Ethereum Leads Meme Revival as Solana Ecosystem Faces New Challenges

The crypto market has recently shown signs of recovery, with Ethereum performing particularly well over the past week. With multiple favourable factors such as the Pectra upgrade, continuous ETF buying, and the successful Virtual IPO model, the price of Ethereum continues to pump, while also reviving on-chain Memecoins.

In contrast to the Solana ecosystem, although established secondary Memecoins and AI sector tokens are experiencing a general rise, the pace of the primary market is accelerating, lacking new narrative support. The upper market is facing continuous selling pressure, while the lower market is being drained continuously. Apart from the Bonk system still outputting new projects, ordinary participants find it hard to profit.

The revival of Ethereum Meme tokens is mainly reflected in the return of the Matt Furie concept. Pepe remains solid in its position as the leading ETH Meme, while derivatives like ANDY and BRETT are also performing well. As Ethereum strengthens, old players are picking up the Matt concept again, bringing this long-dormant "Meme chain" back to life.

New projects worth paying attention to include:

RATO: A character in Matt Furie's new book, with a peak market value of 36 million dollars.

BERRY: The female version of "Pepe" that has appeared multiple times on Matt's Instagram, with a peak market value of 55 million USD.

FROGGER: A classic arcade game adaptation, recently surged by 10 times, with a peak market value of 2.8 million dollars.

Some analysts believe that the consistent art style of the Matt series characters is easily recognizable. If Ether initiates a new round of market activity, new leading projects may emerge.

In terms of the Solana ecosystem, although the number of players making profits is decreasing, the trading volume and liquidity are still higher than ETH Meme. Platforms like BONKFUN are working hard to combat the influence of PumpFun and have achieved some success. Recently, BONKFUN launched an incentive program, creating 6,911 tokens within 24 hours, generating approximately $500,000 in fees.

Projects worth paying attention to on Solana include:

USELESS: Inspired by BONKGUY's tweet, the market value once soared to $34 million.

HOSICO: BONKFUN early token, regarded as the most promising Memecoin to break through a market value of 100 million.

IKUN: Originating from the Chinese community's "chicken" concept, with a market value close to 10 million USD.

In addition, established meme coins such as MoonDeng, PNUT, and TITCOIN are also showing a collective explosion trend.

However, some analysts believe that this round of on-chain prosperity does not involve incremental capital and is merely a self-rescue by the manipulators. With the streamlined production of Meme tokens, large-cap Memecoins are becoming increasingly rare. In the current market cycle where the duration is shortening, investors need to respond cautiously, balancing greed and fear.