通过 SLERF 查看 MEME 轨迹

前言

As cryptocurrencies grow in popularity, an emerging MEME culture is rapidly emerging, but for many people, understanding MEME coins and the broader crypto culture may be difficult.

Since its release, the sloth-shaped token $SLERF has had a market value of nearly $600 million. It took only three hours to complete the development process that took BOME three days. Its market value once exceeded BOME and became the eighth largest Meme coin by market value.

来源： https://www.coingecko.com/en/coins/SLERF

MEME coins are eye-catching because, on the one hand, they are usually low-priced, providing a wide range of investors with opportunities to participate; on the other hand, they are humorous and entertaining, bringing investors a unique experience. Although the prospects of MEME coins are full of uncertainty, they have established their own special position in the field of cryptocurrency.

MEME

What is MEME?

MEME is a cultural element that is widely spread on the Internet, usually expressed in pictures, videos, animations, text or other forms. For example, SLERF is a MEME coin featuring a cute and lazy sloth. Memes are like units that spread cultural ideas and symbols. They continue to spread and spread in peoples consciousness. Some memes have strong communication capabilities and can exist for a long time, while some with less influence will be quickly forgotten. Today, the word MEME has become widely circulated for two main reasons: one is that MEME often has humorous, sarcastic, exaggerated or resonant characteristics, and can be quickly spread through social media, online forums, instant messaging and other channels; the other is because the popularity of the Internet and social media has made it easy for people to create, share and spread content.

MEME track data

According to Coingecko, MEME鈥檚 market cap is currently $54.7 billion, while the total cryptocurrency market cap is $1.18 trillion. The MEME token鈥檚 share of the cryptocurrency space is 1.48%.

Solana (SOL) among the top 10 memecoins achieved an incredible growth of +801.5% and a market cap of over $8.32 billion in Q1 2024. By the end of the quarter, their combined market cap had reached $9.36 billion.

Source: CoinGecko 2024 Q1 Crypto Industry Report

SLERF鈥檚 Narrative

来源： https://www.slerf.wtf

$SLERF is a MEME coin featuring a cute and lazy sloth. It has attracted widespread attention and heated discussions in the community since its birth. The whole process from its birth to death and then to resurrection is like awakening the most sleeping sloth.

On the morning of March 17, SLERF posted a fundraising tweet on Twitter. It is worth mentioning that the projects Twitter account was just created that month. In just 13 hours, SLERFs fundraising amount reached its maximum, raising more than 50,000 SOL. SLERF announced that 50% of its raised funds were used for pre-sales, and the other 50% were injected into the LP pool. This strategy is basically the same as the previous MEME project fundraising method.

On March 18, the founder of $SLERF admitted an operational error on Twitter. He accidentally destroyed the tokens reserved for airdrops in his wallet and the SOL tokens raised by the pre-sale, lost his LP and lost the right to mint. This unexpected event directly led to a sharp drop in the $SLERF token. Although the developer made a major mistake, it did not affect the popularity of the project. On the contrary, the market value exceeded US$500 million in just three hours, becoming one of the fastest growing MEME tokens. The founder maintained the popularity of the community by hosting events on Twitter Space and making self-deprecating remarks. Subsequently, $SLERF launched a rescue operation, hoping to raise US$10 million to compensate pre-sale participants. This action was supported by Justin Sun, LBank and multiple exchanges. This story of continuous reversal has brought continuous popularity to SLERF, and its ecosystem is now developing.

What makes SLERF successful?

社区

The key to SLERFs success lies in its community. An active, genuine community with a unique culture is crucial to the success of the project.

Under the combined influence of the heat of various events, SLERF attracted a lot of funds and experienced a period of dramatic ups and downs. However, when the price fell to the lowest point, the popularity of the token did not diminish. The Space hosted by the founder of SLERF attracted thousands of participants. Whats more, a fake picture of SEC set up a task force to investigate the SLERF incident was produced, linking the token with the concept of prison on the X platform.

SLERF attaches great importance to community participation and user-friendly interaction. Unlike some MEME tokens that only pursue popularity but lack substantive content, SLERF is committed to establishing effective connections with users and providing them with a smooth interactive experience.

In addition, SLERF is also unique for its innovation and development potential. With its ecosystem and dramatic MEME token development concept, SLERF has attracted different types of investors and supporters, many of whom are confident in its future development prospects.

Public chain background

Solana Chain has the soil for the development of Meme culture in terms of product features and cultural background. Thanks to the rapid increase of SOL tokens in the early stage of this bull market, Solana Chain has acquired the first batch of users in this round of MEME fever.

In addition, DEX products on Solana have many advantages in terms of speed, ease of operation, and on-chain data. Among them, Solanas transaction speed is about 1,300 TPS, and the transaction fee is about $0.0029. Solanas on-chain TVL is about $3.9 billion, and the number of daily active users is about 800,000.

来源： https://dune.com/salva/sol-token , SOL price and network activity correlation

SLERF data performance

According to Coingecko data, the token price of $SLERF reached $1.1 on the day of its launch. After the founder announced the operational error, the price of $SLERF fell sharply in a short period of time, falling to a minimum of 0.3 USDT. After attracting market attention and enthusiasm, the price of $SLERF tokens also rebounded rapidly, reaching 1.2 USDT.

来源： https://www.coingecko.com/en/coins/SLERF

According to the MVRV metric from the DUNE panel (the MVRV ratio is defined as the token market capitalization divided by the realized capitalization.

When this value is too high, the token price may be overvalued, which may indicate selling pressure. On the other hand, when this value is too low, the token price may be undervalued, which may indicate buying pressure. ), it can be seen that in the first two days of the $SLERF token launch, this value was above the moving average, and then it has been below 1, which means that the average holding cost of the entire network is a loss.

来源： https://dune.com/killer_whales_dao_levilin2008/SLERF-trading-analysis

According to DUNE data, as of May 11, 2024, the total transaction volume of $SLERF in the entire network was 6.359 B, and the total value of $SLERF destroyed was 7.058 M. The daily buying and selling volume was only at a high level two days before the token was launched, and then it has been sluggish, which may be related to the overall downward trend of the crypto market.

来源： https://dune.com/onchainmetrics/SLERF

https://dune.com/onchainmetrics/SLERF

MEME propagation mechanism from SLERF

Social Media and Community Engagement

The MEME coin project mainly relies on social media platforms such as Twitter, Reddit, and Telegram to interact directly with users, share updates, hold events, and respond to community feedback in a timely manner. This interaction increases the visibility of the project, strengthens community cohesion, and accelerates the spread of information.

Viral Marketing

MEME coins use viral marketing to promote projects at low cost and efficiently through highly contagious content, such as eye-catching slogans, interesting images or unique concepts, and quickly gain widespread attention. For example, $SLERF cleverly uses the visual element of sloths to spread quickly on social media. $SLERF further enhances the effectiveness of its viral marketing by hosting community interactive events, such as the sale of NFTs.

Leverage celebrity

Use the celebrity effect to spread MEME coins, cooperate with influential public figures, share MEME coin information on their social media platforms, and attract fans attention. Create highly interactive content, such as challenges and live broadcasts, to increase user engagement. For example, the popularity of $SLERF is mostly due to the popularity and influence of the tweets published by its founder.

Wealth Effect

MEME coin price fluctuations are accompanied by a strong wealth effect. Rising prices attract new investors into the market, driving prices up further and expanding the cultural reach of MEME coins. For example, $SLERF鈥檚 market cap exceeded $600 million in a short period of time.

Incentive Mechanism

The incentive mechanism is one of the important strategies for promoting MEME coins. The project encourages users to hold and trade tokens through airdrops, transaction burn taxes, and lucky draws, thereby increasing market activity and user stickiness and attracting more attention and discussion.

Unique concept and design

The design of the MEME coin is closely related to its concept, and its unique visual elements and cultural connotations make it stand out among many cryptocurrencies.

Innovative and easy-to-spread topics

MEME coin projects often combine innovative or viral topics to increase attention. For example, $SLERF鈥檚 unique narrative and community participation drove its success in the market.

Risks of MEME Tokens

High market volatility: The market volatility of MEME tokens exposes investors to significant financial risks. Some projects have experienced dramatic surges and plunges, and this extreme volatility is often affected by individual core figures, news, or network trends.

Over-dependence on sentiment: Many new MEME coins lack underlying technology or real use cases, causing their value to be completely dependent on market sentiment.

Market Manipulation: The concept-driven nature of MEME coins attracts some fraudsters who may deliberately create false market news to drive up the price of the coin, and then sell their holdings when the price reaches a high point, causing huge losses to investors.

Fraudulent behavior: Many MEME projects are launched by anonymous or pseudonymous developers, which makes it difficult to assess the credibility and intentions behind the tokens. There is a certain risk in pre-selling MEME projects because once a certain amount is reached, the development team may abscond with the funds.

总结

The performance of MEME coins highlights their unique position and influence in the cryptocurrency market. These coins have attracted widespread attention with their rapid rise and fall, narrative development, and community-driven characteristics. However, investors need to be extremely cautious when participating in MEME coins because they are very volatile and lack the practicality and community support of traditional cryptocurrencies. Although the future development path of MEME coins is unclear, they have undoubtedly had an impact on the crypto world and will become a unique investment field.

This article is sourced from the internet: Looking at the MEME track through SLERF

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