MEME-like projects are fair game for anyone looking to get into cryptocurrencies or even create their own tokens. All that is required is a cryptocurrency contract and some accounts on some trading sites. Musk (Elon Musk) regularly tweets in support of Dogecoin, helping it gain legitimacy and sufficient exposure. The market value of Dogecoin soared to $70 billion before, squeezing out Ripple and securing the third position.

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But where is the value?

MEME tokens are valuable not because of any fundamentals, or having a price-to-earnings ratio or strong economic backing, MEME tokens are valuable because they are popular on social media and gain the attention of normal people (known as retail investors) focus on.

As wild and wild as it sounds, the Borderlands cheaters are also pulling out all the stops. The gameplay of the game is also very simple, I open the market, you inject capital, I harvest, and you defend your rights. The essence of the doubling game is to use the herd effect to create a "winner". This winner has multiplied hundreds of times and thousands of times in a few days, so he spends money without thinking. Just like the Monopoly game, the most profitable is still the bank.

However, all copycats actually started after the launch of SafeMoon, which used relatively "new" technology in cryptocurrencies. Most traditional cryptocurrencies like Bitcoin rely on strong algorithms that reward people"to dig"Bitcoin - use highly complex computer programs and computing power to solve a real problem. This is to create a currency with limited inflation characteristics, so we can see that the total number of bitcoins is about 20 million.

combustion"combustion"drop them.

When a user sells SafeMoon, a 10% "exit tax" will be levied, and half of the 10%, that is, 5% will be distributed equally to all holders, and the other 5% will be divided into Two copies, one is sent to the owner of the contract to increase liquidity, and the other half will be destroyed. This active deflation is a brand-new model compared to the past, so buyers will consider quitting when the increase is higher than 10%.

FairSafe, FASTMOON, MoonSoon, Moonstar, MoonTicket, NextMoon, Riskmoon, SafeBTC, SafeGalaxy, SAFEMARS, SafeOdyssey, SafePitBull, SafeRocket, SafeStonks,WenMoon’s imitation disks seem to have sprung up overnight. The collection of anonymous teams + DEX, and the means of publicity have changed from a simple burning mode to meme + subculture + rushing out of the earth to fly to Mars, etc. While the traffic surged, the account balance kept doubling and doubling, and retail investors returned to a few months before WSB defeated the Wall Street financial giants and brought down capitalism in a trance.

This type of replica mode emerges endlessly, and there are several reasons for this:

• Technically copy everything, various channels can issue coins one at a time, the cost of issuing coins is very low, and there is no support for landing projects

• Rely heavily on the establishment of community culture and the propaganda of unscrupulous media

• The herd effect created by "winners", viral promotion news overwhelming, Ponzi pyramid

• The exchange is greedy for traffic, and a large number of projects that lack review are listed on the exchange in just a few days, and the projects are directly "converted"

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After the market returns to rationality, should it start from scratch?

The week ended May 20 saw one of the biggest losses in recent months. The entire market is down more than 40% from its peak, with riskier tokens suffering even greater losses. Volatility is back on the rise, leading coins have halved, and altcoins have regained all their upside.

There wasn't a single catalyst to explain the past week's move, with the sell-off stemming from new lows in bitcoin's dominance rate, the last frenzy of MEME-like projects, and Musk's tweet that Tesla no longer accepts bitcoin as an asset due to environmental reasons. A method of payment.

At the same time, concerns about macro factors are also one of the reasons, mainly from a higher-than-expected 4.2% inflation rate, which has raised concerns about cryptocurrencies. More bad news, such as news that Binance is facing regulatory scrutiny and China’s crackdown on the Bitcoin mining industry, etc. Rome was not built in a day, but repeated artillery fire is enough to wipe it out.

The existence of Bitcoin is a group consensus that has been in place for more than ten years. Especially this year, we can see that more and more institutions are recognizing the status of Bitcoin. This is the general trend in the rolling trend.

As for what social problems Bitcoin can solve and what positive impact it can have on us, I am afraid that Satoshi Nakamoto did not think of it when he designed it. Because Bitcoin is a product of the first-generation blockchain, it is a reward for miners to help check packaged transaction information, it cannot support a vertical ecology, similarly, MEME projects cannot support it, they are all in the consensus pile A grain of sand, but the weight of Bitcoin is a little bit bigger.

Whether MEME projects will revive in the later stage, we don’t know. It is foreseeable that when the market returns to rationality, the projects with good fundamentals and valuable investment targets will rebound the fastest. The market will always leave a place for those who fear him. peace