Meme Coin 超級週期：與 Murad Mahmudov 的對話

每個時代都需要自己的精神領袖，表情包領域也是如此。如果上一輪推廣狗狗幣的世界首富馬斯克

Every era has its spiritual leader, and the meme field is no exception. If Musk, the world's richest man who promoted Dogecoin in the last round, is an old-school meme missionary, then Murad is a new generation of super fomo who advocates cult culture. From a few Meme coin projects in 2017, it has grown to tens of millions by 2024, and has gradually formed a huge market. At the same time, the market value of many Meme coins has exceeded billions of dollars, becoming an important part of the crypto market.

每個時代都有其精神領袖，表情包領域也不例外。如果說上一輪推廣狗狗幣的世界首富馬斯克是老派的迷因傳教士，那麼穆拉德就是新一代崇尚邪教文化的超級福莫。從2017年的幾個Meme幣項目，到2024年已經發展到數千萬個，並逐漸形成了龐大的市場。同時，許多Meme幣的市值已超過數十億美元，成為加密市場的重要組成部分。

Murad Mahmudov , as a witness and analyst of this trend, proposed the concept of "Meme coin super cycle". In his view, Meme coin is not just a pure speculative tool, but the most powerful user popularization engine in the crypto world. He deeply analyzed the key factors for the success of Meme coin and elaborated on how to promote the growth of these projects through social media and community power.

Murad Mahmudov作為這一趨勢的見證者和分析師，提出了「Meme幣超級週期」的概念。在他看來，Meme幣不僅僅是一個純粹的投機工具，而是加密世界中最強大的用戶普及引擎。他深入分析了Meme幣成功的關鍵因素，並闡述如何透過社群媒體和社群力量推動這些計畫的成長。

In this LBank Pulse Focus column, we are honored to invite Murad, a leading figure in the Meme coin field, to share his deep insights on the future of Meme coins, especially his outlook on crypto trends in 2025 and beyond. His sharing will help us deeply understand how the rise of Meme Coin will promote the global popularity of cryptocurrency and lead the future development of the market.

在本期LBank脈搏聚焦專欄中，我們很榮幸邀請到Meme幣領域的領導者Murad來分享他對Meme幣未來的深刻見解，特別是對2025年及以後加密貨幣趨勢的展望。他的分享將幫助我們深入了解Meme Coin的崛起將如何推動加密貨幣在全球的普及，並引領市場的未來發展。

LBank: Can you share with us your career journey? From studying at Princeton University, to working at Goldman Sachs, to becoming a well-known figure in the cryptocurrency field, what does it feel like?

LBank：您能跟我們分享一下您的職業歷程嗎？從在普林斯頓大學學習，到在高盛工作，再到成為加密貨幣領域的知名人物，是什麼感覺？

Murad: I am from Azerbaijan and studied in the United States and later in Beijing for a year. While in Beijing, I met the fourth employee of OKX, who introduced me to the field of cryptocurrency. After graduation, I entered the traditional financial industry, engaged in options trading in Hong Kong and commodities trading in Singapore. In 2016-2017, I started to participate in ICO, cryptocurrency and blockchain related work, and realized that Bitcoin could become the next wave of revolution. Since then, I have devoted myself to this field, including trading, investment, on-chain analysis, asset management, and now developing in the field of DeFi. In addition, I am also actively involved in Meme coin related projects.

Murad：我來自阿塞拜疆，曾在美國學習，後來在北京學習了一年。在北京期間，我遇到了OKX的第四位員工，他向我介紹了加密貨幣領域。畢業後進入傳統金融業，在香港從事選擇權交易，在新加坡從事大宗商品交易。 2016-2017年，我開始參與ICO、加密貨幣和區塊鏈相關工作，並意識到比特幣可能成為下一波革命。從那時起，我就致力於這個領域，包括交易、投資、鏈上分析、資產管理，現在在 DeFi 領域發展。此外，我還積極參與Meme幣相關專案。

LBank: You have insights into the current and 2025 “Meme Coin Super Cycle”. Can you tell us more about it?

LBank：您對目前和2025年「Meme幣超級週期」有深刻的見解。您能告訴我們更多相關資訊嗎？

Murad: The origin of Meme coins can be traced back to Dogecoin in 2013. Since then, the scale of Meme coins has continued to expand in each cycle. In 2017, there was only Dogecoin, in 2021, there were 5,000 Meme coins, and by 2024, the number of Meme coins has reached tens of millions. I believe that this trend will continue until Bitcoin becomes the universal currency of the world.

Murad：Meme幣的起源可以追溯到2013年的Dogecoin。 2017年只有狗狗幣，2021年有5000枚Meme幣，到2024年Meme幣數量已達數千萬枚。我相信這種趨勢將持續下去，直到比特幣成為世界通用貨幣。

Outside of cryptocurrencies, the main driver is continued inflation and global money supply pressures, which drive people to constantly compete, outperform their competitors, and keep moving forward. At the same time, artificial intelligence is replacing many people's jobs, and competition in various industries is becoming increasingly fierce. In addition, people are also aware that traditional communities and institutions in the real world are gradually losing influence and significance. All these factors together drive people to turn to cryptocurrencies, meme coins, and such crypto communities.

除了加密貨幣之外，主要驅動因素是持續的通貨膨脹和全球貨幣供應壓力，這促使人們不斷競爭、超越競爭對手並不斷前進。同時，人工智慧正在取代許多人的工作，各行業的競爭也日益激烈。此外，人們也意識到現實世界中的傳統社區和機構正在逐漸失去影響力和意義。所有這些因素共同促使人們轉向加密貨幣、迷因幣和此類加密社群。

From the industry's perspective, from 2015 to 2017, people could still buy high-quality projects such as ETH and BNB, which had a market value of only $30 million at the time. Now, some projects have a trading market value of up to $30 billion once they are launched. Successful crypto projects in the past have very strong core community support. The key to the formation of a core community is that ordinary people can participate early at a lower price and gain wealth as a result.

從產業角度來看，2015年到2017年，人們仍然可以買到ETH、BNB等優質項目，而當時這些項目的市值僅為3,000萬美元。現在，有些項目一旦上線，交易市值就高達300億美元。過去成功的加密項目都有非常強大的核心社群支持。核心社區形成的關鍵在於普通人能夠以較低的價格早期參與並獲得財富。

The core idea of my strategy is that 10,000 people holding $1,000 each is much better than one person holding $10 million, or 10 million people holding only $1 each. The larger the proportion of such holders in a community, the more media attention, excitement and influence it will bring. This is the key to driving the development of Meme Coin.

我的策略的核心思想是，10,000 個人每人持有 1,000 美元，比一個人持有 1,000 萬美元，或 1,000 萬人每人只持有 1 美元要好得多。社群中這類持有者的比例越大，帶來的媒體關注度、興奮度和影響力就越大。這是推動Meme Coin發展的關鍵。

LBank: What qualities do you think a successful Meme coin needs to have?

LBank：您認為成功的 Meme 幣需要具備哪些特質？

Murad: The most critical concept is "critical mass" - that is, the community has the conditions for explosive spread. For example, it has 100,000 holders, a market value of $500 million, and is gradually listed on major exchanges. I think that large-cap meme coins usually rise steadily with less downside risk, while small-cap meme coins are more risky and the probability of success may be less than 1%. In contrast, mid-cap

Murad：最關鍵的概念是「臨界質量」－即社區具備爆發性傳播的條件。例如擁有10萬持有者，市值5億美元，並逐步在各大交易所上市。我認為大盤meme幣通常會穩定上漲，下行風險較小，而小盤meme幣風險較大，成功的機率可能不到1%。相比之下，中磁碟