Back to Basics: Don't Confuse Memecoin with Shitcoin

Original Article Title: "Getting Back to Basics: Distinguishing Between Memecoin and Shitcoin"

Original Article Author: Mannay

Original Article Translation: Azuma, Odaily Planet Daily

Let's get straight to the point: memecoin and shitcoin are two entirely different things.

memecoin—free-spirited, born out of internet culture's collective resonance;

shitcoin—ephemeral, speculative, devoid of soul;

Confusing the two is not just a semantic error but also a cultural dissonance. Calling tokens like TRUMP or LIBRA memecoins is akin to mistaking the shadow for the moon.

"Memes propagate from one brain to another like a virus"—Richard Dawkins, *The Selfish Gene* (1976)

From Dawkins defining meme as a "cultural unit" to DOGE's birth in 2013, memecoin has become the intersection of internet culture and decentralized finance. The key now is to distinguish those true memecoins—products of community humor, shared values, and organic propagation—from shitcoins designed to capitalize on speculative fervor. Mixing the two is not merely a semantic mistake; it undermines the cultural foundation that makes memecoin so alluring. Memecoin is a tradable asset of a story, with its value being merely a byproduct of collective faith.

A meme is not a static image or joke: they are cultural genes that mutate and spread through human interaction. Dawkins' 1976 analogy described memes as "selfish replicators," vying for dominance in the attention economy. Memecoins like DOGE or PEPE also reflect this evolutionary process:

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

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

The blockchain infrastructure has accelerated the replication process, giving birth to over 40,000 memecoins per day.

Unlike shitcoins lacking cultural adaptability, memecoins thrive by embedding collective memory. They also bridge two eras of internet culture: Web2 and Web3.

In Web2, memes were a centralized commodity. Platforms like Reddit and Twitter monetized viral content through ads, but creators rarely benefited economically. The meme spread through platforms like Reddit or Twitter, but its monetization process was siloed—such as the platform taking the ad revenue instead of the creator. DOGE's rise in 2013 is an example; its community funded charities but lacked ownership of meme's financial value.

Web3 transforms memes into assets of self-sovereignty, where communities monetize their cultural labor. Memes have also become tradable "equity," governed by decentralized communities rather than company algorithms. This shift is revolutionary as memes have evolved from transient content to enduring cultural capital. For example, PEPE reclaimed the Pepe-themed meme from Web2's appropriation, allowing holders to "own" a part of internet history.

True memecoins follow a Darwinian development trajectory:

· Birth: A meme gets tokenized, usually as a form of satire;

· Growth: The community uses humor and nostalgia to build social capital;

· Maturity: Successful memecoins develop quasi-social use cases (holders invest not just for profit but for identity);

· Legacy: Memecoins either fade away (most) or evolve into cultural symbols/community legends. For instance, DOGE's longevity stems from its charitable myth.

Shitcoins circumvent this lifecycle. They are financial zombies—lacking narrative, only harvesting through predatory tactics and pump-and-dump schemes. They lack cultural support, dooming their lifecycle to brevity.

Memecoins actually archive internet subculture onto the blockchain, serving as 21st-century folklore. In contrast, shitcoins lack this emotional resonance, failing to generate community loyalty. They capitalize on trends without contributing to cultural narratives, detaching cryptocurrencies from their "countercultural" roots. They are parasites of memes, fundamentally distinct from memes.

The current true challenge is to maintain cultural integrity. The conflation of memecoin and shitcoin has threatened the cultural foundation of cryptocurrency—exploitative tokens erode trust, low-quality replicas stifle innovation and dilute creativity, volatility and scams attract strict regulations, thus jeopardizing creative freedom…

Let's take a trip down memory lane. DOGE was created by Billy Markus and Jackson Palmer in 2013, initially as a parody of Bitcoin and a tribute to the Doge meme theme. The entire project was filled with self-deprecating humor. However, it was precisely this irony that helped it stand out in an increasingly serious and competitive crypto space. Within a few months, a loyal community (some might call it a "cult") quickly emerged, providing sponsorship for the Jamaican bobsled team at the 2014 Winter Olympics and supporting initiatives such as clean water projects. These early charitable efforts revealed a sense of community spirit beyond speculation.

Susan Blackmore wrote in "The Meme Machine" (1999) that the success of a meme largely depends on its ability to resonate with a shared cultural background. Memecoin achieved this by using humor as a Trojan horse; people gathered around humor, but they stayed for a sense of belonging. Whether posting absurd memes or fundraising for quirky causes, these communities transformed the "attention economy" into tangible economic value. Community interactions, activities, and creations amplified cultural momentum, and digital cross-pollination occurred so rapidly that the surge in memecoin value was often not due to intrinsic utility, but rather to endless humor-driven growth. Over time, if a meme can resonate widely (like DOGE), the token can transcend its initial joke and become an independent cultural symbol.

In contrast, shitcoins lack any meaningful cultural foundation. They exist purely as speculative tools, with their creators leveraging viral marketing and FOMO (fear of missing out) emotions, without contributing anything real to the broader cryptocurrency or cultural ecosystem. The value of memecoin is emotional; the value of shitcoin is transactional.

The cryptocurrency market—especially on chains like Solana, where transactions are fast and cheap—may be inundated by tokens that skyrocket on platforms like pump.fun like mushrooms after the rain, but not all fungi are edible.

As Coindesk reporter Brady Dale wrote in a 2021 article about DOGE: "The real difference is not in the code, but in the narrative."

A shitcoin lacks narrative depth. They lack comedic spark, charitable causes, and a sense of collective participation beyond speculation. The so-called PolitiFi token trend last year, such as MAGA Coin, BODEN, or KAMA, demonstrated how shitcoins latch onto culturally divisive topics (in this case, political themes) to expedite speculation. They do not connect communities but instead capitalize on political sentiment for quick gains. They lack a shareable inside joke and are merely chips in a digital casino, part of a meticulously orchestrated pump-and-dump scheme from start to finish.

As early as 2022, a journalist wrote in The New York Times: "Tokens branded with a political label exploit real-world tension for brief market momentum, leaving a string of disillusioned investors."

We have all seen how this has played out this year. Just because a token can go viral does not mean it inherently holds memecoin status. Memecoins leverage cultural consensus or collective resonance, while shitcoins only parasitize the same viral spread mechanism without any deeper story. Therefore, they burn out quickly.

Noelle Acheson said in a 2021 Decrypt interview: "They are the economic equivalent of 'flash mobs'... The spectacle disappears as quickly as it forms, leaving no lasting cultural imprint."

"Memes are the DNA of our culture. They are constantly changing code spread through collective mimicry and recreation." —Susan Blackmore, The Meme Machine (1999)

Equating memecoins and shitcoins poses a real threat to the legitimacy and artistic charm that true memecoins bring to the cryptocurrency space. Memecoins have historically been the gateway for newcomers to engage with complex financial instruments. When audiences see this field diluted by exploitative tokens devoid of cultural soul, their trust and enthusiasm are eroded.

Memecoins reflect the collective psyche of internet subcultures—Reddit posts, Twitter trends, Discord channels. Shitcoins hollow out the concept of memes, boiling it down to "virality." The result is a market flooded with digital garbage, overshadowing genuinely innovative projects. Genuine memecoins breathe life into internet culture and foster emotional resonance within a global community. DOGE initially succeeded because it was fun, inclusive, and reflected the core of internet humor. Tokens like PEPE continue this tradition. Shitcoins lack this community magic. They are launched by individuals, merely exploiting memes.

This is why calling a shitcoin a memecoin is like calling a billboard slogan high art. The superficial resemblance masks a vast gulf between authenticity and purpose. Memecoins are not just a joke; they are a mirror reflecting the essence of internet culture, while shitcoins are a funhouse mirror— all surface, no substance. Confusing the two is a misunderstanding of both. Culture is fragile; let's not let it fall.

In the words of Richard Dawkins, a meme is a "cultural unit." Let's respect this definition and remember why we entered the cryptocurrency space—not just to make money but to belong.

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