「Wen's Coin」 Steals the Show in a Feud Between the US and Ukrainian Presidents, PWEASE Quickly Reaches a $35 Million Market Cap

Summary: Have you said thank you today?

In the recent dull market trend, the craze for Memes has also faded quite a bit. However, in Pump.fun's token born on March 3rd, one token still maintained a market cap of over $1 million within 24 hours. This outstanding graduate is $PWEASE. After two days of trading and hype, the market cap reached as high as $35 million, currently sitting at a market cap of $25 million. Why did it become the most powerful Meme recently?

“Have you said thank you once?” In response to Vice President JD Vance's question, Ukrainian President Zelensky sighed in despair, giving birth to the Meme Pwease. The original meaning of Pwease is a cute or baby-like version of "Please," often used in informal and playful contexts. Opponents argued that JD Vance's inquiry was offensive and patronizing to President Zelensky and the Ukrainian people. Therefore, its large-headed baby image quickly went viral online.

Many people have high expectations for $PWEASE, comparing it to $BODEN issued around the same time last year. Both are Memecoins based on political figures, one highlighting the elderly image of former U.S. President Biden, and the other infantilizing U.S. Vice President Vance. $BODEN reached a market cap of $750 million, leading to the belief that $PWEASE will also perform well.

However, some Degens believe this is just a flash in the pan of daily Doges. In the current market situation, they argue that buying new Memecoins should target tokens with a market cap of less than $5 million, rather than those above $20 million.

Polymarket has also followed this trend by launching multiple votes related to Trump, JD Vance, and Zelensky, using the big-headed JD Vance Meme and incorporating words similar to "Pwease" like "Apowogee" and "vewy" in the voting titles.

A few days after raising $100 million, the crypto angel investment platform Echo, founder Cobie, also changed his profile picture to the baby-faced Vance, having previously struggled with wanting to change his bob the builder avatar.

According to Know Your Meme, the creator of the $PWEASE meme image is the 31-year-old 7/11Truther "DaveMcNamee3000." The initial concept of this meme was a tweet by the Truther in October 2024, stating, "For every 100 likes, I will make Wanze's face more like a cherub's apple" accompanied by an image of Wanze with a larger P on his cheek. This tweet received a total of 237,000 likes within three weeks.

Subsequently, the cherub's apple image of Wanze quickly spread and took on various forms. Following the meeting with Ukrainian President Zelensky, Wanze's cherub image became even more ingrained in people's minds. Prior to this, Nick Tomaino, the founder of the cryptocurrency investment firm 1confirmation, stated on social media that JD Vance, at just 39 years old, had a political style that was completely opposite to the current "elderly politics."

In addition, the standard practice of Memecoins is to create a Memecoin for any relevant figure once a meme becomes popular. Dave was no exception, as internet users created Memecoins for both him and his dog, but none performed well. The highest market cap among these was only $480,000, and Dave, feeling overwhelmed by the pressure of Crypto, decided to sell all his tokens and donate the money to the LGBTQ organization "Trevor Project" as a protest against JD Vance's political views.

Whether this is a collective FOMO of Degen who have not seen Gold Dog for many days in an extreme bull market or a cultural movement representing ideological conflicts is still unknown. However, $PWEASE has indeed shifted the market's focus back from celebrity coins to the essence of meme culture. Of course, the above content is not investment advice, and in extreme market conditions, always cherish your chips.