Author: Wyz_Research
Market fluctuations in July saw BTC and ETH, the dominant players in the market, quickly rebound after another round of price drops, completing a new short-term bottoming out.
During this rebound, we observed that various sectors in the industry showed some strength, whether it was traditional concepts like public chains, L2, Bitcoin ecosystem, Memecoins, or AI.
However, comparing the rebound of token prices across different sectors, it can be concluded that the meme sector or tokens with meme attributes showed the strongest rebound. Projects like PEPE, WIF, FLOKI, and even WEN, which have been eye-catching in this cycle, all rebounded quickly.
Forbes recently released a list of the top 10 cryptocurrencies with a market value exceeding $1 billion in the first half of 2024, including WIF, PEPE, ASI, FLOKI, JASMY, AR, CORE, TON, BGB, and BONK. Among these tokens, Memecoins occupied 4 spots, with 3 belonging to the Solana ecosystem, highlighting the trend of the symbiotic relationship between ecosystems and memes in this cycle.
In the previous cycle, the most successful aspect of the Solana ecosystem was DeFi, while Memecoins were more prevalent on BSC or Ethereum. However, in this cycle, Solana’s high-speed public chain advantage took the lead, with the founding team and key ecosystem projects focusing on memes, making memes almost as important as DeFi, or one could say that Solana’s success is closely tied to memes.
The next question to consider is the volatility of meme development, which could affect ecosystem liquidity and user enthusiasm. Investors need to find the next public chain ecosystem that can provide a conducive environment for meme growth and replicate experiences.
The answer lies with TON. So how do we find opportunities in the rules of TON and memes?
Memecoins are the king of popularity in this cycle. The meme sector began to emerge in the last cycle when BSC started to push high-speed DEX on the chain. Memecoins, with their cultural appeal and the hype surrounding cryptocurrencies, became the most eye-catching entities in the secondary market.
Although “zoo” tokens gained popularity at one point, memes have become synonymous with irresponsible behavior such as rug-pulling and massive gains or losses. As the potential of memes needs to be recognized, tokens like Doge, Shib, and People emerged, becoming projects with potential market value, strong community culture, and operations, thus expanding the meme sector.
In the current cycle, Memecoins have not only continued the trends from the previous period but have also shown more mature strategies and operational methods. Taking Solana as an example, the Solana ecosystem started in the third quarter of 2023. Unlike the previous cycle, within 2 years, Solana’s DeFi infrastructure has become very robust, with ecosystem development goals shifting from project numbers to ecosystem trading volume and activity.
At this point, the entire ecosystem seems to be focusing on memes, especially on Solana’s DEX, where a comprehensive meme coin issuance and trading process has spontaneously developed, with various liquidity sharing platforms, DEX robot market-making tools, and other mechanisms. Additionally, the Solana founder and team publicly supported certain memes, and projects like Jupiter have conducted highly popular meme coin airdrops, with subsequent meme projects following suit.
With the strong appeal of memes and Solana’s ecosystem, Solana has returned to the industry’s peak. Tokens within the ecosystem, especially meme tokens, have seen legendary returns, with most projects having high valuations. The expectations for these gains are now shifting towards the next target – TON.
In the integration of memes and ecosystems, memes have always been seen as a thermometer for ecosystem popularity. For instance, the continuous high trading volume and activity on Solana are mainly due to the fact that meme tokens can rebound strongly after temporary stabilizations of BTC and ETH, with WIF being a prime example.
Furthermore, meme creators are constantly creating new projects based on new trends, keeping the tokens in DEX active. Early meme projects that have joined the trend have seen significant gains, leading to a continuous cycle of hype and investor interest.
It can be observed that public chain ecosystems and memes complement each other, with the entire ecosystem’s attention and traffic often concentrated on a particular meme at certain times. The fame of Memecoins is a collective achievement of all roles within the public chain ecosystem, including the team, projects, and users.
At this breakthrough point, the performance of memes on TON may become more prominent in the future.
Meme projects on TON have many characteristics, but when selecting based on successful examples in the market, several main criteria can be considered.
Firstly, projects associated with the TON official team or major projects. For example, an application based on the concept of the TON founder’s pet recently launched, while the mascot-based Memecoin WEN from Jupiter has shown strong performance in terms of liquidity and price after listing.
Secondly, star projects in the open league. After the launch of Notcoin, the trading volume in the open league has consistently been high, with few projects surpassing Notcoin. Similarly, in the competition metrics of the season, tokens ranking high in growth and trading volume are considered excellent projects.
For instance, in the first open league season, besides Defi and Gamefi tokens, JETTON and Fish are typical meme representatives. JETTON takes its name from the TON token contract, giving it a native advantage in the ecosystem culture, while Fish is a well-designed meme token. Both projects have performed well since the start of the season.
JETTON has consistently achieved good rankings in all subsequent open league seasons, showing distinct price movements as the season progresses.
Lastly, the continuous emergence of new projects. In a growing ecosystem, new meme projects have advantages that older projects cannot match, and these new projects have the potential to become stars of the season rapidly. In other ecosystems, new projects are continuously pushing forward, as evidenced by the ongoing creation of memes, which continue to drive price myths.
In TON’s ecosystem, taking the current top ten projects in the ongoing fifth season as an example, projects like Notcoin, JETTON, WALL, DFC, HYDRA, and COFE have been star performers in recent open league seasons. These projects, despite being relatively new, have gained attention and support in the league, resulting in positive price movements.
Looking at the price performance, TONG, ranking third (previously second), has seen a threefold increase in the latest season. It has also contributed to the promotion of on-chain TVL and growth.
For Memecoins, projects that issue tokens through IDO and implement precise liquidity management have achieved excellent results, such as Jupiter’s WEN, the first IDO project on Jupiter. Similarly, projects like Bakerswap with tokens like IQ50 and PUMP have established allocation rules during their IDO launch, providing early liquidity support and later liquidity management.
The increasing number of meme projects continuously entering the market indicates that meme coins on TON may have a new wave of opportunities. While the volume of meme projects continues to grow, their value may not directly match that of tokens like Doge, but for Memecoins, popularity equals value, and attention equals value. Factors that contribute to increasing user purchasing power could be the best influencing factors.
For projects participating in the league, all the driving forces in the ecosystem over a short period are concentrated, enabling projects like TONG to maintain data similar to early outstanding projects like JETTON and WALL. With a good competition record, such projects may break the threshold of propagation and become high-quality memes.
In conclusion, the popularity of TON is undeniable, and for the meme sector, TON’s characteristics will allow memes on TON to start anew. Under the clear rules of the meme sector, TON serves as an excellent ecosystem, but the development of TON’s infrastructure and its synergy with memes will determine whether memes can explode on TON. The technical aspects and development tools of TON still require education and simplification for developers. However, with projects like Jetton’s token contract, DEXSTON, Dedust, TonUP, and LayerPixel, which provide middleware platforms for token operations, meme projects can be launched faster and enter the maturity stage of liquidity supply more quickly, creating more opportunities.
Therefore, if you are looking for memes on TON like you do on Solana, the methods mentioned above are viable. However, the viral spread and hype characteristics of memes must always be remembered, and under the heat of TON and the viral spread advantage of Telegram, you can find timely targets for success.
