Given the current situation, I now identify myself as a MEME...
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Given the current situation, I now identify myself as a MEME...
MEME is rapidly reshaping investor behavior and market ecosystems through the amplification effect of social media and emotional resonance within communities.
Navigating Web3 tides with focused insightsBy Nancy, PANews
"Given the current market conditions, we now acknowledge LTC as a MEME coin." After Litecoin—the veteran mining-based cryptocurrency—made this statement, it quickly sparked a wave of meme-driven marketing across the industry, with numerous institutions and projects jumping on the trend.
The tongue-in-cheek move by Litecoin and other crypto projects to label themselves as MEMEs actually highlights a broader phenomenon in today’s crypto market: many projects that once relied on complex technical jargon as their main selling point have, after being largely forgotten, effectively become a different form of MEME.
Is Litecoin Going Full MEME? Self-Deprecating Tweet Sparks Market Frenzy
"Bitcoin is gold, Litecoin is silver"—this slogan was once widely repeated in the industry and symbolized Litecoin’s former status. However, during this bull market cycle, while Bitcoin continues to hit new highs, Litecoin has failed to keep pace. Unexpectedly, after humorously branding itself a MEME coin, Litecoin saw a short-term price boost and regained public attention and relevance.
On November 15, Litecoin’s official X account posted: "Given the current market conditions, we now acknowledge LTC as a MEME coin." The tweet not only provided a brief price lift but also triggered widespread discussion and engagement. In the comments section, users and projects from the community began offering suggestions, spawning multiple new MEME coins.
DOGE, the flagship MEME coin, even designed an official MEME mascot for Litecoin. Greg, a网红 closely associated with Elon Musk and widely regarded as DOGE’s new "CEO," named the character "LESTER."
The LESTER character quickly spread throughout the community. According to DEX Screener data, LESTER reached a peak market cap of nearly $100 million within less than a day of launch, demonstrating strong market enthusiasm.
Meanwhile, various projects, institutions, and influencers—including Polygon, Yearn.finance, TRON DAO, Manta Network, IoTeX, OKX Wallet, Renzo, and Franklin—began mimicking Litecoin’s tweet format and joining the joke.
Notably, Coinbase also joined the interaction, with the community designing a MEME avatar for it that received official recognition, generating notable market interest.
Behind the Rise of MEME Culture: Traditional Crypto Projects Seek Breakthroughs
Meme culture—loaded with humorous labels and compelling narratives—is profoundly reshaping the rules of the crypto market. Despite lacking substantial technological innovation, these assets rapidly increase in value through social media hype, community-driven momentum, and amplified network effects.
According to CoinGecko, as of November 15, the total market cap of MEME coins exceeded $140 billion. In the past 24 hours, among the top 20 most traded assets in the crypto market, excluding major assets like Bitcoin and Ethereum and stablecoins like USDT, seven were MEME coins—indicating that MEME projects are capturing significant market liquidity.
Moreover, data from CryptoRank shows that among the top-performing narrative sectors since the beginning of the year, MEME coins have significantly outperformed RWA and AI-related assets. Even PolitiFi assets—which have performed strongly—are essentially politically themed MEMEs.
With Elon Musk—crypto’s ultimate meme influencer—back in action driving sharp rallies in DOGE and Pnut, and platforms like U.S. brokerage Robinhood listing PEPE, the MEME sector is gaining even more visibility and participation. Musk recently endorsed the idea that "MEMEs will dominate the next four years."
Moonshot, a platform specializing in MEME coin trading, recently reported record fiat inflows, signaling a surge of non-crypto-native users entering the space. Top trader Eugene believes DOGE’s recent breakout suggests all other MEME coins will see proportionally higher market caps. What was once seen as a $1 billion valuation ceiling is now just the starting point. KOL Murad bluntly stated that millennials and Gen Z can’t afford homes, so they’re turning to MEME coins instead—and he predicts the market is currently in the early stage of a MEME supercycle, which could give rise to 7–8 "digital tribes" each worth over $20 billion.
In stark contrast, many crypto projects that once gained fame through technological innovation and ambitious roadmaps have fallen into obscurity amid cooling markets and intensified competition. Worse still, numerous projects face mounting selling pressure from token unlock schedules, as early investors and VCs dump large holdings—driving prices down and eroding investor confidence. With capital flight and dwindling user liquidity, sustainable development for these projects is becoming increasingly difficult. In many ways, these once-promising ventures are gradually becoming nothing more than technically wrapped MEMEs.
Undeniably, MEMEs—amplified by social media and fueled by emotional resonance within communities—are rapidly reshaping investor behavior and the market landscape. The self-deprecating tweets from Litecoin and others reflect a harsh truth: relying solely on technological innovation and long-term vision is no longer enough to ensure sustained growth in the crypto space.
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