In recent months, the overall performance of the cryptocurrency market has been stable, with both Bitcoin and altcoins in a state of fluctuation, showing no signs of breaking previous highs. However, against this market backdrop, meme coins have continued to wave the flag, causing this seemingly mild bear market to trigger a wealth effect, bringing many surprises to the market.
In this market cycle, many notable meme coins have emerged, such as PEPE, Turbo, Dogwifhat, TRUMP, which have been popular since last year, as well as BOME, DEGEN, DOGS, and NEIOR (First Neiro On Ethereum), which have only gained popularity this year. If you were an early or mid-stage investor in these leading meme coins, you would have likely made significant profits. Even some mid-tier meme coins can yield returns if you can spot them early and participate keenly.
However, once these meme coins reach a certain market capitalization, it becomes increasingly difficult to achieve high returns within the same meme coin. Therefore, we need to continuously search for new quality meme assets. In fact, the vast majority of on-chain ecosystems already have some good meme projects, but there are still a few ecosystems that have yet to produce quality meme projects, or even lack meme projects altogether. Thus, these ecosystems will be our primary targets for scouting and seeking the next quality meme asset, with Scroll being a clear example.
Scroll: A Fertile Ground for Memes
Scroll is a top-tier Ethereum ZK Layer2 ecosystem, excelling from technical, narrative, and financing perspectives. However, for the Scroll ecosystem, it has not seen any meme projects emerge during the past several meme seasons, maintaining a status of being a meme-free land.
Combining our previous views, ecosystems that have yet to produce meme projects often contain opportunities and deserve close attention and monitoring. Therefore, the Scroll ecosystem has currently become a fertile ground for the development of meme tracks.
In this context, Scroll's first meme project, $Baggor, is taking the lead and attracting widespread attention.
Can we have expectations for $Baggor?
In fact, meme tokens need to have certain meanings and memorable points. They either represent significant events (like People and AssangeDAO) or embody a certain culture or narrative (like Doge and Shiba). Such meme coins are more likely to capture investors' minds and stimulate their desire to participate.
First of all, aside from the meaning represented by $Baggor itself, its most memorable point is that it is the first meme project on the Scroll chain, which allows it to easily occupy users' minds. When Scroll and meme coins are mentioned, users will naturally think of $Baggor. This mental occupation will quickly attract the attention of a large number of users and, with the support of the meme wealth effect, translate into investment desire. Therefore, as the first meme project of the Scroll ecosystem, $Baggor is destined to be highly regarded and has the potential to become a leader.
From the perspective of the Scroll chain, it entered the market relatively late and missed the previous meme waves. In this case, the Scroll ecosystem needs its own meme culture to enhance community cohesion and centripetal force. The emergence of $Baggor just fills the gap in meme culture within the Scroll ecosystem.
The Core of $Baggor's Meme Culture
$Baggor represents a "self-deprecating culture" that is easily accepted by users. Its name is derived from "beggar," symbolizing the electronic beggars of the Web3 era. This meme originated from Starknet, where its team created a sub-channel called "eBagoooor" in their official Discord channel, using a worm icon to imply that many users who farmed airdrops are electronic beggars, which sparked dissatisfaction among community users.
As events unfolded, many users began to interact with Starknet and its team in a "polite inquiry" manner, and some even created various satirical memes to mock Starknet. Subsequently, Scroll's senior researcher Toghrul Maharramov argued with users over the airdrop issue, directly calling them "Baggers," and even used derogatory terms in his posts, putting the Scroll team back in the spotlight and making the term $Baggor popular again. Later, Scroll issued Gitcoin badges representing real identities, which were also met with skepticism from the community.
In fact, the popularity of the term $Baggor further reflects the project's helplessness in screening real users during airdrops, while community users expressed dissatisfaction with the project's excessive scrutiny and arrogant attitude.
Of course, the meme project $Baggor further extends this, representing a more positively connoted image of digital nomads, symbolizing flexibility and rebellion against fixed financial models, advocating for free migration and exploration in the new digital economy.
In the crypto world, digital nomads often find themselves at the end of the information chain and at the bottom of the wealth pyramid, lacking a sense of identity. As the most vulnerable group, they face oppression from large investors, whale players, VC investors, and even projects, making their situation difficult. Especially in a generally declining market, investors' situations become even more challenging, and the difficulty of gaining returns increases further.
Therefore, the meme culture of $Baggor essentially represents a kind of awakening and rebellion, akin to the revolutionary sentiment of retail investors striking back at Wall Street financial giants. It gathers the power of digital nomads to counteract the entrenched financial power structures, ensuring that wealth is no longer concentrated in the hands of a few large holders or VC investors. This decentralized power structure reflects a new democratized financial culture, encouraging everyone to participate in decision-making and wealth distribution.
Based on this concept, $Baggor is creating a brand new digital community for digital nomads, hoping to rely on the Scroll ecosystem to stand together at the top of the crypto wealth pyramid in a fairer manner. As a new wealth value orientation, $Baggor is calling on digital nomads in the financial field to jointly promote a new round of attention, social, and wealth revolution, establishing a new financial order. In this system, everyone can obtain income more fairly and collectively defend and amplify their wealth.
The egalitarian movement sparked by $Baggor in the crypto world redefines the identity of "beggar," which carries negative connotations, endowing it with new cultural and spiritual significance, helping them transition from passive "marginalized individuals" to active "self-definers." This identity reconstruction not only changes personal self-perception but may also trigger broader social changes.
$Baggor is on the Eve of Explosion
From the cultural attributes and spiritual core of the $Baggor project, it is expected to become the spiritual cultural totem of the Scroll ecosystem's meme system, building a strong and cohesive community. Any user holding $Baggor will become an initiator, promoter, and beneficiary of this attention and wealth revolution.
$Baggor is likely to become the most authentic representative project of meme culture on the Scroll chain, attracting various players on Scroll. The lack of meme culture in Scroll will provide fertile soil for the development of $Baggor. $Baggor itself has the potential to become a leader, which will be the result of the joint choice of the Scroll community, users, and $Baggor. Everyone hopes to achieve the "revival" of the Scroll ecosystem's meme culture through $Baggor.
Thus, the Scroll community, early builders, and contributors are all motivated to invest substantial resources into $Baggor, aiming to shape it into a phenomenal leading meme, allowing everyone to share in the delayed meme dividends on Scroll.
From this perspective, $Baggor is bound to explode.
From the perspective of the wealth effect, memes often bring unexpected returns to many investors. As long as one becomes a mid or early-stage investor, there is hope for writing myths of thousands or millions of times. $Baggor has just been launched and is being wildly circulated by some communities, and is currently building momentum. Its lack of explosion at this moment presents a good early opportunity for investors; a singularity may arrive quickly, and we might just be on the eve of an explosion.
It is worth mentioning that $Baggor has already burned 100% of its LP, with the burn record:
scrollscan.com/tx/0xe7598c3443c7c3a4db1fc19f042cb3bd9835352ae802ca3774331d1174657733
$Baggor contract address: 0x17a60bB4649A7Bb885d05c008D7118a5E513d895
Currently, its market capitalization is still low, making it a golden dog worth chasing!
Additionally, as the earliest meme token in the Scroll ecosystem, $Baggor may provide airdrops to community users of quality projects within the Scroll ecosystem to facilitate early launches, so top projects in the Scroll ecosystem can consider laying low for a while.