Memecon 2024: Conference or Con Job?

The first ever memecoin conference is being held in Lisbon next week. It quickly sold out with tickets costing $850 each. The skeptical view is that this marks the top, or at least slowdown, for mememania. Token price action for most leading memes also signalling the same with utility tokens significantly outperforming memes the past month. And while we aren’t a memecoin fund, we keep a close eye on the ebbs and flows of memes given it pushes and pulls liquidity from the broader crypto ecosystem, at least for now.

With that in mind, are memes ded (dead for the unindoctrinated)? We don’t think so, at least not ones in certain genres or those that have managed to garner huge followings and are listed on centralized exchanges.

On the former, let’s take political (PolitiFi in crypto). Think people are finally understanding that most politicians do not act in the best interest of people. One way to demonstrate disdain is own tokens and join the community of unflattering takes on those politicians. This is exactly what the Tremp ($TREMP) and Boden ($BODEN) projects on Solana have done. 

Figure 1 – TREMP v BODEN

Source: Decrypt

Both have been unbelievably successful with token prices up astronomical amounts since launch, with $TREMP recently outperforming as he appears to be the 2024 election frontrunner (and his stand-up comedy act is on fire). Even Anatoly Yakovenko, one of the founders of Solana, tweets regularly about $TREMP.

Chart 1 – $TREMP up 75k x since launch

Source: Tradingview

Chart 2 – $BODEN up 2.4m x since launch

Source: Tradingview

This has morphed into wider communities with even more unflattering takes on other politicians like anti-crypto figures Elizabeth Warren or Gary Gensler or even family members of recent US presidents, like Doland Tremp Jr ($TREMPJR) or Hunter Biden’s Laptop ($LAPTOP).

And let’s not forget dogs and cats, who were the original meme tokens. Dogecoin ($DOGE) was after all created as a joke by Billy Marcus in 2013 that rose to over $50 billion market cap last cycle.

Today the combined market cap of dog and cats memes is over $43bn, with most in $DOGE and Shiba Inu ($SHIB).

Figure 2 – Dog and cat memes are huge


Why have memes morphed into something more than just a $hitcoin? While many are of course looking for the next meme lottery ticket, there are those who become owners of tokens to join communities with similar views or interests. Just jump into a Telegram feed and observe communities posting gifs, talking banter, or just interacting, likely with people from every walk of life in hundreds of countries. Just like message boards back in the early days of the internet. You like gardening, join the Australia Native Plants message board. Although the big difference is some memes can produce face melting gains versus better looking flowers.

And while this concept is likely foreign to many older investors, where you purchase a digital token that represents a “joke’, the newer generation of investors has proven that it can be valuable, both monetarily and socially. We think they are here to stay.


Mark Riccio, CFA
Vikara Capital


Vikara is an open-ended fund, with investors able to add or redeem monthly. Please contact usif you would like to discuss anything further.

Vikara, in Sanskrit, describes the process of change. Its definition is constantly evolving, changing with economic cycles, technology, and geopolitics. It is a transformation of thought or logic, a modification in the direction of travel, an alteration in action or participation. It is one thing to want change, but another to drive it. We believe in a world where commerce doesn’t need intermediaries. Where people are paid directly for content, time, and effort. Where privacy, data and free speech is given, not something to opt-in for.

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