Original - Odaily

Author - Nan Zhi

At the beginning of 2021, DOGE set off the earliest wave of Meme craze named Zoo Quotes, andDOGE itself’s highest market value once reached $88.79 billion, at that time DOGE successfully broke through the circle and was widely spread on various social media, introducing a large number of new people to invest in related currencies.

On May 8 of that year, DOGE hit its highest point of 0.74 USDT. The overly hot market accumulated a large number of leveraged positions. On May 12, Bitcoin fell 12.5%, and then the famous 519 crash occurred. Bitcoins single-day amplitude was 34.8 %, down 14.44%.

The two rounds of the second-generation Meme leader SHIBs market occurred in May and the end of October 21 respectively, and the two peak times in May and November were also very close, but the circle-breaking effect was not as good as DOGE.

Recently, Meme tokens led by PEPE have occupied the exchange price list, and WIF has also landed on Robinhood and Binance. Does it indicate another market breakout and will soon reach the top of the mountain? Odaily will review social media data and Meme token trends in this article, including DOGE, SHIB, PEPE, and WIF, to explore whether the two are related and foreshadowed.

Breaking the circle of communication? Not started yet

Let’s start with the domestic social media platforms.

Weibo: In 2021, a large number of official accounts and individuals announced Web3 industry content on Weibo. Although a large number of users have migrated to the X platform, Meme coin-related content can still be updated in real time and spread to a certain extent. The content searched by PEPE is closely related to cryptocurrency, there is less content related to WIF, and most of the content is related to WiFi.

little red book: The situation on this platform is similar to Weibo. PEPE is highly relevant, butMost posts are not recent，Not many likes，This shows that it has not caused FOMO and widespread concern among outside users.. WIF also has scattered related content, with uneven time distribution, most of which are related to the WiFi entry.

immediately: The Web3 concentration of this platform is actually not inferior to that of Weibo and Xiaohongshu, but it is mainly used for formal project publicity and communication among practitioners. PEPE currently has only a handful of posts discussing its gains, while WIF has not been mentioned at all.

Social media search data review

Review the trends of DOGE and SHIB based on Baidu Index and Google Trends. Baidu Index is an absolute index, showing the search magnitude within a specific time period, while Google Trends is an absolute value, with a maximum value of 100 , showing relative trends over a specific time period.

The price and social media search data of DOGE are as follows. Google data shows that from January to mid-May, the global attention to DOGE was similar, while the domestic market paid more attention to the latter two waves. And it can be clearly seen thatOnce there are hot searches far exceeding the average on a certain day, it means that the short-term market has reached a peak.。

SHIB’s price and social media search data are as follows,The pattern is similar to DOGE. Extreme hot searches mean the market has peaked.. However, it can be seen that the domestic attention is mainly caused by the zoo market triggered by DOGE in May, and the domestic attention dropped significantly in the second round.

The price and social media search data of PEPE in the past month are as follows. Google Trends cannot be queried across months due to official settings, but it was obtained after 7 days of query.Heat levels have not changed significantly from late February. But inChina has begun to see significant deviations fromfluctuations in the mean, but the degree of deviation is not as high as the over-100-fold fluctuations that DOGE and SHIB once achieved.

The price and social media search data of WIF in the past month are as follows. There is no obvious change in domestic attention to it. It is worth noting that inMarch 5, 18:00, that is, after Binance announced the launch of WIF spot,The heat starts to soar, a PEPE-like deviation occurred.

in conclusion

To sum up, extreme hot searches for Meme tokens often mean the peak of a market. Currently, both PEPE and WIF have experienced large deviations, which means risks have begun to accumulate, but the degree is far less than that of DOGE and SHIB, and it is not obvious. If the situation of breaking the circle occurs, there may still be some potential space.