What are the biggest memes in the crypto industry and where do they come from?
Bitcoin is a product of the internet. It was launched back in the day through a newsletter for cryptographic experts and later on, the source code was shared online. The technology behind Bitcoin, plus nowadays any cryptocurrency out there, can not exist without the internet. A stable connection is necessary in order to keep the network alive. This strong affiliation with the internet has not only brought great scaling opportunities, it has, since then turned into a widely discussed topic. As loads of people like to do when discussing topics on the internet, crypto has been the source of many new memes out there.
When Moon? When Lambo?
These are two commonly used phrases both referring to the price of the token. The phrase ‘To the moon’ came from prices suddenly spiking with hundreds of percentages causing people to draw rockets on the charts. These rockets should be leading them towards the moon, thus the phrase, when moon? It suits perfectly in combination with the phrase ‘When Lambo’, which was invented when the first crypto millionaires came around the corner. They started buying Lamborghinis with their earned wealth from investing in cryptocurrencies and people started seeing it as a means of measuring the success of a coin.
This is a simple world that leads back all the way to 2013. Back then, market crashes were caused by as ‘little’ as one million dollars. Prices went up and down like a rollercoaster, just like we’ve seen in 2017. With everyone that sells their tokens at the top of the charts, there are others who buy for these prices. The moment the prices drop, there are two options; You sell your tokens for a loss or you hold your tokens. A user on a Bitcoin forum posted a typo after a severe crash back in 2013 stating; “I AM HODLING”. This was then embraced by everyone in the industry and is now seen as one of the most used slang words in crypto.
This is the cutest of them all, doge. It’s the little dog that’s been visible in memes over the course of many, many years now. As a popular meme for years, some programmers decided to roll with it and create a ‘fun’ cryptocurrency. They took the Shiba Inu dog and took it as the symbol for their token. It has been steadily present in the industry for many years now, with a steady position in terms of market cap. But remember, 1 DOGE = 1 DOGE.
Anyone that knows their memes must have hard about the Wojak figure before. It’s that guy that’s incredibly frustrated with life, in this case, frustrated with crypto. It’s related to those who have invested in cryptocurrency heavily and foresee a crash coming in the near future. It was posted on 4Chan’s board /biz/ to display the despair caused by the price that had been dropping. Over the following months, many varieties of the Wojak-man were created. One thing they have in common; they are all pink.
Altcoin season approaching
We used to have just a couple of currencies out there, that has changed. Right now, there are over 3000 coins listed on CoinMarketCap but assumingly there are many more projects that label themselves as a cryptocurrency. With every new project, there are new investors that hope their project gets picked up and finds the eye of many potential investors. They want a new season to start, altseason. With every spike in Bitcoin, we see people screaming for altseason. There are tons of different memes out there created to display the people who sadly waiting for altseason to arrive. Whenever it does, we can see the ‘when Lambos’ coming up.
Memes are a good indicator of what’s trending in the industry. There are loads of people creating new memes every single day, but the moment you see the same meme every single day, there could be a trend starting. When everybody’s screaming for altseason, it might just be around the corner. Whether we’ll all be on the moon, we’ll drive a Lambo or we are stuck HODLING our coins, only time will tell.