BONK Guy Was Right

In Partnership with $IO

$IO traded up 35% in the last week, the strongest out of all the major DePin coins. And this was likely driven in large part to the massive amount of growth the platform has been seeing in daily network earnings, which continue to break ATHs and currently are at $33k. I don’t know about you but it’s hard not to be bullish on $IO.

BONK Guy Was Right

Things are definitely getting silly. BTC tapped $90k ATHs and has retreated back to $87.7k as of writing. While ETH & SOL remain at $3.2k / $205. Coinbase has risen to the #2 spot for finance apps in the iOS app store (which is usually a decent top signal). Moonshot also saw record deposits today which is another sign retail is here in a big way. BONK has nearly doubled in the last 8 days and was the strongest top 100 coin by far, trading up 23%. The token is the only other meme outside of DOGE & SHIB on Coinbase and nearly hit ATHs before a slight retrace.

Other top 100 strength was seen in XLM, XRP, FLOKI, TRX, GOAT and PEPE. Recent Binance listing PNUT almost doubled in the last 6 hours to $800-900mm and the other recent Binance coin, ACT, is slowly grinding to $600mm. The BTC ETFs have seen ~$2bn of inflows in the last 2 days while ETH saw record inflows today.

DOGE saw a mindshare breakout on the day, driven by announcements around Trump’s department of government efficiency (which sent onchain DOGE to new highs of $350m+). PEPE, PNUT, XRP, BONK and DOG were the other highest attention perp coins on the day.

Onchain memes sold off ~20% across the board as they chased PNUT, DOGE (eth), BONK and ACT. This selloff included most AI memes as well. Onchain strength on the day was seen in a different set of memes vs. the usual suspects, led by doge on sol (a classic sleeper pick):

• Doge (sol)

• RIZO

• BULLY

• DTF

• LUM

• BONGO

• Peanut (v2)

• DOGE (eth)

• SBR

• FRED

• SHRUB

• pnut

The strongest new launches on the day were seen in BANANA ($15m) and DJPUMP ($8m peak). Onchain mindshare has been getting increasingly scattered as traders search for the next meta or runner. MUMU on eth led mindshare on the day (outside of DOGE of course) with other notable coins like Ban, NVIDIA and LUCE.

DEX bot volumes slipped a bit on the day following softness across most coins to $145mm. SOL remains by far the volume leader.

0-5d old tokens with $100k+ of smart money balances included LUM on Base and a few SOL coins including:

Interesting accounts getting smart follows:

• the oracle

• ai16z after getting mentioned in Binance’s research

• Vector

• Untitled

• Bullrun

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• EVM smart flows were led by buys on PAAL, SPX and ElonRWA

• While SHRUB, DOGE and SBR were the most notable coins with very high smart money ownership

• SOL smart money was seen bidding Pnut and Cupsey primarily

• While LUCE and Pnut led smart $10k+ wallet counts. SOL balances in general have been trending down over the past week

MEME OF THE DAY