Original | Odaily Planet Daily (@OdailyChina)
The crypto market rebounds against the trend, and the Meme coin craze continues.
In the wake of a wave of wealth-generating Meme coin projects, countless crypto players are rushing to join the "PVP battle," while various Meme coin projects with different tickers and symbols are spreading in an increasingly "abstract" and cult-like atmosphere across a larger market—this has not only spawned a frenzy of "shouting" from numerous crypto KOLs but has also refocused market attention on the latest developments related to various Meme coin projects, especially the "dumping for charity" actions of Ethereum co-founder Vitalik, which in some ways has added fuel to the "Meme coin heat."
Odaily Planet Daily will summarize some representative viewpoints in this article for readers' reference.
Vitalik: "Thank you for giving me the opportunity to do charity with Meme coins"
On October 7, Ethereum co-founder Vitalik Buterin posted, "I am very grateful to those Meme coin projects that directly donate part of their token supply to charities. (For example, I saw Ebull donated a large number of tokens to several charities last month.)
Any tokens sent to me will also be donated to charities (thanks to the Moodeng Hippo Meme coin project, the 10 billion tokens I received today will be donated to technology for preventing airborne diseases), but I would prefer to donate tokens directly to charities, and perhaps we could even establish a DAO to allow the community to participate directly in decision-making and processes.
I have mentioned before that I believe the best outcome for Meme coins is that they can maximize positive effects for the world, so it’s really great to see such things happening."
In the comments section, someone asked, "When will you post about the 'Ethereum Bull Market'?" Vitalik humorously responded by posting a meme of the previous "shouting ETH" meme: Ethereum is good.
Vitalik's comment section reply image
VanEck Investment Manager: "Meme coins are worth learning from for crypto projects"
On October 8, VanEck portfolio manager Pranav Kanade posted, Meme coins have four key aspects worth learning from for teams in the crypto space:
1. Simplicity: Many teams over-design their tokens without realizing that:
- Time + Capital + Attention = Scarcity;
- About 600,000 tokens were issued last year;
- The competition for the above scarce resources has intensified due to the ease of token issuance.
Instead, they should focus on:
Simple token design;
Clear vision;
Demonstrating how the execution of the vision creates wealth for token holders;
2. High circulation, low FDV (low entry valuation);
3. Founder/Team alignment: We can only become wealthy by achieving goals/delivering products as promised;
4. High transparency (for example, disclosing the cost basis of venture capitalists, which is often hard to find).
Notably, Pranav specifically thanked Solana Foundation BD Kuleen in the comments section for forwarding him the hottest "new generation of Meme coin shouters, the new Meme coin guru, and the crypto KOL sensation"— Murad.
Crypto KOL sensation Murad: "This is the super cycle of Meme coins"
At the industry event Token2049 in September, Murad gave a keynote speech titled "The Super Cycle of Meme Coins," vividly depicting the achievements Meme coins have gained in this cycle and their ongoing potential to shine. Based on the rich and detailed data he presented and his highly infectious and provocative language, the speech became a hot topic of discussion among retail and institutional investors in the subsequent crypto market. (Odaily Planet Daily note: The author has placed the specific address of the speech here for interested readers to watch.)
Screenshot of Murad's speech theme
It is also worth mentioning that Murad previously served as the Chief Investment Officer, Bitcoin analyst, and economist at Adaptive Capital (an institution founded in May 2019 by Willy Woo, the creator of the Bitcoin NVT valuation model and a well-known Bitcoin investor) and has repeatedly expressed optimistic views on Bitcoin's development. One can sense his previous speaking style:
In January 2019, Mahmudov was very optimistic about Bitcoin in the long run, believing it could fundamentally change global finance. Mahmudov claimed he would not spend Bitcoin for at least a decade, as the potential upside and asymmetric risk of the asset made it absurd to use Bitcoin at current prices.
In September 2019, he stated, "If people's trust in government institutions is slowly decreasing, I believe they will gradually seek various alternatives. If inflation, national regulation, geopolitical tensions, commercial banks, and negative interest rates cause fiat currency holders to suffer losses, the motivation to buy and hold Bitcoin may become stronger."
He also once explained at an international conference over 50 reasons why Bitcoin's price and adoption will explode in due time, including:
- Public trust in banks and traditional institutions is declining. This is likely due to increased political polarization and the 2008 recession, leading the public to become increasingly distrustful of mainstream media and banks. This underlying distrust and turmoil lay the groundwork for the implementation of new de-trust systems like Bitcoin.
- Global debt is ballooning, and some may need a "Plan B" like Bitcoin or gold.
- Negative-yield bonds have reached a historic high of $15 trillion. Bitcoin may attract investors who are beginning to realize the state of the global economy.
- Macro investors are turning to Bitcoin. Macro hedge fund managers and investors have started to shift towards Bitcoin, which only highlights its potential. For example, former Goldman Sachs executive Raoul Pal has begun to turn to Bitcoin, calling it a choice about the future of finance and the best asset for the current millennial generation, stating that Bitcoin's value is significantly undervalued in the long run.
It can be said that Murad is a veritable "BTC Maxi," a crypto OG, and now, the object of his promotion is no longer the revered BTC, but the "Meme coins that everyone can participate in."
Moreover, he has also "practically" participated in Meme coin trading, having bought SPX four months ago, yielding a profit of up to 79 times; recently, he even tweeted bluntly, "Whether you love it or hate it. In this cycle, Meme tokens will outperform everything. This is just the beginning."
Previously, he also posted that "VCs, retail investors, and TradFi will buy Meme coins because the smart ones are doing this," and he claimed, "The reason for the arrival of the Meme coin super cycle is that investing in Meme coins is a matter that concerns everyone; the more enthusiasm people have for investing, the more prosperous assets like Meme coins will become."
Murad reiterates that the super cycle of Meme coins has arrived
Mechanism Capital Co-founder: "The five major Meme coins of this cycle have emerged"
On October 5, Mechanism Capital co-founder Andrew Kang posted, "It seems that Murad's speech at Token2049 catalyzed the next wave of capital reallocation into Meme coins. POPCAT appears to be one of the beneficiaries of this capital flow and is currently undergoing price discovery.
The four major Meme coins preparing to join this cycle are—BONK, WIF, PEPE, and FLOKI."
DWF Labs Co-founder: "Institutionalizing investment in Meme coins is our focus"
DWF Labs co-founder Andrei Grachev posted, "The Meme coin market has become a mature and solid part of the industry. It leverages extreme fear and greed, allowing savvy investors and traders to amass significant wealth.
DWF Labs institutionalized investment in Meme coins years ago, and it remains one of our priorities."
OG KOL Cygaar: "As long as the internet exists, Meme coins will continue to exist"
Crypto KOL cygaar posted, "The trend of Meme coins is inevitable.
Cryptocurrencies are widely adopted by the following groups:
- Always online, passionate about internet culture;
- Always looking for ways to make money;
- Wanting to be part of a closely-knit community;
- Needing some belief.
For the new generation of internet consumers, creating, trading, and discussing tokenized Memes is a natural evolution.
There is still much work to be done to make Meme coins more transparent and fair, but people are having fun, and some have made a lot of money in the process.
The temptation to get rich by investing in the next viral Meme coin will continue to attract users. This is also why AMC and GME became such massive phenomena. As long as people spend a lot of time on the internet, Meme coins will continue to exist and thrive."
Summary: The price of BTC is about freedom, the price of Meme coins is about fairness
After the approval of the Bitcoin spot ETF, when global asset management giant BlackRock CEO Larry Fink was asked how much he thinks Bitcoin will be worth in the future, he replied, "What is the value of human freedom?" He then boldly stated, "I firmly believe that Bitcoin has an indispensable position in the portfolio; it is like 'digital gold.'"
If Bitcoin, as the first decentralized cryptocurrency in human history, represents freedom, then Meme coin projects, rooted in internet culture and growing within various spiritual cultural symbols, seem more like symbols that "call for fairness and desire connection"—low barriers to entry, easy to understand, community-oriented, enjoying the present, earning high returns, and hoping for overnight wealth.
The aspirations tied to Meme coins are not just about our desire for money; perhaps they also reflect our expectations for connections through symbolic imagery in reality and the internet. This is also the reason why Meme coins will continue to exist and thrive.
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