SOL Memes Sending (Again)

In Partnership with io.net

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SOL Memes Sending (Again)

Love it or hate it, this cycle is all about SOL & Memes. When we write this every day, the notable strength is always SOL & Memes. If you are too right curved to trade memes because of “lack of fundamentals” try using chainEDGE data to help you!

In our latest substack, we used data to arrive at high conviction meme targets, with the following results (in 2 weeks):

  • MUMU +244%

  • RETARIO +28%

  • LOCKIN +14%

  • AURA +198%

  • SPX +37

Using a combination of our new “attention data” that you see throughout this newsletter, paired with some sharp smart money movement tracking of high PnL traders, we came up with a basket of memes that is up 104% on average. We will be releasing another round of ideas early next week using the same methodology, so feel free to sub over there if you want spoonfed alfa.

Everything was straight up today, including stocks, which saw the S&P up 1% after its recent red streak. BTC and ETH were up 3% on the day, with SOL up 6%. Saylor is bull posting that BTC is going to $49mm by 2045 while Blackrock says it has little interest in crypto outside of BTC & ETH.

There was a notable bid in non-meme alts today, with outperformance seen in STMX, UMA, JITO, IO, FIL and WLD. Overall alt attention was still primarily dominated by memes, with 1d mindshare gainers seen in WLD, POPCAT and BONK.

Onchain coins (primarily SOL memes) bounced very hard today, with high attention memes up 30%+ across the board. MUMU and SCF dominated mindshare on the day, with Mog being the only non SOL token in the top 15 by mindshare. Biggest 1d gains in mindshare were seen in SCF, WOLF, BILLY, LOCKIN, nub, MANIFEST and SIGMA.

Onchain relative strength was seen in:

DEX bot trading volumes with another down day (and may fail to hit $100mm), with SOL taking relative share yet again. SOL dominance on the day rose to 74% at the expense of ETH & Base. BSC notably showing some signs of life again.

In terms of tokens aged 0-5d with $100k+ of smart holdings (aka new launches to watch), PC & BAR on ETH were notable. While on SOL, just PARRY hit these parameters.

Interesting new projects getting smart follows:

LBP to Watch: Magnify Cash

The LBP for MAG is now live. Magnify Cash is a Decentralized Credit Market that supports lending in any currency, against any collateral, on your own terms. Its product is already live on Base testnet, with mainnet launch at the end of July. What’s cool about MAG is that it can support both onchain assets and RWAs (like real estate and luxury items). Learn more here.

SMART MONEY CORNER - Presented by chainEDGE

  • DINERO and AZUR the most notable EVM smart bids of the day

  • While BRAINLET and BILLY led smart buying on SOL

  • SCF saw a small amount of profit taking (~10%) while LOCKIN balances increased 49% vs. yesterday. Every other token outside of MEW saw smart balance decreases (profit taking/selling).

  • On the EVM side, MIGGLES flips BANANA to be the #2 token by smart $ held. ANDY, PEIPEI and BOBO all saw notable accumulation trends at the top end, while on the lower end, SWAG saw smart balances decrease 47% over the past week

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.