One of the magic weapons for winning in the bull market: Make good use of MEME

Original author: MATTI

Translated by: Deep Tide TechFlow

During the past bull market, meme coins, especially Doge, emerged as a true type of cryptocurrency. However, it's not just meme coins that are affected by meme premium. In fact, every successful token is affected by it. I even believe that every product packaged in a brand contains meme premium.

Doge's spiritual father

Meme premium is a phenomenon where people assign a higher monetary value to an idea for the following reasons:

1. See that others also value an idea.

2. Looking forward to more people paying attention to this idea.

The meme premium is an ongoing imitation beauty contest. It is a pure form of speculation that existed before humans knew what financial speculation was. As Plato told us through Durant:

People quickly tire of what they have and crave what they don't have. They rarely desire anything unless it belongs to someone else.

In a world dominated by social media, speculation has become a new form of consumption. Serious things have become entertainment, and entertainment has become serious. We use political pollution to entertain ourselves, turning wars or inflation into spectacles to be watched. Cryptocurrency is part of this cultural shift.

In the previous cycle, Degen of cryptocurrency was depicted as the dark and edgy side of the crypto world, but it achieved that cycle. NFT small pictures, Meme coins, and Ponzi schemes for profits became entertainment. Even the collapse and scapegoating of Three Arrows Capital, Do Kwon, and SBF were spread, and everyone seemed to consume these contents with a sense of enjoyment.

When the most "serious" crypto investors talk about crypto infrastructure SaaS, the crypto Degen has already grown and developed. I believe we are in the most spectacular Degen phase in crypto history. We are going twice as crazy, whether it's Meme coins, SocialFi, GameFi, or re-staking.

Compared to the previous cycle, the premium of memes is more implicit, but in this cycle it will become completely explicit. Cryptocurrencies will become more Degen than ever before. This may mean that you don't have to buy Doge to invest in memes. You can buy any coin, because the truth is out there - every coin is a meme coin.

(3,3) Analysis

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Previously, I stated that, apart from the brand and subsequent customer demand, there is no fundamental basis for Coca-Cola's stock. I proposed that trading cryptocurrency is a form of consumption, much like drinking sugary beverages. Coca-Cola's stock is merely a sticky Lollapalooza (RIP Charlie Munger).

Charlie Munger is not a loyal fan of cryptocurrency, referring to it as "cryptoshit" and "cryptocrapo". Although his infinite wisdom will be deeply missed by people, his outdated views on what can be bought and sold are not so memorable. Anyway, I believe that if Munger were in his 20s or 30s, there would be a chapter on meme premium in his "Poor Charlie's Almanack".

I just propose to use these experimental constructs worth trillions of dollars today to correct some outdated wisdom. Their scale may be small and the chances of individual success may be slim, but they are growing. Instead of rejecting them normatively, cynics should try to understand them better. After all, technology is the foundation of social development, and vice versa.

Let's strive to understand cryptocurrency as a consumer product, rather than opposing its consumption in a regulated manner. Capitalism is driven by the market, and the market is driven by consumption.

Speculation is also a form of consumption. Every brand in the world relies on meme premium. The (3,3) narrative that dominated OlympusDAO in 2021 clearly expresses the concept of meme premium.

This is where we find ourselves on the curve of cryptocurrency adoption: the transition from memes for the sake of memes to practical memes (aka SocialFi). I hope we can all agree at this point that our tokens are largely dependent on meme premiums - and there's nothing wrong with that.

During this cycle, memes will be directly monetized, reducing the demand for investing in meme coins. As a coordination tool, pricing them is a social game. If we see the value of foolish meme coins shift towards smaller coordination experiments with "infinite" upward potential, I wouldn't be surprised.

Our DeFi summer equivalent may be a meme summer wrapped in SocialFi narrative (currently, the Blast season seems to be a Sherwood point). Instead of investing in an overplayed single meme like Doge and its derivatives, people may participate in various purposeful games.

After all, money is a coordination game, and price is a signal. The (3,3) of OlympusDAO showcases a meme with everything: GameFi, SocialFi, and a serious attempt at utility. It is a true meme coin, even more important than Doge. Because if you only see a meme coin as a meme coin, the power of this idiotic crowd is destined to be short-lived.

Learning how to price Meme has always been the alchemy of finance. This is different for the era of market wizards and Meme. From the invention of derivatives to Meme coins, finance has been constantly evolving because the market has spread to the boundless digital world.

To fully utilize the power of encryption means understanding reflexivity, not in the form of price increases or decreases, but in the form of price transforming fundamentals. The world can change with market fluctuations. Meme premium is a potential energy that can be transformed into momentum.

The late 2020s and 2030s may be the golden age of meme-value oriented crypto hedge funds, which embrace the reflexivity inherent in digital assets. Cryptocurrencies may have been in denial for a while, but only by accepting their true nature can we maximize their true value.

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