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Cat Coins & Old Memes
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Mantle’s mETH protocol and current mETH holders are eating good today. With EIGEN’s airdrop now launched, mETH holders are eligible for over $8mm in airdrops from its restaking campaign. With plenty of restaking token airdrops still to come, its definitely worth checking out the Mantle Ecosystem and mETH to get positioned.
Cat Coins & Old Memes
While the S&P hits record highs yet again, crypto has been on a very small dip, with BTC down to ~$63k or 3-4% off its recent high. Memes have still led from a relative strength perspective over the last week, led by BONK, WIF, ENA, SEI and PEPE which were all up 30%+.
On the day, SUI, FTM, SEI, INJ and TAO were the notable alt outperformers (aka the usual suspects). All eyes are on the newly launched airdrop token, EIGEN, which actually looks like it is going to go up unlike most of the other airdrop coins from this year. Outside of EIGEN, alt mindshare leaders on the day were DOG, SUI, POPCAT and WIF.
Onchain conditions continue to be favorable, with the strongest memes on the day putting in 50%+ moves including:
DEX bot trading volumes locally peaked on 9/27 (also the peak of moodeng) but in general things are still very good. Notably SOL has been regaining relative volume share.
From a mindshare point of view, MOODENG has held up well despite falling from $300mm to $180m. SOL cat memes + older ETH memes seem to be where attention lies now. GIKO in particular had a crazy move from $3mm → $50mm in the last week.
0-5d old tokens with $100k+ of smart holdings included just 3AC and PAI (a sign that new launches have cooled a little).
Interesting projects getting smart follows:
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EIGEN, ESTEE, ZYN and WOJAK all saw notable smart money buying on the day
While on SOL, GIKO, Manyu and omochi were the most notable
WIF, FWOG and GIKO had the strongest looked accumulation trends from smart money at the top end. While Manyu and Chud also looked very good on the smaller end
EVM balances at the top end looking a little bearish while ESTEE, DOGE and MAGA looked very good on the lower end
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Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. The author may also have positions in the tokens mentioned in the content, so please do your own research.