Recent astronomical gains in meme tokens like Shiba Inu or Floki simultaneously frustrate and entertain those who dabble in cryptocurrency.
To be fair, cryptocurrency is all about storytelling, starting with Bitcoin. Altcoins valuations are usually justified by storytelling as well. Here are some popular crypto specific memes:
- privacy coins/chains — Blockchains which claim to allow anonymous transactions.
- layer 1s (brand new blockchains where the token is used as the utility token for transactions) — specifically that layer 1’s achieve $1B Marketcaps with a successful mainnet release
- NFTs — exchange, creation, utility via embedding other cryptos in the NFT.
- Defi coins with valuations compared to the total amount of capital locked in the protocol (for example the token is worth $1M, but the capital locked in the protocol is $12M. So the ratio of the Total Value Locked (TVL) to Market Cap of the token is 12,
- Utility coins — which unlock or provide some service for a platform.
- anonymous v. doxxed team
- Audits
- Venture Capital Supported coins
- Enterprise business
- Supply Chain
