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Meme Coin Strategies that Will Work for You
Nazar Didyk
07.08.2024
3 Min Read
Memecoins are opening new opportunities for your fundamental, long-term project. All you have to do is consider the opportunity. Would you?
While fundamentally strong crypto projects often overpromise and underdeliver, meme coins like dogwifhat or Pepe are growing on transparency of pure speculation. This article explores how fundamentally strong projects can borrow growth and communication tactics from recent meme coins.
$PEPE, $WIF, $BEER, and other memes have recently soared in popularity and value despite offering purely cultural and speculative value. Even so, they overshadowed the rest of the market, which seems to be in the overall bearish market sentiment.
How did we get here?
Meme Coins: The New Wave of Honest Speculation
Unlike many tech-driven projects that hide behind buzzwords and lofty promises, meme coins are straightforward about their intentions. This honesty has resonated with retail. People want to gamble and have more transparency.
- Polymarket is a great indicator, IMO
It is the world’s largest prediction market built on blockchain. Here, you can put your money where your mouth is on politics, sports, crypto, culture, and almost anything (even gamble on Will Obama go on the All-In Podcast?). All transactions are done using crypto.
And the crypto community loved it! Just look at the stats:
But such betting is not that fun. You can’t “join the community”, get asymmetrical opportunities, and feel seen or be a part of something bigger. That’s exactly where meme coins come in.
- dogwifhat is another indicator of retail wants and needs
It has gained massive traction by leveraging Solana’s narrative with humorous and relatable social media and real-world campaigns. $WIF multiplied while the rest of the market was bleeding in a bear market.
What is the value of $WIF, and would anyone buy it? Well, it’s an adorable dog with a knitted hat. How can you not buy this? Oh, the hat was on the Wall Street Bull as well.
It is kind of a hot potato, for sure. But we won’t touch the very speculative tactics used by these projects. Trust the process.
- PEPE is pretty much similar to $WIF
But here, founders leveraged the internet meme symbol — Pepe Frog. Pepe is an eternal meme persona that followed Web3 development for years and was put onchain only recently.
Using the mascot, the team created a viral, community-driven and somewhat cultural project. While on the less hot Ethereum chain, it holds the most meme volume traded there to this day.
Here is the growth trajectory comparison of Pepe and one of the strongest DeFi coins $UNI over the last year. Pepe got that growth, while UNI showed a slower, more downside-volatile growth pattern.
- • “So your “real” projects offer much less financial opportunity than memes?”
- • “Why support your projects, when I can be a part of a cultural community and win a Rolex?”
Such retail concerns are what you need to address as a marketer. Marketing is about learning your customers’ pains and fixing them, isn’t it?
Let’s get back to the basics and cover what got that meme this far. And how you can get there, too.
Learning from Meme Coins: Key Tactics for Growth and Communication
Don’t blame them for “stealing liquidity” or “damaging the space”. Learn, adapt, and become better. By doing, not by saying. Here are some basic strategies that you should consider:
1
Transparency and Realistic Promises
Embrace transparency by setting realistic goals and communicating potential risks.
Example: A project focusing on decentralized finance (DeFi) could outline achievable milestones and provide regular updates on progress.
2
Community Engagement and Building Trust
Build a real community by engaging with users through social media, forums, and events. Avoid alienating your community at all costs by listening and speaking the same language.
Example: Hosting AMAs (Ask Me Anything) sessions to answer questions and gather feedback from the community.
3
Leveraging Viral Marketing
Utilize up-to-date marketing strategies to create buzz and attract attention.
Example: Launching creative and humorous campaigns that resonate with the target audience.
4
Give the Value Back To the Community
Lose the onboarding friction by integrating valuable community rewards into your funnel.
Example: Quests, themed giveaways, etc. are an easy way to engage with your audience.
Key Takeaways
Embracing honesty, setting realistic goals, giving back, and engaging actively with the community can build trust and ensure sustainable growth, no matter your project’s focus. Do it, build better things, and we will help you with it.
Book a consultation with Solus Agency, experts in navigating the dynamic world of Web3 marketing. Let’s build a transparent, engaging, and growth-driven strategy together.
Memecoins
Communications
Growth
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