August 12th, 2023

O que explica o sucesso das meme coins: humor, FOMO e comunidade

A ascensão das moedas meme tem sido uma reviravolta surpreendente para muitos investidores em criptomoedas de longo prazo. Mas o que as torna tão populares?

Conversamos com especialistas em psicologia e criptografia para descobrir os prós e contras do motivo pelo qual as pessoas compram tokens com senso de humor.

Dogecoin – Como tudo começou

De fotos engraçadas de cachorros a celebridades e desenhos animados, os memes se tornaram parte integrante da cultura da internet. E, assim como qualquer outro produto da internet, as criptomoedas também estavam propensas a sucumbir às tendências.

Muitos investidores cripto de longo prazo esperavam que essas tendências desaparecessem com os memes nos quais as moedas foram inspiradas. No entanto, uma década após a criação da primeira moeda meme verdadeira – Dogecoin (DOGE), essa categoria de criptomoedas continua a florescer.

A ascensão das moedas meme

A razão número um pela qual as moedas meme ganharam popularidade é devido ao seu traço humorístico relacionado a um determinado meme da internet. A primeira moeda meme, DOGE, foi criada em 2013 como uma paródia do fenômeno da criptomoeda. E, ironicamente, decolou.

Desde então, elas têm surgido a torto e a direito, sendo que algumas das maiores são DOGE, Pepe (PEPE), uma moeda inspirada no meme Pepe the Frog, e Shiba Inu (SHIB), outra moeda meme inspirada no popular meme do cachorro Shiba Inu.

As moedas de meme são projetadas para se tornarem virais e, muitas vezes, são fortemente promovidas em plataformas de mídia social. Cria-se, então, um hype em torno de um novo projeto. O autor de NFT: From Zero to Hero, Anndy Lian, explicou que as moedas meme geralmente ganham impulso quando os membros da comunidade compram o mais novo token criado “para participar da piada”.

“Uma vez que se torna popular e aumenta de valor, os investidores de varejo às vezes entram a bordo e aumentam ainda mais a moeda. Além disso, as moedas meme são orientadas principalmente pela comunidade e podem ganhar popularidade da noite para o dia devido ao endosso da comunidade on-line e ao FOMO [medo de ficar de fora].”

Os psicólogos concordam, dizendo que um dos maiores motivos pelos quais as pessoas tendem a investir em moedas meme parece ser o FOMO.

“As meme coins frequentemente criam um senso de urgência e empolgação, causando apreensão quanto à perda de possíveis lucros. As pessoas podem ser compelidas a investir porque têm medo de ficar de fora”, disse o Dr. Ketan Parmar, psiquiatra e especialista em saúde mental, ao website Technopedia.

Marissa Moore, conselheira e terapeuta licenciada, acrescentou que a popularidade das moedas meme também pode estar ligada à prova social. Ou seja, as pessoas são influenciadas pelas ações de outras, sua associação com um senso de diversão ou entusiasmo, bem como o senso de comunidade que promove um ambiente de apoio para muitos investidores.

Embora a psicologia por trás das criptomoedas de memes seja fascinante, os investidores devem se lembrar de que esses ativos são altamente voláteis. E nunca investir dinheiro que não possam perder. Entre os novos projetos recém-listados, destacamos Thug Life, que tem todos os atributos para tornar-se um dos grandes destaques de meme coin de 2023.

Thug Life: Projeto promissor com suposto apoio de Snoop Dogg

Após uma pré-venda meteórica e extremamente bem-sucedida, Thug Life está sendo negociado na Uniswap. US$ 2.058 milhões foram arrecadados em poucos dias.

O objetivo do Thug Life é criar um movimento impulsionado pelo humor e pela solidariedade, ajudando os investidores a recuperar suas perdas passadas. Há boatos de que Snoop Dogg pode estar envolvido no projeto, o que poderia aumentar ainda mais seu valor.

Dentre os principais atrativos do $THUG, destacam-se a autodenominação como a “moeda meme dos ballers” e o apelo a “tornar-se gangsta neste mercado e elevar seu jogo de dinheiro”.

O Thug Life Token já está construindo uma forte comunidade orgânica nas redes sociais, essencial para o sucesso de qualquer moeda meme. Finalmente, $THUG é apoiado pela mesma equipe de marketing que impulsionou o token meme SpongeBob em abril, com ganhos de quase 100x.

Source: https://br.beincrypto.com/o-que-explica-o-sucesso-das-meme-coins-humor-fomo-e-comunidade/

Anndy Lian

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com

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July 29th, 2023

Psychology of Meme Coins Explained: Humor, FOMO, and More

From funny photos of dogs to celebrities and cartoons, memes have become an integral part of internet culture. And just like anything else which predominantly lives on the internet, cryptocurrencies were also prone to succumb to the trends.

The rise of meme coins has been a surprising twist for many long-term crypto investors, with many expecting the trend to die down along with the memes that the coins were inspired by. However, a decade after the first-ever true meme coin – dogecoin (DOGE) – was created, this category of cryptocurrencies continues to flourish.

This article dives into the psychology behind investing in meme coins and why people love them so much.

The Rise of Meme Coins

The number one reason as to why meme coins have gained popularity is due to their humorous streak related to a certain internet meme. The first-ever meme coin, dogecoin (DOGE), was created in 2013 as a parody of the cryptocurrency phenomenon and ironically took off.

Since then, they have been popping up left and right with some of the biggest being DOGE, pepe (PEPE), a coin inspired by the Pepe the Frog meme and shiba inu (SHIB) another meme coin inspired by the popular Shiba Inu dog meme.

Meme coins are designed to go viral and are often heavily promoted on social media platforms, creating hype around a new project. Author of NFT: From Zero to Hero, Anndy Lian, explained that meme coins often gain momentum when members of the community buy into the newest token created “in order to be in on the joke”.

“Once it gets popular and spikes in value, retail investors sometimes jump on board and further boost the coin. Additionally, meme coins are mainly community-driven and can gain popularity overnight due to online community endorsements and FOMO [fear of missing out].”

Psychologists agree, saying that one of the biggest reasons as to why people tend to invest in meme coins seems to be FOMO.

“Memecoins frequently create a sense of urgency and excitement, causing apprehension about missing out on possible profits. People may be compelled to invest because they are afraid of being left out,” Dr Ketan Parmar a psychiatrist and mental health expert told Technopedia.

Licensed counsellor and therapist Marissa Moore added that the popularity of meme coins can also be linked to social proof, or people being influenced by the actions of others, their association with a sense of fun or excitement as well as the sense of community which fosters a supportive environment for many investors.

Meme Coins and Internet Culture

David Kemmerer, the CEO and co-founder of CoinLedger said that one of the key driving points in the success or failure of a meme coin is internet culture. He added that because memes are community-driven and are heavily dependent on market sentiment they continue to drive the hype surrounding meme tokens as well.

Lian added that online platforms in the likes of Discord, Reddit, Twitter, and TikTok serve as catalysts for their viral marketing campaigns and allow meme coins to connect with a diverse range of users. In addition, humor and meme culture, two great catalysts in the success of the said cryptocurrencies, can also have a number of effects on investor behavior.

Dr Parmar noted that humor can foster innovation and novelty in the crypto space, while also reducing risk and seriousness of investing in an asset as volatile and speculative as meme cryptocurrencies.

Moore added that viral marketing and emotional connection associated with meme cryptocurrencies can also influence investor behavior.

Emotional Investing and Meme Coins

Although, with assets that are as dependent on emotions as meme cryptocurrencies, emotional investing could be a key influence in meme cryptocurrency culture.

Emotional investing is the process of making financial decisions based on one’s emotions rather than rational analysis. Dr Parmar explained that emotional investing could include heightened risk-taking, it could affect decision-making as well as amplify or dampen an investor’s confidence and motivation.

Moore noted:

“Emotions can cloud judgment and lead to impulsive decisions, such as buying or selling meme coins without considering the underlying fundamentals or risks. [It] can lead to significant gains but also exposes investors to greater losses when sentiment shifts.”

Bandwagon and Herd Mentality

Investors who tend to invest in more “traditional” cryptocurrencies, like bitcoin (BTC) are doing so to make a profit, however, when a person chooses to invest in a meme token, they could be mostly motivated by jumping on to the “bandwagon” and hype surrounding a certain asset. This makes meme coin investors higher risk-takers, while traditional crypto investors are a little more risk-averse, Kemmerer explained.

“People may invest in meme coins because they see others doing so, or because they want to fit in or avoid being left behind… Such cognitive biases can affect how people perceive and evaluate meme coins and influence their investment behavior,” Dr Parmar said.

Moore added that when investors see others profiting from meme cryptocurrencies, they may feel compelled to join “the herd, leading to increased demand and potentially inflating prices.”

The Bottom Line

Kemmerer explained that most meme coin investors tend to be very cautious when it comes to investing in the cryptocurrencies. This is due to the tokens being more of an entertainment and depending on the narrative and the community standing behind them.

Lian added:

“Meme coins are heavily community-driven tokens. Since they do not have any fundamental economic or business use case, their prices are usually influenced by social media and online sentiment. This often brings a lot of hype, but also FOMO and financial risk. Memes are a language in themselves, with a capacity to transcend cultures and construct collective identities between people. These sharable visual jokes can also be powerful tools for self-expression, connection, social influence and even political subversion. Due to the hype around meme culture, many investors are turning to digital assets in hopes of striking it rich.”

While the psychology behind why so many people chose to invest in meme cryptocurrencies is fascinating, investors should remember that these assets are highly volatile and never invest money, they can not afford to lose.

Source: https://www.techopedia.com/the-psychology-of-meme-coins-why-people-love-tokens-with-a-sense-of-humour

Anndy Lian

www.anndy.com

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October 26th, 2021

China’s Cryptocurrency Ban: Is FOMO Gradually Being Replaced by FUD?

After the People’s Bank of China (PBoC) prohibited cryptocurrency transactions and mining the price of Bitcoin and other cryptocurrencies fell as a result. In the last 12 years, China has banned cryptocurrency around a dozen times. Every time they impose a ban on crypto currencies, they instil FUD (Fear, Uncertainty, and Doubt) in the crypto community within China and abroad. Is the recent decision to impose another ban on crypto activities shifting the market’s current state from FOMO (Fear of Missing Out) to FUD (Fear, Uncertainty, and Doubt)? I would like to discuss this with the BigONE community.

China FUD vs. Crypto

Going down memory lane, China has taken several anti-crypto stances since the early days of Bitcoin following its launch in 2009. China’s Ministry of Commerce banned virtual currencies from paying for goods and services in June 2009, just a few months after the first Bitcoin transaction. The decision was reportedly made to limit the use of video game currencies, which were allegedly devaluing the Yuan at the time.

Since then, China has taken many hostile stances toward crypto activities. At first, it was stated that it was not a “real currency.” Another instance of FUD that stood out in this back and forth was false news published by Weibo in March 2014. According to reports, the “PBoC has imposed an outright ban on Bitcoin transactions”. This false news completely destabilized the market, causing thousands of traders and investors to liquidate their holdings, and Bitcoin, which was trading at around $1k at the time of the news, fell in value by half in just three months. Fast forward to 2021; China has stepped up its anti-crypto campaign in the last four months. First, regulators launched a massive crackdown on Bitcoin mining operations. The crackdown had a significant impact on the cryptocurrency scene because China housed 75% of the world’s Bitcoin miners at the time.

Then in July, it was revealed that the PBoC had shut down a tech firm that provided software services to cryptocurrency firms. The price of Bitcoin immediately dropped because of this news. Finally, on September 24th, the PBoC announced that all cryptocurrency transactions in China are illegal. As a result, the price of Bitcoin fell by more than 5%, causing traders and investors to liquidate their positions. Ironically in the US, where talk of crypto regulation from the SEC has been spreading its own FUD, the news from China could slowthe drive to clamp down on Crypto. Notably Senator Pat Toomey tweeted that, “Beijing is so hostile to economic freedom they cannot even tolerate their people participating in what is arguably the most exciting innovation in finance in decades. Economic liberty leads to faster growth, and ultimately, a higher standard of living for all.”

While this appears to be, to coin a phrase conjured by a recent Bloomberg article, a “peak FUD moment for crypto” the fact is the actual impact on Bitcoin’s value for these government actions may be over-exaggerated. As the article in Bloomberg went on to say: “The remarkable thing is that — like the proverbial “wall of worry” that never seems to hurt the stock market — growing FUD never seems to do much damage to the value of crypto assets. At least, not for long.

“Yes, Bitcoin is down 5% following China’s latest ban on all crypto transactions and vow to root out mining of digital assets, but that’s just another day in the virtual office for this volatile asset class. Bitcoin and other coins actually were hit harder earlier this week when concerns over China Evergrande Group spread throughout all manner of global markets,” the article noted.

The rise and fall of FUD

FOMO has increased in the crypto scene due to the rapid growth of Bitcoin and other cryptocurrencies in recent years. To put it simply everyone wants to profit from cryptocurrency price increases. As a result, as new users enter the crypto scene, the adoption rate rises. At the same time the emergence of cryptocurrencies has also resulted in regulatory scrutiny and crackdowns. Despite several hostile actions from China and other regulators, we’ve seen that this caused FUD but for a brief period as the cryptocurrency market always finds a way to recover. I believe that ignorance of the intrinsic value of cryptocurrencies also contributes to FUD, which is why perceptions and news coverage continues to influence the market significantly. After each crypto crackdown by regulators, you have no doubt noticed that Bitcoin often goes on a bull run following a brief price drop.

“The China news is not surprising to those of who’ve been in the cryptocurrency space for some time, and as with most FUD, I believe the decentralized crypto market and community is resilient enough to get through this. From an exchange perspective, the other side of the coin is to stay regulated and follow the rules.” Anndy Lian, Chairman of BigONE Exchange commented.

Writing in Forkast, Lily Z. King suggests an upside to all the FUD caused by the ban, will drive a significant decentralization of crypto power from China to other markets, particularly Southeast Asia. “As the economy of Southeast Asia has been heavily impacted by the Covid-19 crisis, the new inflow of crypto capital and technology might bring a much-needed boost for their digital economy. Taking the long-term perspective, this diffusion is good for the builder-type among Chinese crypto entrepreneurs and is good for the crypto movement globally,” she concluded.

Although digital currencies may survive China’s recent crackdown on cryptocurrencies, I believe correct information and knowledge about cryptocurrencies and the market are essential for long term success. Still, if news and perceptions continue to influence the market, it is difficult to predict whether FOMO will always triumph over FUD. Will the latest crackdown on cryptocurrency activities lead to another Bitcoin all-time high? The only way to find out is to wait. In the meantime, the knock-on effect in the region may end up benefiting Southeast Asia.

Original Source: https://london-post.co.uk/chinas-cryptocurrency-ban-is-fomo-gradually-being-replaced-by-fud/