The Rise of Blockchain Egregores

This article explores the emergence of cryptocurrencies like Dogecoin and Shiba Inu in the "crypto carnival" and their ties to the Trickster archetype. It discusses the concept of tokens and the surge of tokenization in the crypto-summer of 2020-2021. The article explains how Shiba Inu became a purely recursive token with no external measure of value. It also explores the creation of egregores, which are created intentionally or unintentionally by groups of people who share a common belief or interest. Finally, the article discusses how digital assets born out of a countermovement may eventually fall prey to the same system they were trying to escape from, using the carnivalesque to trigger the emergence of an egregore that brings monetary value to worthless objects.