In a recent Bloomberg report, it has come to light that the hedge fund industry is increasingly drawn to the allure of the memecoin sector, given the recent price increases and substantial profits that surpass those of Bitcoin (BTC) or the largest altcoins in the market.

彭博社最近的一份報告顯示，鑑於最近的價格上漲和超過比特幣（BTC）或市場上最大的山寨幣的可觀利潤，對沖基金行業越來越被模因幣行業的吸引力所吸引。

Memecoin Mania

模因幣狂熱

One example of the appeal of memecoins to traditional finance institutions is Newport Beach-based Stratos, which launched a liquid fund with the Dogwifhat token in December. 

迷因幣對傳統金融機構的吸引力的一個例子是總部位於紐波特海灘的 Stratos，該公司於 12 月推出了帶有 Dogwifhat 代幣的流動基金。

The Solana-based memecoin Dogwifhat, known for its mascot – a beanie-wearing dog – became a major player in the crypto world, with its price increasing more than 300 times. 

以 Solana 為基礎的 memecoin Dogwifhat 以其吉祥物——一隻戴著無簷小便帽的狗而聞名，成為加密世界的主要參與者，其價格上漲了 300 多倍。

This substantial spike reportedly helped Stratos achieve a staggering 137% return in the first quarter of 2024, outperforming gains in the broader crypto market. However, Dogwifhat has since retraced more than 35% from its March 31 all-time high (ATH) of $4.83 and is currently trading at $3.09.

據報道，這一大幅上漲幫助 Stratos 在 2024 年第一季實現了驚人的 137% 回報，跑贏了更廣泛的加密貨幣市場的漲幅。然而，Dogwifhat 自 3 月 31 日歷史高點 (ATH) 4.83 美元以來已回撤超過 35%，目前交易價格為 3.09 美元。

Interestingly, Stratos is not alone in venturing into memecoins; other hedge funds are also doing so. 

有趣的是，Stratos 並不是唯一一家涉足迷因幣的公司。其他對沖基金也在這樣做。

Asset manager Brevan Howard, for instance, has reportedly made a “tiny” investment in memecoins. Pantera Capital, a crypto fund, recently emphasized the staying power of memecoins and the “enormous” trading opportunities they present. 

例如，據報道，資產經理 Brevan Howard 對模因幣進行了「小額」投資。加密貨幣基金 Pantera Capital 最近強調了 memecoin 的持久力及其帶來的「巨大」交易機會。

Is It Just Gambling?

這只是賭博嗎？

Despite the enthusiasm from some hedge funds, the report notes that many crypto participants remain skeptical of memecoins. 

儘管一些對沖基金熱情高漲，但報告指出，許多加密貨幣參與者仍然對迷因幣持懷疑態度。

Quinn Thompson, the founder of Lekker Capital, a hedge fund experimenting with trading memecoins, likened the current frenzy to the speculative fervor seen in traditional markets with stocks like GameStop. 

嘗試交易 memecoin 的對沖基金 Lekker Capital 的創始人 Quinn Thompson 將當前的狂熱比作傳統市場上 GameStop 等股票的投機熱情。

In addition, Thompson described memecoins as the “tip of the spear for speculation” and emphasized the “gambling-like” nature of their trading.

此外，湯普森將模因幣描述為“投機的矛尖”，並強調其交易的“賭博性質”。

Still, Cosmo Jiang, a portfolio manager at Pantera Capital, noted the evolution of memecoins beyond mere jokes, calling some “culture coins” that symbolize membership in a particular group or belief system. 

儘管如此，Pantera Capital 的投資組合經理 Cosmo Jiang 指出模因幣的演變不僅僅是笑話，他稱一些象徵特定群體或信仰體系成員身份的「文化幣」。

The report notes that the ease of creating and launching memecoins has increased with the availability of apps like Pump.fun, which allow users to mint coins in minutes. Blockchains like Solana and Coinbase’s Base, which offer low trading fees, have been flooded with these tokens. 

該報告指出，隨著 Pump.fun 等應用程式的出現，創建和啟動 memecoin 變得更加容易，這些應用程式允許用戶在幾分鐘內鑄造硬幣。 Solana 和 Coinbase’s Base 等提供低交易費用的區塊鏈已經充斥著這些代幣。

In light of these developments, Josh de Vos, research lead at CCData, highlighted the improved infrastructure supporting memecoins, including increased liquidity and the development of advanced futures markets on centralized exchanges (CEX). 

鑑於這些發展，CCData 研究主管 Josh de Vos 強調了支持 memecoin 的基礎設施的改善，包括流動性的增加和集中交易所 (CEX) 上先進期貨市場的發展。

As more hedge funds take memecoins seriously, Rennick Palley of Stratos anticipates a growing focus on these crypto assets. 

隨著越來越多的對沖基金認真對待 memecoin，Stratos 的 Rennick Palley 預計這些加密資產將受到越來越多的關注。

Drawing parallels to the initial skepticism surrounding cryptocurrencies, Palley suggests that meme-only funds may emerge, mirroring the creation of non-fungible token (NFT) funds.

與最初圍繞加密貨幣的懷疑論相似，Palley 認為純模因基金可能會出現，這反映了不可替代代幣 (NFT) 基金的創建。

To further demonstrate the interest and adoption of these emerging tokens, in the first quarter of 2024, memecoins emerged as the most profitable crypto narrative, delivering massive average returns of 1312.6% across its top tokens, according to a recent study conducted by CoinGecko.

為了進一步證明這些新興代幣的興趣和採用，根據 CoinGecko 最近進行的一項研究，memecoin 成為最賺錢的加密貨幣，在其頂級代幣中實現了 1312.6% 的巨大平均回報。

Currently, the largest memecoin on the market, Dogecoin (DOGE), is trading at $0.1616, up 5% in the last seven days. It has a market cap of $23 billion. 

目前，市場上最大的 memecoin 狗狗幣 (DOGE) 的交易價格為 0.1,616 美元，在過去 7 天內上漲了 5%。它的市值為230億美元。

Featured image from Shutterstock, chart from TradingView.com

精選圖片來自 Shutterstock，圖表來自 TradingView.com