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 constantly trigger wealth effects and bring 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 traction this year. If you were an early or mid-stage investor in these leading meme coins, you would have likely made a significant profit. Even some mid-tier meme coins could provide a share of the profits if you were able to 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 decent meme projects, but there are still a few ecosystems that have yet to see quality meme projects, or even any meme projects at all. Thus, these ecosystems will be our primary targets for scouting and searching for the next quality meme asset, with Scroll being a very obvious example.
Scroll: A Meme Oasis and Fertile Ground
Scroll is a top-tier Ethereum ZK Layer2 ecosystem that excels 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, which means that the Scroll ecosystem has maintained a status of being a meme oasis.
Combining our previous viewpoints, ecosystems that have not yet seen meme projects often contain opportunities and are worth close attention and scouting. Therefore, the Scroll ecosystem has currently become fertile ground for the development of the meme track.
In this context, Scroll's first meme project, $Baggor, is taking up the banner and attracting widespread attention.
Can We Expect $Baggor?
In fact, meme tokens need to have certain significance and memorable points. They either represent important events (like People and AssangeDAO) or symbolize a certain culture or narrative (like Doge and Shiba). Such meme coins are often better at capturing investors' minds and stimulating their desire to participate.
First of all, aside from the meaning represented by $Baggor itself, its biggest memorable point is that it is the first meme project on the Scroll chain, which allows it to easily capture users' minds. When Scroll and meme coins are mentioned, users will naturally think of $Baggor. This mental capture will quickly attract a large number of users' attention and, with the support of the meme wealth effect, convert it into investment desire. Therefore, as the first meme project of the Scroll ecosystem, $Baggor is destined to attract attention 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 situation, 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 Meme Cultural Core of $Baggor
$Baggor represents a "self-deprecating culture" that is easy for users to accept. Its name is derived from "beggar," symbolizing the electronic beggars of the Web3 era. This meme originated from Starknet, where the team added a sub-channel called "eBagoooor" in their official Discord channel, using a bug icon to imply that many users who collect 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 users even created various satirical memes to mock Starknet. Subsequently, Scroll's senior researcher Toghrul Maharramov argued with users over airdrop issues and directly referred to them as "Baggers," even using derogatory terms in his posts, which not only put the Scroll team back in the spotlight but also made 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 express dissatisfaction with the project's excessive witch-hunting and arrogant attitude.
Of course, the meme project $Baggor further extends this notion, 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 obtaining 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 targeting Wall Street financial giants. It gathers the strength of digital nomads to counteract the entrenched financial power structures, preventing wealth from being concentrated in the hands of a few large investors 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 jointly stand 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 change.
$Baggor is Still 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 poised to become the most authentic representative project of meme culture on the Scroll chain and is sought after by 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 a collective choice by the Scroll community, users, and $Baggor. Everyone hopes to achieve the "revival" of meme culture in the Scroll ecosystem through $Baggor.
Thus, the Scroll community, early builders, and contributors are motivated to pour substantial resources into $Baggor and turn 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 wealth effects, memes can 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 spread by some communities, and it is currently building momentum. The fact that it has not yet exploded presents a good early opportunity for investors; the singularity may come quickly, and we may currently 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/0x...
$Baggor contract address: 0x17a60bB4649A7Bb885d05c008D7118a5E513d895
Its current market capitalization is still low, making it a worthy investment!
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 be monitored closely.