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$PEPE Leads Meme Сoin Frenzy as Investors Search for the Next DOGE

$PEPE Leads Meme Сoin Frenzy as Investors Search for the Next DOGE

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Ethereum-based meme coin PEPE surged over 150% in the last week of February 2024 to lead a meme coin frenzy as fear-of-missing-out (FOMO) trading kicked in after bellwether Bitcoin (BTC) neared all-time highs.

In this article, we talk about the PEPE token price, analyze the ongoing meme coin frenzy, understand why people invest in meme coins, and ask experts how to find the “next DOGE.”

Key Takeaways

  • PEPE outperforms older rivals DOGE, SHIB, and BONK.
  • 2023-created meme coins like Solana’s WIF and Donald Trump-themed TRUMP posted outsized gains.
  • Whales began taking PEPE profits as one whale converted their position from PEPE to SHIB.
  • Social forces and attempts to find the next 100x meme coin fuel the market frenzy.
  • Crypto expert Anndy Lian shares methodology to “find the next DOGE.”
Finding the Next Dogecoin
Table of Contents

The Latest Price Analysis: PEPE Outperforms Popular DOGE and SHIB

On February 28, 2024, the PEPE crypto price rose to $0.00000362, its highest since May 2023. Pepe the Frog-inspired meme coin regained its billion-dollar market cap for the first time since its debut. Only Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk (BONK) had a higher market cap than PEPE at the time of writing.

This week, PEPE has become the top performer among the biggest meme coin names. The three dog-themed meme coins DOGE, SHIB, and BONK posted gains of 50%, 45%, and 74% in the last seven days, respectively – as of February 29, 2024 – only to be trumped by PEPE, which rose over 150% in the same period.

PEPE is a newer meme coin compared to DOGE and SHIB. PEPE debuted less than 12 months ago, in late April 2023, while DOGE is over ten years old, and SHIB came to prominence in the 2020-2021 bull cycle.

The freshness of PEPE certainly plays a part in its outperformance against the old dogs. Supporting this thesis is the explosion in the price of meme coins that debuted in 2023 and 2024.

Take Solana’s new meme coin darling, for example. Dogwifhat (WIF) is one of the hottest new cryptos in town, which has gained nearly 400% since its December 2023 debut and over 150% in the last seven days as of February 29, 2024.

Another 2023-launched meme coin that has outperformed its peers is a Donald Trump-themed crypto called MAGA (TRUMP). The TRUMP meme coin has ballooned nearly 3,000% since the start of 2024.

However, there were warning signs that PEPE price movement was getting overheated. Blockchain analytics firm Lookonchain revealed that a whale sold all of their 1.9 trillion PEPE tokens on Binance for a cool $3.49 million profit on February 29, 2024. The whale later changed his position from PEPE to SHIB – the latter has been underperforming PEPE.

 

Meme Coin Frenzy Takes Over 2024 Crypto Bull Run

In this section, we explain meme coin investing through the following points:

1. Meme Coin Degens Do Not Care About Utility or Fundamentals

For an outsider, the price movement of meme coins tends to make zero sense. Fundamental analysts are often baffled by the large sums of money invested in these crypto tokens with zero utility.

Non-crypto-natives should understand that crypto degens rarely look for utility or strong fundamentals. They want to find the next Dogecoin to possibly 10x-100x their crypto investment, well knowing the high volatility and risks involved.

 

2. Crypto Traders Seek Outperformance in Bull Markets

Battle-hardened crypto natives tend to invest in cryptocurrencies through bear markets, making them well-prepared to take hefty profits early when bull markets return. In search of market outperformance, experienced traders have shown a tendency to shift funds out of large market cap coins like BTC, which tend to lead crypto bull runs, to smaller market cap tokens that follow.

As quoted in Techopedia’s Bitcoin bull run 2024 article, crypto hedge fund Pantera Capital said in a report:

“While one of the highest sources of alpha has historically come from a perfectly timed rotation from Bitcoin into altcoins as phase 2 commences, that relationship won’t necessarily always hold true, nor is timing that rotation perfectly a reality for any trader.”

The meme coin frenzy that we are witnessing at the moment is an indicator that traders are now looking to altcoins for “alpha” as Bitcoin nears all-time highs.

3. The Importance of Social Forces in Meme Coin Investing

Social forces play an incredibly important role in driving meme coin price gains. Meme coins are inspired by internet memes, jokes, and satire. They bank on community participation, humor, and virality to attract followers and investors.

Elon Musk’s ‘comeback’ in the game could add flames to the meme coin frenzy.

 

Top meme coins like DOGE, SHIB, and PEPE have loyal followers who enjoy sparkling conversations about their beloved meme coins on social media platforms like Discord and X.

This vibrant social buzz tends to attract newcomers, many of whom end up swapping their fiat for meme coins.

Anndy Lian, an intergovernmental blockchain expert, told Techopedia: “Meme coins can create a sense of community and belonging among their fans, who often use memes and jokes to communicate and promote their favorite coins.”

“Social forces play a crucial role in meme coin investing, as they can generate demand, influence sentiment, and create network effects for these coins.”

Finding the Next Dogecoin

New meme coins may come and go, but none has been able to usurp the king of meme coins – DOGE. The Elon Musk-endorsed token is the ninth biggest crypto in the world with a market cap of over $18.64 billion. At the time of writing, Dogecoin price stood at $0.13, having returned a whopping 23,200% since its debut in December 2013, CoinMarketCap data showed.

In this section, we talk to crypto expert Anndy Lian on how to find the next DOGE.

“Investors should look at the next DOGE in a “fun” manner. Personally, I hunt for them on X (formerly known as Twitter). This is the same place where I spotted $RATS, $FLOKI, $WIF, $GROK, and many more.”

Investors should look for the following traits when evaluating the potential of meme coins:

  1. Catchy and memorable name, logo, and theme, based on a popular or trending meme.
  2. Strong and engaged community that is active on social media, sharing memes, jokes, and news about their coin.
  3. Supportive and influential network of core community/team members or celebrity endorsements (e.g., Musk and DOGE) that can boost a coin’s visibility and credibility.
  4. Clear and fair tokenomics.

The Bottom Line

Meme coin is an interesting sector to uncover. The best place to discover and analyze the social fever created by meme coins is on X. There, you will find opinions about meme coins from incredibly passionate community members as well as rational crypto traders.

However, we want to highlight that meme coins are highly volatile and risky cryptocurrencies. Most meme coin projects enjoy a short period of fame and may become irrelevant after the market loses interest in them.

 

Source: https://www.techopedia.com/pepe-leads-meme-coin-frenzy-as-investors-search-for-the-next-dogecoin

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
j j j

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

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/

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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
j j j

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

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 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
j j j