Download the original meme image to mint NFT - MEME community launches a major attack

The meme coin community MEME has launched a large-scale initiative by uploading original meme images to the platform to create NFTs. This action not only reflects the strength of the Reddit community but also marks a turning point in how short-sellers view meme coins.

Community-Driven Meme Image and NFT Creation

Last night, the meme community uploaded over 820,000 original meme images to generate NFTs. Each uploaded meme image is believed to correspond to the burning of a significant amount of MEME tokens—approximately 8,000 VND worth of MEME per meme. This effort demonstrates the community’s determination to build a blockchain-based meme ecosystem.

Market Reaction – Short Selling and Token Burning

Analysts suggest that uploading original meme images to create NFTs has put pressure on short-sellers. The short volume of institutions like Goldman Sachs exceeds 200% of actual holdings, prompting the community to launch a “token burn” campaign to push prices upward. The decentralized meme miners currently produce about 370,000 NFTs daily, with tokens burned equivalent to the annual energy consumption of three Bitcoin mines.

Meme Culture Goes Beyond Borders

The MEME phenomenon is no longer confined to the online world. At the Brazil Carnival festival, a giant MEME parade float featuring uploaded original meme images appeared, creating a large offline token burn event. This marks the beginning of meme culture becoming a global cultural phenomenon, attracting millions of participants across social media platforms.

Future Outlook for MEME Development

On June 8th, an international meme culture festival is scheduled to take place, where AI meme image creation tools will be integrated into the mainnet. With current prices at extremely low levels, the MEME community believes this is an opportunity for meme culture to become a major cultural uprising. As major traders monitor price charts, millions of users continue uploading original meme images, fueling a widespread movement that no one can stop.

Other popular meme tokens like SUI, BONK, PEPE, OM, SOL, and PNUT are also following this trend, demonstrating the global appeal of meme culture and the strong connection between communities. This is a time for investors to understand that true power does not come from traditional financial institutions but from the unity of the global community.