Meme Coins: Between Digital Jokes and Economic Traps
By: Dr. Ali Aminulloh, M.Pd.I., ME.
One of the most striking signs of the current digital economic landscape is the proliferation of meme coins. They emerged from cyberspace, a space that has been inherently familiar with humor, parody, and playful culture from the start. Terminologically, a meme is a popular cultural unit that spreads virally, often satirical, ironic, and not intended to be serious. However, in the hands of the digital market, something that started as a joke has transformed into a commodity worth billions of dollars.
Meme coins are cryptocurrencies inspired by internet memes and popular culture. Their value is not based on strong fundamentals, but rather driven by hype, social media virality, and mass psychology. The most famous example is Dogecoin, which was originally created as a joke but later transformed into a digital asset with a large market capitalization. A similar phenomenon occurred with Shiba Inu and Pepe, which thrived on waves of speculation and collective euphoria.
For “web surfers,” especially those born into the fear of missing out (FOMO) generation, meme coins seem like a shortcut to prosperity. The small capital, seemingly unbelievable returns, and rapidly circulating success stories tempt many. But behind the glittering screens, significant risks lurk: extreme volatility, minimal regulation, and the potential for market manipulation. Many enter with hope, but exit with financial scars.
Digital Economy 2026: Speculation vs. Substance
As we enter 2026, global economic trends show two major opposing currents. On the one hand, the digital economy is deepening: asset tokenization, AI in finance, and community-based speculative instruments will continue to emerge. On the other hand, the world is also moving toward a real value economy, an economy that links financial gain with social and ecological sustainability.
This is where ethical issues become crucial. From an Islamic economic perspective, divine guidelines are clear: avoid MAGHRIB (the time of day when the sun sets), maysir (gambling/pure speculation), gharar (uncertainty), and riba (exploitation). Many meme coin practices, especially those based solely on sensation without real value, fall into the gray, even dark, area of this principle. When economic decisions are driven entirely by lust and euphoria, destruction is no longer a possibility, but an inevitability.
This is where the concept of the trilogy of awareness put forward by Sheikh Panji Gumilang finds its sharp relevance.
Trilogy of Awareness: Organizing Reason Amidst the Market Frenzy
Philosophical awareness requires humans to ask themselves holistically: what are we buying, why are we tempted, how does it work, and what are the outcomes. Without this awareness, humans are easily swayed by market desires. Common sense should be the commander, not momentary emotions.
Social awareness reminds us that economic activity is never neutral. There are social impacts from every investment decision: who benefits, who is harmed, and what values are we cultivating? Is it greed or the common good?
Meanwhile, ecological awareness serves as a counterbalance in the era of the climate crisis. The future economy cannot simply be digital and fast; it must be rooted in sustainability.
Green Gold from the Archipelago
In contrast to the fragile speculative economy, Sheikh Al Zaytun proposes another path: a plantation-based green economy. This idea is not agrarian romanticism, but rather a long-term economic strategy. Indonesia possesses real “green gold”: fertile soil, biodiversity, and high-value commodities. One of these is the black-thorn durian, a premium commodity with increasing global economic value.
Here, the economy is not built on memes and digital illusions, but on land, work, and sustainability. Durian plantations are not just about profit, but also about job creation, ecosystem maintenance, and a more equitable distribution of value. This is an economy that takes root, not drift.
Determining Direction
Meme coins may still be around in 2026, even becoming more diverse. However, the question is not whether this trend is momentarily profitable, but whether it fosters a healthy economic civilization. In a world cluttered by digital sensations, the trilogy of awareness offers a moral and intellectual compass.
Ultimately, economic choices are choices of values. We can pursue fleeting laughter from viral memes, or plant long-term hope in fertile soil. History will record who simply went with the flow, and who planted the future.
Indonesia, January 10, 2026
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