#迷因币情绪 The market's enthusiasm for meme coins is essentially a concentrated reflection of the "emotion-driven" and "speculative attributes" in the field of cryptocurrency. There are several key logics behind it:

- Low threshold for participation: Meme coins often do not have complex technical barriers or application scenarios. They rely more on community consensus and meme culture (such as the "Shiba Inu" of Dogecoin and the frog image of PEPE) to narrow the distance, making ordinary investors feel that "you can participate by just tiptoeing". This sense of ease lowers the psychological threshold for entry.

- Imagination space for short-term wealth: Historically, some meme coins (such as Dogecoin and SHIB) have experienced amazing growth. This "wealth-making myth" will be spread repeatedly, attracting funds with a "take a chance" mentality to enter the market. Even if they know that the risk is high, they are willing to pay for a small probability of high returns.

- Boosting the market cycle: In the stage when cryptocurrencies are generally hot, funds tend to flow to assets with high elasticity. Meme coins, as "emotional amplifiers", are easily pushed up by funds, forming a short-term cycle of "the more they rise, the more they buy".

However, the other side of this enthusiasm is high risk - lack of actual value support, huge price fluctuations, may soar in the short term, or quickly return to zero. Investors' enthusiasm is more about chasing "short-term speculative opportunities" rather than recognizing its long-term value, which also makes meme coins always accompanied by the controversy of "bubble theory".