CoinGecko reports that the meme sector has reached a market capitalization of $50 billion, equivalent to over $300 billion in total transaction volume! The key trading volume stands at $4 billion, with liquidity reaching 8%!
What does this mean? In the crypto industry, meme sector liquidity surpasses the entire market capitalization of staked liquidity platforms, which total only $47 billion. Even the entire NFT market’s capitalization is less than $30 billion.
01. Value investment is a miss, meme all-in at the palace
Back in May of this year, Binance issued an official report admitting defeat:
To make money in crypto this year, meme trading is the way to go, with the sector soaring by 331%, far outpacing other sectors. Many VC coins reached their peak in this round because their businesses failed to land. There are still a pile of VC shares waiting to be unlocked. Whoever picks them up will be the big loser!
On the other hand, meme coins do not face this issue; they are directly listed and fully circulated. Life and death are fated, wealth and honor in the sky. Ten years ago, the myth of getting rich quick in the crypto world was buying BTC/ETH. In recent years, the myth of getting rich quick by the grassroots has been relying on memes. As an ordinary user, if you can’t get shares of high-quality projects at a low price and don’t have an exceptional understanding, don’t think too much about VC coins; study memes well!
02. In the last cycle, dogs dominated the market
Currently, in the meme sector, dogs reign supreme.
In the top 10 meme market capitalizations, there is a pattern of six dogs, three frogs, and one cat, with the unfortunate cat only ranking tenth.
The number one dogecoin far surpasses the second, with a market capitalization of over $17 billion, accounting for 35% of the entire market.
The second-ranked Shiba Inu coin (also known as Shiba coin) was born in 2020 and is said to be a masterpiece of Shenzhen’s capital market. After its project launch, it went half a year without trading a single dollar in daily trading volume, but now its market capitalization is $10 billion!
The author recognizes a sister who has become rich with Shiba coins. She lives a simple and boring life in a top luxury home in downtown Shanghai.
The soul figure of the dog family is Elon Musk. After the Shiba Inu coin became popular, Musk tweeted that he would name his pet Shiba Inu “Floki.”
Thus came the $FLOKI, currently valued at $1.7 billion:
However, the recent few dog memes have gradually loosened their ties with Musk:
First, Solana launched Bonk in 2023, claiming to be an extraordinary dog, and after almost a year of silence, it drove this year’s Solana season with a market value of more than $1.6 billion, if you could have made a hundred times as much by getting into the market last year!