CryptoQuant CEO Ki Young Ju said memecoins are not just speculative assets but manifestations of deep-rooted human psychology that have permeated human cultures throughout history.

Ju argued that these digital assets align with Carl Jung’s theory of the collective unconscious, which states that recurring symbols and narratives shape human culture and behavior.

Ju sees meme coins as modern digital archetypes that influence financial markets, much like myths, art, and religious symbols have shaped societies.

“Meme coins thrive because they tap into universal patterns of belief and identity. Successful crypto entrepreneurs are those who create compelling narratives that people believe in and rally around.”

Two categories

Ju classified memecoins into two primary categories based on their psychological roots — animal-themed tokens and celebrity-based memecoins.

Animal-themed tokens, such as Dogecoin (DOGE), Shiba Inu (SHIB), Bonk (BONK), and dogwifhat (WIF), reflect shamanistic traditions in which animals serve as spirit guides.

He suggested that these tokens resonate with people on a subconscious level, much like ancient cultures that revered animals as symbols of strength, loyalty, and wisdom.

On the other hand, celebrity-based meme coins, including Official Trump (TRUMP), Mother Iggy (MOTHER), Official Melania Meme (MELANIA), and Caitlyn Jenner (JENNER), draw from hierarchical structures where figures of influence command attention.

Ju likened these tokens to religious icons or political leaders, whose followers elevate them to near-mythical status.

Memecoins and Art

Beyond their psychological appeal, Ju compared memecoins to the art market, where value stems not from the intrinsic function but from the strength of a cultural narrative.

“People don’t buy paintings just because they’re made of paint and canvas. They buy them because of the story behind them. The same applies to meme coins.”

Despite skepticism from traditional investors, memecoins continue to thrive, with thousands of new tokens launching daily. Their growing popularity highlights how collective belief, rather than fundamental utility, drives value in certain parts of the crypto market.

Ju’s analysis suggests that memecoins are more than just digital fads. Instead, they may represent a financial extension of age-old human instincts — seeking identity, storytelling, and shared belief systems in an increasingly digital world.

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