Discussing the "Meme" Phenomenon in the Crypto Assets World

The movie "All In" features elements from the Crypto Assets field, such as "coin Coin" and KOTAI coin. With the release of the movie, KOTAI coin was rapidly issued on multiple blockchains. It can be seen on a data platform that KOTAI coin has trading pairs on Ethereum, BSC, and Base chains. Among them, a decentralized exchange on the Ethereum chain has the largest liquidity. On August 5, when the movie was screened, the price of KOTAI coin skyrocketed over 3000 times, but began to decline sharply on August 8, almost falling back to the issuance price by the 19th.

KOTAI coin belongs to the "Meme coin" category. The term "Meme" was first proposed by Richard Dawkins in 1976, referring to a cultural factor that can spread on the level of human thought. On the Internet, Memes often appear in the form of images that satirize current events. This content is easy to spread and can form a cultural consensus among a wide audience.

The combination of memes and Crypto Assets began with Dogecoin in 2013. At that time, someone created Dogecoin by combining the Doge meme with a coin to satirize the hype around Crypto Assets. Although the founder left soon after, Dogecoin's price soared at the end of 2020 after receiving support from a well-known entrepreneur, reaching a peak of $0.74.

After the success of Dogecoin, many imitators appeared in the market. Early Meme coins were often based on the secondary creation of internet cultural materials, and later began to adopt grander narratives. Between 2017 and 2020, some Meme coins raised funds through ICOs and attempted to build ecosystems. In May 2021, Shiba Inu coin, which mimicked Dogecoin, exploded in popularity, and the Meme coin market was dominated by "animal-themed" coins.

Recently, the ArbDoge AI project, which combines AI with Doge, has attracted attention. The Pepe coin has become a dark horse, with a significant increase in trading volume and the number of holders. The BRC-20 tokens in the Bitcoin ecosystem have also seen the emergence of Pepe, rapidly developing by riding the coattails.

Nowadays, Meme coins often lack long-term maintenance motivation. Many projects are backed by centralized teams colluding with stakeholders to create hype. Investors are no longer concerned with the backstory, only pursuing opportunities for quick wealth. The BALD coin incident is one example, where speculation was triggered solely by rumors, and ultimately the founder withdrew liquidity.

Meme coins are closely linked to the Crypto Assets market, but in the current market environment, rational investing is the wise choice. For ordinary investors, protecting their assets and avoiding impulsive emotional investments are particularly important.