Recent Meme Craze Sweeps the Cryptocurrency Market Through Crowdfunding
In this article, we will review the recent popular Meme projects and provide methods for obtaining information about new Meme projects, helping you understand how to find the next Meme coin alpha.
Introduction:
Opinion: The Meme coin frenzy is just the beginning, and 5 mainstream narratives will drive the bull market.
Background:
SLERF surpasses BOME and becomes the 8th largest Meme coin by market capitalization. How is the fundraising situation for SOL compensating victims?
Table of Contents:
Review of popular new Meme projects
SNAP(NAP)
Nostalgia(NOS)
Slerf(SLERF)
Methods for obtaining Meme projects in advance
Following the success of Meme coin BOME, which had a return on investment of nearly 460 times, the Solana Meme wave has begun again. The new generation of Meme fundraising methods has become the standard for popular Meme projects.
Compared to the previous trends of Meme coins, the scale and growth rate of this Meme coin have been impressive. It quickly broke through key market capitalization levels, catching the attention of the market and surprising the hardworking cryptocurrency projects. “Several years of hard work compared to just a few days with MEME.”
In this round of market trends, Meme took advantage of the FOMO (fear of missing out) emotions of investors who missed out on the mainstream coin market. Although the overall market and Bitcoin have reached new highs, not all cryptocurrency projects have benefited from the influx of traditional capital. The emergence of this round of Meme craze allowed this FOMO sentiment to be released, resulting in the myth of BOME reaching a market capitalization of over 2 billion USD in less than three days and being listed on Binance within three days.
On the other hand, the birth and development of this round of Meme also aligns with the development context of the asset issuance model in the crypto world. In the past, most Meme token issuances were based on random attributes due to certain events, famous individuals, or cute pets. However, the rise of BOME this time added all the funds raised to the LP pool, which reduced the risk of control by Meme coin project parties and created a fairer token launch, aligning with the core values of Web3.
These two factors have pushed this round of Meme market trends to a climax and further increased the community cohesion of the Solana ecosystem. As a result, Solana (SOL) and The Book of Meme (BOME) have become the hottest tokens on crypto social media last week.
The Book of Meme (BOME):
On March 13th, The Book of Meme (BOME) started its fundraising campaign, raising over 10,000 SOL in just two days. Darkfarm, the project founder, added all the raised SOL to the LP pool. The initial price was 0.03496 USDT, reaching a peak of 0.0268 USDT, with a maximum increase of nearly 460 times and a market capitalization of over 2 billion USD. Platforms such as Bybit, XT.COM, CoinW, and others have listed BOME, creating a myth of being listed on Binance within three days. Currently, BOME is trading at 0.0092 USDT with a market capitalization of 638 million USD.
As the leading project in this round of new Meme craze, The Book of Meme is created by Pepe Meme artist Darkfarm. It is a permanent storage album for Memes and will be expanded with a series of Meme creation features.
BOME adopts a presale fundraising method and injects all the funds raised into the LP pool, enhancing token liquidity and attracting large funds to enter. The project’s revenue is donated – once the token increases in value, investors receive substantial returns and donate some funds to the founder. This creates a partnership-like relationship between the founder and the community.
However, when the token price falls, the future development momentum of the project becomes uncertain, and we believe that we will soon see the answer.
On March 15th, KOL Kero opened a poll on social media about whether to issue Solana Meme tokens. After the vote passed, it took less than 2 days for SNAP to raise approximately 54,696 SOL, worth over 10 million USD at the time. On March 17th, it was listed on Raydium with a starting price of 0.04216 USDT, reaching a peak of 0.03153 USDT, with a maximum increase of over 7 times and a market capitalization of nearly 200 million USD. Platforms such as Bitget, XT.COM, CoinW, and Gate.io have listed NAP. Currently, NAP is trading at 0.04162 USDT with a market capitalization of 26.64 million USD.
SNAP is a new Meme project that has gained attention from CEXs (centralized exchanges) after BOME. Its representative, COCO, is a crocodile image similar to the PEPE style. However, SNAP’s token issuance is more focused on leveraging its popularity, and there is no disclosure of future project development plans similar to BOME.
On March 16th, Nostalgia (NOS) started its fundraising campaign and raised over 16,000 SOL in less than 12 hours, worth over 3 million USD at the time. On March 17th, NOS completed the over-time fundraising refund, token airdrop, and token listing.
The project founder, Satoshis Mom, also added all the raised funds to the LP pool. The initial price was 0.0059 USDT, reaching a peak of 0.0698 USDT, with a maximum increase of over 11 times and a market capitalization of nearly 90 million USD. MEXC and BitMart have listed NOS. Currently, NOS is trading at 0.0043 USDT with a market capitalization of 4.23 million USD.
Compared to the previous two projects, Nostalgia (NOS) has relatively lower popularity, but it has a better community atmosphere overseas. The project founder, Satoshis Mom, has been creating pixel art since early 2021 and has sold over 7,000 NFT artworks to over 1.1 million collectors on Ethereum. The theme of Nostalgia is “nostalgia,” and Satoshis Mom announced plans to launch a Bitcoin-themed writing project on Discord.
On March 17th, Slerf (SLERF) released a fundraising tweet on Twitter, and within 13 hours, the fundraising limit was reached, raising over 50,000 SOL.
However, on March 18th, bad news came for the Slerf project. The project founder made a mistake and destroyed the airdropped tokens, revoking the minting rights. The project founder confessed his mistake through tweets and Spaces, but surprisingly, the Slerf project did not fail. Instead, it received a response from the community, with many people buying in, causing the token price to increase by over 700% in one hour. In the meantime, BOME reached a market capitalization of over 100 million USD within 9 hours. The token price reached a peak of 1.36 USDT, with a market capitalization of nearly 700 million USD. Currently, the price is 0.7578 USDT, with a current market capitalization of 380 million USD.
As the most prominent presence in the Meme sector today, Slerf has attracted the attention of exchanges such as XT.COM, Bitget, and CoinW, and they have successively listed SLERF.
The above-selected Solana Meme projects are representative and listed in the vast array of Meme projects. However, the Meme craze has also spread to other public chains, such as LPM on Aptos and sener on Avalanche.
The wealth effect brought by this round of Meme market trends has made most people “envious.” So how can you obtain project information in advance and assess the project’s potential as much as possible? We summarize the characteristics and tools related to this round of Meme market trends for your reference.
From the perspective of query tools:
First, in this round of Meme market trends, Twitter is the main platform for most project crowdfunding. Most well-known project founders will first initiate a “should we issue tokens” poll on Twitter to collect initial community attention and then promote through fundraising tweets. Therefore, searching for keywords on Twitter is a common way to quickly find information about the popularity and new Meme tokens.
For example, most fundraising tweets for new projects will associate them with already well-known Meme projects. Therefore, it is common to search for relevant well-known projects on Twitter, such as PEPE, BOME, and the recently popular SLERF. However, it is necessary to timely discern the authenticity of the projects and choose projects with higher popularity. Factors to consider include the number of Twitter followers, whether there is attention from influential individuals, and the popularity of each tweet.
Second, there are dedicated data analysis tools such as Dexscreener and Arkham Intelligence, which use market data changes to find Meme tokens with higher market popularity. However, these tools require some level of proficiency, and beginners may need some trial and error.
Finally, primary market data and market information websites. Most of the time, it may be difficult to obtain early Alpha of new projects through these websites, but you don’t want to miss out on future price increases. In this case, price trend analysis and other market tools are needed. CoinGecko and CoinMarketCap have been widely used in the past, but their timeliness for data on new Meme coins is not outstanding. Birdeye stands out in this round of Solana Meme market trends.
From the perspective of project characteristics:
First, the fundraising method of BOME is the main feature of this round of Meme market trends. All the raised funds are added to the LP pool, which enhances token liquidity and creates opportunities for fair launches.
Second, looking at the common characteristics of most projects such as BOME, NAP, and Slerf, Pepe-style projects dominate. Darkfarm, the founder of BOME, is a Pepe Meme artist. NAP is derived from COCO (a crocodile in the Pepe style). Slerf features a Pepe-style sloth.
Finally, excluding Slerf’s unexpected success, most projects can achieve higher returns mainly due to the depth of the LP pool, which refers to the total amount of raised funds. Therefore, it is important to keep an eye on the progress and total amount of funds raised by relevant projects to assess their popularity. The high depth of the LP pool attracts whales or so-called market makers, which in turn triggers FOMO sentiment among the public and leads to a frenzy.
We would like to remind readers that although this round of Meme market trends has brought about significant wealth effects, Meme coins are highly volatile and have a short lifespan. Please invest with caution and be aware of the risks.
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