BANANAS31 may be the next Musk concept coin

"If you can talk to culture, you can change the world," Musk said in an interview with the New York Times in July 2021. In this interview, Musk talked about how he used social media to talk to global culture, especially how to promote some cultural phenomena, including the prevalence of cryptocurrency, through Twitter. So far, Musk's status as a weathervane in the crypto market is self-evident, driving the online spread of technology culture, political culture and popular meme culture. This article will review and explore representative Musk concept coins.

1. The King of Meme, DOGE and Musk's mutual achievement

DOGE originated in 2013. Its prototype is Shiba Inu Kabosu. It is the first cryptocurrency based on Internet Meme. It has now become the oldest, highest-valued and most crypto-representative Meme King. On its development path, Musk can be said to have fueled the flames and achieved mutual success.

On April Fools' Day, April 1, 2019, Musk was elected CEO by Dogecoin fans. He then changed his Twitter profile to "Former CEO of Dogecoin," and the gears of fate began to turn. Since then, Musk has mentioned, commented on, and supported Dogecoin on Twitter many times, calling it "the people's cryptocurrency" and "the most interesting cryptocurrency."

Starting in 2022, Musk, the founder of payment giant PayPal, began to gradually hint at Dogecoin's payment plan. On the variety show Saturday Night Live, Musk once said that "DOGE is the future of currency, an unstoppable financial instrument that will take over the world."

Later, Tesla announced that it would accept Dogecoin as a payment method for some of its products. It also stated that its SpaceX company also plans to accept Dogecoin payments.

After acquiring Twitter, Musk also mentioned many times that the platform will support cryptocurrency payments. He hinted that Dogecoin may become part of the X platform payment system. Since then, DOGE has gradually introduced payment expectations under Musk's promotion.

After Trump takes office in 2024, there will be a wave of cryptocurrency political and regulatory benefits. DOGE has huge positive expectations with the support of the "Godfather of Dogecoin". Nate Geraci, president of The ETF Store, posted on X in November: "The arrival of the spot DOGE ETF application seems inevitable...2025 This is going to be a crazy year.

DOGE has now grown into the most important meme of cryptocurrency and a weathervane for the entire industry. In this process, every interaction of Musk will broaden the public's attention to Dogecoin and the crypto market. On the other hand, the growing global crypto investment community has strengthened his position as an opinion leader and influence in the entire industry. The two complement each other and lead the cultural communication and capital trend of the crypto industry.

2. A squirrel that saved the United States - PNUT

More than seven years ago, mechanical engineer Mark Longo brought home a little squirrel who had lost its mother and gave it a warm name "Peanut". During his growth, Mark Longo used his social media to share countless interesting interactive videos with Peanut, which quickly attracted the attention of hundreds of thousands of fans, and Peanut also became an animal Internet celebrity. But on October 30, at the time of the final battle of the 2024 US presidential election, officials from the New York State Department of Environmental Conservation (DEC) broke into Mark Longo's home without a search warrant and arrested Peanut, and soon euthanized him for illegally raising wild animals. This news instantly caused an uproar on the entire network, and countless netizens expressed strong dissatisfaction and anger, and DEC was also caught in the whirlpool of public opinion.

On October 31, the first tweet was sent on Twitter @pnutsolana, the PNUT token was launched on the chain, and a petition was signed to call on everyone to stand together for peanut. At this time, PNUT became the Meme symbol of the event and began to ferment across the network. As the event spread, Musk and Trump, as the Republican campaign team, quickly built momentum for PNUT and used Meme to increase political influence. On November 3, Musk tweeted that "X is for Peanut", and the official Twitter account of Pug also posted "RIP Peanut" with a picture of Pug and Pug. Musk then directly replied: "Peanut", and Trump and more Internet celebrities continued to follow up and spread the interaction.

After Trump won the election, Pug as a Meme has become a cultural symbol of freedom, democracy and equal rights in the United States, winning a victory for Meme culture. Musk tweeted after the election that "America was saved by a squirrel and Meme coins."

3. Political "Manhattan Project" and Meme Pun-D.O.G.E.

On November 12, 2024, Donald Trump announced the establishment of the "Department of Government Efficiency", referred to as D.O.G.E., and appointed Elon Musk and Vivek Ramaswamy to jointly lead the department. Trump has high expectations for it. He said: It may become the "Manhattan Project" of our time, which will pave the way for his government to dismantle government bureaucracy, cut redundant supervision, reduce wasteful spending, and reorganize federal agencies-which is crucial to the "Save America" movement.

The idea of D.O.G.E. was first mentioned by Musk in a tweet last August. While the project initially seemed like a joke, Trump supported DOGE's initiative to cut government spending, suggesting that the once-fictional department would actually become a real-life U.S. government subsidiary. With Trump's reelection as President of the United States, the past joke became reality.

The highly similar name to DOGE is no coincidence, but a deliberate design. In an interaction on Twitter in August this year, Musk called the name perfect. Musk also unveiled the image LOGO of the Ministry of Government Efficiency with a puppy image, forming a double closed loop with Dogecoin DOGE, strengthening DOGE's benchmark attributes.

Since the establishment of D.O.G.E., many Meme coins have been issued on various chains with this concept, but most of them quickly Rug in the short term. In the end, D.O.G.E. on the ETH chain ran out and occupied a dominant position. In the future, the progress and benefits of the D.O.G.E. department may mainly affect the price performance of the token.

Fourth, Meme that integrates technology and culture—BANANAS31

Musk's SpaceX is becoming one of the greatest companies of mankind, with unlimited imagination in corporate valuation and technological progress. From the Internet connection of the earth to the Mars colonization plan, SpaceX's technological achievements have not only brought economic benefits, but also opened the next door to the universe for mankind.

The meme about SpaceX has become a hot spot for capture and hype in the crypto industry, but most of the targets of this concept have a short life cycle. Until the recent emergence of BANANAS31, it may have the potential to become the first evergreen meme that integrates technology and cultural concepts. At 6 a.m. on November 20, 2024, SpaceX successfully carried out the sixth integrated test flight of Starship S31 at the launch base in Boca Chica, Texas. S31 is the last flight test of the first-generation Starship series, marking that SpaceX will fully turn to the development of the second-generation Starship (Starship V2). This makes S31 a key node in the entire history of Starship development. The final successful flight saved SpaceX from the doubts it had received after several failed missions, demonstrated the gradual maturity of the Starship system, and laid the foundation for its subsequent manned missions. S31 is Musk and SpaceX's "farewell mission" for the first generation of Starship and the beginning of the next space exploration plan.

Interestingly, there is a layer of banana stickers on the outer shell of the S31 Starship, which is SpaceX's tribute to pop culture again. The Internet Meme "Banana for Scale" means using bananas as a standard unit of measurement to show the size of the Starship. The SpaceX team is also sending a relaxed signal to the world in this way: although the space mission is full of challenges, the team is confident in the success of S31. Musk also likes bananas and their behavior of measuring starships, and commented on related tweets.

The technological milestones and humorous online memes of S31 Starship have given many Meme coins a hype angle. In November, a large number of tokens about bananas and starships were launched on various chains, but the tokens that finally ran out this time were not from SOL and ETH, the traditional Meme hotspot chains, but from the BSC chain, which has been silent for many years. The targets of the ETH chain did not have a good price performance. BANANA of the SOL chain had a week-long hype highlight, with a maximum market value of about 65 million, but it is currently close to Rug. Surprisingly, the life cycle of BANANAS31 of the BSC chain has been close to one month, with a maximum market value of 80 million, and is currently stable at a market value of about 50 million. In the past, the life cycle of SpaceX concept targets was generally a few days. BANANAS31 also has a strong community that is still working hard to spread technology and cultural memes with its own understanding. It recently held the "Banana for Scale" Tiktok challenge and even spread it through web2. Perhaps this target has the potential to become the first evergreen meme that integrates technology and cultural concepts in the concept of Musk and SpaceX.

V. Data comparison of Musk concept coins

From the horizontal comparison of market value data, BANANAS31 has the smallest market value, PNUT has a market value of 22 times, and D.O.G.E is 3.5 times; in terms of the ratio of trading volume to market value, BANANAS31 is second only to PNUT recently, which is 2.5 times that of D.O.G.E.; social media data is not much different from PNUT and D.O.G.E data (given that Twitter data will have a certain degree of water, 50k-1m ) is considered to be convergent); the number of holding addresses is better than D.O.G.E..

In summary, BANANAS31 has a similar social influence to PNUT, which has already been listed. Its trading volume/market value is 1/2 of that of PNUT, but it is higher than the average. Recently, it is 3 times that of DOGE. It performs better without being listed on a large exchange. Compared with D.O.G.E., which is also not listed on a large exchange, it has more trading volume and holdings, but its market value is only 1/3 of that of DOGE. It has room for growth. It is difficult to find top narratives among its 50M-level Meme coins. The coin price is stable and the odds are relatively high. At the same time, the community continues to interpret Meme culture and continues to build targets.

VI. Summary

One of the consensuses in this cycle is that Meme coin is a symbolic culture and a powerful weapon for large-scale cryptocurrencies to break through the circle. We should pay attention to and explore its investment opportunities. There are three core points of investment in Meme: excellent narrative; strong community; good chip structure and market value range "hitting point" to buy. Recently, BANANAS31 on the BSC chain fully meets the three investment cores and may become one of the most profitable targets under Musk's concept, which is worth paying attention to.

This article comes from a contribution and does not represent the views of BlockBeats