According to data from CoinGecko, the market value of the meme sector has reached $50 billion, which is equivalent to more than $300 billion! The key trading volume also stands at $4 billion, with liquidity reaching 8%!
What is this concept? Placed in the cryptocurrency industry, its market value surpasses the entire liquidity staking sector, which is only $47 billion; even the entire NFT market’s market value is less than $30 billion.
Those highly sought-after Layer2/DeFi tracks have market values of only a little over $20 billion.
The idea of value investing is nothing but a bubble; going all-in on meme coins is reigning supreme. In May of this year, Binance even put out an official report admitting defeat: To make money in the cryptocurrency circle this year, one must speculate on memes; this sector has seen a 331% rise in value this year, far surpassing other sectors.
Many venture capitalists hit their peak this round because their businesses didn’t materialize. There is still a heap of VC shares to be unlocked later, so whoever picks them up will be the bag holder!
Meme coins, on the other hand, don’t have this problem; they are directly traded, and fate ultimately determines fortunes.
Ten years ago, the myth of getting rich quick in the cryptocurrency world was all about buying BTC/ETH, but in recent years, the rags-to-riches myth has shifted towards memes.
For ordinary users, if you don’t have access to low-priced shares of quality projects and lack exceptional insights, it’s best not to think too much about VC coins; focus on researching memes instead.
In the previous cycle, the market was dominated by Dogecoin.
In the current meme sector, dogs reign supreme in this race.
In the top 10 list of meme market values, there’s a dominance of six dogs, three frogs, and one cat. Unfortunately, even the poor cat ranks only tenth.
The top-ranked Dogecoin far surpasses the second place, with a market value of over $17 billion, representing 35% of the entire sector’s market value.
ShiB (also known as Shiba Inu Coin), in second place, was born in 2020 and was said to be a masterpiece of the Shenzhen Ponzi scheme. Half a year after its launch, it didn’t even have daily trading volumes above $1, but now it boasts a $10 billion market capitalization!
One can recall a sister who got rich from investing in Shiba Inu. She leads a simple and mundane life in a top luxury home in downtown Shanghai.
The iconic figure in the dog family is Elon Musk; after the rise of Shiba Inu Coin, Musk tweeted that he would name his pet Shiba Inu “Floki,” leading to the creation of the $FLOKI token, which now has a market value of $17 billion.
However, recently, several dog-themed memes have gradually become less closely related to Musk:
First, Solana introduced Bonk in 2023, claiming it to be an extraordinary dog. After being dormant for almost a year, it has soared to a market value of over $16 billion, offering a hundredfold return for those who invested last year!
At the end of last year, Solana also launched a token called WIF, representing a hat-wearing dog, which skyrocketed after a couple of months. It now ranks fourth with a market value of over $20 billion.
In April this year, the Rune project introduced a new dog coin: DOG•GO•TO•THE•MOON (Runes). With a market value of over $500 million, it ranks ninth, marking a recent creation from the Chinese financial sector.
The cat faction’s attempt at dominance has failed as dogs
