Memecoin 市场地图 - $120B 资产类别

在过去的一年里，Memecoin 一直是加密货币市场中表现最好的板块。如今，Memecoin 总市值已突破 1000 亿美元，超过 DeFi、DePin、游戏、元宇宙的总和。

A new market map has been created to identify opportunities within the rapidly expanding Memecoin asset class, which now boasts a total market capitalization of over $120 billion—surpassing DeFi, DePin, gaming, and the metaverse combined.

为了在快速扩张的 Memecoin 资产类别中寻找机会，我们创建了一个新的市场地图，该资产类别目前总市值超过 1200 亿美元，超过 DeFi、DePin、游戏和元宇宙的总和。

This market has seen a remarkable evolution throughout 2023, with each quarter being dominated by different Memecoins. In the first quarter, $POPCAT, $WIF, $MOG, and $MYRO led the way, followed by $PONKE, $SPX, $TURBO, $GIGA, $WOJAK, $BRETT, and $MOG in the second quarter. Finally, the third quarter saw $SPX, $GIGA, $FUD, and $MUMU emerging as the top performers.

这个市场在 2023 年经历了显着的演变，每个季度都由不同的 Memecoin 主导。第一季度，$POPCAT、$WIF、$MOG 和 $MYRO 领先，第二季度紧随其后的是 $PONKE、$SPX、$TURBO、$GIGA、$WOJAK、$BRETT 和 $MOG。最后，第三季度 $SPX、$GIGA、$FUD 和 $MUMU 成为表现最佳的股票。

When it comes to Memecoins, understanding "meta" (cultural trends and movements) is crucial for any attempt at market analysis. This factor has a much greater impact on Memecoins than on other cryptocurrency categories. To highlight some significant Meta changes and emerging trends, an extended timeline has been created:

当谈到 Memecoins 时，理解“元”（文化趋势和运动）对于任何市场分析尝试都至关重要。这个因素对 Memecoin 的影响比对其他加密货币类别的影响要大得多。为了突出一些重大的元变化和新兴趋势，创建了一个延长的时间表：

The Memecoin market was largely dominated by Doge until 2021, when Shiba Inu arrived as the first true "Doge killer." People flocked to it, hoping to replicate Doge's success. This search for the "next XX" mentality is the root of forming Meta. Shiba Inu's success spawned various dog- and Elon Musk-related Memecoins, making 2021 the first true Memecoin Meta. Then, in 2023, Pepe Coin's launch drove a surge of frog-related Memecoins and the "boys club," while Bonk and Wif coins later established Solana as the dominant chain for Memecoins, leading to pump.fun. In the first quarter of 2023, the Memecoin market erupted in a frenzy, with new Metas emerging almost weekly or even daily. After reaching a local peak in March, the market slowed slightly in the summer. However, as Bitcoin began to break out, market enthusiasm surged again, with new Metas continuously emerging, including $GOAT, $MOODENG (the cute hippo coin), and $PEANUT, among others.

Memecoin 市场主要由 Doge 主导，直到 2021 年 Shiba Inu 成为第一个真正的“Doge 杀手”。人们蜂拥而至，希望复制多吉的成功。这种寻找“下一个XX”的心态是形成Meta的根源。柴犬的成功催生了各种与狗和埃隆·马斯克相关的 Memecoin，使 2021 年成为第一个真正的 Memecoin 元。然后，在 2023 年，Pepe Coin 的推出推动了与青蛙相关的 Memecoin 和“男孩俱乐部”的激增，而 Bonk 和 Wif 硬币后来将 Solana 确立为 Memecoin 的主导链，从而导致了 Pump.fun。 2023 年第一季度，Memecoin 市场爆发了疯狂，几乎每周甚至每天都会出现新的 Meta。在三月份达到局部峰值后，夏季市场略有放缓。然而，随着比特币开始爆发，市场热情再次高涨，新的Meta不断涌现，包括$GOAT、$MOODENG（可爱河马币）、$PEANUT等。

Today, the Memecoin market is overflowing with Metas, and an attempt has been made to categorize the market.

如今，Memecoin 市场充斥着 Meta，并且有人试图对市场进行分类。

As you can see, Dogecoin still leads the Memecoin market, mainly due to Doge. A few weeks ago, when we started compiling this data, the Sentient AI category was almost nonexistent, and the Martyr category did not show significant performance (although we must respect the OG coin $Harambe). This is enough to demonstrate the rapid evolution of the Memecoin market.

正如您所看到的，Dogecoin 仍然领先 Memecoin 市场，这主要归功于 Doge。几周前，当我们开始编译这些数据时，Sentient AI 类别几乎不存在，而 Martyr 类别也没有表现出显着的表现（尽管我们必须尊重 OG 币 $Harambe）。这足以证明 Memecoin 市场的快速演变。

Unsurprisingly, Dogecoin's dominance has gradually declined since Pepe Coin's launch.

毫不奇怪，自从佩佩币推出以来，狗狗币的主导地位逐渐下降。

It seems this trend will continue, as new Metas will keep emerging, and different sectors will be pushed into the spotlight.

看来这种趋势将会持续下去，因为新的元数据将不断出现，不同的行业将被推到聚光灯下。

From the changes in market capitalization across categories, several interesting trends emerge.

从不同类别的市值变化中，出现了一些有趣的趋势。

For instance, Memecoins in the Crypto Culture category (like $bitcoin) gained some attention in 2023, especially when relatively little new capital was entering the market at that time. However, with the influx of new capital towards the end of the year, the Crypto Culture category gradually gave way to broader internet culture (like $giga, $npc, etc.).

例如，加密文化类别中的 Memecoin（如 $bitcoin）在 2023 年获得了一些关注，特别是当时进入市场的新资本相对较少。然而，随着年底新资本的涌入，加密文化类别逐渐让位于更广泛的互联网文化（如$giga、$npc等）。

As mentioned earlier, the rapid rise of $GOAT and $PEANUT is also quite surprising. While it may still be too early to categorize them into new categories, it is evident that there are many AI-related Memecoins today, with market capitalizations already reaching nine figures.

正如前面提到的，$GOAT 和 $PEANUT 的快速上涨也相当令人惊讶。虽然将它们归类为新类别可能还为时过早，但很明显，当今有许多与人工智能相关的 Memecoin，市值已达到九位数。

Additionally, earlier celebrity tokens and politically related Memecoins saw some growth, but most have gradually cooled off since then.

此外，早期的名人代币和与政治相关的 Memecoin 也出现了一些增长，但大多数从那时起就逐渐冷却下来。

Over time, Memecoins could potentially become a fractal of the entire cryptocurrency market, with Dogecoin's status akin to Bitcoin (BTC). Some "cult coins" will have loyal community support and exist long-term; however, most Memecoins may be fleeting like NFTs in 2021.

随着时间的推移，Memecoins 可能会成为整个加密货币市场的分形，狗狗币的地位类似于比特币 (BTC)。一些“邪教币”将得到忠实的社区支持并长期存在；然而，到 2021 年，大多数 Memecoin 可能会像 NFT 一样转瞬即逝。

Nevertheless, it is clear that there are significant opportunities for early entry into new Metas.

尽管如此，很明显，早期进入新元有很大的机会。

I anticipate that the fastest-growing categories in the future will be internet culture and self-aware AI. Internet culture is already widely recognized and has a rich cultural foundation, giving it a clear advantage over other categories. Self-aware AI combines the most exciting technology with the most volatile asset class, and they may continue to dominate the Memecoin market in the future.

我预计未来增长最快的类别将是网络文化和自我意识人工智能。网络文化已经得到广泛认可，具有丰富的文化基础，比其他门类具有明显的优势。自我意识人工智能将最令人兴奋的技术与最不稳定的资产类别结合在一起，它们可能会在未来继续主导 Memecoin 市场。

As for the open market space, there will always be room for new animal species—many animals are currently lacking in the market, especially some exotic ones (like tigers, giraffes, zebras, etc.). As for entirely new categories of Memecoins, existing fan cultures (like superheroes, sports, etc.) may be creatively tokenized.

至于开放的市场空间，总会有新的动物物种的空间——目前市场上缺乏许多动物，尤其是一些外来动物（如老虎、长颈鹿、斑马等）。至于全新类别的模因币，现有的粉丝文化（如超级英雄、体育等）可能会被创造性地标记化。