When crypto markets are melting down and the dip keeps dipping, what is left to beleaguered crypto investors? It's only a virtual pat on the back from other heartbroken members of the crypto community and — you guessed it right — memes all the way to the bottom. Buckle up, kids: we're here for one hell of a ride.
Some of the best crypto memes have ascended to become actual cryptocurrencies, albeit with purely humorous origins. Meme coins, a bizarre class of crypto assets that pay homage to an Internet meme, always enjoyed a loyal fan base despite their lack of actual utility — and Dogecoin can be rightfully hailed as the king of meme currency. Created by Billy Markus and Jackson Palmer as a joke that was inspired by a popular meme featuring a Shiba Inu dog, the meme coin soon amassed a solid following and climbed to the Top 10, boasting a $9 billion market capitalization at the time of writing. Much wow!
FYI, Dogecoin isn't the only crypto inspired by Shiba Inu dog — its closest rival Shiba Inu (SHIB), although still far behind in terms of market cap (just $4 billion), nevertheless enjoys love and support from a significant part of the crypto community. You can read more about SHIB and its ecosystem here.
Who wouldn't love to make a ton of money from crypto, becoming a millionaire overnight just by being early? A luxurious car brand Lamborghini, aka 'Lambo' in crypto speak, has become the embodiment of such aspirations. This crypto meme is often used by hopeful cryptocurrency investors as a half-serious, half-joking way to ask when their crypto bags will soar enough so they can send one last 'goodbye and thank you!' email to their office and ride their Lambo to the sunset. Yeah, I wish...
Yeah, I'm here for the technology
"I'm here for the technology" is what (nearly) every crypto bro says when they don't want to appear greedy to other crypto bros. "Why would you even assume that I want a return on my investment? I'm above that!" Yeah bro, whatever you say...
Alternatively, this crypto meme can also be used in an ironic way when it's obvious that the whole "I'm here for the tech" shtick is a pure cope for not selling on time.
In the crypto world, DYOR stands for 'Do your own research,' a mantra constantly repeated by seasoned crypto investors to newcomers. Yet despite all the warnings, nearly every day in crypto brings news of scams and rug pulls that leave investors with worthless tokens.
To avoid such a dire situation, check our guide on how to analyze crypto projects and spot scammers. Stay vigilant, stay safe!
Definitely not a Ponzi
Ever heard about the classic Ponzi and pyramid schemes that scam investors out of serious cash? Well, with the power of smart contracts and incentive engineering, the DeFi "Ponzinomics" can even put old Bernie Madoff to shame. Unbelievably high APYs and advertised zero risk still get many newcomers to fall for the dubious projects, so if something sounds too good to be true, it most certainly is — and this is what meme is all about.
And if, despite all the warning signs, you were still willing to gamble with your money and were (predictably) left holding a worthless bag of coins after founders and insiders cashed out, that means that you've become their exit liquidity. Check our explainer on what is exit liquidity and how to avoid becoming one.
Come join us, Sam!
If you've been in the crypto space for at least a year, there's absolutely no way you missed the absolute shitstorm that was FTX's collapse in November 2022 that wiped out $200 billion in the total value of the cryptocurrency market and made the laughingstock of the exchange's founder Sam Bankman-Fried. In a matter of days, crypto's former poster boy became the industry's most hated man and everything he ever touched was tainted as well — from celebrity A-listers who did influencer marketing for FTX and now are being sued by disgruntled investors to DeFi projects that were supported by Bankman-Fried. Sic transit gloria mundi...
A keyword typo of "hold," this crypto meme originated from a forum post during a market crash. It humorously encourages people to hold onto their cryptocurrency investments despite market fluctuations, becoming a rallying cry for those who believe in the long-term potential of their beloved cryptos. Some investors quickly recycled HODL as an acronym for “hold on for dear life,” a popular crypto investing strategy advised for beginners.
DCA is the way
The disciples of Satoshi Nakamoto keep preaching the gospel of 'HODL' and 'DCA' to crypto newcomers — and as much as Bitcoin folks can get annoying, many investors would actually benefit from taking notes of what they have to say. Timing the market is rotten work that takes an insane amount of time, luck, and grind, while the dollar-cost averaging (DCA) — a strategy for buying a fixed dollar amount of a particular crypto at regular intervals — is actually a pretty simple and straightforward way to build long-term profits. According to this meme, there are no shortcuts to becoming rich from crypto— and the real key to success is discipline and being here for a long ride.
Crypto traders (not) looking their age
No amount of advice from crypto veterans would ever stop traders from trying to time the market — and few of them actually succeed from time to time, although mostly due to the broken clock syndrome. But the price can be high as well — wrinkles, gray hair, back problems, shaking hands are joked to be the traits that set apart seasoned crypto traders from their less experienced peers. And these poor guys aren't even into their thirties yet...
Return to McDonald's
Investments always come with risks, and when the worst-case scenario actually happens — such as FOMO-fueled buying crypto on debt and being 90% down in your investments — it's nice to have a plan B just in case. For some of you, the best options left are taking whatever minimum wage job is available near your mom's place, where you can temporarily stay in your old room while processing a valuable lesson on risk management. Would you like fries with that?
Elon Musk tweets (xeets?)
Elon Musk's love for Dogecoin gave birth to a slew of dog-themed meme coins that pump wildly every time Twitter chief posts anything vaguely related to dogs, crypto, or dog cryptos. His affection towards DOGE, however, has already caused him some trouble — a group of investors in a class-action lawsuit has accused Musk of insider trading and manipulating the price of a meme token, seeking $258 billion in damages. Not much wow, that's for sure!
The real dip?
"Buy the dip" is a phrase that encourages traders to buy cryptocurrencies when their prices drop, averaging down their purchase price. But what would you do when the dip keeps dipping and you don't have more money to pour into your sinking portfolio? Instructions unclear, retirement money is gone...
Ethereum vs 'Ethereum killers'
Every couple of months, a new self-proclaimed "Ethereum killer" L1 pops out, promising cheep gas fees, smart contracts, and scalability, yet nothing has ever come close. Ethereum's dominance seems unshakable, and ETH bros love to occasionally poke fun at competing blockchains that seem to have perpetual issues with adoption despite touting themselves as a superior option to Ethereum.
To the moon!
This crypto meme plays on the idea of a cryptocurrency's price "mooning," which means its value is skyrocketing to the moon. The imagery of rockets and astronauts symbolizes the hope for massive price gains, although it may sometimes be used to poke fun at unrealistic promises made by some projects.
NGMI, an acronym for "Not Gonna Make It" is often used somewhat cynically or humorously to suggest that someone's crypto strategy is poised to fail. It could be directed towards someone making what is perceived as a poor or uninformed investment decision, or towards someone who seems to lack a basic understanding of the market dynamics at play. Alternatively, degens can use it to mock overly cautious investors
who take modest profits instead of waiting for the asset to moon.
We’re leaving you with one last meme that embodies the adventurous and enthusiastic spirit of crypto: WAGMI. A positive counterpart to NGMI, WAGMI stands for "We're All Gonna Make It." This phrase is generally used as a rallying cry to foster community spirit and optimism, particularly during market downturns. After all, if there's one thing the crypto folks agree on, it's that, despite the ups and downs, "We're All Gonna Make It."
We hope that our collection of the funniest crypto memes did brighten your day. WAGMI!