How does meme coin rewrite the history of internet value?

Author: Neso

Original Title: The Cultural Soul of Meme Coins

Let’s clarify this from the very beginning. On one hand, memecoins - they are unconventional. Born from the collective heartbeat of internet culture. On the other hand, shitcoins - they are fleeting, speculative, and soulless. Confusing the two is not only a semantic error but also a cultural discord. Referring to tokens like $TRUMP or $LIBRA as "memecoins" is as absurd as mistaking a shadow for the moon.

"Memes spread like viruses, from one brain to another." — Richard Dawkins, The Selfish Gene (1976)

From Dawkins' foundational theory defining memes as "units of culture" to the birth of Dogecoin in 2013, meme coins have become the crystallization of the intersection of online culture and decentralized finance. However, the key is to distinguish true meme coins—those cultural products that arise from community humor, shared values, and organic spread—from shitcoins, whose sole purpose is to exploit speculative frenzy. Blurring the lines between the two is not just a semantic error; it undermines the cultural foundation of meme coins as a fascinating phenomenon. Meme coins are the stories of assets being traded, with their value being a byproduct of collective belief.

Memes are not static images or jokes: they are cultural genes that mutate and spread through human interaction. Dawkins described memes as "selfish replicators" in his 1976 metaphor, competing for dominance in the attention economy. Meme coins like DOGE or PEPE embody this evolutionary process:

A meme (such as Doge) evolves into a token, gaining financial utility while retaining its cultural DNA.

The community, as an ecosystem, amplifies memes that resonate with shared values (humor, rebellion, nostalgia).

Blockchain infrastructure accelerates replication, generating over 40,000 meme coins every day.

Unlike garbage coins that lack cultural adaptability, meme coins thrive by embedding collective memory. They also connect two eras of internet culture: Web2 and Web3.

In Web2, memes are centralized commodities. Platforms like Reddit and Twitter monetize viral content through advertisements, but creators rarely gain economic benefits from it. Memes spread through platforms like Reddit or Twitter, but their monetization is isolated (for example, platform advertising revenue rather than creator income). The rise of Dogecoin in 2013 is a case in point: its community funded charitable causes, but there was a lack of ownership over the financial value of memes.

Web3 transforms memes into self-sovereign assets, with the community monetizing its cultural labor. Memes become tradable rights, managed by decentralized communities rather than corporate algorithms. This shift is fundamentally revolutionary, as memes transition from ephemeral content to lasting cultural capital. For instance, PEPE has reclaimed the Pepe meme from Web2 appropriation, enabling holders to "own" a part of internet history.

This transformation shifts memes from fleeting content to lasting cultural assets, managed by decentralized communities rather than corporate algorithms. True meme coins follow a Darwinian trajectory:

• Birth: Memes are tokenized, often appearing in a satirical form.
• Growth: The community utilizes humor and nostalgia to build social capital.
• Maturity: Successful meme coins develop a quasi-social utility (holders invest not only for profit but also for identity).
• Heritage: Memecoins either disappear (most) or evolve into cultural symbols/folklore. For example, the persistence of Dogecoin stems from its charitable myth.

Garbage coins have bypassed this life cycle. They are financial zombies—lacking narrative, merely replicating through predatory strategies and pump-and-dump schemes. They lack cultural support, which dooms their longevity.

Meme coins effectively archive internet subcultures onto the blockchain and serve as folk legends of the 21st century. On the other hand, shitcoins lack this emotional resonance and fail to foster community loyalty. They capitalize on trends without contributing to the cultural narrative, distancing the crypto space from its countercultural roots. There is a distinction between memes and meme parasites.

The real challenge now is to maintain cultural integrity. Blurring the lines between meme coins and junk coins threatens the cultural potential of the crypto space (due to trust erosion caused by exploitative tokens, low-quality clones stifling innovation and diluting creativity, complete volatility and scams inviting stringent regulations, thereby jeopardizing creative freedom, and so on).

Let’s take a look back at history. Dogecoin was created by Billy Markus and Jackson Palmer in 2013 as a parody of Bitcoin and a tribute to the Doge meme. The whole project is filled with self-deprecating humor. However, it was this irony that helped it stand out in the increasingly serious and competitive crypto space. Within months, a loyal community (you could call it a cult) rapidly formed, funding causes such as sponsoring the Jamaican bobsled team at the 2014 Winter Olympics and raising money for clean water initiatives. These early charitable efforts revealed a community spirit that transcended speculation. According to Susan Blackmore's "The Meme Machine" (1999), the success of a meme largely depends on its ability to resonate with a shared cultural background. Meme coins achieve this by using humor as a Trojan horse; people gather around the comedic premise, but they stay because of the sense of belonging. Whether it's posting absurd memes or fundraising for quirky causes, these communities convert "attention economy" into tangible economic value. The community creates countless memes, retweets, and Discord channels that amplify cultural momentum. Digital cross-pollination occurs so rapidly that meme coins often surge in value not because of their inherent utility but due to endless humor-driven hype. Over time, if a meme resonates broadly enough (like Doge), the token can transcend its initial joke status and become a cultural symbol in its own right.

In contrast, junk coins lack any meaningful cultural foundation. They exist purely as speculative tools, with their creators leveraging viral marketing and FOMO (fear of missing out) without contributing anything truly valuable to the broader cryptocurrency or cultural ecosystem. The value of meme coins is emotional; the value of junk coins is transactional. The crypto market—especially on chains like SOL where trading is fast and cheap—could be inundated with tokens proliferating on platforms like pump.fun, like mushrooms after rain. But not all fungi are edible. As Coindesk journalist Brady Dale wrote in a 2021 article about Dogecoin imitators, "the real distinction is not in the code, but in the narrative." Junk coins lack narrative depth. They have no comedic spark, no charitable cause, and no collective sense of participation that transcends speculation. The so-called PolitiFi tokens that emerged last year (like $MAGA Coin, $BODEN, or $KAMA) exemplify how junk coins exploit culturally divisive topics (in this case, politics) to accelerate speculation. These tokens do not connect communities but weaponize political fervor for quick profits. They do not celebrate a shared inside joke but become chips in a digital casino, overshadowed by orchestrated pump-and-dump events. In 2022, journalists have already written in The New York Times, "Political brand tokens leverage real-world tensions to gain fleeting market momentum, leaving a host of disappointed investors." We have all seen how it has developed this year. A token's viral potential does not fundamentally endow it with the status of a meme coin. Meme coins leverage cultural references or collective nostalgia. Junk coins simply parasitize the same viral mechanisms while lacking a deeper story. Therefore, they will soon be eliminated.

"They are the economic flash mob," Noelle Acheson said in an interview with Decrypt (2021). "A phenomenon that disappears as quickly as it forms, leaving no lasting cultural imprint."

"Memes are the DNA of our culture. They are living, evolving codes that spread through collective imitation and recreation." —Susan Blackmore, "The Meme Machine" (1999)

Confusing meme coins with junk coins poses a real threat to the legitimacy and artistic style that true meme coins bring to the crypto space. Meme coins have traditionally been a gateway for newcomers to enter the crypto field, as they may be intimidated by more complex financial instruments. When the audience sees this space diluted by exploitative tokens lacking cultural soul, it could erode trust and enthusiasm.

Meme coins reflect the collective psyche of internet subcultures—Reddit posts, Twitter memes, Discord channels. Shitcoins have hollowed out the concept of memes, reducing it to "virality." The result is a market flooded with digital garbage that obscures the projects that truly add color to the creative tapestry. True meme coins activate internet culture and establish emotional resonance within global communities. DOGE initially succeeded because it was fun, inclusive, and reflected the light-hearted core of internet humor. Tokens like PEPE continue this tradition. Shitcoins, on the other hand, lack this community magic. They are launched by individuals who have little understanding of brand recognition (or meme references). They do not "belong" to a community but exploit it.

This is why calling a junk coin a "meme coin" is like calling a billboard slogan high art. The superficial similarities mask the vast chasm of authenticity and purpose. Meme coins are not just jokes. They are mirrors reflecting the internet culture's id. On the other hand, junk coins are distortions in a funhouse mirror—only surface, no substance. Confusing the two is a misunderstanding of both. Culture is fragile. Don’t let it fall. In the words of Richard Dawkins, memes are "units of culture." Let us respect this definition and remember the reasons we entered the crypto space: not just to make money, but to belong.