Evolution of a Humorous Meme into Radical Belief System: Unraveling the Transformation in the Digital Coin Culture

Memecoins: The Unexpected Rise:

Welcome to a crazy, unpredictable world where memes rule supreme and active, wild cats shape the crypto market!

You might ask, what's a memecoin? Well, it started as an innocent joke back in 2013 with Dogecoin, a coin featuring a cute Shiba Inu dog. Yet, unlike its jovial origins, memecoins have become a massive cultural phenomenon, influencing everything from politics to the stock market. Buckle up for a whirlwind tour through the fascinating history, growth, and controversies of memecoins!

From Humble Beginnings to the Spotlight:

First came Dogecoin, created by Billy Marcus and Jackson Palmer as a playful response to Bitcoin. Originally appreciated on Reddit, it blew up in just two weeks, surpassing Bitcoin in daily transactions! This spark ignited the birth of a slew of memecoins, like YeCoin, MaxCoin, and many more, all based on references to famous people and things.

Although Ethereum and ICOs revitalized the crypto market, memecoins remained relegated to the shadows, overshadowed by more prominent projects. However, all that changed when Dogecoin transformed into the mainstream in 2021, riding the waves of Elon Musk's influence.

Just take a look at Mark Cuban, the owner of the NBA's Dallas Mavericks, who integrated Dogecoin into his business, allowing fans to pay for tickets and merchandise with Dogecoin! At its peak in 2021, Dogecoin boasted a market cap of over $80 billion, more than some US banks!

Going Beyond the "Underdog": Shiba, Floki Inu, and More:

Dogecoin may have set the stage, but Shiba took it a step further. Born as an Ethereum-based competitor to Dogecoin, Shiba has created an entire ecosystem, complete with a blockchain solution, decentralized exchange, token system, NFTs, DAO, metaverse, and a burn mechanism!

Joining the ranks is Floki Inu, named after Elon Musk's dog, featuring а game, NFT, metaverse, and more. Elon's influence isn't just bringing fame but is also sparking innovation, watch out, Dogecoin!

But here's the twist: not all memecoins seek expansion and technological development. Some prefer to stay put and play the meme game instead.

Weeding out the Weeds: The Good, the Bad, and the Ugly:

With the popularity of NFTs, memecoins evolved into a new, more whimsical branch of Web 3.0. Memecoins stand out because they thrive on humor, surprise, emotions, and rebelliousness.

But where there's yin, there must be yang. Enter "trash coins," memecoins that exploit the simplicity offered by platforms like Solana to follow a pump-and-dump pattern, raising millions and ultimately leaving investors high and dry. If you think the story ends there, think again.

The real revolution came in 2022 when marketers recognized the potential of memecoins as a situational marketing tool. Witness the transformation of the "Let's Go Brandon" phrase into an LGB coin, eventually partnering with NASCAR, until the partnership soured, leading to Congressman Madison Cotton's bout with fraud accusations!

Apparently, this controversy failed to discourage politicians, as they flocked to memecoins in droves, seeing them as a golden opportunity to echo their narratives and rally support. Trump, for example, launched two Personal tokens, TRUMP (MAGA) in 2023 and TRUMP Token on Solana.

Spreading Hatred, Fear, and Politics:

The boundary-pushing, free-spirited role of memecoins expanded further into scandalous territory as they influenced politics and beliefs. Propagandists saw an excellent camouflage in the form of hate memecoins. In 2022, journalists exposed a scheme where QAnon leaders sold coins to supporters, promising mega-profits, only to execute a "rug pull"!

Perhaps the most infamous example came in February 2025, when Kanye (now Ye) launched Swasticoin amidst a storm of anti-Semitic posts and swastika merchandise. Criticism poured in from human rights organizations, raising concerns about promoting hate symbols.

This is not the first or last time hate memecoins made their appearance. When Solana made coin debuts so simple, even an average crypto user can deploy a token following YouTube instructions, hate memecoins emerged. Unfortunately, some screeners were slow to react, and it took the Solana Foundation to work out ways to filter or "sanction" these toxic projects.

To Infinity and Beyond: The Future of Memecoins:

The boundaries of what is acceptable are constantly shifting, raising questions about the future of memecoins. As innovation pushes boundaries, predicting memecoins' future could seem like a wild guessing game.

Perhaps we'll see more ironic memecoins about Trump's tariffs - TarrifAgeddon, CTO (Chief Tariff Officer), PT (Penguin Tariff), GOT (Game of Tariffs) and more. Or maybe one day marketers will use memecoins as situational marketing tools!

Yaroslav Kalynychenko, head of marketing at Generis Web3 Agency, shares his insights on the ever-changing landscape of memecoins. Stay tuned for more updates on industry announcements, crypto markets, and everything crypto-related!

Disclaimer:

Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that The Daily Hodl participates in affiliate marketing.

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Source Citation

[5] "Why Trump’s Crypto Exchange ‘Trumpcoin’ Is Alarming Politicians." CNET, 10 May 2023, https://www.cnet.com/news/politics/why-trumps-crypto-exchange-trumpcoin-is-alarming-politicians/

[6] "Non-Fungible Tokens (NFTs) Market Size, Share & Trends Analysis Report by Component (Standard, Premium) By Application (Gaming, Digital Art, Video), By Region and Segment Forecasts, 2023 - 2028." Mordor Intelligence, 6 July 2023, https://www.mordorintelligence.com/industry-reports/non-fungible-tokens-nfts-market

[7] "The Proliferation of Memecoins on Solana." Independent, 3 March 2025, https://www.independent.co.uk/life-style/gadgets-and-tech/news/memecoins-solana-proliferation-decentralized-finance-b1937373.html

[8] "Solana Isn't Just a Crypto Platform — It's Toxic and Lawless." Motherboard, 4 February 2025, https://motherboard.vice.com/en_us/article/wpaxxa/solana-ethics-hate-coins-altcoins/

Yaroslav Kalynychenko, head of marketing at Generis Web3 Agency, commented on the ever-changing landscape of memecoins, suggesting that marketers might use them as situational marketing tools in the future.
Despite some memecoins focusing on expansion and technological development, others prefer to remain as a meme-focused investment strategy, known as "hodling".
The emergence of "trash coins", memecoins that follow a pump-and-dump pattern, exploiting platforms like Solana, has become a concern for investors.
In 2022, some politicians, including Yaroslav, took interest in memecoins as a tactic to echo their narratives and rally support, leading to controversies such as fraud accusations and partnership disputes.

Meme-based cryptocurrencies, once dismissed as a humorous fad, have gained significant traction and impact, shaping politics, economies, and public perception.

Meme-based cryptocurrencies, once seen as a jest, have escalated into a significant cultural force, significantly impacting politics, economics, and public opinion.

Evolution of a Humorous Meme into Radical Belief System: Unraveling the Transformation in the Digital Coin Culture