Memecoins like $DOGE and $SHIB were dismissed as jokes—until they weren’t. From a conspiratorial viewpoint, memecoins may have been the most important crypto experiment of all.
Unlike $BTC or $ETH, memecoins removed fundamentals entirely. No roadmap, no utility, just narrative and emotion. This made them ideal tools to study how retail investors react to hype, influencers, and viral momentum.
The explosive rise and collapse of tokens like $SHIB, $PEPE, or $FLOKI demonstrated how quickly belief could be manufactured and monetized. Charts replaced logic. Community replaced analysis.
In this theory, memecoins were never about profit. They were about mapping emotional contagion at scale.