2024 Meme Track Analysis: From Viral Spread to Ecological Cornerstone

Summary

This article provides an in-depth analysis of the current development status and characteristics of the Meme track in 2024, covering aspects such as the popularity trends of Meme coins, the rise of platforms, dissemination methods, and market strategies. The main points are as follows:

• The meme coin craze shows periodic trends, especially prominent at the beginning of the year and in the second quarter. Its propagation model is similar to a virus, achieving exponential growth through social media and communities.

• Memecoin Launchpads have become an important innovation in this round, simplifying the creation and trading process of Meme coins, attracting a large number of users to participate. Each platform has its own characteristics in terms of user base, revenue, and ecosystem support.

• Meme coins are seen as pioneers in the development of the blockchain ecosystem, paving the way for subsequent ecological construction by attracting market attention and funds. Investment strategies mainly focus on leading coins, trading volume, and market sentiment.

• With liquidity becoming more relaxed, direct participation from officials, and the influx of venture capital, the Meme coin market is expected to continue heating up in the second half of 2024, with more professional and transparent gameplay anticipated.

New Features of the Current Meme Track

The popularity continues with periodic fluctuations.

The popularity of Meme coins has reached an unprecedented height in this round, especially outstanding in the first half of the year from February to April. Several popular coins saw an average weekly increase of 6 times, and some tokens set records for the shortest time to go live on centralized exchanges, signaling the resurgence of the Meme craze in the market.

The spread of memes is similar to the spread of viruses, relying on user sharing for rapid diffusion. Once they enter popular social networks, they can quickly infect a large number of users, especially when they provoke strong emotional reactions or have easily imitable elements. The ordi meme craze in early 2024 and the sol meme boom in the second quarter both embody this characteristic.

Meme propagation usually exhibits exponential growth, with a small number of initial contacts, but can spread to a large population in a short period of time. Certain users with a large following can significantly accelerate the spread and expand the impact. This mode of propagation reflects the behavioral characteristics of infectious diseases in multiple ways, relying on close interactions between people.

The rise of Meme platforms has become a new highlight

Memecoin Launchpads are a significant feature of the current rise of the Meme sector, such as emerging platforms like Pump.fun and SunPump. These platforms simplify the creation and trading processes of Memecoins and seamlessly integrate with mainstream blockchains, attracting a large number of users. They each have unique characteristics in terms of user targeting, daily issuance quantity, returns, project success rates, ecological integration, market promotion, and community participation.

The key to the success of the Memecoin platform lies in creating products with unique selling points, combining cultural trends and technological innovations. As the cryptocurrency industry continues to evolve, there are both opportunities and challenges in the Memecoin space, making innovation particularly important.

Target Users

The early pump.fun primarily targeted Western audiences, while SunPump is more popular in Asia. SunPump combines the team's marketing advantages on social media and stands out in the TRON ecosystem.

Platform income and expenses

Although SunPump was launched later, as of the end of August, its revenue was about 567K, issuing approximately 7,500 Memcoins daily. Pump.fun generates about 7,000 daily, comparable to SunPump. Both platforms charge a 1% transaction fee.

Ecological Support Situation

Pump.fun is developed by a third party, initially launched on the Sol chain, and later integrated into the Base chain and Blast chain. SunPump mainly operates on the TRON blockchain, supported by its payment system and exchange infrastructure.

In addition to the two platforms mentioned above, there are also Launchpads for various niche tracks, such as Memehub.ai based on the AI field, wonton.fun exclusive to the Ton chain, and Satspumpfun within the BTC ecosystem. These platforms differ in the public chains they support and their functional features.

Meme Ecology and Liquidity

Meme has performed remarkably in this market round, capturing a significant amount of market attention. One of the biggest features is that various parties in the market combine liquidity with the Meme ecosystem, using Meme to activate and lead market enthusiasm, liquidity, and ecological development. This is mainly reflected in two aspects:

1. Memes are regarded as the "stronghold" for ecological development by major public chains and project teams. From the Sol founder wearing a silly dragon costume to pump.fun and NOT's "fascia gun track", all are led by Memes. Memes are comparable to hook products in the web2 product matrix, capable of opening up the market first, accumulating funds through Memes, and paving the way for subsequent infrastructures such as DeFi, lending, and other products.

2. The time difference in dissemination provides a liquidity window. Outsiders entering the cryptocurrency world often first encounter the high-yield wealth creation myths of the Meme sector. High volatility means that significant returns can be achieved in a short period, attracting retail investors to participate. At the same time, many Meme coins have a relatively low unit price compared to Bitcoin, allowing retail investors to purchase a large number of tokens with a smaller investment, thereby lowering the investment threshold.

Meme as a case of ecological liquidity

• Linea Chain: $Foxy
• Base Chain: $Degen, $Enjoy, $High
• Manta Chain: $10 million Moon Mission Meme Grants funding
• Avalanche Chain: $COQ, $KIMBO, $TECH, $GEC
• Fantom: Sonic Memecoin Season
• zkSync: Meme logo Zeekcoin $MEOW

Main Types of Meme Projects in 2024

1. House Coins: such as BOME/SLERF/MEW/MANEKI, characterized by large pools, rapid price increases, large investment capacity, and high multipliers.

2. Hot event coins: such as GME/BODEN/TREMP/DJT/NCAT, speculated around hot figures or events.

3. Community coins: such as POPCAT/MICHI/SC/NEIRO, have high odds but also a high failure rate, making the community atmosphere crucial.

4. Celebrity Coins: Such as MOTHER/RNT/PAJAMES, rely on celebrity traffic and long-term operations.

5. Others: Tokens like WEN/BONK/WIF, which have legitimate team support or become market trendsetters.

Outlook for the Second Half of the Meme Track

1. The Shanzhai Index is at a historical low, providing favorable conditions for the return of the Meme track.

2. Official participation has increased, and a consensus in the Meme track has been formed. Future developments are expected to manifest as:

   • Establish the Meme Foundation and support programs
   • Venture capital funds join Meme infrastructure investment
   • The Meme gameplay is more professional and transparent.
   • Meme-based secondary products will see development.

3. The macro environment is trending towards looseness, which is beneficial for the development of the Meme market. It is expected that from the second half of 2024 to the first half of 2025, interest rates will show a downward trend, creating a favorable environment for Meme coins.