MEME 币：机遇还是风险？社区共识和阴暗面

y

The term "meme" refers to a cultural concept or element that spreads rapidly through the internet via dissemination and imitation. Memes do not have a single carrier and can manifest in various forms, including images, GIFs, videos, or text, spreading widely on social media platforms. In some cases, the abstract meaning conveyed by memes can transcend language and cultural barriers, reaching a global audience.

“模因”一词是指通过传播和模仿通过互联网快速传播的文化概念或元素。模因没有单一载体，可以以多种形式表现，包括图像、GIF、视频或文本，在社交媒体平台上广泛传播。在某些情况下，模因传达的抽象含义可以超越语言和文化障碍，到达全球受众。

The meaning of a meme is not fixed or exclusive, making it highly adaptable and variable. Different concrete memes may carry varying meanings in diverse contexts, time periods, or environments. Individuals can also add their own content or modify certain elements to create new memes based on existing ones.

模因的含义不是固定的或排他性的，因此具有很强的适应性和可变性。不同的具体模因在不同的背景、时间段或环境中可能具有不同的含义。个人还可以添加自己的内容或修改某些元素，以根据现有内容创建新的模因。

A meme coin, also known as a meme token or meme coin, is a cryptocurrency that is inspired by or themed around an internet meme. Meme coins combine the abstract essence of memes with blockchain technology, ultimately creating a new form of virtual asset.

模因币，也称为模因代币或模因币，是一种受互联网模因启发或以互联网模因为主题的加密货币。 Meme币将meme的抽象本质与区块链技术相结合，最终创造出一种新形式的虚拟资产。

The origins of meme coins can be traced back to Dogecoin, which was launched in 2013 by software engineers Billy Markus and Jackson Palmer. The meme coin was inspired by the then-popular Kabosu Shiba Inu dog meme (also known as the "doge" meme). Initially intended to poke fun at the cryptocurrency market's speculative nature, Dogecoin quickly gained favor within the community, becoming the first widely recognized meme coin.

Meme 币的起源可以追溯到狗狗币，它是由软件工程师 Billy Markus 和 Jackson Palmer 于 2013 年推出的。该模因币的灵感来自于当时流行的 Kabosu Shiba Inu 狗模因（也称为“doge”模因）。狗狗币最初是为了嘲笑加密货币市场的投机性质，但很快就在社区中获得了青睐，成为第一个得到广泛认可的模因币。

Unlike traditional cryptocurrencies, meme coins generally do not have any inherent value at the outset. While common cryptocurrencies typically feature clear technical innovations or use cases, such as Bitcoin's decentralized currency system or Ethereum's smart contract platform, meme coins often lack these attributes. Instead, their value foundation lies more in the enthusiasm of the community, the influence of social media, and overall market sentiment. Meme coins frequently have minimal technical support or clear application scenarios, and their value tends to fluctuate drastically, influenced largely by "hype" within the market.

与传统的加密货币不同，模因币通常从一开始就没有任何内在价值。虽然常见的加密货币通常具有明确的技术创新或用例，例如比特币的去中心化货币系统或以太坊的智能合约平台，但模因币通常缺乏这些属性。相反，它们的价值基础更多在于社区的热情、社交媒体的影响力以及整体市场情绪。 Meme币往往技术支持很少，应用场景也很明确，其价值往往会大幅波动，很大程度上受到市场内“炒作”的影响。

Currently, Dogecoin ($DOGE) has attained a market valuation in the tens of billions of dollars. With the continuous emergence and spread of various meme coins, meme coins have collectively transformed into a vast ecosystem within the cryptocurrency market that cannot be overlooked.

目前，狗狗币（$DOGE）的市场估值已达到数百亿美元。随着各种meme币的不断出现和传播，meme币已经集体转变为加密货币市场中不可忽视的庞大生态系统。

When examining the narratives surrounding meme coins, we encounter a spectrum of possibilities, ranging from satire and protest to manipulation and monopoly tactics. On one end, meme coins can serve as tools for collective expression and activism within the crypto community.

当研究围绕模因硬币的叙述时，我们遇到了一系列可能性，从讽刺和抗议到操纵和垄断策略。一方面，模因币可以作为加密社区内集体表达和激进主义的工具。

During the US presidential election, a renowned squirrel sparked a wave of discourse within the meme narrative: The New York State Department of Environmental Conservation (DEC) breached a private residence without a search warrant and forcibly captured and euthanized a beloved squirrel named Peanut. This incident ignited a firestorm on social media, ultimately leading to the creation of the meme coin $Pnut.

在美国总统大选期间，一只著名的松鼠在表情包叙事中引发了一波讨论：纽约州环境保护部 (DEC) 在没有搜查令的情况下闯入一处私人住宅，强行捕获并安乐死了一只名为 Peanut 的心爱松鼠。这一事件在社交媒体上引发了轩然大波，最终导致了模因币 $Pnut 的诞生。

Through meme coins, the MEME community transforms the actions of individual government agencies into narratives within the crypto market, essentially satirizing and protesting the improper conduct of those in power. In this case, $Pnut has become a symbol—a virtual embodiment of the fight against corruption and tyranny. Under this premise, community consensus has emerged as the primary driving force behind the growth of meme coin value. Like a flame, it ignites the emotions of investors, inspiring them to rally behind a shared cause. At the time of writing, $Pnut's market value has soared to an impressive $1.1 billion. At this juncture, $Pnut as a meme coin transcends the realm of mere investment; it carries the aspirations of investors for justice and freedom, ultimately becoming a manifestation of culture.

通过模因币，MEME 社区将各个政府机构的行为转化为加密市场内的叙事，本质上是讽刺和抗议当权者的不当行为。在这种情况下，$Pnut 已经成为一种象征——反腐败和暴政的虚拟体现。在此前提下，社区共识已成为 meme 币价值增长的主要推动力。它就像火焰一样点燃投资者的情绪，激励他们团结起来支持共同的事业。截至撰写本文时，$Pnut 的市值已飙升至令人印象深刻的 11 亿美元。在这个时刻，$Pnut 作为一种模因币超越了单纯投资的领域；它承载着投资者对正义和自由的渴望，最终成为文化的体现。

However, on the other end of the crypto market, the same narrative techniques are manipulated by those harboring ill intentions. On May 24, 2024, the passing of Kabosu, the canine prototype for $DOGE, evoked a wave of nostalgia within the crypto community. Following this event, another Shiba Inu named ねいろ (English translation: Neiro) rose to prominence, seemingly embodying the continuation and spiritual inheritance within meme coin culture. Yet, concealed beneath this superficial "sentiment" lay a meticulously crafted scheme to exploit investors.

然而，在加密货币市场的另一端，同样的叙事技巧却被那些心怀恶意的人所操纵。 2024 年 5 月 24 日，$DOGE 的犬类原型 Kabosu 去世，在加密社区内引发了一波怀旧浪潮。继此事件之后，另一只柴犬“ねいろ”（英译：Neiro）声名鹊起，似乎体现了米姆币文化的延续和精神传承。然而，在这种肤浅的“情绪”之下，却隐藏着一个精心策划的剥削投资者的计划。

On October 19, 2024, individuals within the crypto industry revealed that the lowercase $Neiro was backed by a massive "rat warehouse" team that had managed to acquire over 80% of the token supply. This team employed various tactics to win over key opinion leaders (KOLs) and market makers, swiftly driving up the price of the currency. Subsequently, they sold off their holdings at a high price, ultimately draining the funds of investors who had become deeply entangled in the "Neiro" narrative.

2024 年 10 月 19 日，加密行业内的人士透露，小写的 $Neiro 得到了一个庞大的“老鼠仓库”团队的支持，该团队已成功获得了超过 80% 的代币供应量。该团队采用各种策略拉拢意见领袖（KOL）和做市商，迅速推高币价。随后，他们高价抛售所持股份，最终耗尽了深陷“内罗”叙事的投资者的资金。

While community consensus has propelled $Pnut to become a highly spiritually symbolic meme coin, the lowercase $Neiro team has exploited investors through capital operations, albeit using a similar narrative technique. Investors are often drawn to the "feelings" and "beliefs" embodied in the meme coin narrative, but it can be challenging to discern whether the true value lies in the convergence of collective power or the manipulation of interest groups operating in the shadows.

虽然社区共识推动 $Pnut 成为一种具有高度精神象征意义的模因币，但小写的 $Neiro 团队却通过资本运作来剥削投资者，尽管使用了类似的叙事技巧。投资者常常被模因币叙述中体现的“感受”和“信仰”所吸引，但要辨别真正的价值是在于集体力量的融合还是在暗中运作的利益集团的操纵，可能具有挑战性。