Strange stories in the Meme coin market 2024

The meme coin market has always been crazy and unpredictable, full of hilarious situations. From quirky livestreams, “love trap” gimmicks to fleeting asset vaporizations, it has all created a chaotic picture that is both funny and contemplative about this market.

Let's take a look at some of the highlights of the past year to see that, in addition to the quick enrichment opportunities, meme coins also contain a lot of risks and pitfalls.

Livestream of handcuffs, bizarre boxing matches

The crypto market has seen a one-of-a-kind livestream trend where meme coin developers compete against each other to do silly things to pump up the price of their tokens on Pump.fun.

Some people tie their hands to prove they can't sell tokens, some pretend to have no hands (and then suddenly reveal their hands and sell them clean), and even developers claim to have kidnapped someone.

Not to stop there, another guy lost a tooth while boxing on the livestream, and oddly enough a guy livestreamed... his third round to urge viewers to buy tokens.

Make money from curry

A guy who “dares to do otherwise” created meme coins for a curry stall in Lahore, Pakistan.

However, after being ripped off by the online community for not receiving any coins from the token, the streamer stopped the livestream and the CURRY coin plummeted unbraked, losing 92% of its value in just a few hours.

Women's meme coin monetization formula

Speaking of the odd livestream wave, it's impossible not to mention the “love trap” trend to pump-dump tokens. The trend of leveraging traction from livestreams to grab attention and push up token prices is becoming increasingly popular.

Many, mostly women, have capitalized on their charisma, dressing gowns, livestreaming, and then selling out tokens and rug pulls when there are buyers.

However, not all cases are successful. Typical of Kim, a woman who livestreamed going to the shower and issued PHONTON tokens in hopes of making a mess of money. But as a result, after selling off the token, Kim collected only 0.3 SOL, which was too small to compensate for the effort of undressing and livestreaming.

Use stimulants to attract viewers

This year has been a memorable year for drug addicts using blockchain. First to mention Meth'd Up Dev, the guy who used drugs on his livestream to pump his tokens.

Next up was Crack Head Dev, who overdosed on fentanyl right on the livestream. He then faked his death and came back as an extremist, racist figure on Twitter. Finally, Meth Girl, who, while struggling because her Twitter account is constantly banned, remains stubbornly active.

These events quickly spread, inadvertently creating a pump token flow and then an odd rug pull on Pump.fun. In light of that situation, Pump.fun was forced to disable the livestream feature to prevent things from going too far.

Invisible cat coin meme

In addition to strange coin meme livestreams, quirky stories revolving around meme coins also contribute to the chaotic atmosphere of this market. In early November 2024, investors rushed to trade a coin based on an “invisible cat” named Kieth, when in reality it was just a snapshot of a blank room.

The incident attracted the attention of the community with mixed reactions. Some people were excited and confident in the potential of the project, even suggesting that Kieth actually exists.

Meanwhile, the other person was skeptical and questioned about the existence of Kieth the cat, repeatedly asking “Where is Kieth?” or cotton joke “Kieth will be an invisibilions (invisible billionaire)”.

Slerf coin meme and money burning incident

Another unfortunate event was that a developer accidentally burned $10 million worth of presale tokens for the upcoming Slerf meme coin, instead of sending them to presale participants.

Surprisingly, the SLERF token subsequently skyrocketed to a market capitalization of more than $700 million.

Meme coin FLOG

Flog the Frog (FLOG) is a meme coin that is expected to succeed thanks to its impressive artwork and the support of influencers.

However, due to a disastrous misunderstanding within the development team, the FLOG token was sold off, causing its value to drop 91% in just one minute. Fortunately, Flog was relaunched as Fwog and eventually became one of the most successful coin memes of the year.

Meme coin PNUT

Poor Peanut the squirrel, suspected of having rabies, suddenly became a meme coin in the general election.

PNUT reached $150 million a day in trading volume in November and became one of the largest meme coins. Tragically, after his murder, it was discovered that Peanut did not have rabies at all.

Strange coin meme experiment

Meme coin developers conducted a social experiment on Solana by airdropping $10,000 worth of CABAL tokens to 10 influencers on Crypto Twitter.

However, in just a few days, most of these KOLs sold off those tokens. Currently, CABAL Market Cap onlyLess than $15,000.

Hot Girls Hawk Tuah and Chum Rug Pull

Haliey Welch, known by the nickname “Hawk Tuah Girl”, launched the HAWK token. The token quickly reached a market capitalization of $490 million before plunging more than 93% in value. About $3 million was misappropriated by unidentified persons.

Welch's rep denied the “rug pull” and insisted her team did not sell any tokens. Welch later appeared on Twitter Spaces to answer investors' questions, but then abruptly left the conversation. It wasn't until December 20 that she reappeared and claimed to be working with the law firm to sue the creators of the HAWK token.

Rug.fun: When rug pull becomes a bet

If you're not brave enough to create a meme coin, pump it into a market cap of billions of dollars and then “rug pull” its holders, Rug.fun is the game for you.

The app realistically simulates that entire flushing process, built on Coinbase's Layer 2 Base network. Players will bet on 10 tokens, of which 8 will be “rug pulled”.

Hamster Kombat helps increase sales of massagers

In June, online retailer Wildberries recorded a 179 per cent increase in sales of tap massagers compared to the previous month. The reason is believed to be that players of Hamster Kombat, the tap-to-earn game on Telegram, used the device to speed up screen touch, in order to increase in-game earnings.

However, with Hamster Kombat's airdrop causing great disappointment, many people claim that the money they earn is not even enough to make up for the cost of buying a massage machine.

Coin platform identifies itself as meme coin

After years of building an image as a legal decentralized digital currency, Litecoin has made a strange decision: the intern managing the project's Twitter account has rebranded Litecoin as a meme coin.

Litecoin's Twitter account posted the status line: “Due to current market conditions, I now identify myself as a meme coin,” accompanied by a series of humorous posts, including the creation of a stickman mascot named Lester. Ironically, the price of Litecoin then rose 79%.