The astronomical success of memecoins such as Pepecoin and Dogecoin has provided a rare opportunity to test the powers of unshackled PR and marketing. With memecoins, the messaging is 99% of the product, allowing PR professionals much more liberty than usual in their campaigns. However, their success is not solely reliant on clever PR; the founders and creators must also understand their target market and appeal to their interests.
One critical aspect of successful memecoin projects is the choice of mascot. Memecoin mascots have become more influential than traditional commercial mascots due to their connection with popular internet culture. Knowing the meme history and which ones resonate most with your target demographic is vital, as demonstrated by the success of Pepecoin.
Controversy also plays a significant role in the success of a cryptocurrency. The founding father of the crypto industry, Bitcoin, was born out of a rebellious desire to change the global financial system based on a digital currency. Memecoins thrive in this environment of edgy controversy and troll culture, as seen with Dogecoin, which was initially created as a parody of Bitcoin.
Another factor to consider is the importance of short-form content in the success of memecoins. Witty tweets, Reddit threads, and funny memes drive their success, rather than in-depth analyses and visionary market analysis. To go viral, crypto projects need the sharpest marketers and PR professionals they can find, either in-house or through agencies.
In conclusion, the key ingredients to a successful memecoin project include understanding the target market, choosing the right mascot, embracing edgy controversy, and employing sharp PR and marketing strategies. Without these components, memecoins risk being forgotten among the countless others that never make a dent.
Source: Cointelegraph
