DJT & Down Only

In Partnership with Io.net

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DJT & Down Only

Ugly day in the market, with BTC down 1%, ETH down 3% and SOL down 7%. Most larger alts were down double digits, and basically everything traded down over the day. Market wide we saw $266mm of liquidations yesterday and another $192mm already today. The ZK airdrop and token launch also took place, with the price action following the typical down only pattern.

The “wheel of dilution” continues to be a common theme onchain, with only 2-3 tokens holding attention while everything else struggles. Today’s examples are DJT and BILLY. DJT in particular is dominating attention now, as its rumored to be Trump’s official coin, spearheaded by his son Barron. Whether its real or not, the market has placed its bets, with the token running to a $380mm peak and still holding around $280mm currently. BILLY was also a onchain leader doubling over the last 24hr on $100mm of volume.

Daily TG trading volumes have turned soft again after a pretty strong showing last week. SOL is back to dominating with 70%+ share, taking relative positioning away from ETH, BASE and BSC.

Only a few bright spots of onchain relative strength outside of DJT, including:

• BILLY

• STONKS

• PORK

• SPURDO

While the weakest onchain coins included:

• BEER

• ZACK

• MOTHER

• RNT

• GME

• PEIPEI

Sub 5 day old tokens with $100k smart holdings on SOL included DJT, BILLY and WOLF (looks like smart money is smart).

Some interesting new projects getting smart attention (without tokens):

• Uncharted

• B3

• SHOG

• O Bot

• Time.Fun

• Playback

SMART MONEY CORNER - Presented by chainEDGE

• Notable EVM smart bids into PEPE, RCH, JOTCHUA, QDFI, WOOF and KEYCAT

• SOL flows dominated by DJT along with BEER, BILLY and michi.

• DJT and BILLY quickly shot into the top 10 my smart dollars held, with DJT taking the #2 spot behind WIF.

• The EVM side is still led by PEPE, TRUMP & BANANA, though TRUMP did see $150k+ of smart selling today on the news of the “official” DJT token. Mostly profit taking / position trimming across the board was seen.

MEME OF THE DAY