SuperEx Education Series:The Origin and Rise of Memecoins
These past few days brought a wild headline: the first U.S. Dogecoin ETF was approved for listing — almost unbelievable. As the onetime synonym for “memecoin” and the personification of internet-driven narratives, many people still associate Dogecoin — and memecoins in general — with “high risk and high return.” Yet in just a few short years, Dogecoin has begun moving into the mainstream. That’s nothing short of a minor miracle.
Behind the approval of a Dogecoin ETF is a clear signal: memecoins have become an undeniable, phenomenon-level sector. Whether you love them or hate them, they’ve risen. This guide starts from first principles to explain:
What exactly is a memecoin?
How did it emerge and evolve?
Why does it ignite markets again and again?
Where are the risks — and the opportunities?
If you’re new and want to participate, what should you watch out for?
What Is a Memecoin, and Where Did It Come From?
“Memecoin” combines meme (internet joke/cultural trope) + coin (token). In short, it’s a class of cryptoassets whose core is internet culture and community consensus, not technical breakthroughs or sophisticated financial design. Unlike Bitcoin or Ethereum, which carry grand narratives and clear utility, a memecoin’s value is driven far more by social resonance, community heat, and cultural propagation.
Its story starts with Dogecoin (DOGE) in 2013. Two programmers, just for laughs, turned a Shiba Inu meme into a coin — and it unexpectedly went viral worldwide, even getting repeated shout-outs from Tesla CEO Elon Musk. This demonstrated that:
Memecoins didn’t get big because of “technology,” but because of culture and emotion.
Their growth path mirrors internet memes: virality through social platforms.
In essence, a memecoin is a community-driven digital asset born from meme culture.
A Brief History of Memecoins
Phase 1: The Birth of Dogecoin (2013–2017)
Dogecoin began as a joke and accidentally became one of the best-known coins outside Bitcoin. It showed that crypto can be a cultural symbol, not just a financial instrument. In this period, memecoins were viewed as “for fun,” but the seeds for a later boom were planted.
Phase 2: DeFi + Meme (2018–2020)
As Ethereum matured, new tokens began blending memes with DeFi mechanics. Shiba Inu (SHIB) is a hallmark example: meme appeal with a broader ecosystem. Memecoins shifted from “pure jokes” to experiments with financial features.
Phase 3: The Big Bang (2021–present)
A bull-market mood pushed memecoins into mass culture:
SHIB soared by tens of thousands of percent, minting rags-to-riches legends.
Elon Musk’s tweets repeatedly catapulted DOGE into the top-10 by market cap.
New names like PEPE and BONK dominated social feeds.
By this point, memecoins weren’t niche — they’d become a major on-ramp for crypto liquidity and users.
How Memecoins Work
Beneath the surface, memecoins are just code. But what truly drives their price and reach is a system built from community, culture, speculation, and narrative.
- Community Consensus: The Soul of a Meme
With memecoins, no community = no value. Technical barriers are low — many tokens can be launched in hours or minutes — so what determines breakout potential is whether a community treats it as a shared belief and spreads it.
Winning community traits often include:
Hyperactive social channels (X/Twitter, Reddit, Telegram).
Endless user-generated content (memes, shorts, edits) that virally propagate.
Grassroots storytelling: retail over institutions, “underdog wins.”
Ride-or-die mentality: even after a 50% drawdown, holders chant HODL.
Value lies in the community, and the community’s value lies in resonance.
- Cultural Symbols: From Shiba to Frog
Memes are cultural expression. Shiba dogs, frogs, monkeys, cats — these icons are core to internet culture. Coupled with tokens, they gain both financial and social meaning.
Shiba (DOGE/SHIB): early crypto humor and irreverence.
Pepe the Frog (PEPE): a classic internet meme turned financial avatar.
Countless other mascots drive new viral waves.
People might not parse a consensus algorithm, but everyone “gets” a cute dog or an iconic frog. Cultural symbols become the strongest viral engine.
- Liquidity & Speculation: A Game of Surges and Dumps
Most memes launch simply:
Team issues a token,
Seeds a DEX liquidity pool,
Lets the community run with it.
The result: extreme speculation. Prices can multiply in hours — and crater just as fast. That volatility is the draw. A few hundred dollars can become a fortune — or go to zero overnight.
- Narrative & Sentiment: The Weather Vane
Unlike upgrades or protocol shifts that add fundamental value, memecoins move on stories and mood:
Celebrity effect: one Musk “to the moon” post can rip DOGE higher.
Topical hooks: timely jokes or stunts spark FOMO.
Rival narratives: “SHIB flips DOGE” stokes attention and engagement.
When risk appetite is high, memes typically lead the pump; when the market sours, they’re first to slump.
In short:
Community is the engine,
Culture is the fuel,
Speculation is the flame,
Narrative and sentiment set the wind.
Market Characteristics of Memecoins
- Extreme Volatility
PEPE’s multi-thousand-percent launch moves sit alongside countless copycats that go to zero. Drivers include:
Retail-heavy flows, unstable capital,
Bursts of concentrated volume,
No fundamentals — pure order flow and mood.
High Risk, High Reward
No P/E ratios or cash flows here. With no intrinsic anchor, moves exceed norms. That uncertainty is the appeal — and the trap.Supercharged Virality
Memecoins are native to social platforms:
X/Twitter hashtags (#DOGE, #PEPE) trend often,
TikTok shorts make them pop fodder,
Reddit fuels meme-on-meme engagement.
Paid ads aren’t necessary — users themselves are the growth engine.
- Low Barrier to Entry
Memes often have tiny unit prices:
Psychology: “I can’t afford 1 BTC, but I can buy millions of SHIB.”
Accessibility: $10 can create a sense of participation.
- Entertainment Value
Beyond investing, memecoins are social entertainment:
“To the moon” memes,
Bragging about “diamond hands,”
Treating PnL swings like inside jokes.
Memecoin Glossary
Meme: A widely shared internet joke/cultural motif; the root of “memecoin.”
Memecoin: A token centered on meme culture (e.g., DOGE, PEPE).
Dogecoin (DOGE): The original memecoin; Shiba meme; from joke to blue-chip meme.
Shiba Inu (SHIB): The “Dogecoin killer”; massive supply, community-driven.
PEPE: Token themed on the Pepe the Frog meme; exploded in 2023.
Community Consensus: The primary value driver — engagement and participation.
Liquidity Pool: DEX pool enabling trading.
Pump and Dump: Coordinated hype then mass sell-off.
HODL: Misspelling of “hold,” now meaning long-term holding through volatility.
FOMO: Fear of missing out; meme markets thrive on it.
Rug Pull: Team removes liquidity or absconds with funds.
Whale: Large holder capable of moving price.
Viral Marketing: Social-first, user-driven distribution.
Tokenomics: Supply/distribution design; even simple memes are affected by it.
Gas Fee: On-chain transaction fee; often spikes during meme frenzies.
Volatility: The hallmark of memecoins — violent swings.
Narrative: The story that directs attention and flows (“dog culture,” anti-elite, etc.).
Exit Liquidity: Latecomers who buy the top as earlier holders sell.
SuperEx & Memecoins
As a leading global crypto platform, SuperEx offers a secure, transparent, and convenient trading experience:
Trading pairs for major memes (DOGE, SHIB, PEPE, etc.),
Beginner-friendly tutorials to understand risks and operations,
Robust risk controls to reduce rug-pull exposure,
Lively community campaigns to learn the cultural side of memes.
SuperEx believes memecoins are more than speculation — they’re a vital cultural phenomenon in Web3. We’ll keep building products and services around the meme ecosystem.
Final Thoughts
Memecoins are the most distinctive corner of crypto — equal parts absurd and electric, perilous yet opportunity-rich. They’ve made some people financially free and wiped others out. But they’ve undeniably introduced millions to blockchain.
For everyday users:
Stay rational; participate cautiously.
Don’t go all-in on memes.
Treat memecoins as a Web3 cultural experience, not your only investment.
In the vast crypto universe, memecoins may be just small stars — but their sparkle has guided countless newcomers toward their first steps in Web3.
