Can TikTok serve as a traffic base to attract numerous Web2 users into Web3?
Written by: Fu Ruhe, Odaily Planet Daily
As the wave of AI and life science memes continues, TikTok has once again brought memes to new heights of traffic.
The TikTok meme coin CHILL GUY began to surge on the 19th, with a 24-hour trading volume exceeding $300 million and a market cap quickly soaring to $500 million, drawing market attention to TikTok memes. At the same time, many popular TikTok meme coins have been created, intensifying the market's FOMO sentiment. But which TikTok meme coins have truly emerged? As Warren Buffett famously said, "Only when the tide goes out do you discover who's been swimming naked."
Odaily Planet Daily also delved into the TikTok meme wave at the first opportunity and compiled a journey of insights, along with an introduction to two TikTok meme projects with certain explosive potential.
Meme Experience: Scrolled Videos All Night, Account Down 50%
Last night, I searched for the wealth code in various meme groups and discovered that memes on TikTok have started to spread in the crypto circle.
Having missed the AI and life science memes, I urgently entered the market with a few SOL. Thanks to the super popular sister from HTX for introducing me to the current TikTok meme situation.
From my understanding, the hottest meme right now is CHILL GUY (also known as Long Yi), which saw its market cap rise to $500 million in just 4 days, with a 24-hour trading volume exceeding $550 million. As soon as I opened the TikTok app, there were related recommendations. Subsequently, other popular memes like WAIT, HUZZ, and GRIDDY began to emerge.
As a meme novice who adheres to value investment theory, I first downloaded TikTok and started "scrolling videos" under various related hot topics, trying to find the essence of TikTok memes.
First, I chose the hottest CHILL GUY to study. What caught my eye was a cartoon character resembling a guinea pig, hands in pockets, with a blank expression, conveying how to calmly view various things. I must say, this image paired with a catchy background tune quickly made me "fall in." I immediately opened GMGN to study the market, and at that time, the market cap was just breaking $500 million, with prices continuously rising. Fearing that "the train would leave without me," I quickly bought some tokens with SOL.
I then began to research other popular memes like WAIT, HUZZ, and GRIDDY. WAIT originates from a catchy dance, similar to those on domestic Douyin, where users are imitating and filming; HUZZ is a newly developed slang, with many people asking in the comments or videos what it means. Personally, I think it generally represents a buzzing sound, and the other memes are quite similar.
After browsing around, I felt I had a strong understanding of TikTok memes. Below is a passage I wrote after my research last night, incorporating comments from Placeholder partner Chris Burniske from yesterday afternoon.
Memes have a characteristic that they need to be recognized by a certain group to form meme culture. Previously, most meme coins in the crypto world needed to cultivate gradually after launching, and even required investors to brainwash themselves to recognize the meme coin culture. However, the meme culture pre-certified on TikTok already has a large group supporting it, as Chris Burniske from Placeholder said, "When meme coins combine with TikTok's viral spread, they will reach a peak." This combination itself is what Web3 has always pursued in terms of mass adoption, but this time it is a proactive integration from Web2, representing significant meaning.
Interestingly, I found this morning that my meme account had directly lost 50%, with only two of the several memes I researched yesterday still alive: one is CHILL GUY, down 50%, and the other is WAIT, while others like HUZZ and GRIDDY are showing signs of going to zero or running away.
I am relieved that I did not choose the smaller market cap HUZZ and GRIDDY; otherwise, this article would be filled with "resentment." I summarized and reflected on some mistakes I made during the operation, writing them down for everyone's reference and caution.
- When you are influenced by the cultural attributes of memes, you should analyze more rationally when purchasing tokens, considering whether it is at a suitable point and avoiding FOMO. Just like I did yesterday, fearing "the train would leave without me," I ignored the current market sentiment, leading to a 50% loss by chasing a high point.
- Most meme coins that can withstand long-term market validation are rare. How to select the golden dog among numerous memes requires considering first-mover advantage and market virality. Although CHILL GUY caused me a 50% loss, I still believe it has value, possesses first-mover advantage, and has a high market cap, validated by the market. In contrast, HUZZ and GRIDDY were created only after CHILL GUY became popular; they may have some returns, but their PVP attributes are too heavy, making them unsuitable for meme novices.
- Skillfully use tools, such as checking on-chain holdings, etc. I am not professional in this area and am still learning. However, my colleagues are quite skilled in this, such as Nan Zhi's following strategy, Golem's opening strategy, and Asher's investment theory. Detailed plans can be found in Odaily's weekly updates on meme operations.
As of now, I still have a positive outlook on CHILL GUY and will increase my holdings at the appropriate time. Notably, El Salvador's President Nayib Bukele just posted an image themed around the meme concept CHILLGUY on X, bringing CHILLGUY back to a $500 million market cap. However, one point to remind everyone is that this coin currently has no official Twitter account or obvious organization; the benefit is that it is very meme-like, but it could also be a fleeting trend, which is quite different from the previous AI and life science memes.
Currently, there are roughly two ways to find TikTok memes: one is to scroll through popular TikTok videos and then find keywords to check on-chain for tokens with the same name, but be cautious of risks and choose tokens with a high number of holders and strong liquidity; the second is to rely on social media and meme groups to understand which memes most players are optimistic about. This may lead to chasing highs, but the certainty is relatively strong.
In summary, TikTok memes represent a new form, using TikTok as the first base to attract a lot of fresh traffic from Web2 into Web3, which distinguishes it from the previous ways meme coins were born. However, there are also many projects riding the wave; after one night, many CHILL-related tokens began to emerge. Since TikTok memes have not been around for long, my experience last night also reflects that the lifespan of most tokens is very short, so I hope everyone chooses carefully.
CHILL GUY
CHILL GUY is the iconic meme coin of TikTok memes. CHILL GUY originated from a video posted by the blogger helicoptero_eli on September 13, where the cartoon character displayed a calm demeanor, taking most things lightly, paired with a catchy background tune, becoming a sensation on TikTok. However, based on the release time of other derivative videos, there was not much widespread promotion from September 13 to early November, until recent days when related derivative videos began to spread wildly, with a total of 24,000 related videos online and an overall view count exceeding 20 million.
As the name CHILL GUY suggests, its characteristics are calmness, emotional stability, and a composed attitude towards life. Words may not describe it very accurately; please watch the video.
Contract Address: Df6yfrKC8kZE3KNkrHERKzAetSxbrWeniQfyJY4Jpump
WAIT
WAIT originates from a catchy dance on TikTok, prompting users worldwide to imitate it, with its popularity surpassing that of CHILL GUY, totaling 1.5 million videos online and over 100 million views. However, WAIT seems to be inspired by CHILL GUY and was created on Solana.
Personally, I feel WAIT does not have as much cultural spread as CHILL GUY; it lacks some depth in content.
According to GMGN data, WAIT is priced at 0.02 USDT, with a 24-hour increase of 89%, a market cap of $20 million, and a 24-hour trading volume of $136 million.
Contract Address: CbUPTbC4K7zdAEWxfa1nad4468xpX3LpWPhZVnzybhfN.
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