1. YILONGMA Project Overview

YILONGMA is a Meme Coin issued on the Ethereum (ETH) mainnet, which gained popularity due to the character “YiLongMa” imitating Elon Musk on Twitter. The project is centered around humor and entertainment, driving community consensus through its “Meme” culture, and was listed on Gate.io’s Innovation Zone on 17 Jan 2025. Currently, the main goal of YILONGMA Coin is to leverage community dissemination and topical popularity to provide holders with a unique social experience and potential value growth.

In the blockchain industry, Meme Coin often relies on online community culture, leveraging remixing, creative marketing, and celebrity effects to quickly gain attention. YILONGMA Coin, on the other hand, entered the market from the high-profile topic of ‘YiLongMa=Chinese version of Elon Musk,’ quickly attracting a large number of eyeballs early in its release.

2. YILONGMA project background

The project associated with YILONGMA originated from the social media platform Twitter (Twitter/X, note: This account is temporarily restricted). The name of the project is derived from a popular internet user ‘YiLongMa’, who sparked controversy around 2024-06-06 for imitating Elon Musk’s words and actions, and was jokingly referred to as ‘China’s Elon Musk’ by some netizens. According to community rumors, this also attracted the attention of Elon Musk himself, further expanding YiLongMa’s influence.

The project team has not disclosed a detailed list of core team members, currently mainly existing in a community self-organized form. Official information reveals that YILONGMA is a decentralized Meme Coin project, aiming to gather interest groups from both the crypto and non-crypto circles through a humorous image and social viral spread, creating a blockchain community dedicated to the ‘YiLongMa’ topic.

3. The Origin of YILONGMA’s Meme

Meme Coin has always been a unique branch in the cryptocurrency market. Its core features include grassroots community culture, viral spread on social media, and playful or reverent references to real-world trends. The origin of YILONGMA’s Meme can mainly be attributed to:

• Imitation and tribute: The founding inspiration comes from the online influence of the well-known American entrepreneur Elon Musk, while ‘YiLongMa’ is known as the ‘Chinese Elon Musk’, aiming to combine humorous elements from two cultural backgrounds.
• Social heat: Twitter has seen a large number of imitative remarks of ‘YiLongMa’, even frequently interacting with Elon Musk’s tweets, attracting a large number of onlookers and media coverage.
• Community Co-creation: Many coin holders and fans will spontaneously produce various secondary creations, such as emojis, short videos, and even virtual images, greatly enhancing the project’s exposure and vitality.

With the unique support of the MEME culture, YILONGMA Coin has quickly gained high levels of discussion and user attention, becoming one of the “phenomenal” projects in the crypto market in early 2025.

4. YILONGMA Technology Principle

YILONGMA Coin runs on the Ethereum (ETH) mainnet, following the typical ERC-20 standard contract mechanism, with the contract address being 0x64766392aD32A6c94b965B5bF655e07371c23A1d. Technically, there is no particularly complex smart contract logic, only basic transfer and balance query functions. As it is a meme-oriented community project, there is currently no proprietary Layer 2 scaling solution or specific use case developed.

Here are some key features of the YILONGMA Coin contract:

• Token symbol: YILONGMA
• Contract Standard: ERC-20
• Contract Address: 0x64766392aD32A6c94b965B5bF655e07371c23A1d
• Security Audit: There is currently no official audit report published, but according to community feedback, the contract structure is relatively simple, and the risks are relatively controllable.

Source:dexscreener data

5. YILONGMA’s market performance

YILONGMA Coin officially launched for trading on the Gate.io Innovation Zone on 2025-01-17. As of 2025-03-08, it has been running for about 50 days. Gate.io Innovation Zone typically focuses on high-potential or popular cryptocurrency projects, and YILONGMA has quickly attracted a group of speculative and collectors users with its Meme characteristics and social topics.

The latest data on Gate.io is as follows (as of 20250308):

• Current price: about 0.09948 USDT
• 24-hour highest price: 0.09973 USDT
• 24-hour lowest price: 0.09527 USDT
• 24-hour trading volume: 703.64 YILONGMA
• 24h Trading Volume: 68.75 USDT
• Current market value: about 96,200 USDT
• Total Circulating Market Cap: about 100,100 USDT
• Listed Time: 2025-01-17

From these data, the overall market value of YILONGMA is still not large, and the trading volume is also in a slow growth stage. For Meme Coin, which has just emerged in the market, such performance is not unexpected, and it is necessary to combine community popularity and external market environment to judge the future direction.

Source:Gate.io Innovation Zone

6. Summary

YILONGMA Coin is a typical Meme project in the cryptocurrency market, and it quickly became popular with the topic “YiLongMa = Chinese Elon Musk” on the Twitter platform. Since its launch on Gate.io’s Innovation Zone on 17 Jan 2025, YILONGMA has attracted a large number of enthusiasts and speculators with its unique social culture and entertainment attributes. From the perspective of its economic model and contract mechanism, its structure is not complicated, and its value is more reflected in the community vitality, dissemination heat, and celebrity effect.

For investors, Meme Coin is often a high-risk, high-volatility choice, which may either skyrocket at any time or plummet rapidly. Therefore, if considering participating in the ecosystem or investment of YILONGMA, one should continuously monitor the project’s community development, popularity trends, and potential technological or application upgrades.