Conversation with 0xWizard: How to catch 500 billion-dollar MEME in the future

Interview: Arain, ChainCatcher

Guest: 0xWizard

*Finishing: *Arain, ChainCatcher

0xWizard is a crypto Chinese KOL with nearly 200,000 followers on X, known as the ‘Meme Wizard’.

Meme can be said to be the main theme running through this bull market cycle, although some people still find it difficult to admit emotionally.

“Bravely participate in the second wave of opportunities” is the tenet of 0xWizard. Based on the comprehensive market recognition from bottom up and the contemplation of the fundamental reasons, he believes that although the bull market has already begun, the on-chain Meme is just getting started.

“There could be another 500 Meme projects worth a billion dollars in the future, but it may be difficult to see another asset worth 50 billion dollars,” 0xWizard said in an interview with ChainCatcher. However, the first-level and second-level gameplay of Meme are completely different, and for some Meme projects with high valuations that are about to enter the secondary market, he recommends watching them before taking positions."

In the interview, 0xWizard also shared his methodology for capturing new tracks and new narrative judgments, including the “Three Laws of Bull Market Engines” and the nature of tracks, and he discussed several popular AI memes and meme investment experiences.

The following is the content of the interview:

I am better at new narrative tracks and semi-investment due to my product background.

ChainCatcher: What did you do before entering the cryptocurrency industry?

0xWizard: I worked as a product manager in an Internet company, responsible for B-end and C-end product design. Later, I started my own business and developed Internet-related products. In 2017, I noticed the emerging field of cryptocurrency showing unique development trends, and I had friends discussing related topics. With my own interest and optimism about its development potential, I officially entered the cryptocurrency industry.

Due to my past work experience, I am good at judging new tracks and narratives, as well as making investments of a first-tier or second-tier level. I think the selection, inclination, and fundamental basis for making internet products are consistent with choosing the right track. However, it is not about copying the ideas of product development into cryptocurrency investments, but there are many commonalities between the two. For example, when developing a product, it is important to determine whether the users really need it, rather than just thinking it is good from a subjective perspective. It is important not to fall into the trap of top-down imagination when designing, but to consider whether the market accepts it. Investing in the cryptocurrency market is the same. The key to judging whether a new track or project is feasible is to look at the market’s acceptance. For example, the AI track has many targets with valuations of over hundreds of millions of dollars in both primary and secondary markets, which shows that the market recognizes it as a trend. Therefore, when making investments, I tend to first understand and observe the actual choices of the market.

ChainCatcher: Please share your most successful and unsuccessful investments in the cryptocurrency world.

0xWizard: There are many successful investment cases. I just started playing on-chain games and algorithmic stablecoins in the circle, and I made about 100 times the profit in about a month. Later, I participated in projects like ORDI, with a capital investment of about ten times the return, and projects like ACT achieved nearly a hundred times the return.

Major setbacks leave a deep impression. Therefore, I suggest everyone to avoid leveraging in the cryptocurrency market, whether it’s contract leverage or regular leverage. Leverage has been the source of major setbacks for me. Sometimes, the greedy side of human nature emerges, or the unwillingness to accept profit retracements, always thinking of quickly recovering losses, which prompts oneself to leverage or engage in contract trading.

Every bend in the road may be necessary for investors. You have to experience it yourself to truly understand what to do and what not to do in the ups and downs of the investment process.

ChainCatcher: What is your main criterion for judging whether some tracks may be false propositions?

0xWizard: On the one hand, it is crucial to look at the market recognition from the bottom up. As I mentioned before, it is not enough to subjectively imagine a certain track to be good. We need to see the market’s real reaction. For example, in the AI track, many related targets with valuations of over one billion US dollars have emerged in the primary and secondary markets. This is the market’s real recognition that it is a trend worth paying attention to.

On the other hand, we also need to consider the most essential reasons behind the track. For example, what is the fundamental purpose of the cryptocurrency circle, and which elements are the most successful underlying parts? From these perspectives, we can evaluate whether a track can succeed. Regarding the assets in the cryptocurrency circle, I have summarized several judgments into the ‘Three Laws of Bull Market Engines’.

“Old Technology, New Gameplay”: The old saying goes, “long slopes and thick snow”, to see if this technology has enough accumulation, like on-chain assets actually rely on the advantages precipitated by previous DeFi and other infrastructure, there is a foundation for development;

‘New Track, New Hope’: If it is a completely new concept, the market’s imagination of its valuation ceiling will be greater, just like the previous concept of the metaverse. Even if the product may not meet the standards of the traditional Internet, it can still achieve a high market value during a bull market because it proposes new trends and hopes. For example, during the bull market in 2020-2021, projects like SAND had poor products but experienced significant market value growth due to new trends and hopes.

“Generate new assets in batches”: It is difficult for a single money-making asset to form a shocking force, and only many related assets can be profitable, which will form a strong attraction, such as different on-chain projects can make investors profitable, which will attract more people to participate.

Comprehensive market recognition from the bottom up and thinking about the essence of the reasons, it is not easy to go wrong to judge the track, even if there are occasional setbacks, it is only a temporary situation on a small branch, which does not affect the judgment of the overall track trend.

ChainCatcher: You mentioned “some of the most essential reasons”, do these most essential reasons all point to the same place?

0xWizard: The answer to this question lies in the question of what ‘cryptocurrency’ is actually doing. I believe it is mainly doing the following things, because it does them ‘ten times better’ - Silicon Valley has a startup methodology that when something is done ten times better than others, there is a reason for everyone to adopt it, which can lead to great success.

The first is asset issuance. In traditional industries, asset issuance faces many legal, compliance and process issues, which are extremely difficult, for example, it is easy to involve illegal areas in doing asset-related affairs in China, and even if there are new third boards, NASDAQ, etc., it is also difficult to transform enterprises into assets. Although there may be a large number of junk assets, this rapid asset issuance capability has brought the native activity of the currency circle, from IC0 to defi, inscriptions, on-chain assets, etc.

The second is regulatory arbitrage. I remember a very interesting project called Web3 in Nigeria. Nigerians in the United States buy shopping cards through Crypto and send them back to their families in Nigeria. Although the intermediate fees can be as high as 10-20 points, they are still willing to do so because Crypto provides a way for regulatory arbitrage, bypassing the foreign exchange controls of the Nigerian authorities.

The third is that speculative demand is dominant. Speculation is an important part of the native demand in the currency circle, similar to the stock industry, speculation in the currency circle is a neutral word. The currency circle has formed a large casino with 24-hour global flow, and people are constantly engaged in speculative transactions, such as speculative dogs, speculation with leverage ®, ether-based POS and other operations, all of which serve speculation. DeFi’s TVL and fees grew fast in the last bull market, but declined during the bear market, which shows that what is really happening in DeFi in the cryptocurrency circle revolves more around speculative demand, rather than changing the world and moving traditional financial assets to the chain as previously expected.

There may be 500 billion-dollar memes in the future that should focus on AI memes

ChainCatcher: You mentioned earlier that meme has become the new main line of this round of bull market, so what are your expectations from the perspective of the primary and secondary markets?

0xWizard: From the perspective of the secondary market, Meme market definitely experiences peaks and valleys, generally following the overall market trend. It is actually very difficult to accurately predict specific price fluctuations. I have made many prediction errors before, for example, I originally thought Meme would rally first, but in reality, for coins like XRP, based on previous experience, the rally usually occurs at the end of the market cycle. However, this time it started rallying in the first wave after Trump was elected.

However, it can be determined that it will definitely rise, and then it is highly likely to fall, and the decline may reach 80% or even 90%, which is a common situation. During the rise, the market value of some Meme coins may be pulled to several billion US dollars, or even tens of billions of US dollars.

From the perspective of the primary market, I think the meme market is not bullish and bearish, it will always exist. Even before the bull market, we could see meme projects with a market cap of hundreds of millions or even billions of dollars. Although it has its own small cycle, it will not have a significant bull-bear cycle like the broader market, but it may behave more wildly during the bull market. In the future, there may be more than 500 meme projects with a market value of more than one billion US dollars, even if the market value of a single project is not particularly high, it may be billions of US dollars or tens of billions of US dollars, and from the perspective of on-chain carrying capacity, it is very possible to have memes with a market value of between one billion and two billion US dollars, and this is already happening on different chains, such as Solana, Base, etc.

Due to the limited market value space of on-chain memes, if the price is high before listing, it is recommended to wait for it to circulate to the secondary market and buy it after the price adjustment, because the valuation space of the secondary market is larger, and the high valuation of the primary market may be difficult to support subsequent increases due to insufficient liquidity.

ChainCatcher: Why have you been pushing AI Meme all the time?

0xWizard: First of all, cryptocurrency investment relies on imagination. In the past, assets speculated in the cryptocurrency market required sufficient imagination. Like the previous DeFi, the narrative was about the revolution of traditional finance, as well as the concepts of NFT and metaverse, claiming that in the future, everyone will live in a virtual world. These stories are particularly imaginative. But now, most people have a basic understanding of NFT, and even Facebook itself hasn’t fully implemented the metaverse concept. If DeFi wants to succeed, it needs to present actual data. Currently, the most imaginative aspect in the cryptocurrency market, in my opinion, is AI. It’s hard to find anything else that has such appeal.

Next, AI has real value. Just like DeFi has actual transactions occurring, the TVL (Total Value Locked) data reflects its value, and AI is the same. Some AI agent projects are already generating income, such as Virtuals; many AI projects are being widely used, such as ai16z; some AI projects already have substantial traffic, like ACT, GOAT, and other Meme projects. Even some AI agents, as knowledge aggregators, are already better than many human efforts. They integrate corpora to serve everyone - this is actually a productivity-level improvement, not just empty slogans. It can be seen that they are doing something and can bring changes to cryptocurrencies.

Therefore, AI is not only imaginative in the currency circle, but also can be implemented, and the implementation part can further drive more applications to land. Based on these, I believe that AI is the biggest trend in the cryptocurrency industry in 2025, without doubt, other trends are not in the same level as it is.

ChainCatcher: You have mentioned the ecosystem of the ACT project multiple times. Can you share your unique understanding of it?

0xWizard: ACT has a unique niche. It is a meme that appears at a specific time stage and represents a tokenization of the idea of the future of AI. What it promotes, such as providing support for some AI agents, allowing them to do more experiments and innovations, and bringing them together to make platforms like ACT swap, so that everyone can tokenize and interact with them on an interface by entering prompt commands, this whole process is a very interesting presentation of the integration of AI, Crypto and social media, and it is a very imaginative form of AI development in the future.

Moreover, ACT is currently the only project in the AI Meme that has been listed on a large centralized exchange, so its advantages are more obvious. Even if other AI meme projects such as GOAT, AI16Z, and Virtuals are listed on secondary exchanges in the future, I think ACT will still be one of the most important targets. After all, in this circle, everyone develops together, is recognized by the market together, and gets more liquidity together, and there will be better performance as a whole, just like the saying goes, “The lone traveler is fast, and the crowd traveler is far”. So taken together, ACT has a unique position and importance in the field of AI memes.

ChainCatcher: Besides ACT, do you have any other projects in the AI Meme track that you are optimistic about and can share?

0xWizard: GOAT was a project that brought heat to this track in its early stages and has gained a certain consensus. It is generally recognized by everyone. There are also projects like ai16z and Virtuals that are platform-based, and they are worth paying attention to as they have a large number of AI agents using them for production and other operations.

The advantage of platform projects lies in network effects. Once they have achieved scale and influence, it becomes difficult for others to challenge them. For other pure AI agent projects, the competition they face will be more intense, with faster iteration speed and relatively lower moats.

Therefore, if you want to make a more stable investment, platform projects such as ACT, GOAT, ai16z, and Virtuals will be a better place to consider.

Huge differences in the first and second level of Meme gameplay are not suitable for ordinary investors in hot markets.

ChainCatcher: What are the specific differences in the strategies that need to be adopted when investing in memes in primary and secondary markets? Can you share your methodology?

0xWizard: When participating in Meme investments in the primary market, the market value should be the key consideration. It is necessary to judge based on experience at what market value level it is suitable to participate and at what stage it is appropriate to participate. For example, when the market value of certain value targets drops from over 100 million to between 25 million and 30 million, with a drop of about 80%, if it meets personal investment expectations and the “strike zone”, it can be considered to buy a small amount of positions. The chip accumulation process of primary market targets is relatively fast, which may only take a few days or a week. As long as the market maker does not sell, there is a possibility of a subsequent rally, and it will cooperate with narrative, community enthusiasm recovery, and other situations for secondary rallies and operations. Even if there is a subsequent decline after the rally, it may start again later.

In the secondary market, it is necessary to adhere to the logic of chip trading. Investors need to learn the gameplay of the secondary market, such as the Wyckoff Theory and other technical analysis methods. It is not necessary to be proficient, but one cannot be completely ignorant. Otherwise, one may panic due to price fluctuations and fail to understand the reasons behind them. In the secondary market, there is a process of chip accumulation, which is the accumulation stage before entering the distribution process of a rally.

In addition, the secondary market pays great attention to the speculation of new assets and new concepts. Taking the AI track as an example, after the emergence of a large number of AI agent projects, targets such as ACT, based on various factors, are very likely to have a sharp market in the secondary market. Compared with projects with a market value of nearly $1 billion such as Virtuals and ai16z, they have limited funds in the primary market, and there is relatively little room and significance for continuing to double in the secondary market, so it is necessary to consider these factors comprehensively to understand and grasp the investment logic of the secondary market.

ChainCatcher: You mentioned that investors should learn to distinguish between potential targets and hot stocks. So what indicators can help us differentiate between the two?

0xWizard: I think there are a few things we can look at.

The first is the narrative of the subject itself and the state of the community. At the narrative level, for example, some AI-related projects have innovative AI-encrypted interaction patterns or represent unique trends. At the community level, it is necessary to pay attention to whether there are loyal fans who continue to build when the price falls, carry out secondary creations every day, and remain active on various platforms. At the same time, the community should not be limited to the Chinese or English community, but must be popular in both Chinese and English, so that its subsequent development ceiling will be higher, and narrative and community can be regarded as one of the basic elements of judgment.

The second is the capital side. You should pay attention to the chip situation, judge whether the dealer has made a profit and leave the market, and hand over the chips to the big bank. You can use some chip analysis methods, such as to see if the front row is a big loser, if so, it may be difficult for the target to rise again. If the dealer still has a large number of unused chips, it indicates that he has the motivation to continue to collect chips and perform operations such as a second pull. Based on the trends mentioned above, the state of the community, and the financial chips and funds in the future, we can roughly judge whether a target is a potential target.

Overall, the hot market is more suitable for professional players in the on-chain game who have the energy to participate early and can enter with tens of thousands or hundreds of thousands of US dollars and sell for profit when it rises to a certain extent. They are good at participating in the first wave of the market from the internal market to the beginning of the heat. However, for most ordinary investors, it is recommended to pay more attention to and participate in potential targets, but this needs to be judged comprehensively based on their own actual situation.

ChainCatcher: In the process of investing in the cryptocurrency circle, you must have mastered a lot of information to assist in decision-making, can you share some useful sources of information acquisition?

0xWizard: The sources I often use to obtain information are quite diverse. Firstly, there are data websites similar to GMGN, which release daily popular rankings covering various Meme and related content. I suggest checking at least twice a day to record new targets, observe their subsequent price changes and chip structure changes, and then make comprehensive judgments on whether to invest based on their trends and community conditions. This point is crucial.

The second is some tools, some of which can push hot bots, and some of which recommend dozens of relevant information every day, of course, users need to have the energy to go to Telegram to filter and view.

ChainCatcher: How to Filter and Assist Investment Decisions in the Face of Massive Information?

0xWizard: That’s really a critical question. When there is more information, screening is important. First of all, you have to judge your own investment goals and risk tolerance. For example, some information may look tempting, but if it corresponds to more investment risk than you can afford, then you have to consider it carefully.

From the perspective of the information obtained from those targets, as I mentioned earlier, we need to analyze whether its narrative is innovative, whether it has development potential, whether the community is active and cohesive, and whether both Chinese and English communities are taken into account, as well as the funding situation. We cannot blindly follow others’ opinions and must have our own judgment logic.

When applying it in practice, you must understand that investment is risky, and even if you do more information collection and analysis in the early stage, there may be mistakes. I suggest that when you first start participating in investment, you can try it with a small amount of money, just pay tuition fees to accumulate experience, and then gradually adjust your investment strategy when you are familiar with it and have a certainty. At the same time, it is necessary to be clear about your investment style and know what types of investments you are suitable to participate in, such as hot spots are suitable for professional and energetic early participation of “P juniors” (referring to the players who played PVP in the early days of Meme, and Meme early refers to the time when the market value is very low and the internal market has just been issued), they can make a profit in the first wave of the market, but ordinary investors may be more suitable to pay attention to potential targets, but in the end, it is necessary to make a comprehensive judgment according to their actual situation.