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.

彭博社最近的一份报告显示，鉴于最近的价格上涨和超过比特币（BTC）或市场上最大的山寨币的可观利润，对冲基金行业越来越被模因币行业的吸引力所吸引。

Memecoin Mania

模因币狂热

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. 

模因币对传统金融机构的吸引力的一个例子是总部位于纽波特海滩的 Stratos，该公司于 12 月推出了带有 Dogwifhat 代币的流动基金。

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. 

基于 Solana 的 memecoin Dogwifhat 以其吉祥物——一只戴着无檐小便帽的狗而闻名，成为加密世界的主要参与者，其价格上涨了 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.

据报道，这一大幅上涨帮助 Stratos 在 2024 年第一季度实现了惊人的 137% 回报，跑赢了更广泛的加密货币市场的涨幅。然而，Dogwifhat 自 3 月 31 日历史高点 (ATH) 4.83 美元以来已回撤超过 35%，目前交易价格为 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 并不是唯一一家涉足模因币的公司。其他对冲基金也在这样做。

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，据报道，资产经理 Brevan Howard 对模因币进行了“小额”投资。加密货币基金 Pantera Capital 最近强调了 memecoin 的持久力及其带来的“巨大”交易机会。

Is It Just Gambling?

这只是赌博吗？

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

尽管一些对冲基金热情高涨，但报告指出，许多加密货币参与者仍然对模因币持怀疑态度。

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. 

尝试交易 memecoin 的对冲基金 Lekker Capital 的创始人 Quinn Thompson 将当前的狂热比作传统市场上 GameStop 等股票的投机热情。

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

此外，汤普森将模因币描述为“投机的矛尖”，并强调其交易的“赌博性质”。

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. 

尽管如此，Pantera Capital 的投资组合经理 Cosmo Jiang 指出模因币的演变不仅仅是笑话，他称一些象征特定群体或信仰体系成员身份的“文化币”。

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. 

该报告指出，随着 Pump.fun 等应用程序的出现，创建和启动 memecoin 变得更加容易，这些应用程序允许用户在几分钟内铸造硬币。 Solana 和 Coinbase’s Base 等提供低交易费用的区块链已经充斥着这些代币。

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). 

鉴于这些发展，CCData 研究主管 Josh de Vos 强调了支持 memecoin 的基础设施的改善，包括流动性的增加和集中交易所 (CEX) 上先进期货市场的发展。

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

随着越来越多的对冲基金认真对待 memecoin，Stratos 的 Rennick Palley 预计这些加密资产将受到越来越多的关注。

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.

与最初围绕加密货币的怀疑论相似，Palley 认为纯模因基金可能会出现，这反映了不可替代代币 (NFT) 基金的创建。

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.

为了进一步证明这些新兴代币的兴趣和采用，根据 CoinGecko 最近进行的一项研究，memecoin 成为最赚钱的加密货币，在其顶级代币中实现了 1312.6% 的巨大平均回报。

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，市场上最大的 memecoin 狗狗币 (DOGE) 的交易价格为 0.1616 美元，在过去 7 天内上涨了 5%。它的市值为230亿美元。

Featured image from Shutterstock, chart from TradingView.com

精选图片来自 Shutterstock，图表来自 TradingView.com