Author: Frank, PANews
MEME coins have become an important business card in the crypto world, with ups and downs of wealth stories and hot topics. On the other hand, the MEME culture, accompanied by a large influx of funds, has also become increasingly complex, and the speculation angle has even shifted from online hot spots to various abstract cultures. For many people who aspire to find the wealth code in this market, it seems to have entered an epic level of understanding difficulty.
Compared to the unabated enthusiasm, the MEME track still lacks some macro tools to analyze the overall development situation, and people seem to be more obsessed with the stimulation of PVP, but rarely think about what kind of MEME is more likely to run out of the curve, or what are the characteristics behind the top MEME?
PANews restores the truth of the head MEME through the overall data of MEME.
Dog series MEME become the ultimate winners
As of November 21, there are more than 100 million market value MEME coins on the Solana chain, of which the highest market value MEME coin is BONK, a dog-themed token issued in 2023.
PANews divides these tokens into the following categories: crypto native (crypto original content), Pepe series (similar to PEPE), cat, dog, internet hot spot (from TIKTOK or other internet social hot spots), AI, DeSci.
According to this classification, we can see that among the MEME coins with a market value of 100 million US dollars, the number of tokens in the internet hot spot and cat series is the largest, with 8 and 7 respectively. The number of AI-themed tokens is 6. But in terms of total market value, the dog series MEME has the highest total market value, reaching 7.206 billion US dollars, accounting for 42% of the total market value.
The market value of the cat series tokens is about 3.224 billion US dollars, from this perspective, the cat-dog war is currently led by the dog series.
AI triggers the "October Revolution" of MEME
In addition to the market value comparison, the overall market enthusiasm can be seen from the timeline. The figure below compares the issuance time of MEME tokens with a market value of over 100 million US dollars. From this comparison, we can clearly see that there is a significant thematic preference in each time period within the MEME market.
The dog series tokens are the earliest famous series on the Solana chain, with the issuance time concentrated almost entirely in 2023. From November 2023 until now, nearly a year later, there are still 3 dog series MEME with a market value of over 100 million US dollars, among which BONK ranks first on the Solana chain with a market value of nearly 4 billion US dollars, and $WIF ranks second on Solana. It seems that the dog series is still the most popular material in the MEME world.
The cat series appeared later than the dog series, but the enthusiasm seems to have been maintained until September, with cat series tokens constantly becoming new MEME stars during this period. Overall, 4 to 5 months on Solana can be said to be the cat's market. However, in terms of the overall average market value, the average market value of the cat series reached 1.295 billion US dollars, second only to the dog series. This also indirectly shows that the cat-dog war is still the biggest winner on Solana.
October was the month when Solana entered the highest MEME heat, with the most MEME coins with a market value of over 100 million US dollars born in this month, a total of 11, the majority of which were AI series and internet hot spots. The representative tokens in this month include MOODENG (internet hot spot) and GOAT (AI).
In November, when the crypto market was generally hot, the MEME angle changed every day, but it seems that no strong momentum has been formed so far. 3 tokens were born in November with a market value of over 100 million, still mainly AI and internet hot spots. The DeSci angle that has been rising recently, however, only has one token $RIF reaching over 100 million market value. In November, the most eye-catching one is undoubtedly Pnut, which became the youngest 1 billion US dollar market value token with the support of Musk and Binance.
From the overall time span, the MEME with the highest market value on the Solana chain are still those with earlier issuance time, and only Pnut among the top ten tokens has been issued for less than 1 month. Perhaps from this perspective, the head tokens generally need to experience the precipitation and accumulation of consensus over time.
The deep capital pool allows the Pepe series to occupy a place
In finding out why these tokens can stand firm with a market value of over 100 million US dollars, PANews found some unique phenomena that may explain the problem. In terms of overall market value and social media heat, the Pepe series tokens do not seem to be popular, but there are still 3 Pepe series tokens occupying a market value of over 100 million US dollars.
Observing the liquidity pool amount of all these tokens, it can be found that the Pepe series tokens have the largest liquidity pool, with the liquidity pool of the 3 tokens exceeding all other series, reaching 179 million US dollars, with an average of 59.9 million US dollars per Pepe token, and an average liquidity pool/market value ratio of 11.53%. Sufficient liquidity may be the proof of the persistence of large capital. From the average point of view, the liquidity pool of the AI series seems to be the thinnest (except for DeSci), only 7.03 million US dollars, with a liquidity pool/market value ratio of only 1.49%, and such liquidity may be difficult to maintain for a longer period, but from the current point of view, the AI series seems to be still in the stage of contending for supremacy, and large capital has not yet been invested in the liquidity pool in the undecided situation.
One in sixty thousand grasps a 100 million large MC memecoin
So how many tokens can really break out and become a true MEME gold mine? As of November 21, Pump.fun has issued a total of 3.59 million tokens, a scale that has far exceeded the total token issuance in the crypto world over the past 10 years. Of these, the number of tokens that have graduated (completed the curve on Raydium) is 50,389, accounting for about 1.4%. And the number of tokens with a market value of over 100 million US dollars is 32.
The number of MEME tokens with a market value of 10 million to 100 million US dollars is 154. The probability is about 0.00089%, less than one in ten thousand. It accounts for about one in six of the graduated tokens. The number of tokens with a market value of 1 million to 10 million is 396, accounting for 0.79% of the graduated tokens, and the number of tokens with a market value of 10 million to 100 million is 150, accounting for 0.29% of the graduated tokens.
From this data ratio, getting a wealth code and successfully profiting is no easier than buying a lottery ticket. However, it still seems to be higher than the probability of winning the first prize in the lottery (about one in 17.72 million). No wonder the crypto community calls MEME investment a lottery-style investment.
In addition to Solana, what other public chains are also MEME hotbeds?
In our impression, Ethereum and the BSC chain were once the MEME paradise. From the current data, in addition to Solana, the prosperity of the Base chain seems to be quietly happening.
In terms of quantity, the number of MEME between 1 million and 10 million on Base reached 121, second only to Solana, while BSC is more concentrated between 10 million and 100 million, becoming the gathering place for the middle force of MEME. Ethereum is still the place with the most top MEME besides Solana, with a total of 16 MEME over 100 million. The highest market value among them is PEPE, reaching 8.74 billion US dollars, which is the highest market value MEME (here DOGE and SHIB are not included) analyzed in these chains. Overall, among the top 100 tokens by market value on coingecko, 11 are MEME.
In order to have a deeper discussion on the development and methodology of MEME coins, PANews will launch a series of in-depth content, analyzing the chip data of the leading MEME coin projects in different categories.
Do these MEME that have become gold mines have a large number of rat warehouses? How long can the early chips be held? When do the big players start building positions, and so on, we will try to restore the true story of these MEME's funds using data. Please stay tuned!
