The Development Journey of Meme Coin: An Absurd Journey from Zero to Hero

This article systematically outlines the development process of meme coins, analyzing typical cases and revealing their unique value logic: unlike traditional financial assets, the core value of meme coins is expressed as "cultural dissemination power × community consensus," rather than relying entirely on technology or practical value. Based on their evolutionary characteristics, they can be divided into three key development stages:

1. Breaking Ground/Foundation ( 2013-2016 928374656574839201 - Barbaric Growth, The Tide Washes Away the Sand

This period witnessed the original innovative journey of meme coins from zero to one, presenting a unique ecology where barbaric growth coexists with natural selection. Marked by the birth of DOGE in December 2013 and concluding with the maturity of Ethereum smart contract technology in 2016, it constitutes the purest and most authentic "Genesis Era" in the history of meme coin development.

Main representative:

• Ephemeral: Mooncoin, TIPS, Nyancoin, etc. Short-term popularity, lack of cultural accumulation, rapid extinction.

• Undefeated General Type: DOGE. Cultural symbol + community-driven, long-lasting.

2. Hibernation/Outbreak ) 2017-2021( - In the era of smart contracts, meme coin welcomes a qualitative change.

In the past five years, the market has witnessed the transformation of meme coins from an edge subculture to mainstream financial assets. With the popularization of the ERC-20 standard in 2017 as a technological turning point, and the historical market value set by SHIB in 2021 as a milestone, meme coins have undergone a qualitative change from "internet jokes" to "phenomenal investment targets."

Main representative:

• Meteor Shining Type: UET, HOGE, etc. Speculative driven, the bubble bursts quickly.

• Stellar Everbright: SHIB. Ecological expansion, breaking limitations.

• Transformational breakthrough type: FLOKI, SAMO, etc. Attempting innovation, but progress is slow due to various limiting factors.

3. Precipitation/Reconstruction ) 2022-2025 ( - The Rise of New Narratives, the Market Begins to Reshape

Since 2022, the meme coin market has undergone a deep adjustment from frenzy to rationality. Marked by the collapse of Terra in May 2022, and the rise of the BRC-20 standard in 2023, the meme coin ecosystem is experiencing a brutal yet necessary revaluation of value.

Main representative:

• Short-term speculation type: TRUMP. Relies on hotspots, extremely high risk.

• Eco-driven: WIF, BONK. Relying on public chains, short-term explosion.

• Narrative Innovation Type: GOAT. AI + Meme, Concept Speculation, Trust Crisis.

• Cultural Symbol Type: MOODENG. Internet celebrity IP, short-term popularity.

Meme coin will continue to face the challenge of balancing "speculation and substance," while technological innovations like AI, DeFAI), and community building will become key factors. Despite the market undergoing adjustments, meme coin, as a typical product of the attention economy, will still maintain its unique position and influence in the cryptocurrency space.