Author: ChandlerZ, Foresight News
Since its launch, Moonshot has quickly emerged in the market with its focus on the Meme coin ecosystem, even being hailed by some industry insiders as the "Binance of the Meme world". Against the backdrop of the overall relatively sluggish trading sentiment, the price fluctuations, market capitalization trends and development status reflected in the project listing data on the Moonshot platform still provide important basis for us to gain a deeper understanding of the Meme ecosystem.
In short, Moonshot is a Meme trading platform built on the Solana blockchain, which lowers the threshold for ordinary users to enter the crypto market through a simplified registration and trading process. The platform supports multiple fiat currency deposit methods such as Apple Pay, credit cards and PayPal, and also realizes fast and convenient asset withdrawal. During the Meme coin craze in the second half of 2024, Moonshot successfully attracted some users by quickly selecting and listing popular tokens.
Dune data shows that Moonshot's trading volume and transaction fees in 2024 were overall in a steady development state, with daily trading volume around tens of millions of dollars and an average of 3,500 to 4,900 unique traders per day. The change in this state was due to the launch of his personal Meme coin TRUMP by former US President Trump on January 18, 2025, followed by the listing of TRUMP on Moonshot, and the renewed promotion of the TRUMP token by Trump's official Twitter account, which ignited a frenzy.
According to official data, within 12 hours, Moonshot was recommended as a purchase method on the official TRUMP token website, and the platform processed nearly $400 million in trading volume, breaking the record for fiat currency entry and attracting over 200,000 new users.
With the cooling of TRUMP and the overall market, Meme coins have also seen a widespread correction and price volatility. What is the wealth creation effect of Moonshot? We try to explore the real performance of the tokens listed on Moonshot in the past three months, the situation of this emerging trading platform, and the market conditions behind this effect through in-depth analysis.
116 Tokens Listed in March, 68 "Nearly Zeroed Out", One-third "Peaked at Listing"
In this article, we have selected the tokens listed on the Moonshot platform from November 2024 to January 2025 as the research sample, with the data source being the listing time records provided by the "Moonshot Listings" account.
The overall data is shown in the figure below:
The "Moonshot Listings" record shows that during these three months, Moonshot listed 116 tokens, of which 54 were listed in November 2024, 38 in December, and 24 in January 2025.
Further, in the current market environment, only 17 of the 116 listed tokens are currently trading above their listing price, accounting for less than 15%, with the vast majority of projects currently in a downward trend, with projects with a decline exceeding 85%.
Due to the characteristic of most Meme coins going to zero, we also tried to objectively calculate this data. If we define "nearly zeroed out" projects as those where the current price has dropped by more than 90% from the all-time high, the statistics show that among the 116 tokens we analyzed, 46 projects met this standard in November, 17 in December, and 5 in January 2025, totaling 68 projects, accounting for more than 58.6%. This figure directly reflects that most tokens quickly lost market support after the initial hype.
At the same time, we also found that according to the standard of the highest increase after listing being less than 20%, the projects classified as "peaked at listing" in the three statistical periods were 12, 13 and 8 respectively, totaling 33 projects, which is nearly one-third of the projects. These projects had already approached their historical highs when they first appeared on Moonshot, and then quickly lost their upside potential due to a lack of continuous fundamental support or a weakening of market confidence.
40% of Tokens at Least Doubled After Listing, TRUMP Dominated the Fundraising
About 40% of the tokens at least doubled in price after listing, indicating that the market initially gave extremely high enthusiasm and pursuit to some projects. From the data, the top ten projects in terms of current gains and gains after listing to some extent show an overlapping trend, with some tokens occupying a leading position in both their historical highs and current performance. Due to the special political factors, TRUMP is undoubtedly in an absolute dominant position.
PNUT and 360noscope420blazeit (MLG) achieved gains of 4797.96% and 2555.56% respectively, while degenai, CHILLGUY and a few other projects also broke through the 20x gain threshold. These data indicate that under the drive of extreme market sentiment and short-term speculation, some tokens have once gained extraordinary market attention and speculative capital support, forming a strong peak in gains.
However, compared to the historical highs after listing, the data of the top ten projects in terms of current gains appears relatively mild. Currently, TRUMP's gain is 1940.70%, far lower than its previous high; similarly, MLG and AI Rig Complex (ARC) are 1034.44% and 661.32% respectively, both significantly retreated, while the current tenth-ranked Moby AI has only a 26.54% gain. This gap reflects that although some projects have experienced explosive growth in the past, as the market sentiment tends to be rational and profit-taking is widespread, the gains of the vast majority of projects have been greatly narrowed.
These two sets of data complement each other, jointly depicting a picture: in the short term, some projects have ushered in explosive gains due to market speculation, but as the market heat cools and the effect of profit-taking emerges, the projects that can maintain sustained growth are few and far between. This also reveals the characteristics of the current Meme coin market, where speculative sentiment is strong and price fluctuations are drastic, and also exposes the severe situation faced by the vast majority of projects in terms of value reversion and risk reassessment after the initial frenzy.
"Halving from the High" is Actually Resilient
From the data on retreats from the highs, it can be seen that after excluding the special Coinbase Wrapped BTC project, the projects with a retreat of around 50% are actually already considered to have fallen relatively less.
Taking spinning cat (OIIAOIIA) as an example, its retreat is about 46.94%, which can be considered relatively mild in the high point correction, and the subsequent projects such as ARC, SNAI, MLG, FRIC, Butthole and Pippin all have retreat rates close to or exceeding 50%. This indicates that in the entire sample, only the small portion of projects with a retreat of around 50% can be considered to have fallen "less", while the majority of projects have experienced more severe price corrections.
If we categorize by market capitalization, the current large MC Meme coins have only 9 projects, with an average current gain of 440.67% and an average high point retracement of 60.74%. In contrast, the mid-cap (28 projects), small-cap (42 projects), and projects with a market cap below 1M (37 projects) present a completely different situation. Low-cap projects are more affected by speculative sentiment and market volatility, and most are already in a "zero" state.
In summary, we can see that the wealth creation effect of this platform in the Meme field is both dramatic and exposes its inherent high-risk characteristics. As an emerging trading platform focused on Meme coins, Moonshot's listing effect has indeed created amazing returns in the short term for some individual projects (such as TRUMP) under certain extreme market conditions, attracting a large influx of speculative capital. However, looking at the overall data, more than 85% of the 116 listed projects have experienced significant declines, and tokens with low market caps or less than 1M are generally facing a near-zero fate, and its listing effect has not formed widespread and lasting value support in the current market environment.
Meme itself, as an asset driven mainly by entertainment and topicality, has extremely volatile and rapid price fluctuations, with the hot spots coming and going quickly, and the speed of zeroing out is even more astonishing. This extreme volatility and fragility are the core characteristics of the Meme asset market, where market sentiment is easily pushed to a peak by temporary hype, but after the hot spots fade, capital quickly flows back, and the price correction or even zeroing out is far beyond expectations.
It can only be said that while the listing effect of the Moonshot platform has brought generous returns to "some" investors, it has also sounded the alarm for market participants. In this market characterized by short-term and quick profits, speculative enthusiasm is often just a fleeting moment, and risk management and rational investment are the only way to face this high-risk field.
