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From Fringe Culture to the Heart of Crypto Narratives: Memecoins Are Heating Up Again
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In early July 2025, as Bitcoin (BTC) prices rebounded, the crypto market entered another window of heightened investor sentiment. At the center of this capital-driven rally, memecoins are rising at a remarkable pace, drawing attention from both retail investors and institutional capital. From animal-themed tokens on the Solana blockchain to AI-powered "cultural symbols," memecoins are evolving rapidly, reshaping the narrative logic of the crypto market and highlighting a deeper convergence of technology, culture, and finance.
1. Data Overview: The Exponential Rise of Memecoins and Their Growing Market Presence
According to keyword data from Ahrefs.com, global search interest in memecoin–related terms has rebounded in tandem with the recent recovery in BTC prices. Traffic trends show that keywords related to memecoins are closely tracking those of mainstream terms like "Bitcoin," indicating that memecoins are becoming a key narrative complement to BTC's price action, and a major battleground for market attention.
Moreover, the number of newly issued memecoins continued to grow in the first half of 2025. Among them, Solana has emerged as the "memecoin incubator," with 15,000-20,000 new tokens launched per day. Its low transaction fees and ultra-fast confirmation times have enabled the entire "token launch–hype–cash-out" cycle to play out in a matter of minutes. One example is the animal-themed token POPCAT, which leveraged the viral appeal of a "cat-clicking game" to skyrocket to a market cap of $1.2 billion within 72 hours.
These data suggest that memecoins are becoming the first choice for new capital entering the market. Particularly during periods when BTC trades sideways at elevated levels, the rotation into altcoins has already begun.
2. Recently Outperforming Memecoins
As market sentiment shows signs of recovery, meme tokens have begun to move ahead of the broader market, a dynamic not seen for some time. The continued rally of USELESS has helped revive interest across the memecoin sector, while older Ethereum-based meme tokens are staging a collective rebound. This may signal the start of a short-term rally in memecoins. Below, we've compiled a list of meme tokens that have recently shown positive price action to help you track the latest hotspots in the market.
2.1 FARTCOIN (Fartcoin)
Fartcoin checks all the stereotypical boxes of a memecoin: a ridiculous name, zero utility, and a rise driven entirely by linguistic novelty and social virality, enough to leave traditional Wall Street investors speechless. As one of last year's breakout memecoins, Fartcoin was among the first to rebound in the current market cycle.
2.2 PENGU (Pudgy Penguins)
On June 23, asset management firm VanEck invited its NFT brand Pudgy Penguins to join its Nasdaq bell-ringing ceremony. The resulting exposure, combined with rumors of a potential PENGU ETF, has fueled continued gains for the token.
2.3 USELESS (USELESS COIN)
Launched in May on the Bonk.fun platform, USELESS has seen a sustained upward trend, which has also brought renewed attention to Bonk.fun within the market.
2.4 RICH (GET RICH QUICK)
The narrative behind RICH is simple: get rich quick. Like Fartcoin and USELESS, it thrives on pure concept-driven hype. Its rapid price surge has positioned it as a strong contender for the leading token on the Moonshot Create platform.
3. Capital Rotation: Memecoins Emerge as the Go-To Venue for On-Chain Arbitrage
As market sentiment surges, on-chain capital is clearly shifting toward the memecoin sector. Especially during periods of sideways consolidation in BTC, large volumes of "fast-in, fast-out" liquidity are seeking high-volatility opportunities. Compared to sectors like DeFi and NFTs, which have already undergone several boom-and-bust cycles, memecoins offer a unique mix of high volatility, low entry barriers, and emotionally driven narratives, drawing in an increasing number of short-term arbitrage traders and community-driven players.
As of July 2025, the number and activity level of meme projects on the Solana blockchain continue to climb, with some projects seeing weekly TVL growth exceeding 42%. At the same time, Layer-2 networks such as Base and Blast are also witnessing a memecoin boom. On Base in particular, daily trading volume for meme projects has surged, surpassing that of several mainstream DeFi protocols.
Beyond the expansion at the public chain level, centralized exchanges are also actively responding to the memecoin boom. For instance, MEXC has launched a dedicated Meme+ interface to attract new users and accelerate the formation of a closed loop of discovery, trading, and viral dissemination. At its core, this capital behavior reflects the market’s search for highly elastic assets and high-frequency trading opportunities. In this current phase, dominated by short-term capital, memecoins have quietly replaced parts of the DeFi and NFT sectors, becoming the new "primary battleground" for on-chain traders and arbitrageurs.
*BTN-Enter Meme+&BTNURL=https://www.mexc.com/memecoin *
4. Narrative Mechanism Upgrade: From Meme Jokes to Building Native Digital IP
4.1 Three Stages in the Evolution of Memecoin Narratives
The most notable shift in the current meme coin boom lies in the comprehensive upgrade of its narrative structure:
Stage | Content Structure | User Participation | Corresponding Value |
Early-Stage Meme
(e.g., DOGE) | Single image, social emojis | Passive following | Entertainment value |
Mid-Stage Meme
(e.g., SHIB) | Character persona, token speculation | Investment and speculation | Market value |
2025 Meme
(e.g., DOG) | Worldview, interactive products | AI co-creation, meme minting | Cultural asset |
This narrative upgrade signals a fundamental shift: memecoins are no longer just speculative assets, they are becoming content platforms with IP potential. They represent a form of collective consensus, a reflection of community-driven content production, and a new way to monetize culture in Web3.
4.2 Key Features of the New Narrative Model
- Strong community-driven dynamics: Developers often remain anonymous or delegate decision-making to community votes, with project momentum driven by collective consensus.
- Rich on-chain mechanics: Features such as staking incentives, NFT integration, and gamified experiences strengthen user engagement and stickiness.
This emerging model, anchored in narrative, emotion, and virality, positions memecoins as native Web3 distribution mechanisms, rather than traditional speculative coins. Going forward, a project's core competitiveness will hinge on its ability to craft compelling narratives, organize communities, and efficiently generate traffic.
5. Conclusion: Staying Rational Amid the Frenzy
The rise of memecoins reflects not only crypto's rebellion against centralized power but also the deep convergence of technology, culture, and finance. It highlights a strong market appetite for assets that offer simple narratives, low barriers to entry, and high viral potential. As BTC continues its upward climb and mainstream tokens face short-term upside limitations, memecoins offer a high-risk, high-reward alternative for adventurous investors.
This memecoin frenzy is not only worth participating in, it's worth understanding. For those willing to take a bet, now may be the ideal entry point for the next big narrative wave. As a key player in the crypto market, MEXC has emerged as a major hub for memecoin trading, thanks to its efficient trading infrastructure and rapid listing mechanism. With its quick response to market trends and commitment to offering diverse trading opportunities, MEXC has drawn strong attention from both retail and institutional participants. In the memecoin space specifically, MEXC's speed of listings and specialized support through its "Meme+" initiative have made it a focal point for investors. Looking ahead, MEXC will continue to uphold its core values of efficiency and accessibility, delivering a broader, higher-quality trading experience and empowering users to seize the next wave of crypto innovation.
Disclaimer: This material does not constitute advice on investments, taxes, legal matters, finance, accounting, consulting, or any other related services, nor is it a recommendation to buy, sell, or hold any assets. MEXC Learn provides information for reference only and does not constitute investment advice. Please ensure you fully understand the risks involved and invest cautiously. All investment decisions and outcomes are the sole responsibility of the user.