Author: BlockBeats
Today, Trump became the first former president in U.S. history to be convicted. As an "index" of the crypto community's attention to topics, Trump-related concept coins also experienced significant fluctuations.
Interestingly, Trump-related news has dominated the crypto community for nearly a month, and related meme coins have covered almost all popular chains, with the survival time of "Trump" on each chain varying. After a month, the only ecosystems with related memes left are Ethereum and Solana, and their respective "meme survival rules" are exactly opposite.
Trump fever strikes again, Ethereum players react most sensitively
On May 31, a New York court jury in charge of the "hush money" case of former US President Trump made a ruling that all 34 felony charges of falsifying business records in this case were established, making Trump the first former president in US history to be convicted. As soon as the news came out, Trump-related concept meme coins once again topped the hot list today.
As a hot topic, every public chain has a Trump-related concept coin. But now if you search for keywords such as "trump" and "maga", the only public chains that can be selected are Ethereum and Solana.
However, from the data of dexscreener, we can see that among the top five Ethereum coins in terms of growth, three are Trump concept coins. However, there is only one Trump concept coin in the corresponding list of Solana.
In addition, the difference between the two can be clearly seen from the market value. On Ethereum, we can find TRUMP and MAGA with a market value of more than 10M, but on Solana, they do not exceed 500K, and they are all new coins with a survival time of less than 48 hours.
The meme coin MAGA Memecoin ($TRUMP) on Ethereum appeared on August 23, 2023. After more than four months of gestation, it started in January of this year and has risen from US$0.31 to the current US$14.2, an increase of hundreds of times.
After the news of Trump's sentencing was suddenly announced, $TRUMP on Ethereum reacted very sensitively, first falling nearly 30% in a short period of time, and then quickly rising by more than 75%, recovering the losses and returning to a high of $14.
Two days ago, when TRUMP on Ethereum hit a record high of $15.4, the community detected that a certain address withdrew 1.16 million USDT from Binance in the past two weeks and spent 1.15 million USDT to buy 118,671 TRUMP, with an average price of $9.69. In two weeks, the relevant tokens on Solana may have been replaced.
For example, the Trump-related concept coin MAGA on Solana is very "fresh" these days. It was launched a week ago and "completed its life" in 48 hours. After the news broke this morning, MAGA doubled immediately, and then quickly retreated sharply.
Will "BOME" appear on Ethereum?
On May 28, a meme coin called pepe in a memes world (PEW) appeared on the Ethereum ecosystem. It continued to rise after its launch, and achieved a 180-fold increase in just two hours.
From the K-line chart, we can see that after reaching 180 times within 2 hours of going online, PEW's volatility is still very intense, and the trading volume exceeded 100 million US dollars in less than a day. After only one day of fluctuations after the decline, PEW is "ready to go" again, with a 24-hour increase of more than 380%, and is about to set a new record high.
In addition to PEW, another meme coin JJ, which was launched two weeks ago, has also been shining in the past few days. JJ is inspired by the emoticons of the Discord community. As of the time of writing, JJ's official Twitter followers are less than 1,000, and the transaction volume is less than 20 million US dollars. After a 10-fold increase at the beginning of its launch, JJ has exploded in the past two days, with a two-day increase of more than 600%.
Caitlyn Jenner, the protagonist of the recently highly discussed "Celebrity Coin", also released a token of the same name on Ethereum yesterday after her team released tokens on the Solana ecosystem meme release platform pump.fun. However, JENNER does not seem to have found Ethereum's "meme survival rules" and is currently on the road to zero.
Two months ago, community KOL Orange Book published an article titled "Meme is to public chain as restaurant is to city". This article uses an interesting metaphor to explore the development of public chain and the role of meme culture in it. The author compares public chain to a city, and meme is equivalent to a restaurant in the city.
Meme culture is a kind of "quasi-luxury" for public chains. It is not just simple entertainment, but a symbol of the prosperity and development of the public chain ecosystem. Meme culture can continuously bring new vitality and stories to the public chain, which is crucial to maintaining the attractiveness and activity of the public chain.
Ethereum started early and seized the opportunity of ICO (initial coin offering), so it took the lead in the development of public chains and became a "world famous city". Although other public chains have the opportunity to catch up, it is difficult for them to skip the intermediate development stage.
Recently, the popularity of celebrity meme coins such as JENNER and MOTHER has once again pushed Pump.fun on Solana to the center of community attention. It seems that the meme season can lead to a wave of "Solana Summer", but judging from the trend of similar meme coins, the speed of new meme outbreaks and vitality, despite the strong momentum of Solana and Base, meme investors will not ignore their love for Ethereum.
