Author: BUBBLE
As the market exhausted many negative factors, the market has slightly recovered from the bottom, and the most eye-catching chain in the past 7 days is Ethereum. This chain, which was criticized a lot some time ago, has continued to rise in the price of Ethereum with the upgrade of Pectra, the continuous purchase of ETFs, and the success of Virtual's new issuance model. Capital recognition + technology upgrade + on-chain ecological prosperity have also led to a repeated recovery of Memecoins on the Ethereum chain.
On the other hand, Solana, the old secondary Memecoin and AI sector tokens are generally rising, but the primary market is getting faster and faster because there are no more narratives to carry on. At the same time, the upper market is facing the continuous release of selling pressure from related addresses such as FTX and Alameda, and the lower market continues to pump money. The only new token is the Bonk system that continues to output new gold dogs, but it is difficult to support it alone. Except for the upper addresses, fewer and fewer ordinary people can make money in the ecosystem.
@ec_unoxx's DUNE dashboard shows the profitability of nearly 30,000 addresses
ETH Meme Resurgence
Matt Furie Concept Returns
For Ethereum's Memecoin, Pepe is definitely the undisputed leader. It has cultivated a very strong community in the last cycle of ETH Meme craze. As one of the most well-known Memes, it is the main force in this ETH Meme rally in terms of market value, capital inflow, and increase. It is different from the "variability" of Shiba Inu concepts such as SHIB and FLOKI in other chains, or the V God Hippo stolen by Solana. The Frog system seems to be particularly fond of the EVM system, especially ETH, because Matt's work is bound to EVM and deeply rooted in the hearts of the people. For example, ANDY and BRETT have both achieved impressive market value and community.
At that time, Ethereum was rising strongly and its rise even affected the "widespread publicity" of the topic on TikTok. Naturally, the old Ethereum traders were no less enthusiastic and picked up the Matt concept again, reviving this long-dormant "Meme chain".
RATO
The first thing to mention is RATO, which is a character in Matt Furie's new book "Rato the Rat". Its image is almost the gray "Pepe" with a rat nose and ears, but the image is a rat. The current market value of the token has reached a peak of 36 million US dollars, and has now been adjusted back to 15 million US dollars.
BERRY
BERRY "Strawberry", this image has appeared many times on Matt's IG, the image of the female version of "Pepe". According to the well-known KOL Zhang Zhang "@0xZz007", this team is the original Eth$mstr team. The token once reached a market value of 55 million US dollars. After the launch of the token, KOLs with considerable purchasing power "private or public domain" promoted it at almost the same pace, which also made the token's trajectory quite stable before reaching a market value of 10 million US dollars. Now the token has pulled back to around 3.4 million US dollars.
FROGGER
In addition to the Pepe spin-offs in the Matt series, the first work Naked Crab Man, MACI, who is also a character in the "suspected" next work with Berry, and other "frog" concepts, FROGGER is a classic arcade video game originally developed and published by the Japanese company Konami in 1981.
FROGGER was founded 12 days ago. After two weeks of sideways trading, it suddenly soared 10 times yesterday. The top of the list is currently the 15% token issued to Vitalik. The current market value of the token has reached a maximum of 2.8 million US dollars, and has now been adjusted back to 2 million US dollars. Although it is a new concept of Frog, it is not known whether the narrative will continue in the current market.
PepeBoost, a veteran Trading Bot project, expressed his opinion on X. He believes that "Matt's series of characters have a unified style and are easy to identify. If Ethereum really starts a new round, there will definitely be a leading project among them, which is worth paying attention to."
According to the DUNE panel data made by @dyorcrypto, ETH's MOG, APU, PEPE, and SPX have all seen quite good growth. Although ETH's old tokens do not have as much inflow as Solana, the choices are relatively concentrated.
Solana Old Meme A Lot of Money Inflow
When the on-chain market picks up, players will still use Solana as the first driving force. The number of active addresses of Solana has soared in the past month. Although fewer and fewer players can make money, the transaction volume and liquidity are an order of magnitude higher than the Meme of ETH. In the primary market, Solana has suffered from PumpFun for a long time, but in today's market, the general attack launched by Raydium LaunchPad, led by BONKFUN, seems to have worked. The transaction volume and transaction Txs of non-PumpFun platforms have reached the same level as last year.
BONK's Counterattack
BONKFUN should be Solana's most successful product against Pumpfun. Thanks to the depth of the BONK community in Solana and the proportion of large users plus the DEGEN team, this platform has been producing Golden Dogs from time to time. Recently, BONKGUY "theunipcs", who has a large buying volume in both the second-level and first-level orders, has contributed a lot of Golden Dogs to the BONK platform.
Since BONKFUN announced on May 11 that it would offer a $5,000 reward for 5 "Takeoff" tokens in the following week, members of the surrounding community have begun to frantically support various meme communities. A large number of Chinese KOL players have also linked up with it, and as a result, many "Chinese" narratives have appeared on BONKFUN's homepage.
The effect of the East-West alliance is naturally obvious. According to BONKGUY, since the latest incentive plan started yesterday, LetsBONKfun has created 6,911 tokens in just 24 hours, and generated 2,880.36 SOL (about $500,000). If the $5,000 reward per token is as mentioned above, a full 100 token communities can be rewarded. This means that in just 24 hours, 20 times the benefit value of its own weekly reward activities was generated. Whether it is for BONK project parties or retail investors in the market, all ecological niches may covet more high-quality memes from BONKFUN.
USELESS
USELESS comes from a tweet posted by BONKGUY on X: "This is a useless currency and should not be pushed up." Such empty and emotional concepts like "FARTCOIN", "SHIT", and "HOUSECOIN" are loved by European and American communities. Since the launch of BONK, the market value has soared to 34 million US dollars, which makes people seem to see the same path as "HOUSECOIN".
HOSICO
HOSICO is the Memecoin that I mentioned when BONKFUN was launched. HOSICO, the "first generation" BONKFUN token promoted by BONKGUY, also continues to have a healthy K-line trend. This Internet celebrity cat has been ahead of other tokens of the same period since BONKFUN was launched. It is also regarded by the community as the most likely to become BONK's first Memecoin to exceed 100 million market value.
Further reading:
IKUN
As mentioned above, a large number of Chinese-speaking players have entered BONK, and the representative work among them is IKUN. This "chicken" concept is familiar to almost anyone who has lived in the "cyberspace" of the Chinese area. After BONKGUY's promotion, the highest market value was close to 10 million US dollars, and the current offer price is 6 million US dollars.
Tears of the times, old memes burst out collectively
According to ARKHAM’s TREEMAP data, half of the top 15 best-performing tokens in the past week are Solana’s old Memecoins, among which MoonDeng and PNUT are the most popular concepts. The well-known KOL Chuanmu’s logic for buying these two tokens is "they are very similar to the early pepe and shib", and in any case, these two concept coins of the same period have performed well in this cycle.
TITCOIN
Another equally eye-catching one is the COIN-like "copycat" TITCOIN. This complete "conspiracy disk" maintained quite good traffic data in the early stage by "skirting the edge", and the funds behind it built the community while creating a market that almost "only rises but never falls" in the bear market, accumulating 22,000 holders from March to May.
What other secondary targets are there?
Well-known data analyst @ec_unoxx compiled many data indicators of secondary targets in the data charts on DUNE. Retail investors can combine the possible large inflows of tokens to cooperate with the analysis of K-line.
It can be seen that the tokens ranked at the top of the recent inflow are almost all old coins that have been launched for more than 150 days. MEW, POPCAT, SLERF, WIF and other older Memecoins occupy most of the inflow, while AI concepts led by ai16z, which recently released the launch platform autofun, occupy another part of the liquidity. One reason is the impact of the oversold some time ago, and the other is that Crypto has not seen any new AI concepts, so mature AI projects are also listed as one of the targets for bottom-fishing by smart money.
With the thriving on-chain, crypto poker player Wesley "CryptoApprenti1" believes that there is no incremental capital in this round of on-chain, and the prosperity is actually the dealer pulling the market to save himself, and said "If you still believe that super memes like $shib and $pepe will appear in the last round, you have to think about it." It is true that with the assembly line of on-chain memes, large-cap memecoins have become increasingly rare after $Trump.
There are fewer and fewer "diamond hands" who can win, but many "paper hands" have a good rate of return by relying on PVP. After the news broke that "Meme coins of Trump's social platform Truth Social will be launched within the next 72 hours" by @cryptomanran, the founder of Crypto Banter, the future market is full of uncertainty. At the moment when the bull-bear transition is getting shorter and shorter, the classic saying of the legendary Warren Buffett who just retired some time ago can't help but appear in my mind again: "When others are greedy, I am fearful, and when others are fearful, I am greedy."
