The Evolution and Development of Meme Culture in the Crypto Assets Field

Recently released film "All In" features some Crypto Assets elements, such as "coin Coin" and Keta Coin. With the film's release, the eponymous Keta Coin was quickly issued and traded on multiple blockchains. On a well-known data platform, Keta Coin has trading pairs on Ethereum, BSC, and Base chains. Among them, a decentralized exchange on the Ethereum chain has the highest liquidity. After the film preview on August 5, the price of Keta Coin skyrocketed over 3000 times within two days. However, the good times didn't last long; on August 8, the price began to drop, and by the 19th, it had almost fallen back to the level on the day of issuance.

Kusama coin belongs to a category of Crypto Assets known as "Meme coins." The concept of Meme can be traced back to Richard Dawkins' book "The Selfish Gene" published in 1976, where it is defined as a cultural factor that can spread on a human thought level. In the internet age, Memes often manifest as satirical images or memes, which are easy to disseminate and form a cultural consensus among a wide audience.

The combination of Crypto Assets and Meme culture began with Dogecoin in 2013. At that time, someone combined the Doge meme with Crypto Assets to satirize the hype surrounding them, creating Dogecoin. This Meme-based coin quickly became popular through social platforms. At the end of 2020, a well-known entrepreneur began frequently mentioning Dogecoin on social media, causing its price to surge significantly, peaking at $0.74.

The success of Dogecoin has spawned a large number of imitators. Early Meme coins were mostly secondary creations of internet cultural materials. Subsequently, some projects began to attempt to build grander narratives and ecosystems. During the bull market of 2021, animal-themed Meme coins were all the rage. Even in the bear market, the Meme coin market still occasionally sees hot topics, such as ArbDoge AI, which combines AI concepts, and the once-discussed Pepe coin.

However, many current Meme coin projects no longer focus on creating interesting stories or cultural connotations, but purely rely on speculative sentiment for promotion. Some projects even lack a clear narrative and completely depend on market hype. Taking BALD on the Base chain as an example, its price skyrocketed by 450% in a short period, but then the project team withdrew a large amount of liquidity, causing controversy.

The development trend of Meme coins is increasingly "short, flat, and quick". Although there is still room for survival for such projects, investors should be more cautious in the current market environment to avoid blindly following the trend. The future development of Meme coins still has many uncertainties, and market participants need to maintain a rational attitude.