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Cryptocurrency has always been a realm of rebellion and experimentation. Memecoins, whether you love them or hate them, perfectly embody this spirit. Their appeal lies not in groundbreaking technology, but in their playful engagement with internet culture and shared humor.

Memecoins such as Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and Bonk (BONK) have become a form of "people's money," allowing users to satirize the financial system and established digital assets.

Crowd Psychology: FOMO and the Meme Market

The crypto market of 2025 demonstrated a peculiar truth: the more absurd a memecoin's concept, the more attractive it becomes to investors. This defies logic, but that's precisely the point.

Even following the LIBRA debacle, the memecoin market capitalization exceeded $63 billion, with meme tokens generating $5.45 billion in volume within 24 hours (as of February 24, 2025). These projects often revolve around the most outlandish themes imaginable – from buttocks to flatulence (sometimes involving unicorns), and even celebrity pets. And the remarkable aspect? These strategies work.

The secret? Memecoins don't just sell tokens; they sell a sense of belonging.

Memecoins aren't about technology or utility; they're about participation in the meme itself. And nothing fuels Fear Of Missing Out (FOMO) like witnessing an absurd idea go viral and transform ordinary individuals into millionaires.

Social media platforms like Twitter, Reddit, and Discord amplify this hype, creating a self-fulfilling prophecy. The more people engage, share, and discuss a memecoin, the more valuable it becomes. It's irrational, absurd, yet undeniably effective – because within the memecoin ecosystem, the joke is the utility, and the community is the value.

Cult Memecoins and Their Recipe for Success

The history of memecoins stretches back to 2013 with Dogecoin, initially a joke that evolved into a widely accepted internet currency. Elon Musk's endorsement significantly propelled Dogecoin's success, transforming it into a cultural phenomenon with a market cap exceeding $33 billion and acceptance at numerous retailers worldwide.

Following Dogecoin's success, SHIB launched in August 2020, aiming to become the "Dogecoin Killer." While it didn't dethrone the original, SHIB cultivated a dedicated fanbase fueled by community hype, exchange listings, and one of crypto's highest all-time ROIs (1,438,500% as of February 24, 2025).

Bonk arrived in December 2022, Solana's contribution to the memecoin frenzy. Capitalizing on Solana's resurgence after the FTX collapse, Bonk eschewed complex whitepapers and revolutionary technology, focusing purely on meme energy – a strategy that proved surprisingly effective in revitalizing an entire ecosystem.

Pepe, launched in April 2023, leveraged viral marketing and internet culture. Despite lacking a roadmap, utility, or concrete promises, its success stemmed entirely from its association with a widely recognized internet meme.

Then there's BUTTCOIN (), a memecoin designed to satirize Bitcoin (BTC) and the broader cryptocurrency landscape. Ironically, it aspires to become "the next Bitcoin." Despite its unserious nature, its price surged following its January 30, 2025 launch. Even after the LIBRA scandal, BUTTCOIN boasts a YTD ROI of 1,316%.

The irony is undeniable: the more people ridicule these memecoins, the more attention they attract, and the more their value increases.

How Memecoins Cultivate Loyal Communities

Memecoins are more than just tokens; they represent social movements injecting humor and speculation into the crypto world.

At their core lie communities actively sharing viral content and often developing a cult-like following. Without the SHIB Army or Pepe holders, these billion-dollar memecoins would remain largely unknown.

Memecoins also gamify token ownership through humor and inside jokes. Analyzing whitepapers or complex tokenomics is unnecessary; the approach is simply to "ape in."

BUTTCOIN, for example, thrives on its humorous premise, engaging even crypto skeptics. And the notion that a meme from 2013 is obsolete is clearly false, considering its nearly 200,000-member Reddit community.

The Future of Memecoins: Bubble or New Culture?

Memecoins are here to stay. Despite setbacks like the LIBRA scandal, their humor, simplicity, and strong communities continue to attract users. In the crypto world, ideas often outweigh technology, and memecoins demonstrate that hype and humor can indeed generate value.

The question isn't their survival, but rather which memecoin will emerge as the next big thing. Even without tangible utility, memecoins have secured a place in internet culture, challenging norms and uniting communities. In a market driven by attention, memecoins are masters of the game – and that's why they're here to stay.

Author: Sofia Bobrik

Sofia Bobrik is a global PR strategist and the founder and CEO of TechWaves PR, a leading agency specializing in technology, blockchain, and finance. With over seven years of experience in international tech communications, digital marketing, and brand strategy, she has assisted numerous companies in expanding their global reach.