The Development History and Value Logic of Meme Coin

Meme coin, as a unique presence in the field of cryptocurrency, embodies its core value as "cultural dissemination power × community consensus," rather than relying solely on technology or practical value. Based on its evolutionary characteristics, it can be divided into three key development stages:

1. Breaking Ground/Foundation (2013-2016)

This period witnessed the original innovative journey of meme coins from zero to one, presenting a unique ecology where barbaric growth coexists with natural selection. Starting from the birth of DOGE in December 2013 and ending with the maturity of Ethereum's smart contract technology in 2016, it constitutes the purest "Genesis Era" in the history of meme coin development.

Main features:

• Technically, it is mainly based on Bitcoin or Litecoin code forks.
• The average active cycle is only 11.7 months, but some projects like DOGE show remarkable vitality.
• Established the most precious rebellious genes and innovative spirit in the world of cryptocurrency.

Typical case:

1. Ephemeral type: Mooncoin, TIPS, Nyancoin, etc.

   • Short-term popularity, lack of cultural depth, rapid disappearance

2. The Ever-Victorious General Type: DOGE

   • Cultural symbols + community-driven, long-term survival

2. Dormancy/Outburst ( 2017-2021)

The past five years have witnessed the transformation of meme coins from niche subculture to mainstream financial assets. Marked by the popularization of the ERC-20 standard in 2017 as a technological turning point, and culminating in 2021 when SHIB set a historical market value, meme coins have undergone a qualitative change from "internet joke" to "phenomenal investment standard."

Main features:

• Smart contract technology reconstructs issuance logic, significantly reducing issuance costs.
• Market capitalization significantly increased, with the overall meme coin sector's daily trading volume surpassing 30 billion dollars.
• Value perception reconstruction, converting online attention into liquidity premium

Typical case:

1. Meteor Shining Type: UET, HOGE, etc.

   • Speculation-driven, the bubble bursts quickly

2. Stellar Bright Type: SHIB

   • Ecological expansion, breaking limitations

3. Transformation Breakthrough: FLOKI, SAMO, etc.

   • Attempt to innovate, but progress is slow due to various limiting factors.

3. Precipitation/Reconstruction(2022-2025)

Since 2022, the meme coin market has undergone a deep adjustment from frenzy to rationality. Marked by the collapse of Terra in May 2022 and the rise of the BRC-20 standard in 2023, the meme coin ecosystem is experiencing a brutal yet necessary re-evaluation of value.

Main Features:

• Market capitalization has shrunk, but top projects still maintain leading rankings.
• The rise of new narratives, such as political finance ( PolitiFi ), AI, etc.
• Regulatory pressure increases, survival environment becomes stricter

Typical case:

1. Short-term speculation type: TRUMP

   • Relying on hotspots, extremely high risk

2. Ecologically Driven: WIF, BONK

   • Relying on the public chain, short-term explosion

3. Narrative Innovation Type: GOAT

   • AI+Meme, concept speculation, trust crisis

4. Cultural Symbol Type: MOODENG

   • Internet celebrity IP, short-term popularity

Future Outlook

Meme coin will continue to face the balance test of "speculation and substance." Technological innovations ( such as AI, DeFAI ), and community building will become key factors. Although the market is undergoing adjustments, as a typical product of attention economics, meme coin will still maintain its unique position and influence in the cryptocurrency field.