From DOGE to GHIBLI, what is the Next Level of Meme Coin?

Original title:Social currency are the future of memecoins

Original author: LucaNetz, Pudgy Penguins NFT CEO

Original translation: rhythmic little Deep

Editor's note: The article focuses on the rise of Meme coins, its potential and limitations. The author believes that although Meme coins are a unique carrier of cryptocurrency speculation mechanisms, their development is limited by the flaws of lack of innovation, stagnation and pure reliance on hype. The article proposes that Meme currency should evolve into a "social currency" to promote the development of the crypto industry. Social currency is the evolutionary form of Meme currency. Its success depends on execution rather than luck, and may ultimately lead new changes in the crypto field.

The following is the original content (to facilitate reading comprehension, the original content has been compiled):

The cryptocurrency market has been like a roller coaster for the past 18 months, and in this chaos, we have witnessed the rise of Meme coins. While Meme coins are not new – in fact they are one of the oldest forms of cryptocurrency – they once again prove themselves to be the preferred carrier of choice for the most unique mechanisms (speculation) involved in cryptocurrencies.

Although Meme coins are pure and nearly artistic in nature, they also have dark sides. No, the problem is not the insider or small groups – it’s a common problem that plagues the entire cryptocurrency space. In my opinion, the real problem is the lack of effort, the failure to grasp the opportunity, and the conscience of people in building Meme coins. Maybe I'm too naive, but I refuse to accept Meme coins to stop there - at least I hope that's not the case.

I firmly believe that the Trojan horse that popularizes cryptocurrencies is intellectual property (IP) because it can build credibility in areas where there is a lack of trust ladder, and Meme coins are a form of IP, just like NFT. Meme coins have huge opportunities to drive the crypto industry by delving deep into the minds of ordinary people. However, instead of breaking through the potential boundaries of encrypted native characters, they stagnate, lack originality, and mediocrity on the road to transcendence. I worry that if the status quo is maintained, they will do more harm than good. For this category to flourish, Meme coins must evolve, and I firmly believe that the direction of evolution is to become a social currency—a token that will transcend the lazy pull-up and turn into a scalable, memorable and beloved IP.

My claim is not to replace Meme coins with social currency, but to add the final stage to its growth roadmap. Meme coins must graduate from meaningless images on the chain and evolve into a productive and perceptual social currency that can drive the crypto industry. I think there are tokens that fall into this category. This article will explore the current status of Meme coins, why successful projects should evolve into social currency, and the impact of social currency on the crypto field.

First of all, what is social currency?

Social currency is a tokenized asset that represents value within a particular community and is often used to incentivize participation, reward contributions, and enhance brand or community loyalty. It operates similar to traditional currencies, but its value stems from social interaction, reputation and influence.

In layman's terms, social currency is a fundamental Meme currency—it is progressive, perceptual, focused on nurturing communities that can continuously create viral effects, rather than extracting value from short-term hype.

Meme Coin vs Social Currency

Meme coins do not create viral effects—they monetize the virus effects and squeeze the heat dry until it fades. Social currency is perceptual and can actively promote its IP through multiple media, cooperation and integration, and continuously generate viral effects.

The typical life cycle of Meme coins:

· Creativity → Token Issuance → Community Cultivation → Community Support Narrative → Narrative Episode → Community Episode

The life cycle of social currency:

· Creativity → Token Issuance → Community Cultivation → Community Support Narrative → Brand Creation → Brand Expansion → Ecological Construction → Global adoption and recognized currency

In my opinion, all social currencies were initially Meme coins, but as potential energy accumulates, they must evolve into social currencies. The following figure accurately shows this process.

I love this picture because it shows that social currency is not about replacing Meme coins, but its evolutionary form. For me, social currency is a Meme currency with real value support. Anyone can issue Meme coins, but only the best can inject real value into them.

If you believe that liquid crypto assets will be primarily in the retail asset category, then what you believe is Meme coins and their success. If you think institutional capital will eventually flow into altcoins, then you must expect fundamentals to dominate. Social currency has both advantages - it has the retail appeal of Meme coins and is also fun to attract institutional participation. In my opinion, social currency combines the essence of Meme coins with practical tokens.

When analyzing the flaws of Meme coins, it is obvious that they could have more potential, but we let social consensus convince ourselves that "Meme coins should do nothing, and it has always been like this." I personally refuse to accept this as the future criterion for the field. To understand my frustration, we need to first disassemble the current factors that restrict Meme coins and how social currency can resolve these problems.

Meme Coin Flaws

· Stagnation: The trend disappears if it loses momentum

· Stigmatization: 99% speculators lose money, not long-term holding targets

· PvP mode: designed for short-term flow rate, becoming a chair grabbing game for existing users

Lack of infrastructure to attract new users

· No real belief support except for illusory narratives—no fundamentals

· Success often depends on fantasy and luck

Advantages of social currency

Perception: It can create and capture trends, maintain continuous relevance

· New narrative: It combines the durability of Meme coins with the real fundamentals that support growth, suitable for long-term holding

· PvE model: aims to promote the development of the crypto industry and attract new users

· Continuously create demand through content planning, brand cooperation and IP growth

· Build real things beyond the industry and enhance holder identity and beliefs—there is a basis for real belief

· Success does not depend on luck or narrative, but is supported by real fundamentals

Perception vs Non-perception

For traders and investors, the core difference between Meme coins and social currency is perception—the ability to continue to maintain relevance. Social currency is perceptual and Meme coins do not, which is the key that traders should pay attention to. Perception = correlation = attention = potential energy. Unless you are an encrypted legend (such as DOGE), anything without perception will eventually die.

After reading this, some people may think: "I don't want Meme coins to take any execution risks."

This psychological warfare began with NFT art collectors in 2020, and I was surprised that we continued this narrative. My rebuttal is simple: Things that have no risk of execution depend entirely on luck. Execution risk is the only risk worth taking. If your position does not depend on execution, I can say with great certainty that in 999,999/1 million times, your performance will be inferior to those who bet on execution (although I still wish you good luck).

The future of social currency

To realize true potential, Meme coins need to be upgraded to social currency in the final chapter of evolution. Tokens that create culture, cultivate deep community ties and incorporate real-world applications will define a new era of crypto. The shift from stagnant speculative assets to an ecosystem of dynamic participation is not only necessary, but also inevitable.

The question you need to think about now is: Who will lead this change?