A $36mm Hippo?

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A $36mm Hippo?

Interesting day with crypto strength and stock weakness. BTC was flat while ETH and SOL were up ~4%. The BTC ETFs are getting options (bullish) while Saylor keeps buying more BTC. Alt strength on the day was seen in GLM, BLUR, SEI, APT, SUI, TAO and FET. Side note: SUI & TAO keep showing up in here, along with the other 2 strongest tokens over the last 7d TIA and FTM. SUI also now leads alt mindshare, followed by CAT.

The onchain market is truly back, with MOODENG running to $36mm and new launch DOGGO running straight to $12mm. Hot launch from yesterday, MISHA, looked like it was going to continue its run before it was confirmed that the narrative was made up. Relative onchain strength on the day was led primarily by memes including:

• MOODENG

• FAC

• GOU

• DOGE

• LMEOW

• LEMON

• hehe

• RETARDIO

I recently put together my case for why we are so back and my favorite onchain picks right now which is definitely worth checking out.

DEX bot volumes have bottomed out and are surging again, which is very bullish for onchain coins. Notably this strength is all driven by ETH, which is now back to March highs in terms of relative volume share.

From a mindshare perspective, wDOG, SCF and MOODENG are on top, with the first 2 being the largest attention gainers on the day. Other newer coins like BERRY, XMW and LUCI being on the attention leaders page is also very notable.

In terms of 0-5d old tokens with $100k+ of smart ownership, just DOGGO and XMW hit the parameters at the moment.

Interesting projects getting smart follows:

• Vana

• Bullet

• Hemi

• Boundless

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SMART MONEY CORNER - Presented by chainEDGE

• CATE was the most notable coin that EVM smart money was buying on the day

• Looking at new launches of the day, DOGGO was the most popular with $189k of smart buys and with nearly $900k of smart holdings

• SOL coins saw limited bids on the day

• Looking at SOL smart volumes, MEW, FWOG and mini were skewed bullish while MOODENG has cracked the top 10 most held by smart money.

• On the EVM side, balances were looking more bearish across the board, except for new launch DOGGO.

MEME OF THE DAY