TROLL leads the way, meme season is coming again, a red flag for the market?

Vitalik concept is a thousand times better in three days, and the Musk troll is far ahead.

Written by: Loopy Lu, Odaily Planet Daily

Recently, with the launch of ETF, the upward trend of BTC has temporarily come to an end.

As the market has been turbulent in recent days, the meme craze led by TROLL has once again started the myth of wealth creation.

Among the several meme coins that have attracted much attention, we can see the obvious concept of celebrity.

Musk Concept: Is it time for trolls to kill dogs?

During the last bull market, Dogecoin, which Musk took the lead in calling for orders, became a wealth-making myth pursued by countless people. This week, the rapid rise of TROLL (originally meaning troll, also meaning troll in the Internet context) has made some investors very interested in trolls. This token has high hopes from the community and is looking forward to its future. Become the new generation of Dogecoin.

On January 9, Musk changed the X account profile to “(CTO) Chief Troll Officer”, which is “Chief Troll Officer”.

This playful title seems to have no meaning. But as the “King of Dogs” in the encryption market, Musk’s every move is enough to trigger a new meme. After Musk modified the information, multiple meme coins named TROLL were born.

In the end, a TROLL coin with a contract ending number of eb3a became the winner among the tokens of the same name. The coin rose rapidly on the troll concept.

What’s even more interesting is that the rise of TROLL is due to a combination of circumstances. The token was not a Musk concept meme coin that came into being recently, but was deployed as early as April 2023. Before Musk became Chief Troll Officer, the price of the token had already fallen 98% from its peak. This is a veritable “return to zero coin”.

TROLL Trend: Before Musk took office as “Troll Officer”

After Musk took office as the “Troll Officer”, TROLL’s rapid rise triggered people’s FOMO. On the day off last week, TROLL had a market capitalization of only about $1 million. After experiencing a weekend of surge, TROLL’s current liquidity reaches US$2.2 million, and its market value has reached US$85 million.

After just one weekend, the price of TROLL has increased approximately 7 times.

This is not the first meme coin to become popular based on Musk’s concept in recent days.

On January 10, X user Tim Urban posted an X post evaluating the airline industry. In the post, he quoted United Airlines CEO Scott Kirby.

Musk jokingly commented under this post, “Kirby is the CEO.” This also made Kirby a popular meme concept in a short period of time.

For a time, Kabicoin also became a popular meme. GeckoTerminal data shows that the largest card, Bitcoin, has completed its growth from 0 to a market value of US$3.37 million in 6 days.

V-God: meme coin hard rubbing innovative concept

In addition to Musk, Buterin is another major source of inspiration for meme coins.

This weekend, an earlier concept of Zuzalu by Buterin regained the attention of the community.

The Zuzalu co-living experiment is a unique and groundbreaking project of social innovation and community-driven progress. The project was initiated by V God and carried out in Montenegro. Zuzalu is a makeshift city-like community where about 200 people have lived together for about two months. Participants include a wide range of individuals including students, professionals and leaders in various fields, while they also provide financial assistance to those in need.

Zuzalu offers a decentralized lived experience, with impromptu conversations and breakout workshops driving the pace of the event. It is a gathering place for intellectuals and innovators in areas such as cryptocurrency, artificial intelligence, governance, and decentralized science. The community fostered at Zuzalu is not only diverse in nationality, but also focused on areas such as biotech innovation and network state philosophy.

As a decentralized community, Zuzalu itself does not seem to have caused widespread discussion in the crypto world. But after the meme craze started this week, the concept of Zuzalu was quickly recognized by the crypto community, and a number of meme tokens were born.

Zuzalu Inu is the one that stands out the most. This token was born in March 2023.

GeckoTerminal data shows that before January 14, its price was only US$0.000008 per coin, and it has risen to a maximum of US$0.012 in recent days, with a maximum increase of 1,500 times. Even at current prices, the increase is still more than 1,000 times.

In front of the throne of memes, will there be a bloody battlefield?

In addition to the above-mentioned memes, the Silly Dragon concept coin of Solana co-founder has also received widespread attention from the community. Many meme coins are flying in the sky in this round of market conditions, vying for the throne of the meme king under the leadership of their respective celebrity “spokesmen”.

Memes exist every year, but they are never the same

At present, the market has fully entered the meme mania season. Blockchaincenter.net’s Shanzhai Season Index shows that the current Shanzhai Season Index is as high as 76. The metric shows that 75% of the top 50 altcoins have outperformed Bitcoin over the past 90 days.

TradingView data shows that Bitcoin’s current total crypto market share is 47.56%, which has continued to decline in the past week.

The question now causing investor anxiety is, how long can this situation last? Chasing highs or hunting new ones?

However, if we look at it with the approach of “carving a boat for a sword”, the scene of flying copycats is often a dangerous signal for the entire encryption market based on historical experience. The more important question may be: Is the popularity of copycats the beginning of a new round of Bitcoin’s rise, or the prelude to the next round of collapse? Odaily Planet Daily would like to remind investors that investors should pay attention to the risks of highly volatile currencies, and always pay attention to changes in their news and on-chain data, and beware of being trapped.