The mechanics of memecoins reveal something fundamental about crypto markets: they're driven by collective belief rather than traditional financial backing. Unlike tokens anchored to specific utility or reserve assets, memecoins thrive on community consensus, cultural momentum, and the shared narrative that propels them forward. What matters isn't the underlying fundamentals—it's whether enough participants choose to believe in the asset's value. This makes memecoins a pure reflection of how markets work when speculation meets community, where sentiment becomes the primary market indicator. In this sense, every memecoin operates as a social experiment in faith—testing whether belief alone can sustain value in an open market.