme. Additionally, there are newcomers like dogwifhat, which features a Shiba Inu wearing a pink knit hat.

In addition to these "established" players, the world of MeMe coins is continuously witnessing new participants emerging, with more diverse sources of inspiration. For example, there are various zoo coins like the cat-themed MeMe coins "Popcat" and "MEW". Political figures are also venturing into the MeMe coin space, such as the $TRUMP coin officially announced by Donald Trump, which saw its market value soar to $14.5 billion, but plummeted after he took office. Melania Trump also launched her own MeMe coin, $Melania, which by February 2025 had lost 90% of its value. The involvement of political figures in issuing MeMe coins introduces a new dimension, as the coins created and promoted by political figures blur the lines between political campaigns, internet culture, and financial speculation, creating "unique risks" and opportunities. Additionally, there are MeMe coins inspired by artificial intelligence, such as Dawgz AI. In October 2021, there were only 124 types of MeMe coins circulating in the market, but by February 2025, millions of MeMe coins had emerged.

How does Digital Joy Coin work?

Although MeMe coins may seem like a joke, they still rely on the solid foundation of blockchain technology. Simply put, blockchain is like a shared digital ledger that securely and transparently records every transaction. Most MeMe coins operate as tokens on existing blockchains, such as Ethereum and Solana. This allows for faster development and the ability to leverage the infrastructure of existing blockchains.

Although some MeMe coins may claim to have certain unique technological features, their value and popularity are primarily driven by social and cultural factors rather than technological innovation or practical applications. Unlike crypto projects that are dedicated to developing new technologies or solving real-world problems, MeMe coins are more like a social phenomenon, with their value stemming from community consensus and market sentiment. Therefore, when evaluating MeMe coins, technical analysis often seems less important, while focusing on the community power and network hype behind them is more critical.

"Token economics" is also key to understanding how MeMe coin operates, primarily including the supply, distribution methods, and any unique mechanisms such as token burn. For MeMe coins like Dogecoin, mining remains the way to generate new coins. Various token economic models demonstrate different approaches to managing inflation and perceived value.

It is worth noting that the barrier to creating MeMe coin is very low, with many tools and platforms allowing anyone to easily issue their own MeMe coin by simply inputting a name, symbol, and image. This extremely low barrier explains the large number of MeMe coins in the market. While this ease of creation fosters innovation and allows for quick experimentation with new ideas, it also makes the market susceptible to a large number of low-quality tokens and potential scams, as there is often little to no review process.

The Growth and Explosion of MeMe: Solana

The rise of Meme coins is attributed to social media hype, community-driven support, and their appeal as low-barrier investments for new crypto enthusiasts. Platforms for Meme coin projects, such as Solana or Ethereum, have played a key role in this growth by providing the technological infrastructure needed for the mass creation and trading of these tokens.

Although Ethereum is the birthplace of many early meme coins like Shiba Inu, the high gas fees and congestion of the network often pose significant challenges for developers and investors. Solana, as a high-performance blockchain, has become a game changer for meme coin projects. The most striking advantage of Solana is its lightning-fast transaction speed, reaching up to 65,000 transactions per second, with transaction fees being extremely low, typically less than a cent. This efficiency has attracted a wave of developers and investors, leading to a surge in meme coin activities based on Solana. Therefore, Solana is dominating the meme coin market, making it the preferred choice for new and established crypto projects aiming to capitalize on this growth trend.

You can liken Solana to a budget airline in the crypto world, fast and low-cost, making it very suitable for those quick, impulsive decisions. This makes Solana very suitable for the high transaction volume and high-risk trading characteristics of Meme coins. Moreover, it is partly thanks to the token launch platform Pump.fun, which has facilitated the deployment of over 8 million tokens since its launch in early 2024.

Nevertheless, some traders believe that the doom of MeMe has arrived, but 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, with a sovereign fund injecting $2 billion into a trading platform and the resonance of a certain influential figure, combined with the integration of the Alpha section on a major trading platform, the Meme ecosystem of BSC has exploded in popularity.

Community is King: The Frenzy of Social Media and MeMe Coin

In the world of MeMe coin, the power of online communities is also very strong. Active communities on platforms such as Twitter, Reddit, Discord, and Telegram are crucial to the success of MeMe coin. Shiba Inu coin has over 3.9 million followers on Twitter, Pepe coin has over 766,000, Bonk coin has rapidly accumulated over 500,000 followers, while Floki Inu has over 475,000. It is these vibrant communities that continuously create and share memes and viral content related to MeMe coin, driving its popularity and value.

The value of MeMe coin largely depends on the collective belief and enthusiasm of its online community. Social media platforms are hotbeds for hype, and viral memes and collaborative efforts can quickly drive up the price. This community-driven valuation contrasts sharply with traditional financial assets, whose value is typically tied to fundamentals and actual utility. Additionally, the "fear of missing out" sentiment is also an important factor driving people to invest in MeMe coin.

When the price of a MeMe coin rises rapidly, many people worry about missing the opportunity and blindly follow the trend to buy in, even if they do not have an in-depth understanding of the project itself. Influencers and opinion leaders on social media often become boosters of the MeMe coin craze. A single tweet, a video, or even just an emoticon from them can quickly generate a lot of attention and purchases, significantly affecting the price trend of the MeMe coin.

"Diamond Hands" is a popular term in the MeMe coin community, referring to those investors who hold onto their assets even when prices are falling. This "never give up" spirit has created a strong social pressure within the community, encouraging members to maintain their faith and not to sell easily.