Recently, the cryptocurrency market has been in a downturn, with meme coins still not losing their appeal. Particularly, meme coins on Solana have not cooled down yet, making Solana the most active “casino” on the chain due to its lower issuance threshold. This article will introduce famous meme coin projects in this recent bull market by category.
(Background:
Meme coin live broadcast plummeted by 90%! Founder shed tears: it’s not me who sold it…
)
(Table of Contents
Whale coins
Hot news coins
Community coins
Celebrity coins
Others
Author’s viewpoint
This week, the cryptocurrency market continues to be in a downturn, with most tokens’ prices continuing to drop. Even the newly issued ZK Sync and LayerZero projects have been unable to escape the relentless downturn.
The largest opportunities and hot spots in the market are still Memecoins, with Solana Memecoins being the craziest. The low trading costs, along with the emergence of Pump.fun, have lowered the threshold for issuance, making Solana the most active casino on the chain. According to data reports from node service provider syndica, 92% of the trades on Solana’s leading DEX – Raydium are from Memecoins.
This week, Cryptosnap Dr.DODO will introduce several types of Memecoins in this recent bull market.
BOME/ SLERF/ MEW/ MANEKI…
The author categorizes coins from various large pools as whale coins, with the feature being that these pools are large and the manipulations are fast, making them the most likely assets to become rich overnight. However, the high market value often makes it difficult for people to participate. When entering such projects, one must pay attention to several points:
Project background:
For example, in the case of BOME, founder Darkfarms is a well-known artist in the industry, and the possibility of Rug Pull is low.
Is the liquidity pool locked/burned?
Besides being a whale pool, large pools are also likely to be a scam designed to completely empty the pool. For example, in the case of SLERF, the project side burned millions of liquidity pools, which was also the reason for the initial Fomo.
Trading volume:
Trading volume represents the market’s emotions towards this project and can be used to judge the heat of the project.
Market sentiment:
Here, market sentiment refers to the overall market trend and is used to judge the potential high points of the project.
The author believes that this type of whale coin is quickly manipulated, but often, there is only one wave of market trends. The subsequent trends are often different from the investment logic of Memecoins, which is aimed at making large profits with small funds. Due to the large pools, it is not advisable to participate again due to the poor returns with small funds.
GME/ BODEN/ TREMP/ DJT/ NCAT…
Hot news-related coins, such as those related to figures with significant influence, like Musk, Trump, or Roaring Kitty, often correspond to Memecoins that can be found on the chain. The price of this type of Memecoins often fluctuates due to various news, so tracking news and making corresponding trading decisions is the most important thing to consider when participating in this type of Memecoin. For example, this week’s hottest DJT Trump coin on the chain, due to rumors of Trump’s son Barron Trump’s involvement, attracted many people to speculate. However, it also fell sharply due to the exposure of its internal information by well-known CTs such as Zach XBT and GCR. Similarly, $GME caused a crazy speculation due to Roaring Kitty’s return post, but soon fell sharply due to Roaring Kitty’s live video not living up to expectations.
POPCAT/ MICHI/ SC
The author believes that this type of community tokens, such as cat and dog-themed tokens, have the highest odds but also the highest failure rate among Memecoins. The high odds are due to the fact that these tokens often have enough time at the bottom to accumulate cheap chips. However, due to the lack of scarcity, the failure rate is also high. The first point is whether the token’s head image captures people’s attention, but more importantly, it’s the community atmosphere. The most important point of participating in this type of project is to join the community and observe whether there are enough enthusiastic community members actively involved in promotion. At the same time, it is also necessary to observe whether the token’s presence on Twitter is declining or stagnant to make trading decisions.
In addition, the author believes that community-type Memecoins, when the market environment is good, slowly gather retail consensus, driving the price to gradually rise. However, when the market environment is bad, due to factors such as holding a large number of chips, the fall will be the fastest.
MOTHER/ RNT/ PAJAMES
Celebrity coins are a trend that has emerged on the SOL chain in recent weeks, but most celebrities are not interested in managing tokens for the long term. Many of them are considered one-time deals. However, if a celebrity with a huge outside circle of influence is willing to manage the token, the token has great potential.
Currently, the most successful celebrity coin appears to be $MOTHER, with rapper Iggy Azalea promoting the token she issued with tens of millions of fans and actively interacting with CTs and community members, which is why the heat can be sustained for so long. For the author, it is not advisable to rush to participate in celebrity coins and should observe for a few days to judge whether the celebrity is committed to long-term management before joining for a higher win rate.
WEN/ BONK/ WIF…
Apart from the above, there are many other types of hot memecoins. For example, $WEN, launched by the Jupiter team, and $Bonk, rumored to be launched by the Solana Foundation to revitalize Solana, have reached such high market values due to the involvement of legitimate teams. $Bonk, due to its birth at a time of great neglect, has a low starting point and high multiples. However, $WEN, born during the fiery Solana Fomo period and having already reached the expected level even before going online, does not have high multiples. In addition, the largest market value among Solana Memecoins and the wind vane of Solana Memecoins, $WIF, is the most difficult meme coin to categorize. Born as a community coin but later favored by capital, it has become the strongest target for Memecoins in this recent bull market.
Given that the Solana Memecoin market is experiencing an avalanche period, the author does not recommend participating in any trading at the moment. Instead, it is a good stage to assess the projects, especially community tokens and celebrity coins. It is important to carefully observe the community consensus under the declining trend and observe whether the celebrity is committed to investing in the token.
The author believes that Memecoins are not suitable for left-side trading, such as laying in ambush and bottom fishing. Memecoins do not have so-called fundamental values to maintain the bottom price. Instead, they mostly thrive on attention economics, which allows them to absorb more attention when prices rise. The more appropriate method is to select well-founded targets and add them to the watch list and wait for the wind to rise.
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