The Development History and Value Logic of Meme Coin

Meme coin, as one of the most unique entities in the cryptocurrency field, combines cultural attributes and financial characteristics. Looking back at its development history, it can be divided into three key stages:

1. Breaking Ground/Foundation (2013-2016)

This period witnessed the original innovation of meme coins from zero to one, characterized by a coexistence of brutal growth and natural selection. It is mainly divided into two categories:

1.1 Ephemeral Type

Coins like Mooncoin, TIPS, and Nyancoin, despite their high short-term popularity, lack cultural depth and quickly fade away.

1.2 General of Constant Victory Type

Represented by DOGE, relying on cultural symbols and community-driven efforts to achieve long-term survival.

2. Hibernate/Explode(2017-2021)

The maturity of smart contracts has restructured the issuance logic of meme coins, resulting in three typical types:

2.1 Meteor Shining Type

Coins like UET and HOGE rely on speculation, leading to a rapid bubble burst.

2.2 Stellar Everbright Type

Like SHIB, breaking limits through ecological expansion.

2.3 transformation breakthrough type

Projects like FLOKI and SAMO are trying to innovate but are making slow progress.

3. Precipitation/Reconstruction(2022-2025)

The rise of new narratives, the market begins to reshuffle, mainly divided into:

3.1 Short-term speculation type

Such as TRUMP, relying on political hotspots, is extremely risky.

3.2 eco-driven

Such as WIF and BONK, relying on the public chain ecosystem, with short-term explosive growth.

3.3 Narrative Innovation Type

Like GOAT, combined with the concept of AI, but there is a trust crisis.

3.4 cultural symbol type

Such as MOODENG, using influencer IP, but the popularity is difficult to sustain.

The core value logic of meme coin is "cultural dissemination power × community consensus", rather than relying solely on technology or practical value. In the future, it will continue to face the challenge of balancing "speculation and substance"; technological innovation and community building will become key factors. Although the market is adjusting, as a typical product of the attention economy, meme coin will still maintain its unique position and influence in the cryptocurrency field.