Is the Ethereum meme popular again?

Today, Trump became the first former president in the history of the United States to be convicted. As the "index" of the crypto community's attention to the topic, Trump-related concept coins also fluctuated sharply.

Interestingly, Trump-related news has dominated the crypto community for nearly a month, and related meme coins have almost covered most of the popular chains, and the survival time of "trump" on each chain is different. A month later, the only ecosystems with related memes surviving are Ethereum and Solana, and their respective "meme survival rules" are just the opposite.

Trump fever strikes again, and Ethereum players react most sensitively

On May 31, a jury member of a New York court responsible for 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, so Trump will become the first former president in the history of the United States 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 increasers, 3 are Trump concept coins. And there is only one Trump-related coin in the corresponding list of Solana.

In addition, the difference between the two can be clearly seen from the market value. On Ethereum, you can find TRUMP and MAGA with a market value of more than 10M, but on Solana, they are no more than 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 brewing, it started in January this year, rising from $0.31 to the current $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 by nearly 30% in a short period of time, and then quickly rising by more than 75% to recover the decline and return to a high of $14.

Two days ago, when TRUMP on Ethereum hit a record high of $15.4, the community monitored 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 changed.

For example, the popular Trump concept coin MAGA on Solana these two days is very "fresh". It was launched a week ago and "completed its life" in 48 hours. After the news this morning, MAGA doubled immediately, and then quickly retreated sharply.

Will "BOME" appear on Ethereum?

On May 28, a Meme coin pepe in a memes world (PEW) appeared on the Ethereum ecosystem. After it went online, it rose all the way and gained a 180-fold increase in two hours.

From the K-line chart, it can be seen that after reaching 180 times in 2 hours after 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 nearly 24-hour increase of more than 380%, and is about to set a record high.

In addition to PEW, another meme coin JJ, which was launched two weeks ago, has also shined 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%.

The protagonist of the recently highly discussed "Celebrity Coin", Caitlyn Jenner, also came to Ethereum yesterday to release the token of the same name after his team released the token on the Solana ecosystem meme release platform pump.fun. However, JENNER does not seem to have found Ethereum's "meme survival law" and is currently on the road to zero.

Two months ago, community KOL Orange Book published an article titled "Meme is to public chains like restaurants are to cities". This article uses an interesting metaphor to explore the development of public chains and the role of meme culture in them. The author compares public chains to cities, and memes are equivalent to restaurants in cities.

Meme culture is a "quasi-luxury" for public chains. It is not just simple entertainment, but a sign of the prosperity and development of the public chain ecosystem. Meme culture can continuously bring new vitality and stories to public chains, which is crucial to maintaining the attractiveness and activity of public chains.

Because Ethereum started early and seized the opportunity of ICO (initial coin offering), it has taken a leading position in the development of public chains and has become 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.

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