The Surge of KOTAI Coin Triggered by "All In" and the Meme Phenomenon in the Crypto World

The recently released movie "All In" features some Crypto Assets elements, among which "Ketaicoin" has rapidly gained popularity in the market since the film's release. According to a certain data platform, multiple blockchain trading pairs with the same name have appeared, mainly concentrated on Ethereum, BSC, and Base chains. A decentralized exchange on the Ethereum chain had the highest liquidity, and after the film's preview on August 5, the price of Ketaicoin surged over 3000 times within two days. However, the good times didn't last long, as the price began to decline on August 8 and had almost returned to the level on the day of issuance by the 19th.

Coins like Koinos are usually referred to as "Meme coins." The term "Meme" was first introduced by Richard Dawkins in 1976, referring to cultural elements that can spread at the level of human thought. In the internet age, Memes often appear in the form of satirical images or emoticons, conveying a certain cultural consensus.

The most famous case of the combination of memes and Crypto Assets is Dogecoin. In 2013, Jackson Palmer combined the Doge Meme with Crypto Assets to satirize the hype around Crypto Assets, creating Dogecoin. Software engineer Billy Markus then forked the Bitcoin code and issued 100 billion Dogecoins. Dogecoin quickly gained popularity through social media, and its price skyrocketed at the end of 2020 due to promotions by Tesla's CEO on social platforms.

The success of Dogecoin has sparked a large number of imitators. Early Meme coins were mostly secondary creations of internet cultural materials, such as tokens related to Pepe the Frog. Later, Meme coins began to pursue grander narratives, such as BAT (Basic Attention Token). During the bull market of 2021, animal-themed Meme coins flourished, such as Shiba Inu coin (SHIB).

The market has been sluggish recently, but there is still a small-scale craze for Meme coins. For example, ArbDoge AI, which combines AI with Dogecoin, and the popular Pepe coin. However, today's Meme coins seem to have deviated from their original cultural dissemination significance and have become more of a speculative tool.

Taking BALD on the Base chain as an example, its price skyrocketed by 450% in a short period, sparking many speculations. However, the project team subsequently withdrew a large amount of liquidity, leading to controversy. Since the teams behind Meme projects are often anonymous, it is easy to cut ties with the project, lacking the motivation for long-term maintenance.

The development of Meme coins is increasingly leaning towards short-term trends, but they will still be closely linked to the Crypto Assets market. In the current market environment, cautious investment may be wiser.