Ethereum ecosystem warms up, Meme coin market recovers, Solana favored as an old brand coin.

As multiple negative factors have been absorbed by the market, it has begun to warm up from the bottom, with Ethereum being the most eye-catching performer over the past week. This blockchain, which has been heavily criticized, has seen its coin price continuously rise due to multiple Favourable Information such as technological upgrades, capital inflows, and ecological prosperity, while also driving the recovery of Meme coin markets on Ethereum.

In contrast, the well-established secondary Meme coins and AI sector tokens in the Solana ecosystem generally experience a rise, but the pace of the primary market is accelerating. Due to the lack of new narrative support, coupled with ongoing selling pressure in the upper market and continuous drainage in the lower market, only the Bonk series among the new tokens is continuously outputting, but it is difficult to support the entire ecosystem on its own. Apart from a few upper addresses, ordinary users have fewer opportunities to profit in the ecosystem.

Ethereum Meme coin recovery

Matt Furie Concept Return

For Ethereum's Meme coins, Pepe is undoubtedly the undisputed leader. It has cultivated a strong community during the last ETH Meme craze and is the main force behind this ETH Meme pump. Unlike the variability of other concepts across different chains, frog-themed Memes seem particularly favored by EVM chains, especially Ethereum, as Matt's works are deeply tied to the EVM.

With the strong rise of Ethereum, it has even affected the popularity of social media. Veteran Ethereum traders have also picked up the Matt concept again, reviving this long-dormant "Meme chain".

RATO

RATO is the character "Rato the Rat" from Matt Furie's new book. Its image is almost a gray "Pepe" with added mouse nose and ears. The token's highest market value once reached 36 million dollars, and it is currently down to around 15 million dollars.

BERRY

BERRY is the alias for "Strawberry" and is a female version of the "Pepe" image. This token once reached a market value of 55 million USD and has currently retraced to around 3.4 million USD. It is said that its team is the original team of Eth $mstr.

FROGGER

In addition to the Matt series of Pepe derivatives, there are other "frog" concepts. FROGGER is a classic arcade game that was established 12 days ago. After two weeks of sideways movement, it suddenly pumped 10 times, reaching a market value of 2.8 million USD, and has now retraced to 2 million USD.

A certain trading robot project expressed its opinion on social media, believing that Matt's series of characters has a recognizable unified style. If Ether starts a new round of market trends, there will surely be a leading project among them that deserves special attention.

Data shows that tokens such as MOG, APU, PEPE, and SPX in the ETH ecosystem have all seen good growth. Although the capital inflow is not as strong as Solana, the selection is relatively concentrated.

A large influx of funds into Solana's established meme coin.

When the on-chain market warms up, Solana remains the first choice for players. In the past month, the number of active addresses on Solana has skyrocketed. Although there are fewer players making profits, the trading volume and liquidity still far exceed that of ETH's Meme coins. In the primary market, the launch platform led by BONKFUN seems to have achieved success with the total attack launched against PumpFun, as the trading volume and number of transactions on non-PumpFun platforms have reached the levels of the same period last year.

The counterattack of the BONK system

BONKFUN may be the most successful product against PumpFun on Solana currently. Thanks to the solid foundation of the BONK community on Solana, the proportion of large holders, and the team's operations, the platform frequently launches popular tokens. Recently, there has been significant buying support for new coins on the BONK platform in both secondary and primary markets.

Since BONKFUN announced rewards for 5 "take-off" tokens on May 11, surrounding members have begun to strongly support various Meme communities, attracting many Chinese-speaking KOL players to participate. The effect of the East-West collaboration is significant, with reports stating that nearly 7,000 tokens were created within 24 hours, generating approximately $500,000 in fees.

USELESS

USELESS originates from a joke made by a well-known figure on social media. This nihilistic emotional concept is highly favored by the European and American communities, and the market value of this coin once soared to 34 million USD.

HOSICO

HOSICO is one of the tokens launched in the early stages of BONKFUN, continuously maintaining a healthy trend. This viral cat token is regarded by the community as the most promising BONK ecosystem Meme coin to break through a market value of 100 million.

IKUN

IKUN is the representative work of Chinese-speaking players in the BONK ecosystem. This "chicken" concept, which originates from Chinese internet culture, has a market value close to 10 million USD, currently quoted at around 6 million USD.

The old-school Meme coins collectively surged.

Data shows that among the top 15 tokens with the best performance in the past week, half are Solana's established meme coins. Among them, MoonDeng and PNUT are particularly popular, with some analyses suggesting they resemble the early pepe and shib.

TITCOIN has also performed impressively. This "borderline" project maintained good traffic in its early stages thanks to its topicality, with funding behind it building the community while pulling off an almost "only rise and no fall" trend during the bear market, accumulating 22,000 holders from March to May.

Secondary Market Target Selection

Data analysis shows that the tokens with the highest capital inflow ranking in recent times are mostly old coins that have been issued for more than 150 days. Established Meme coins such as MEW, POPCAT, SLERF, and WIF account for a large portion of the inflow, while the AI concept led by ai16z occupies another part of the liquidity. This may be due to the impact of previous excessive declines and the lack of new AI concepts in the crypto market, making mature AI projects the target for bottom fishing.

As the on-chain market warms up, some believe that this round lacks incremental capital, and the prosperity is merely a self-rescue by the manipulators. Indeed, with the mass production of Meme coins, super Meme coins like in previous rounds are becoming increasingly rare. There are fewer and fewer "diamond hands" that can profit in the long term, while many "paper hands" are obtaining good returns through frequent trading.

With a well-known figure revealing that "the Meme coin under Trump's social platform will be launched within 72 hours", the market is once again filled with uncertainty. In an era where the cycles between bull and bear markets are getting shorter, investors can't help but recall Warren Buffett's famous saying: "Be fearful when others are greedy, and greedy when others are fearful."