The sixth episode of HTX's new series "Dialogue with HTX Partners" recently aired, featuring a panel of crypto KOLs including OxLeon, Goku Cool, DaDa, Vito, and Tk. The discussion centered on the theme of wealth creation effects, comparing TON to other chains and debating who the true king of the meme coin ecosystem is in this bull market, with a particular focus on the investment prospects of Dogecoin (DOGE).
Key Perspectives on the Meme Chain Ecosystem
When discussing which chain holds the crown for meme coins, OxLeon compared the meme ecosystems on Solana, Base, and TON. He pointed out that Solana's meme ecosystem far surpasses others in terms of community activity, capital depth, and market maker participation. Base's meme ecosystem was noted as being relatively inactive. From an ecological development standpoint, TON is still in its early stages, offering potential benefits for early participants. The TON Foundation is expected to focus on DeFi and meme sectors in the future, leveraging its unique advantages to create localized products.
DaDa provided a multidimensional analysis of the issue. In his view, if we're talking about individual tokens, Dogecoin (DOGE) is undoubtedly the king of meme coins, as it started the entire meme era. From a chain perspective, Solana is the current leader in meme coins for this bull market. However, from a developmental standpoint, both Base and TON ecosystems are rapidly emerging.
DaDa expressed more optimism about TON's potential. The reason lies in the close relationship between the TON ecosystem and the Telegram ecosystem, which he believes will give rise to numerous promising or long-term oriented meme coins.
Tk emphasized that each ecosystem has its own unique characteristics and different ecosystems showcase different features. True meme coin breakthrough isn't just about price increases but should also consider cultural, technological, and social recognition aspects.
Vito, who entered the crypto market in late 2016 and has experience across various sectors, analyzed that at the chain level, Solana is undoubtedly the current meme king. However, various meme projects each have their distinctive features, which are largely related to their underlying infrastructure. Vito revealed that he's currently more focused on the BSC community, appreciating its steady and grounded community culture.
Dogecoin's Market Performance and Investment Analysis
Dogecoin's market performance has attracted widespread attention and discussion, particularly influenced by the US presidential election. Despite Elon Musk's frequent endorsements on social media, DOGE's price hasn't experienced the explosive growth some expected.
Regarding this phenomenon, 0xLeon pointed out that around the election period, Dogecoin as a hot market token had already experienced significant price increases. From a trend perspective, after the election concluded, market trading activity decreased, with Dogecoin showing relatively anti-fall characteristics. Meanwhile, other popular tokens like Solana have shown relatively weak performance over the past week. In the current market environment, newer tokens are more likely to generate market movements, while blue-chip tokens like Dogecoin are more suitable for large capital investments.
Tk analyzed Dogecoin's performance from a market capitalization perspective. He mentioned that DOGE started rising from around $0.10 in October and has since increased four to five times. With Dogecoin's current market capitalization reaching $60 billion—equivalent to Lululemon's 2024 market cap—this represents substantial growth from an investment perspective.
Vito also acknowledged Dogecoin's performance, noting that in this bull market, few tokens have matched Bitcoin's growth rate, but Dogecoin has managed to do so. It's currently in a normal market adjustment phase and shouldn't be evaluated using the same logic as small-cap tokens.
Goku Cool provided data from a miner's perspective, mentioning that miners can mine both Dogecoin and Litecoin simultaneously, with returns approximately ten times higher. When Dogecoin was around $0.40, many people were queuing to purchase Dogecoin mining machines. He observed that even traditional capital has shown strong interest in Dogecoin. With its current market capitalization exceeding $60 billion, Dogecoin still has enormous growth potential.
DaDa suggested that meme investing requires distinguishing between established meme coins and newer "shitcoins." The latter follows a "play new, not old" strategy, while proven tokens like Dogecoin are suitable for long-term attention and investment.
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Frequently Asked Questions
What makes Dogecoin different from other meme coins?
Dogecoin holds the distinction of starting the entire meme coin movement and has maintained significant community support and market capitalization over years of market cycles. Unlike newer meme tokens, DOGE has established itself as a blue-chip cryptocurrency with recognized value and stability.
Which blockchain currently leads in meme coin activity?
Solana currently demonstrates the most active meme coin ecosystem in terms of community engagement, trading volume, and market maker participation. However, emerging ecosystems like TON are gaining traction due to their integration with popular platforms like Telegram.
Is Dogecoin still a good investment despite its large market cap?
Many analysts believe Dogecoin still has growth potential despite its substantial market capitalization. Its ability to match Bitcoin's growth in the current bull market, combined with ongoing development and institutional interest, suggests continued relevance in the crypto space.
How does TON's ecosystem differ from other chains for meme coins?
TON benefits from its close integration with Telegram's massive user base, potentially enabling more seamless adoption of meme coins and crypto applications. This native integration could lead to more sustainable projects rather than purely speculative tokens.
What should investors consider when choosing between established meme coins and newer tokens?
Established coins like DOGE offer relative stability and proven staying power, while newer tokens may present higher growth potential but with significantly increased risk. Investors should balance their portfolio according to risk tolerance and investment timeframe.
How important is community culture in meme coin ecosystems?
Community culture plays a crucial role in meme coin sustainability. Chains like BSC have developed steady, grounded communities, while others prioritize different values. The long-term success of meme projects often depends on maintaining engaged communities beyond mere speculation.