The "financial rebellion" of young Americans: betting on MEME for a comeback, the rise of cultural memes and coins.

Author: Nancy, PANews

Recently, emerging MEME coins such as RFC, House, and TROLL have rapidly gained popularity. These absurd, whimsical, and even darkly humorous meme cultures have not only become speculative tools favored by Generation Z but also embody the rebellious sentiments of young people against traditional financial systems and social rules, reflecting a unique alternative financial culture marked by the era.

The “financial rebellion” of Generation Z bets on MEME coins for a turnaround.

A recent report by The Washington Post revealed a financial trend quietly rising among young people in the United States: an increasing number of Generation Z individuals are viewing MEME coins as an alternative path to achieving the “American Dream.” With high housing prices, heavy student debt, and slow wage growth as pressing realities, traditional pathways to wealth (such as homeownership and saving for retirement) are becoming increasingly unattainable for them. This disappointment with the existing financial system is driving a grassroots rebellion for wealth. Compared to traditional financial tools, this generation is more willing to dive into the highly volatile MEME coin market, hoping to strike it rich overnight, even if it means betting a few hundred dollars.

Article citation data shows that the participation rate of young people in the cryptocurrency field in the United States is significantly higher than that of older individuals: 42% of men aged 18 to 29 have engaged in crypto activities (investing, trading, or using), while the figure for women is 17%; among those aged 50 and above, the rate is 11% for men and only 5% for women.

The report outlines the real portrait of this trend through several true cases. For example, 25-year-old Yuvia Mendoza hopes to become the next “Roaring Kitty” by creating a related token to save the struggling restaurant chain Hooters, and at one point used cryptocurrency to buy T-shirts for waitstaff, trying to “empower” the token. Despite the eventual price crash of the token, she continues to be active in the MEME coin circle, shifting to other projects in an attempt to capture potential wealth explosions.

Joe McCann, founder and CEO of the crypto hedge fund Asymmetric, pointed out that some members of Generation Z’s “financial nihilism” is pushing them into the crypto world. Burdened with high student loans and more likely to live with their parents, this generation is less inclined than previous ones to consider 401(k) retirement savings, preferring instead to bet a few hundred dollars on a MEME coin because they feel they have “no other choice.”

At the recent ETHDenver conference, 27-year-old Veronica Sutton, wearing a bright red “Make America Great Again” hat, stated that today’s “American Dream” is different from the past. After seeing her parents in long-term debt and feeling that her college education during the COVID-19 pandemic was a “waste of money,” she chose to drop out in her senior year. “I loved college and don’t regret going, but I regret the $20,000 student loan.”

Similar situations have also appeared in South Korea. The “mud spoon” class, which has long faced high housing prices, debt pressure, and employment difficulties, views MEME as an opportunity for a comeback. A recent survey report by local South Korean institutions DeSpread and CoinNess, targeting 3,108 South Korean crypto investors, shows that after the cryptocurrency market rebounds in 2024, approximately 33% of new investors entering the South Korean crypto market will be new entrants. Although most South Korean investors are not familiar with DEX, the investment proportion in MEME coins has exceeded half, largely due to the active listing of such coins by CEX (centralized exchanges). For example, major South Korean exchanges like Bithumb and Upbit have already listed popular MEME coins such as DOGE, TRUMP, PENGU, PEPE, and BONK.

Nowadays, with the boost of social media and the Trump administration’s relaxation of regulations, this form of “entertainment speculation” continues to gain traction, including Trump himself attending a dinner this month specifically for millionaires holding TRUMP MEME coins.

From satire to rebellion, the emotional financial narrative of MEME coins

In the fast-paced digital world, MEME coins carry and convey complex emotional resonance and collective ideas in a minimalist and efficient way. In the latest wave of meme trends, several popular MEME coins have quickly resonated with the emotions of Generation Z through narratives that strike a chord. These MEME coins not only showcase strong narrative tension and high community engagement but also reflect a cultural rebellion among young Americans who use crypto culture to combat systemic injustice and express their self-identity.

RFC

RFC was launched by the political satire account Retard Finder and quickly became popular due to Musk’s frequent interactions. Its narrative is rooted in the rebellious spirit of internet meme culture, encouraging users to “report” foolish statements by tagging @IfindRetards, humorously expressing skepticism towards mainstream narratives. The account’s content primarily focuses on right-wing political satire, mocking immigration policies, environmentalism, and the “woke left.” In a sense, RFC transcends mere financial assets, evolving into a digital “cultural rebellion” against mainstream media and elite discourse.

According to GMGN data, within less than two months of its launch, the market value of RFC reached nearly 150 million USD.

House

“1 House = 1 Housecoin” is the iconic slogan of the MEME coin House on Solana, focusing on the increasingly severe housing crisis worldwide, especially addressing the real dilemmas faced by contemporary young people. With soaring housing prices, stagnant income growth, and an increasingly rigid class structure, the younger generation generally feels the heavy pressure of “getting on the ladder”. House uses an absurd yet straightforward narrative to satirize the systemic injustice of the current real estate market, attracting a large number of young investors who are disappointed with the status quo and eager to express their attitudes.

According to GMGN data, as of May 6th, the market value of House reached a peak of 120 million USD within a little over a month of its launch.

TROLL

TROLL is derived from one of the most iconic memes in internet history, Trollface, which symbolizes the early internet’s spirit of freedom, chaos, and anti-authoritarianism. It was created by artist Carlos Ramirez (online alias “Whynne”) in 2008 and first appeared in his rage comic titled “Trolls”, used to satirize the behavior of internet “trolls”, becoming a classic symbol of online parody and humor. TROLL cleverly captures this retro sentiment, appealing to young users familiar with meme history and passionate about internet subcultures.

According to GMGN data, as of May 6, the market capitalization of TROLL was nearly $42 million.

neet

The term NEET originates from “Not in Education, Employment, or Training,” used to describe young people aged 16-24 who are unemployed and not engaged in education or training. In Japan, this concept has been expanded to include individuals aged 15-34 who are not working, not studying, and not seeking employment, often associated with “otaku culture” or “hikikomori.” The core narrative of $neet is a rebellion against traditional work and societal norms, transforming this social phenomenon into an ironic cultural symbol that represents a lifestyle attitude of “lying flat” or “living off parents,” resonating with some young people’s psychological sentiments under modern economic pressures.

According to GMGN data, since its launch at the end of April, the market capitalization of $neet has exceeded 21 million dollars.

DRA

DRA is also a satirical expression focused on socio-economic issues, with its narrative revolving around Decentralized Retirement Accounts. It is a sarcastic response to the traditional pension system, reflecting the younger generation’s distrust of retirement schemes in the traditional financial system, such as the 401K plan in the United States, as well as their critical sentiment towards the “pension scam.”

According to GMGN data, since its launch on May 4, DRA has reached a market cap of over $7.6 million.