Meme 硬币：现代荷兰郁金香

Investopedia 将模因币定义为“以人物、个人、艺术品或其他人命名的加密货币，试图幽默、轻松，并通过承诺一个有趣的社区来吸引用户群。”

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 币是一种加密货币，以角色、个人、艺术品或其他实体命名，试图幽默、轻松，并通过承诺一个有趣的社区来吸引用户群。最古老、最受欢迎的模因币是狗狗币，它创建于 2013 年，以流行的日本柴犬 Kabosu 命名。其他模因币包括 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 是领先的加密货币市场跟踪器，显示每日交易的 meme 币的市值和交易量（以美元为单位）。截至 2024 年 10 月下旬，狗狗币仍然是顶级模因币，在所有加密货币中名列前十，但其他加密货币也紧随其后。

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数都是狗，但排名第三的是绿青蛙（佩佩）。当然，尽管名单每分钟都在变化，但猫只出现在前十名中较晚的位置。当然还有以不同的总统候选人及其政党命名的政治模因，但大多数人似乎更喜欢狗和猫，以及他们偶尔想亲吻的绿色青蛙。

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.

我个人并不投资模因币，因为它们实际上是现代的荷兰郁金香，是可以在短时间内（甚至不到一天）从英雄变成零的泡沫。这些代币没有相关的现金流，因为它们只是根据社区情绪进行交易和定价，而社区情绪可能是挑剔且受情绪驱动的。

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.

每隔几秒钟，Pump.fun 等网站就会创建一个新的模因币，任何拥有有趣的 jpeg 或 png 照片和可爱名字的人都可以发行模因币。当您阅读本文时，可能已经推出了大量模因币。其中大多数不会出售，因为它们背后没有社区。

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，更成功的模因币是邪教社区。这些模因可以在短时间内猛增数百%至数千%。在我看来，鲸鱼很可能参与了一些操纵，但模因币的成功通常取决于邪教社区是否狂热地不出售或倾销其代币来压低价格。当然，这并不是说存在辛迪加组织。事实上，这些模因中的大多数都会在某个时刻（有些在一天内，有些在一年内等）回落到零或几乎为零的值。如果您点击 Pump.fun 上许多新推出的代币，“某个时间点”可能意味着启动后几分钟或更短的时间。

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.

那么为什么人们甚至在这些模因上“浪费”时间呢？ Memecoin 关键意见领袖 (KOL) 或像 Murad Mahmudov 这样的 Meme 领域的影响者推测，由于许多人经济拮据，想要快速致富，并且并不真正了解区块链概念，如质押、区块链和其他技术概念，他们寻求数字狗、猫、青蛙和其他他们容易掌握并给他们带来乐趣的东西中的安慰和“数字社区”。如果全球有足够多的人想要这样做以快速致富，并且他们的个人动机并不真正同步（例如，他们并不都想同时出售），那么这可能会成为长期的种子。持久的模因。

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，口碑的力量也很强大。约翰尼听说表弟卢克通过投资几美元赚了几千美元，他想关注并告诉其他人。这可以迅速传播，尤其是通过社交媒体网络。不幸的是，当一个社区决定出售和丢弃这些模因时，这也可能以闪电般的速度发生。

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，在某个时候，当像 Doge 这样的模因市值达到 200 亿美元时，它就会开始拥有一个不愿出售的狂热邪教社区。这就是为什么它自 2013 年以来一直存在。

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.

由于社会共识是这些模因代币的主要粘合剂，这些代币实际上是用来用你的钱赌博的。大多数都没有贴现现金流前景，实际上是大规模投机和泡沫。对于那些只想在这个充满数字狗、猫、青蛙和其他符号的全球赌场中享受乐趣和投机的人来说，他们永远有市场。