Memes have quickly become a staple of online culture. They can be considered to be the most effective way to get the word out about everything from breaking news to expert analysis. The state of crypto and blockchain is the subject of many memes.
Memes are ruling social media whether a bull market is raging, or when everything turns south. Let’s have a look at some of the most popular memes, slangs, and their meanings in the crypto space.
Doge or Dogecoin
This is where the meme and crypto met for the first time. Dogecoin is the first meme coin, a cryptocurrency created as a joke. It is based on the popular “Doge” internet meme which displays a Shiba Inu dog.
Now you can probably imagine what can become a reality in the markets, even if we are talking about tens of billions of dollars 🤦♂️ 🐶
➡ https://t.co/GO8D6xqguH ⬅#stocks #shares #crypto #cryptocurrency #forex #commodity #analysis #trading #trader #market #investro pic.twitter.com/eNyUqzY57Z
— Investro.com (@investrocom) December 19, 2022
Well, despite being a joke, Dogecoin almost reached a valuation of $50 billion in 2021. Now it’s approximately $11 billion. Still a joke? Not really. Actually, Elon Musk himself expressed interest in this cryptocurrency and said in a tweet from June 2022 that he will keep supporting Dogecoin.
ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
They say this thing “hodl”
A Bitcoin Forum user in 2013 accidentally spelled “hold” as “hodl,” and the term stuck ever since. The original person, evidently irritated by the fluctuating price of Bitcoin, meant to write “I am holding,” but instead wrote, “I am hodling.”
Also read: TOP 5 ways you can spend your Bitcoin
The misspelling quickly gained traction, and the term hodl grew to be widely used in the cryptocurrency world to describe the technique of hanging onto one’s cryptocurrency for the long term despite temporary price changes.
"HODL" meme was born in 2013 when some drunk dude misspelled HOLD while bitcoin was crashing
— Documenting ₿itcoin 📄 (@DocumentingBTC) February 7, 2021
If you google the term, you may find some T-shirts or coffee cups with “hodl” on them. So, yeah, hodl!
The #HODL Experience #cryptomemes pic.twitter.com/BoplkIZoJp
— Crypto believer (@CryptoSportsIO) January 23, 2023
Wen moon or wen listing
“Wen” is basically the same as “when.” The same principle as with hodl and hold. People use “wen moon” when they are excited or hopeful about a certain token exploding in price. That also goes for “when Lambo,” which indicates a belief that some token will skyrocket in value and they get rich.
Crypto enthusiasts use “wen listing” or “wen Binance” as well, hungry for profits that could be made when a certain token is listed on a major exchange like Binance, Huobi, or OKX.
When Lambo meme, source: link
Crypto crash 2022
Last year was tough for crypto investors and traders. Of course, what else would they be doing if not posting memes about the tough bear market? One of the most popular memes regarding 2022 is the cat saying “bye crypto.”
Bye crypto meme, source: link
There are many crypto enthusiasts in the world. In fact, over 425 million people own cryptocurrencies. But naturally, there are also many sceptics of Bitcoin or crypto overall. For example, Peter Schiff has been criticizing Bitcoin at least since 2017.
Read more: TOP 5 largest crypto hacks of 2022 – how much money did they lose?
He told Twitter users to sell Bitcoin while they can in 2018 at $3,800. He also said Bitcoin is going to zero in December 2022, right before Bitcoin pumped more than 30%. However, Schiff is not the only critic of cryptocurrencies.
Peter Schiff is a heavy critic of #Bitcoin and for good reason. It's not a store of value like gold is… @PeterSchiff pic.twitter.com/XB2JH4csJX
— Investro.com (@investrocom) January 25, 2023
Jim Cramer also heavily badmouthed crypto in late December 2022, stating he wouldn’t touch crypto. Needless to say, it rallied hard just 11 days after his statements. Peter Zeihan also criticized Bitcoin, saying there’s “no intrinsic value to this asset.”
Bitcoin is now up 30% since Jim Cramer said it was a good time to get out just 11 days ago pic.twitter.com/flQIYE6zAc
— Inverse Cramer ETF (Not Jim Cramer) (@CramerTracker) January 20, 2023
Buy the dip
“Dip” is a very popular term in the crypto space as well. There are tons of memes about how right it is to buy the dip when the market falls. Moreover, the crypto community points to the fact of how tough it is to mentally survive when markets bleed.
Buy the dip meme, source: link
The crypto community is fuelled by these kinds of memes and it’s actually healthy to relieve some stress by watching funny memes when markets tank. So what are your favourite memes?
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