WOO X Research: Can Memes Save Public Chains? Quick Look at APT Meme Issuance Platform emojicoin.fun
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WOO X Research: Can Memes Save Public Chains? Quick Look at APT Meme Issuance Platform emojicoin.fun
Both using the Move language, SUI and APT have vastly different fates.
Navigating Web3 tides with focused insightsIt is widely known that both SUI and APT are new public blockchains built using the Move programming language. Since Grayscale announced the launch of its Sui cryptocurrency fund on August 7, SUI has surged continuously, breaking new all-time highs with an increase of approximately ninefold.
Within the SUI ecosystem, top-tier decentralized exchange token $CETUS and leading meme coin $HIPPO have both been listed on Binance, drawing significant market attention. Meanwhile, APTOS—also part of the Move ecosystem—experienced a surge in early November due to the viral popularity of the "APT song," but recently failed to sustain momentum and has since entered a consolidation phase.
In terms of ecosystem projects, Thala—the largest DEX by trading volume on Aptos—was attacked on November 16, resulting in the theft of $25 million worth of assets.
Despite sharing the same Move language foundation, APTOS and SUI have experienced vastly different trajectories. Can APTOS take a shortcut to catch up and achieve a delayed rally? Let's explore this together with WOO X Research.
Reference: https://www.youtube.com/watch?v=ekr2nIex040
emojicoin.fun: Not as Meme-y as It Seems
Pump Fun exploded in popularity since May this year, becoming one of the most profitable projects on-chain, inspiring numerous copycat platforms. Riding the meme wave, APTOS launched its own meme coin issuance platform—emojicoin.fun.
emojicoin.fun was developed by Econia Labs, the same team behind the decentralized orderbook project Econia, while operational responsibilities are handled by infranomicon.net.
The Aptos official Twitter account also promoted emojicoin.fun’s mainnet launch, indirectly confirming official endorsement of the platform.
Unlike Pump Fun, emojicoin.fun—as its name suggests—is dedicated exclusively to emoji-based meme coins rather than text strings. Although users can combine up to 10 characters to form emojis, this implies that the total number of tokens issued on the platform is not infinite but capped.
This creates two key implications:
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Inability to capitalize on trending events: The essence of meme coins lies in viral propagation, where most narratives stem from Web2 viral phenomena spreading into Web3. For example, “Chill Guy,” which went viral on TikTok and reached a $300 million market cap within three days, would be difficult to replicate on this platform due to the lack of corresponding emojis—what crypto users often refer to as “no angle, can’t buy.”
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Limited selection leads to concentrated attention: The constraint of using only emojis means market focus will cluster around a few well-known symbols. The upward momentum for these coins does not stem from true “meme” virality but rather from capital spillover within the Aptos ecosystem, effectively making them proxies for APT beta.
Reference: emojicoin.fun
Platform Projects
Sorted by Market Cap
😂
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Market Cap: ~$9.3 million
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24H Trading Volume: ~$7.76 million
♾️
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Market Cap: ~$842,000
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24H Trading Volume: ~$2.44 million
🐸
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Market Cap: ~$624,000
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24H Trading Volume: ~$2.31 million
Notably, on November 20, the Aptos official account retweeted a post originally shared on August 17 titled “Forever Aptos,” accompanied by Batman and bat emojis 🦇. Immediately afterward, the associated token spiked sharply before crashing back down.
🦇
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Market Cap: ~$30,393
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24H Trading Volume: ~$870,000
Conclusion: One Rally Solves All Worries
As discussed above, the nature of tokens on emojicoin.fun is closely tied to the Aptos ecosystem rather than genuine meme narratives. Therefore, for the platform to thrive, the following conditions must be met:
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APT Token Appreciation: Liquidity flows typically move from easier-to-access assets to harder ones—similar to how growth in a layer-1 token spills over into ecosystem projects, enabling smaller-cap ecosystem tokens to achieve substantial gains. The same logic applies here: the first step for emojicoin.fun to gain traction is creating demand, which requires APT to rise first so that the narrative can continue.
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Wealth Effect from Platform Tokens: Meme coins thrive on the wealth effect to attract continuous investment. If top-tier coins fail to sustain price increases, other meme projects become even more vulnerable. Currently, the largest token on the platform (🐶) has a market cap of less than $10 million. To draw user interest, the platform needs at least one token reaching a $100 million market cap.
Given the current lack of active participants in the APTOS ecosystem, the most viable path forward may involve explicit or implicit support from the official team to drive price action. Most people believe only after they see. Without a compelling “meme angle” and absent any real wealth effect, it will remain challenging to attract users to the platform.
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