WEEX Labs: Understanding the Renaissance of Established Memecoins

Recently, Bitcoin has gradually recovered after a period of volatility, and overall market sentiment has slowly improved from its slump. Meanwhile, a host of established memecoins have led the rally, making the memecoin sector once again the most sensitive “barometer” of market sentiment.

As we noted in Memecoin Next Act: The Flash Era , memecoins are no longer mere internet jokes, but rather a perfect fusion of community narratives, attention-grabbing trends, and speculative fervor.

This observation remains true today — ASTEROIDETH, WOJAK, TROLL, and 币安人生, among other veteran memecoins currently enjoying surging popularity, have broken the historical pattern where emerging memecoins typically led rebounds.

In this article, we’ll break down the renaissance of these established meme coins.

Asteroid Shiba (ASTEROIDETH)

The resurgence of this veteran meme coin stems from a young girl named Liv Perrotto. This space-loving girl designed a Shiba Inu-shaped zero-gravity indicator called “Asteroid” before her passing, and it once accompanied astronauts aboard a SpaceX rocket. Liv’s final wish was for it to become SpaceX’s official logo.

On April 17, following media personality Glenn Beck’s in-depth coverage of the story on his show, this deeply moving tale quickly went viral, driving a surge in the price of the eponymous ASTEROID tokens on chains like Ethereum and Solana.

By April 19, Musk officially responded and agreed to designate Asteroid as SpaceX’s official mascot. Fueled by this “top-tier narrative,” the market cap of ASTEROID on Ethereum surged to a peak of $170 million in a short period.

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ASTEROID/USDT

wojak (WOJAK)

WOJAK’s origins are more pure.

Known as the “Feels Guy,” it originated from a bald, sad face drawn by a user on the 4chan forum, accompanied by the caption “that feeling when...”—instantly becoming an iconic symbol of internet meme culture.

It subsequently evolved into one of the earliest widely used memes, embodying the heartache, confusion, and self-deprecating humor of countless netizens.

Today’s WOJAK token directly tokenizes this collective memory. Its recent surge did not rely on a single event, but rather on long-accumulated cultural significance and organic community dissemination. During market recovery phases, this type of “vintage meme” coin often demonstrates greater resilience—because it doesn’t require constant external news; as soon as market sentiment warms, the resonance of the past naturally revives.

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TROLL

TROLL also originates from a “veteran meme” in the meme community.

The classic internet meme “Trollface,” created by Carlos Ramirez, has long been a symbol of ‘trolling’ and “pranks” online. Consequently, the launch of the eponymous meme coin TROLL has naturally become a hot topic for speculation.

Currently, there are two active TROLL tokens, one built on the Ethereum blockchain and the other on the Solana blockchain, both of which have recently been riding the wave of a resurgence.

The Ethereum-based TROLL, launched around 2023, is the earlier “OG” version. However, its overall market size and liquidity are far smaller than those of the Solana version. It falls into the category of an established token experiencing a revival and has recently begun a strong rebound alongside the market’s recovery.

The TROLL on the Solana chain is even more hardcore. Its official Twitter announced last September that it had reached an agreement with Carlos Ramirez, securing the global exclusive licensing rights to “Trollface”—the most iconic meme in internet history—and establishing a dominant position within this IP.

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币安人生

“币安人生” is a prime example of a purely Chinese-language community. It originated from He Yi’s tweet, “May you drive a Binance car and enjoy a Binance life,” which borrowed the classic “Apple Life/Android Life” meme and quickly went viral across the Chinese-speaking world. Netizens immediately turned it into a token, making it the leading Chinese meme of its time.

Even more interestingly, as the Chinese title of CZ’s new book Freedom of Money also adopted “币安人生,” the token continued to surge on the day of the book’s release. This chemical reaction between “unintentional official endorsement” and “community-driven meme creation” offers a glimpse into the unique growth trajectory of Chinese meme coins.

Driven by spillover capital from the “币安人生” hype, a wave of meme coins with distinct Chinese internet culture traits—such as “哈基米,” “我踏马来了,” and “龙虾”—also saw their prices rise.

This is a noteworthy phenomenon: Chinese meme coins are forming their own context and dynamics. Once this closed loop is established, the efficiency of emotional release far exceeds that of cross-cultural projects.

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Summary

Looking at this round of meme coin hype, we can see that unlike previous instances where a single meme coin drove the entire sector’s rotation, this round’s trend resembles a “free-for-all,” with no clear synergy yet formed.

We have previously published numerous articles tracking current meme coin trends. Looking back and forward, this meme coin surge—occurring against the backdrop of a BTC rebound and improving market sentiment—resembles an “emotional test” within a recovery phase: the market is using these low-value, high-volatility assets to gauge investor risk appetite, while investors seek memories and a sense of security from the last bull market through familiar memes and narratives.

The resurgence of established meme coins serves as both a testament to the enduring vitality of cultural symbols and a barometer of market sentiment. The sustainability of this “renaissance” remains to be seen, and we will continue to monitor developments closely.

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