Meme continues to bombard the cryptocurrency market. Last night, Vitalik's "Cat Call" caused Meow Meow Meow Meow Meow to gain more than 50 times the increase. This morning, TROLL was instantly cut off after Musk deleted "(CTO) Chief Troll Officer" from the X introduction. This may be the charm of meme, but when it comes to meme coin speculation, we still have to look at the Solana ecosystem.

With the launch of WIF contract on Binance and the LFG vampire attack on the Ethereum ecosystem, Solana's memes continue to peak in 2024. BlockBeats has compiled a new wave of meme frenzy on Solana for readers' reference. It should be noted that meme coins themselves have no use cases and are mostly emotional speculation, so investment should be cautious.

JUP Airdrop System

Recently, the most anticipated event in the Solana ecosystem is the airdrop of the DEX aggregator Jupiter. The project team has also done a lot of "tricks" around this matter. On January 16th, Meow, co-founder of Jupiter, stated that before launching JUP, the team plans to test the new release platform, which will include two main tests. These two tests are the JUP simulation meme coin mockJUP and the launch platform meme token WEN.

mockJUP

MockJUP was originally created without any actual value, as a test coin issued by the project team for the JUP token airdrop, allowing users to participate in and experience the airdrop in advance. On the evening of January 16th, users could go to the testnet faucet to receive 5000 mockUSDC, and then visit the airdrop website to receive the mockJUP airdrop. As it was deployed on the mainnet, mockJUP was listed for trading on January 17th, with a maximum increase of 21900%.

WEN

Last week, Jupiter officially announced the launch of the beta version of the Jupiter LFG Launchpad platform, and revealed that the platform will be used for the issuance of future meme tokens and JUP. WEN is the meme coin that will be tested and issued on the LFG Launchpad platform, accounting for 70% of the total supply. WEN will be airdropped to millions of Solana wallet addresses, with each user able to claim a fixed amount of over 600,000 tokens, including users who have already claimed mockJUP. In addition, 20% of WEN will be used to build liquidity on DLMM, and 10% of WEN will be reserved for the treasury.

WEN was launched for trading on January 27th, and excluding extreme situations such as pump and dump schemes, its price surged by 3500% after being listed.

"Real World Mirror" Series

Thanks to the large traffic and low transaction fees, many real-world meme cultures have also successfully entered the Solana ecosystem, with the most popular ones recently being from the US music industry and US stock market.

Music Trend

In mid-January, the DEXScreener token trading heat ranking was dominated by musicians, with TUPAC, MJ, and YE ranking in the top three in terms of trading volume.

As a pioneer of popular culture, Michael Jackson's fame needs no introduction. Buyers of this meme coin also trade in honor of MJ. The meme coin MJ saw a maximum increase of 39900% after its launch.

Kanye, as the most awarded hip-hop artist in the United States, is a representative of the new generation of trend culture. After its meme coin YE went online, the highest increase was 39899%. Tupac, also known as 2Pac, was the most influential rapper in the United States in the last century. Rolling Stone magazine listed him as one of the 100 greatest artists of all time. After its meme coin TUPAC went online, the highest increase was 12899%.

However, the prices of these music-themed meme coins have fallen significantly. BlockBeats is only taking stock and not providing investment advice. Readers should exercise caution.

US Stock Market

Last weekend, the token trading heat of DEXScreener was related to concepts in the US stock market, including Wall Street, Robinhood, and the most famous of which is Game Stop (GME). Three years ago at this time, the US stock market was witnessing a battle between retail investors and Wall Street in the long and short game, with Game Stop as the protagonist.

Game Stop is an old-fashioned game product retailer in the United States with a history of 37 years, mainly focusing on offline retail. Due to the impact of online games, GameStop has been losing money for years, and its stock price has fallen from $28 in 2016 to $3 at the end of 2019. At the end of August 2020, GME began to skyrocket, doubling in four months. On January 13, 2021, GME rose by 57%.

On January 19th, the short-selling institution Citron Research expressed bearish views on Game Stop, claiming that its stock price would fall to $20, nearly halving the closing price of that day. This news sparked anger among many retail investors who disagreed with the institution's views and called on investors to continue buying Game Stop stocks on the internet to squeeze out the short sellers.

So, on the WallStreetBets forum, a large number of young investors who believe in the YOLO culture (which advocates living in the moment and taking bold actions) began to "team up" to buy GameStop's stocks and options. By the end of January, GME's stock price had risen by more than 1700%, and retail investors collectively staged a spectacular drama of "beating Wall Street".

Three years later, at the time on Solana, known as the "Nasdaq on the chain," GME returned to the stage, with meme prices soaring up to 2499899%. Although it was just a meme coin transaction, it also represented that crypto players still commemorate this epic stock market trading myth.

Through the above inventory, it can be seen that meme coins need to have a high cultural identity or spoof genes in order to succeed, in short, they need to have something worth talking about. Trading blogger Fiona (@nft_hu) once shared her trading experience with meme coins on social media, which was authorized by BlockBeats for editing and included in the article for readers' reference (source).

How to choose meme coins:

1. The most important thing in the encryption industry is having a good name: a name that is easy to remember, meaningful, and fits the meme. This is somewhat similar to being a "looks enthusiast". With hundreds of new memes being born every day, having a good name can make people remember it immediately, which is very important.

2. Good concept: This determines the subsequent narrative and dissemination, and determines how high it can fly.

3. Good dissemination/community: The essence of a meme is actually more like social dissemination. How to get more people involved and take over the shout-out? This requires a deep understanding of the dissemination rhythm of the meme within the community and social media.

How to trade meme coins:

1. Buy small positions, so that you won't feel too bad if you lose. The real way to win big is through high leverage. Meme coins are essentially like lottery tickets, either you lose everything or you become extremely wealthy. It's important to buy small positions so that you can handle the volatility and have a chance to catch a 10x or 100x increase in value.

2. What should I do if I bought at the "Christmas Tree Top"? Some people may tell me that they bought at a very bad price, but in fact, memes are difficult to price because they are essentially air. You don't need to worry too much about the top 10m. As long as it really goes up, your so-called "bad position" will become a good position.

3. Regarding Meme on Sol/Eth, it is common for it to reset within 10 million. However, it can continue to break through strongly after reaching 20 million. If you want stability, you can consider adding positions on the right side.

4. Liquidity: The meme pool is shallow, so if profits are significant (exceeding 5% of the pool), it is advisable to sell a little bit to increase turnover and help the remaining profits rise higher.

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