Memecoin's Go to Market (GTM) Strategy: A New Weapon to Boost Crypto Popularity

Bittime - The crypto industry is witnessing a new marketing strategy, namely using memecoins to attract new users and products. This strategy started from observing the increasingly popular memecoin trend.

New Marketing Strategy

The old strategy was to build the product first, then build the user community. However, this latest marketing strategy actually reverses this order.  

Instead of building a product first, new crypto projects can now capitalize on the momentum that existing memecoin communities have. This strategy involves identifying active and passionate memecoin communities, then building products that integrate with those memecoin tokens.

Check Today's Crypto Market:

Leveraging Memecoin's User Base

By launching projects integrated with popular memecoins, new applications or infrastructure can capitalize on the token's user base. Memecoin token holders will increasingly feel the benefits of their assets.

Sample case:

• BONKbot:   A Telegram trading bot on Solana that was born from the $BONK token, a Solana memecoin that was distributed for free (airdrop) at the end of 2022. An independent team then launched this trading bot, which allocates a portion of trading fees to buy and burn BONK tokens. This creates a profitable symbiosis between bots and token holders. BONKbot's daily trading volume recently even surpassed $200 million, surpassing Base's daily volume which is around the same figure.
• Shibarium: This strategy also applies to infrastructure projects. For example, the launch of Shibarium, Ethereum Layer 2's $SHIB token. Shibarium functions as a “sink” of SHIB tokens by using transaction fees to burn SHIB tokens. By integrating the token into L2, this strategy enables the existing token holder community to overcome the initial challenges of launching a new L2.
• Berachain: Berachain, a bear-themed EVM compatible blockchain that launched its testnet last January, was also born from NFT memes. SmokeyTheBera initially started an NFT project called Bong Bears in 2021 and over time, managed to build a solid community and now an active developer and user base.

Also Read: What is the Meme Economy, and What Are Examples Like?

Memecoin Community: Driving Factor of GTM Strategy

The high involvement and enthusiasm of the leading memecoin community is the reason for utilizing the Go to Market (GTM) memecoin strategy which is predicted to become increasingly popular. New crypto projects can leverage memecoin's existing user base to attract attention. 

For example, Dracula, a short video application, and Perl, a market prediction game. Both accept $DEGEN tokens as a means of payment, capitalizing on the momentum the token community has (with over 44,000 active wallets as of March 2024). 

Increased usage and potential increase in token value can drive a positive cycle. That way, user interest in tokens and applications integrated with these tokens both increases.

Also Read: AI Tokens Soar, While Meme Coins Start to Sluggish

Memecoins Born from Products

In addition to leveraging the existing memecoin community, some projects take the opposite approach, namely prioritizing product development, then launching (or associating with) a memecoin to attract interest in the project. 

For example, contributors associated with Jupiter, a decentralized exchange aggregator on Solana, launched the $WEN memecoin in January 2024. The token was distributed for free to more than 1 million wallets that had exchanged more than $5 on Jupiter. As the first token to be launched via Jupiter's LFG Launchpad, the presence of $WEN also increases interest in the platform.

Also Read: Top 8 Memecoins on Solana for 2024!

Considerations in Using This Strategy

Crypto projects that are interested in using this GTM strategy need to consider several things, namely as follows.

• Distribution potential of different memecoin communities.
• Compatibility between memecoin token holders and the project's target audience.
• The degree of existing integration and the level of saturation in the ecosystem (will the 101st app to accept a particular memecoin get as much attention as the 100th app?).

Also Read How to Buy Crypto:

Benefits for Memecoin 

This strategy of course also benefits memecoin itself. The memecoin development team can take steps to attract interest and form partnerships with other projects to integrate with their token.

The use of memecoins as a GTM strategy bears similarities to other Web3 growth strategies involving tokens, such as free distribution of tokens to certain community members or users of competing products. This tactic is made possible by blockchain open data, which can be leveraged for more granular targeting.

Although many consider memecoin trading to be gambling or a strange form of financial entertainment, its popularity and intense community suggest that memecoins can be an interesting part of a GTM strategy.

Check Crypto Prices Today:

How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

What is a Meme Coin and Why is it Popular?

What is a Book of Memes (BOME)? Latest Solana Token Hype Memes

Slerf, Memecoin Loss Before Launch and Memecoin Trends, Potential Profit or Loss?

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.