Cats and dogs are everywhere. How many types of Solana meme coins are there?

Produced by: DODOResearch

Author: dt

Editor: Lisa

The cryptocurrency market has been in a continuous slump this week, with most token prices continuing to fall. Even new projects like ZK Sync and LayerZero have not been spared. The biggest opportunities and hotspots in the market are still Memecoins, with Solana Memecoins being the craziest among them. Low transaction costs and the emergence of Pump.fun have reduced the barriers to issuing coins, making Solana the most active casino on the chain. According to data from node service provider syndica, up to 92% of transactions on Raydium, Solana's top DEX on-chain, come from Memecoins.

This week's Cryptosnap Dr.DODO will introduce several famous Memecoins in this bull market to help you understand the different types of Memecoins.

Source:

Market Maker Coin

BOME/ SLERF/ MEW/ MANEKI …

I classify coins from various large pools into the category of exchange coins. The characteristic of these coins is that the pools are large and they pump very quickly. They are also the most likely targets for overnight wealth accumulation. The position capacity to invest is not only large, but also high in leverage. However, the high market capitalization often makes it difficult for people to enter the market at once. When participating in such projects, there are several points to note.

• Background: Taking BOME as an example, the founder Darkfarms is a well-known artist in the crypto world, and the possibility of Rug Pull is low.
• Is the liquidity pool locked/burned: Besides being a dealer's plate, the big pool is very likely to be a scam plate that completely empties the pool. Taking SLERF as an example, the project burned tens of millions of liquidity pools, which is also the reason why it was so Fomo in the early stage.
• Volume: Volume represents the specific data display of the market's sentiment towards this project, and can be used to assess the project's popularity in conjunction with the trading volume.
• Market Sentiment: Here, market sentiment refers to the overall market trend, used to judge the potential high point of the project.

The author believes that this type of whale coin can rise rapidly, but usually only has one wave of market trends. The subsequent trend is often different from the investment logic of Memecoin, which is characterized by small capital and high leverage. Due to the large pool, it is not advisable to participate again with small funds due to poor returns.

Hot Topic Coin

GME/ BODEN/ TREMP/ DJT/ NCAT …

Hot topics such as Musk, Trump, or Roaring Kitty, and other highly popular figures, can often be found on-chain with corresponding meme coins. However, these meme coins can also experience price fluctuations due to various news events. Therefore, tracking news and making corresponding trading actions is crucial when participating in these meme coins. For example, this week, the hottest on-chain coin was DJT Trump Coin, which attracted a lot of attention due to rumors of Barron Trump's involvement and a large pool for speculation. However, it also experienced a big dump due to news exposing its insider information by famous CTs like Zach XBT and GCR. Similarly, $GME experienced a frenzy of speculation due to Roaring Kitty's return post, but soon after, it experienced a big dump due to the lack of substance in Roaring Kitty's live video.

Community Coin

POPCAT/ MICHI/ SC

The author believes that this kind of community token for cats and dogs is the type of meme with the highest odds but also the highest failure rate. The odds are highest because such tokens often have a long enough bottom time to accumulate cheap chips, but at the same time, due to the lack of scarcity, they are also very easy to fail. The avatar of the token is the first key point to catch people's attention, but more importantly, it is the community atmosphere. The most important point of participating in such projects is to join the community and observe whether there are enough enthusiastic community members actively involved in promotion. At the same time, it is also necessary to observe whether there is a decrease or stagnation in the volume of the token on Twitter to make trading judgments.

In addition, the author believes that community-based meme coins slowly gather retail consensus in a good market environment, driving prices to slowly rise. However, when the market environment is not good, the price may drop the fastest due to factors such as holding many scattered chips.

Celebrity coin

MOTHER / RNT / PAJAMES

Celebrity tokens are the recent trend on the SOL on-chain in the past few weeks, but most celebrities are not interested in managing tokens for the long term. Many are just a flash in the pan. However, if a celebrity with a huge following outside the crypto community is willing to manage the token, it has great potential. Currently, the most successful celebrity token is $MOTHER. Rapper Iggy Azalea, with tens of millions of fans, promoted her token actively and interacted with the crypto community, which is why the momentum has lasted for so long. For me, whether to participate in celebrity tokens should not be rushed, but rather observing for a few days to judge whether the celebrity is committed to long-term management before joining for a higher success rate.

Others

WEN/ BONK/ WIF …

And besides the above-mentioned, there are of course many 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. Both have reached such high market capitalization due to the participation of legitimate teams. $Bonk started with a low base and high multiple due to its birth during a period of neglect, but $WEN, born during the hot Solana Fomo period, had already reached the expected value before its launch, so the multiple is not high. In addition, $WIF, the largest market cap among Solana Memecoins and the bellwether of Solana Memecoins, is the most difficult to classify meme coin. Born as a community coin, it later received the attention of capital, thus jumping to become the strongest target of Memecoins in this bull market.

Author's point of view

Given that the Solana Memecoin market is going through a period of avalanche, I do not recommend participating in any trading at the moment. Instead, it is a good stage to discern the projects, especially community coins and celebrity coins. You can carefully observe whether the community consensus is still firm under the downward trend by delving deep into the community. As for celebrity coins, you can observe whether leading celebrities can continue to invest in this token.

I believe that Memecoin is not suitable for left-hand trading, such as lurking and catching the bottom. Memecoin does not have so-called fundamental value to maintain the bottom price, but more attention economy to attract more attention only when the price rises. A more appropriate way is to select targets with good fundamentals and add them to the watchlist, waiting to join when the wind rises.