"Evolution Theory of Fools | Meme Coins Have Become Mainstream in the Market, Overtaking NFTs as the Gateway for the Masses"

In the previous bull market, NFTs became the tokens for the popularization of blockchain applications, adding fuel to the fire of the era of printing money, creating a booming market.

This round of the market is different because the funds for Bitcoin ETF are locked up, not bringing much external funding to competing coins (Alts). It remains to be seen whether the listing of Ethereum ETF will spill the interest of external funds to other cryptocurrencies. Therefore, some describe this as a "Bitcoin-exclusive bull market."

However, in this bull market, "meme coins" have created a new situation. Under the three elements of "technical fatigue," "resistance to venture capital," and "evading regulation," meme coins have become the dominant concept currency. The liquidity of "meme coins" is even better than USDT, and the trading activity far exceeds other "high-end concept" currencies. For more details, see: Memes Generation! What are meme coins with better liquidity than USDT? VanEck, the issuer of ETFs, even launched a meme coin index "MEMECOIN" based on the Volume / Mcap indicator.

Andrew Kang: The "Survival of the Fittest" Meme Narrative Can't Be Stopped

Social media investor Andrew Kang stated on 5/29 that:

"The skyrocketing of meme coins is no longer a signal of the market top, as meme coins are no longer the dead-end of the industry. In fact, they are now the most trusted part of new capital. Meme coins have been leading the market. You must adapt to it, or you won't survive."

This statement also reveals that fund speculators have entered the world of memes and are intentionally conducting large-scale speculation.

Celebrities Joining the NFT Craze

Former President Trump highly praised cryptocurrencies, leading to a surge in meme coins named after Trump; well-known media personality Caitlyn Jenner issued a meme coin called JENNER; and rapper Iggy Azalea also joined by releasing the meme coin MOTHER. These actions have further fueled the meme coin craze, similar to the early stages of the NFT craze with numerous celebrity endorsements.

Rules for Meme Coin Issuance Heating Up

Platforms like Pump.fun, a meme coin fair issuance platform, have standardized more transparent issuance rules. Through the "price curve," they create popularity, allowing for a smoother entry into the meme coin market compared to the past.

The Evolution of Idiocy: The Investment Market Lying Flat in Dementia

In 2006, there was a movie called "Idiocracy," where an American soldier named Joe participated in a highly classified military experiment studying human hibernation technology. Unfortunately, an accident occurred during the experiment, causing him to wake up five centuries later from hibernation. Upon waking, Joe found himself in a completely unfamiliar future world.

This future world was drastically different from the one Joe knew. Commercialism had reached uncontrollable levels, and people's lives were dominated by endless consumption. What was more shocking was that this society advocated anti-intellectualism, as people lost interest in knowledge, no longer pursuing wisdom and innovation. Core values such as social responsibility, justice, and human rights were nonexistent in this world.

The cryptocurrency investment market may be entering an "anti-intellectual" era, where "practical technologies are too distant," "there is too much manipulation in trending topics," and "organized startups will be regulated, so why not just lie flat and be mediocre."

Meme coins are fully circulated from the beginning, with no "certain foundation holding a large amount of tokens" or "famous venture capital with low lock-ups." Everyone entering the market has the opportunity to be the house, speculating in different market cycles. This allows both whales and retail investors to fairly reap profits, with more efficient liquidity compared to NFTs, making this meme era more prosperous.

More importantly, there is always a chance to become a meme mogul. Participants do not need to have emotional attachment to meme coins, as thousands of meme coins appear daily, allowing people to continuously strive for opportunities and seek profits. Funds can be transferred repeatedly, allowing individuals to strive for financial freedom through small bets with high returns.

Although not everyone agrees with the meme trend, the venture capital firm a16z expressed:

Why does the market always repeat these cycles and not support truly transformative and more productive blockchain innovations?

They stated that the crypto market, always under the guise of speculation, is filled with practical tokens based on various projects and meme coins with mostly no real-world applications. The latter, as an important player in the crypto industry, often plays a leading role in some malicious events.