Meme 硬幣：現代荷蘭鬱金香

Investopedia 將模因幣定義為“以人物、個人、藝術品或其他人命名的加密貨幣，試圖幽默、輕鬆，並通過承諾一個有趣的社區來吸引用戶群。”

Meme coins are a type of cryptocurrency that is named after a character, individual, artwork, or other entity in an attempt to be humorous, lighthearted, and attract a user base by promising a fun community. The oldest and most popular meme coin is Dogecoin, which was created in 2013 and is named after the popular Japanese Shiba Inu dog Kabosu. Other meme coins include Shiba Inu, Pepe, Bonk, and Dogwifhat.

Meme 幣是一種加密貨幣，以角色、個人、藝術品或其他實體命名，試圖幽默、輕鬆，並透過承諾一個有趣的社群來吸引用戶群。最古老、最受歡迎的迷因幣是狗狗幣，它創建於 2013 年，以流行的日本柴犬 Kabosu 命名。其他模因幣包括 Shiba Inu、Pepe、Bonk 和 Dogwifhat。

Coinmarketcap, a leading crypto market tracker, shows the market capitalization and volume (in USD) of meme coins being traded daily. As of late October 2024, Dogecoin is still the top meme coin and is in the Top Ten of all cryptocurrencies, but others are on its (doggie) tail.

Coinmarketcap 是領先的加密貨幣市場追蹤器，顯示每日交易的 meme 幣的市值和交易量（以美元為單位）。截至 2024 年 10 月下旬，狗狗幣仍然是頂級迷因幣，在所有加密貨幣中名列前十，但其他加密貨幣也緊隨其後。

Most of the top ten memes are dogs, but number three is a green frog (Pepe). Cats only show up later in the top ten, although the list changes every minute, of course. Then there are of course the political memes named after variations of presidential candidates and their parties, but most people seem to prefer dogs and cats, and the occasional green frog they secretly want to kiss.

排名前十的模因大多都是狗，但排名第三的是綠青蛙（佩佩）。當然，儘管名單每分鐘都在變化，但貓只出現在前十名中較晚的位置。當然還有以不同的總統候選人及其政黨命名的政治迷因，但大多數人似乎更喜歡狗和貓，以及他們偶爾想親吻的綠色青蛙。

I do not personally invest in meme coins because they are literally the modern-day Dutch tulips, the bubbles that can go from hero to zero in a short time (even in less than a day). There is no cash flow associated with these tokens because they are simply trading and priced on community sentiment, which can be finicky and emotion-driven.

我個人並不投資迷因幣，因為它們實際上是現代的荷蘭鬱金香，是可以在短時間內（甚至不到一天）從英雄變成零的泡沫。這些代幣沒有相關的現金流，因為它們只是根據社區情緒進行交易和定價，而社區情緒可能是挑剔且受情緒驅動的。

Every few seconds, a new meme coin is being created by sites like Pump.fun which allows anyone with a funny jpeg or png photo and a cute name to launch a meme coin. As you read this article, tons of meme coins have probably been launched. Most of these will not sell because they have no communities behind them.

每隔幾秒鐘，Pump.fun 等網站就會創建一個新的迷因幣，任何擁有有趣的 jpeg 或 png 照片和可愛名字的人都可以發行迷因幣。當您閱讀本文時，可能已經推出了大量模因幣。其中大多數不會出售，因為它們背後沒有社區。

The more successful meme coins are, however, cult communities. These memes can skyrocket hundreds to thousands of percent growth in a short time. Most likely, in my opinion, there is some manipulation involved by whales, but the success of a meme coin is often determined by how fanatic that cult community is in not selling or dumping their tokens to tank the price. This is not to say, of course, that there are groups out there who are syndicates. In fact, the majority of these memes will at some point (some in a day, some in a year, etc.) fall back to zero or almost zero value. “Some point” could mean a few minutes after launch, or less, if you click on many of the newly launched tokens on Pump.fun.

然而，更成功的迷因幣是邪教社區。這些迷因可以在短時間內猛增數百%至數千%。在我看來，鯨魚很可能參與了一些操縱，但迷因幣的成功通常取決於邪教社區是否狂熱地不出售或傾銷其代幣來壓低價格。當然，這並不是說有辛迪加組織存在。事實上，這些迷因中的大多數都會在某個時刻（有些在一天內，有些在一年內等）回落到零或幾乎為零的值。如果您點擊 Pump.fun 上許多新推出的代幣，「某個時間點」可能意味著啟動後幾分鐘或更短的時間。

So why do people even “waste” their time on these memes? Memecoin Key Opinion Leaders (KOL) or influencers in the meme space like Murad Mahmudov speculate that because many people are down financially, want to get rich quickly, and do not really understand blockchain concepts like staking, blockchains, and other technical concepts, they seek solace and “digital community” in digital dogs, cats, frogs, and other things that they easily grasp and give them amusement. If there are enough people globally who want to do this to get rich quickly, and their personal motivations are not really synchronized (e.g., they do not all want to sell at the same time), then that could be the seed for a long-lasting meme.

那麼為什麼人們甚至在這些迷因上「浪費」時間呢？ Memecoin 關鍵意見領袖(KOL) 或像Murad Mahmudov 這樣的Meme 領域的影響者推測，由於許多人經濟拮据，想要快速致富，並且並不真正了解區塊鏈概念，如質押、區塊鍊和其他技術概念，他們尋求數位狗、貓、青蛙和其他他們容易掌握並給他們帶來樂趣的東西中的安慰和「數位社區」。如果全球有足夠多的人想要這樣做以快速致富，並且他們的個人動機並不真正同步（例如，他們並不都想同時出售），那麼這可能會成為長期的種子。

Plus, word of mouth is powerful. Johnny hears that cousin Luke made a few thousand dollars from a few dollars invested in a meme, and wants to follow and tells others. This can quickly spread, especially with social media networks. Unfortunately, when a community decides to sell and dump these memes, that can also happen with lightning speed.

另外，口碑的力量也很強大。約翰尼聽說表弟盧克透過投資幾美元賺了幾千美元，他想關注並告訴其他人。這可以迅速傳播，尤其是透過社群媒體網路。不幸的是，當一個社區決定出售和丟棄這些迷因時，這也可能以閃電般的速度發生。

However, at some point when a meme has reached a $20 billion market cap like Doge, it begins to have a fanatic cult community who will not sell. That is why it has been around since 2013.

然而，在某個時候，當像 Doge 這樣的迷因市值達到 200 億美元時，它就會開始擁有一個不願出售的狂熱邪教社區。這就是為什麼它自 2013 年以來一直存在。

As social consensus is the main glue that these meme tokens have, these are literally for gambling with your money. Most have no discounted cash flow prospects and are really mass speculation and bubbles. For those who just want to have fun and speculate in this global casino of digital dogs, cats, frogs, and other symbols, there will always be a market for them.

由於社會共識是這些迷因代幣的主要黏合劑，這些代幣實際上是用來用你的錢賭博的。大多數都沒有貼現現金流前景，實際上是大規模投機和泡沫。對於那些只想在這個充滿數位狗、貓、青蛙和其他符號的全球賭場中享受樂趣和投機的人來說，他們永遠都有市場。