Don't Fight the Memes

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Don't Fight the Memes

Markets were softer today after slightly higher than expected inflation figures. BTC/ETH/SOL were all basically flat while stocks fell slightly. Alt outperformers on the day were UNI, WIF, OM and POPCAT. UNI specifically is catching a bid on Unichain hype.

The Big Four (POPCAT, TAO, FTM and SUI) have been the tokens to watch these last few months from a perps perspective, with the entire group basically doubling in the last 60d (NEIRO was actually the best performer fwiw). We’re starting to see a few more real outperformers in the alt landscape over the last 7d including:

  • NEIRO (again)

  • WIF

  • UNI

  • CHZ

  • OM

  • EIGEN

From a mindshare perspective, NEIRO, SUI and now UNI are leaders, with UNI the largest mindshare gainer on the day.

Onchain continues to be fun, especially for $5mm+ market cap coin enjoyoors. It was another day of some 50-200% moves in strong onchain memes including:

Onchain mindshare is still led by SPX but the biggest attention gainer on the day was miharu. Other notable high attention tokens included SIGMA, FWOG, mini, BITCOIN, LABUBU and CB.

DEX tool trading volumes still looking pretty good and holding ~$130mm/day on average. The new launches that got the most attention on the day included RUSSEL on base (Brian Armstrong’s dog) and GOAT (which is being shilled by a Truth Terminal?).

Interesting projects getting smart follows:

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  • Only notable new launches with smart money interest included RUSSELL and GOAT

  • Notable coins seeing smart net buying over the past 7d included pepecoin, BITCOIN, aura, mini, NEIRO, BINGUS, GIGA, USA, DOGGO and JESUS

MEME OF THE DAY

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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.