Tacen’s Analysis: The Appeal of Meme Coins

The longer you’ve been in crypto, the higher the odds are that you own at least some amount of meme coins. We’re well past the point where it’s possible to have never heard of meme coins before – even people who don’t own crypto have been forced to hear about the latest dog or Elon Musk related meme coin. But an increasing number of cryptocurrency holders - people who usually stick to projects like BTC, ETH, and other major coins – are picking up bags of meme coins, too.

Why is this happening?

Well, for starters we should remember that meme coins exploded in popularity because of the slight potential for massive upswings in price. Stories about meme coins pumping 10,000% in price in a matter of a week capture our imaginations; who among us haven’t opened the calculator app on our phone and ran the numbers real quick to see how rich we could’ve been?

Beyond the “pumpability” of meme coins, they also capture the fun side of crypto. Things like “ElonMusk420MarsRocketMoonshot” coin sound ridiculous – and if that’s a real project, it would be ridiculous – but it’s also plain fun. Add in the usually passionate community, the hilarious memes, and the sheer focus on the mission of pumping the price that comes with all of that, and you have a really fun time on your hands.

This is, perhaps, the biggest takeaway from what meme coins can teach us about cryptocurrency. We should remember that, while decentralized finance is a natural growth of the global financial ecosystem, it doesn’t need to be as stuffy, sterile, and boring as traditional finance has become. Decentralized finance should be fun. Being part of a cryptocurrency community should be exciting, hilarious, and provide a sense of, well, community.

Meme Coins vs Loneliness

According to a recent study, 79% of adults aged 18 to 24 report feeling lonely. That is a staggering number, and it should be eye-opening to any person looking to build a community. The time has never been better – people are hungry for belonging, companionship, and a sense of purpose.

Sure, it might seem odd that people can get these important psychological comforts from something as simple as a meme coin, but that’s where we’re at today. Cryptocurrency projects must recognize that hundreds of millions of people around the world are desperate for a sense of community. Why not help them find that community with you?

The fundamental lesson of meme coins is that community matters above everything else. Build a community, and success will naturally follow.

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