Author: Nomos Labs Source: mirror

Few have thought that the birth of Meme coins might be a cultural experiment in the crypto world: how much is a joke worth? How much financial ripple can a humorous quip create? From DOGE to SHIB, and to this year's skyrocketing $Neiro, these seemingly 'nonsensical' currencies repeatedly refresh people's views on the narrative capability of Meme coins.

In 2024, the Meme coin market remains lively amid uncertainty. It is not just an entertainment symbol in the crypto space but has become a paradise for speculators and a barometer of market sentiment. However, if the stories behind the price surges are peeled away, we find a logic that is both familiar and unfamiliar driving this carnival: Meme culture, market sentiment, and technological narrative are redefining the value boundaries of Meme coins.

1. How can Meme coins tell a 'good story' about emotions?

On the surface, Meme coins are a continuation of Internet meme culture, but their real charm lies in their ability to quickly gather emotions through storytelling, shaping short-term 'mass hysteria.' However, concerning the long-term value of Meme coins, no one has yet managed to cut through the fog to find the certainties and implications made up of countless stories in that 'bubble.'

It's a joke, but also a cultural resonance.

The earliest $DOGE Dogecoin can be seen as a complete 'parody.' It had neither complex technical support nor ambitious application plans, but with a Shiba Inu meme, it became the spokesperson for Internet meme culture. In 2024, this meme narrative was further amplified, as new players attracted attention not only through 'jokes' and 'humor' but also started to play the cultural sentiment card.

For example, Pepe's sad frog, the frog image behind it has long been a classic in online culture; its popularity does not rely on technical highlights but rather on community dissemination and cultural recognition. In a short time, Pepe's community rapidly expanded, becoming the biggest dark horse in Meme coins this year. It is evident that as long as the 'emotional points' in Internet meme culture are grasped, Meme coins can quickly tell a good story and rally consensus.

Community-driven: it resembles an emotional game.

The popularity of a Meme coin definitely stands behind a crazy Community. Elon Musk's support for Dogecoin and the '$Pepe' 'Frog Army', these Community members are not just investors but also proactive 'content creators.' They are keen on creating memes on social platforms, bringing people in, and even transforming the Meme coin from a 'joke' into a 'trend.'

The example of $SHIB is very typical. In 2024, it not only relies on meme culture to maintain its popularity but also tries to attract long-term users through technological narratives, such as its Metaverse project Shibaverse, which is still in its early stages but is enough to give the Community a new 'bragging point.'

From this, we can see that for Meme coins, meme culture is the underlying characteristic, but its true charm lies in the ability to narrate a community story — telling a story that resonates emotionally, making everyone 'want to buy and dare to buy.'

2. A magnifying glass for market sentiment, a safe haven for speculators.

But in any case, the underlying logic of a 'good story' that can influence market changes requires 'interest-driven' motives. The reason Meme coins can remain hot is not only because they are 'fun' but also because they have become a highly volatile safe haven for speculators during downturns in the crypto market.

Price surges and the 'wealth myth' that speculators love to talk about.

Looking back at 2024, the most eye-catching market trend was undoubtedly the explosive rise of $Pepe. From the beginning of the year to the middle of the year, the price of this sad yet funny frog achieved more than a hundredfold increase — the market is attracted to such currencies, not because of their strong technology or applications, but because they are easy to "hype up".

The issuance threshold for Meme coins is low, with extremely low prices and seemingly limitless potential for growth. This characteristic is particularly friendly to retail investors: even with just a few hundred dollars, there is the possibility of a "10 times, 100 times" gain. For investors who entered the market late, these high-risk, high-reward speculative assets have become the best choice to chase wealth effects.

Market fluctuations, the "emotional outlet" in a bear market.

Interestingly, when the overall crypto market enters a period of fluctuation, the popularity of Meme coins actually rises against the trend. This is not because Meme coins have strong fundamentals but because speculative funds need a new "emotional outlet."

Unlike mainstream currencies, Meme coins do not have a complex valuation logic nor do they rely on strong ecological support; they rely on market sentiment. When it is difficult for other assets to engage retail sentiment, Meme coins become the "stronghold" of emotional trading.

Thus, the clear market indication is that behind the price fluctuations of Meme coins is the amplification and reflection of market sentiment: for speculators, they are the low-cost, high-volatility choice; for the market, they are a true "emotional mirror." Therefore, it is not hard to understand why people start to enjoy listening to their stories and prefer that they create seemingly close yet fantastical "wealth-building stories."

Three, can Meme coins enhance their value through technology?

We understand the changes in market sentiment, but we must also clearly recognize that relying on cultural narratives and speculative emotions can only lead to temporary success. If Meme coins want to go further, they need to find an underlying logic that can support long-term compounded value, which must be based on technological innovation to create new narratives and application scenarios.

AI "new concepts" create empowered technological narratives.

This year, AI technology has become a hot topic in the crypto space. Some Meme coin projects seized the opportunity to launch AI-powered features, such as AI-generated content. In this way, Meme coin projects can quickly and cost-effectively provide ongoing interaction and Entertainment experiences for a broad audience of investors and Community members. Moreover, AI trading strategies leverage the advantages of AI algorithms, allowing project teams to more accurately predict market trends, analyze trading data, optimize investment decisions, and so on. Although the early results may not have met expectations, it is undeniable that the introduction of AI technology has injected new vitality and narrative threads into Meme coins.

NFT interplay continues the cultural narrative.

At the same time, NFTs remain an important "partner" for Meme coins, continuing to showcase their unique charm and potential in 2024. Especially in projects like $Pepe, investors can not only profit by purchasing and Holding Pepe coins but also showcase their identity and status by acquiring unique NFTs.

The combination of NFTs and Meme coins is no longer just a simple exchange of digital Assets but a profound manifestation of identity recognition and community culture. Through NFT-bound features, these projects offer investors more personalized and emotional participation methods, making the act of Holding these Meme coins not just an investment behavior but a form of community belonging expression. It is easy to imagine that as more innovative features continue to emerge, NFTs will continue to be an important "accelerator" for the development of Meme coin projects.

Attempts to combine payment scenarios with DeFi increase the value leverage of tokens.

Of course, in the imaginative world of the crypto coin market, some Meme coins are also attempting to expand their payment functions. At the year's end, DogWifCoin officially announced a partnership with Oobit to launch a new payment feature called "Wif Pay," allowing users to use $WIF for Consumer spending and enjoy a 3% cashback reward.

Projects like SHIB leverage DeFi protocols to allow token holders to gain more tangible benefits. For example, the governance token $BONE of the SHIB ecosystem is widely used in liquidity Yield Farming on ShibaSwap, where investors can earn returns through staking (BURYing) and providing liquidity (DIGging).

Such technological narratives continue, and technological empowerment will be an important focus for the next phase of Meme coins. Although it seems like storytelling in the short term, in the long run, only when the technological narrative is realized can Meme coins possibly escape the fate of short-term speculation.

In conclusion: Is the next stop for Meme coins the rise of meme economy culture or the collapse of the bubble cycle?

When we look back at the market in 2024, we can see that there are three key drivers behind the rise of Meme coins:

• Culture: Meme culture and community consensus are the foundations of Meme coins, enabling them to continuously tell an appealing story.

• Emotion: The fluctuations in market sentiment and the drive of speculators have made it the most 'explosive' asset.

• Technology: New Concepts and new application scenarios are the keys to making Meme coins more 'valuable' in the future.

However, these three aspects also present obvious risks: How long can the story be told? How long can the sentiment last? Can technology truly be realized? The answers to these questions will determine the future direction of Meme coins.

But as we begin to envision the future of 2025, it is certain that Meme coins have transformed from a 'joke' into a unique phenomenon in the cryptocurrency market. Amidst the increasingly restless and explosively emerging 'Gold Cycle' of cryptocurrencies following the USA elections, its vitality is far from over, but whether it can break free from the revelry and enter a true 'value era' remains to be seen.

In 2025, please let the Meme coins respond.