The cryptocurrency market has been in a downturn recently, and the meme coins on Solana have not cooled down yet, especially on Solana. Due to lower issuance thresholds, Solana has become the most active “casino” on the chain. This article will introduce famous meme coin projects in this bull market by category.
Table of Contents:
– Banker Coin
– Hot News Coin
– Community Coin
– Celebrity Coin
– Other Categories
– Author’s Perspective
The cryptocurrency market has been in a downturn this week, with the prices of most tokens continuing to decline. Even newly issued tokens such as ZK Sync and LayerZero have suffered endless drops.
The biggest opportunity and hotspot in the market is still Memecoin, with Solana Memecoin being the most popular. The low trading costs and the emergence of Pump.fun have reduced the threshold for issuing coins, making Solana the most active “casino” on the chain. According to data from node service provider syndicate, up to 92% of the transactions on Raydium, Solana’s number one DEX, come from Memecoin.
This week, Cryptosnap Dr.DODO will introduce several famous Memecoins in this bull market to help everyone understand the different types of Memecoins.
BOME/ SLERF/ MEW/ MANEKI …
The author categorizes various large pool coins as banker coins, which are characterized by large pools and rapid trading. They offer the highest chance of getting rich overnight and have a large position capacity and high multiplier. However, their high market value makes it difficult to enter, and participation in these projects requires attention to several points:
Project Background:
For example, in the case of BOME, the founder Darkfarms is a well-known artist in the currency circle, and the likelihood of Rug Pull is low.
Is the liquidity pool locked/burned:
In addition to being a banker pool, a large pool can also be a scam pool that completely drains the pool. In the case of SLERF, the project side burned tens of millions of liquidity pools, which was the reason for its initial Fomo.
Trading Volume:
Trading volume represents the market’s emotions about the project. It can be used to determine the project’s popularity.
Market Sentiment:
Here, market sentiment refers to the overall market trend, which is used to judge the potential high points of the project.
The author believes that this type of banker coin rises quickly but often has only one wave of market trends. After that, the trend often differs from the investment logic of Memecoins with small funds and large multipliers. Due to the large pool, it is not recommended to participate again because the returns from investing small funds are not good.
GME/ BODEN/ TREMP/ DJT/ NCAT …
Hot news coins, such as those related to high-profile figures like Musk, Trump, or Roaring Kitty, can often be found on the chain. However, the prices of these meme coins also fluctuate due to various news, so tracking news and making corresponding trading decisions is the most important thing when participating in this type of meme coin. For example, this week’s hottest DJT Trump coin on the chain was rumored to have attracted many people due to rumors of Trump’s son, Barron Trump, participating. However, it also suffered a major drop due to the exposure of insider information by famous CTs like Zach XBT and GCR. Similarly, $GME saw a frenzy due to Roaring Kitty’s return post but soon fell due to the lack of substance in Roaring Kitty’s live video.
POPCAT/ MICHI/ SC
The author believes that this type of community token representing cats and dogs has the highest odds but also the highest failure rate among meme coins. The high odds are because these tokens often have a long enough bottom time to accumulate cheap chips, but at the same time, due to their lack of scarcity, they are also prone to failure. The most important point when participating in this type of project is to join the community and observe whether there are enough enthusiastic community members actively involved in promotion. It is also necessary to observe the token’s volume on Twitter to make trading decisions.
In addition, the author believes that community meme coins gather consensus among retail investors slowly in a good market environment, driving prices up slowly. However, when the market environment is not good, the drop will be the fastest due to factors such as holding a large number of chips and decentralization.
MOTHER / RNT / PAJAMES
Celebrity coins have recently become popular on the SOL chain, but most celebrities have no long-term interest in managing tokens, and many are just a temporary trend. However, if a celebrity with a huge external following is willing to manage, the token has great potential. Currently, the most successful celebrity coin is $MOTHER, with rapper Iggy Azalea promoting her token to her tens of millions of fans and actively interacting with CTs and community members, thereby sustaining the hype for so long. For the author, it is not necessary to rush to participate in celebrity coins, but to observe whether the celebrity is willing to manage long-term after a few days, which is a higher probability method of joining.
WEN/ BONK/ WIF …
In addition, there are many other types of hot meme coins, such as $WEN launched by the Jupiter team or $Bonk, rumored to be launched by the Solana Foundation to revitalize Solana. These coins have reached such high market values mainly due to the participation of regular teams. $Bonk has a low starting multiple due to its birth during a period of inactivity, but $WEN did not reach a high multiple due to its launch during the hot Solana Fomo period. In addition, the largest market value and Solana Memecoin indicator, $WIF, is the most difficult meme coin to categorize. Born as a community coin, it was later favored by capital, making it the strongest target for Memecoin in this bull market.
Given that the Solana Memecoin market is experiencing an avalanche, the author does not recommend participating in any trading at the moment. Instead, it is a good time to discern projects, especially community coins and celebrity coins. One should carefully observe whether the community consensus is still firm during the decline and whether the leading celebrity can continue to invest in the token.
The author believes that Memecoin is not suitable for left-side trading, such as bottom fishing, as it does not have fundamental value to maintain the bottom price. Instead, it is more about attention economics, able to absorb more attention only when the price rises. A more suitable method is to select good underlying targets and add them to the watchlist, waiting to join when the wind picks up.
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