With the bear market in full swing, we need memes to ease the pain. Of course, we also like them during the frenzy of bull markets. And as a means of distraction during dull, sideways periods. We always crave memes. But we need them the most during bear markets.
Crypto memes are an asset on places like Twitter. As crypto bros and gals, we might not yet have seized the means of production – we have seized the Memes of Production! And yes, that’s a meme too and only partly a wordplay to everyone familiar with NFTs. After all, we have the technology to mint our memes these days (In principle. Is this already happening? I can’t help but wonder what if… what if the guy who coined the term HODL could have minted his invention and put it up for sale on OpenSea… and suppose he would have collected a commission every time his HODL NFT was sold. He would not even have had to hodl the meme to get rich. But I digress.)
Crypto memes make us laugh together, poke fun at each other or ourselves, nod in agreement together, or laugh-to-keep-from crying together. They form bonds within communities but are also used as weapons against other communities. Let’s kick off with the bear market memes.
The Best Crypto Bear Market Memes
Hide the pain Harold
By now, every crypto investor knows the pain of red candles, day after day, week after week. ‘Hide the pain Harold’ too knows this feeling all too well but manages to keep up the appearance of a happy camper. Except that his smile shows some cracks in the veneer…
First time?
This one is about the peculiar form of bonding (pun intended) that happens when the OG’s of the crypto market welcome a new generation of traders to the sorrows of a crypto crash.
‘First time’?
It’s a delicate blend of feelings: it’s the old guard wanting to console the rookies, while also needing comradery themselves: they too feel a sting, even though they are less beaten down than the fledgling hodlers they seek to comfort.
Buying the dip that keeps on dipping
The line Buy the dip existed in financial markets long before crypto. This lends credence to the adage but doesn’t take into account that crypto markets are prone to dip further than traditional markets. Part art, part science, buying the dip is also simply an act of bravery.
‘Only what you can afford to lose’
Before we got into crypto we were advised countless times by the non-financial advisers to only invest what we are able to afford to lose. We nodded politely and betted the farm. Right?
McDonald’s
Michael Saylor of MicroStrategy is leveraged long Bitcoin but is a good sport during downturns. The McDonald’s crypto meme comes in handy to alleviate worries from onlookers and fellow hodlers.
During the June 2022 crash, a more grim version of the McDonald’s meme surfaced. Against the backdrop of the famous fast food place, we see the victims of the bloodbath on the cross. We can only hope that the markets still have some kindness left, so that Mashinsky, Zhu Su and [unknown guy on the right] will still climb down and hand in their application letter to flip burgers.
The Best Bull Market Memes
Bull market memes unsurprisingly have a different vibe than the bear market ones. The theme here is not resignation but glee and being swollen with pride: ‘we’re all investment geniuses!’ Or,…
Erik started as a freelance writer around the time Satoshi was brewing on the whitepaper.
As a crypto investor, he is class of 2020. More of a holder than a trader, but never shy to experiment with new protocols.
