Recent events on Ethereum show active accumulation of high-risk meme coins. Over the past fortnight, several aggressive wallets have invested more than $5 million, with PEPE taking the lion’s share.
Who’s Pulling the Trigger?
On-chain data revealed that PEPE racked up $24 million in total volume, with only a fraction coming from the tracked degen wallets, which collectively deployed around $5 million across various meme coins. Notable early allocations included smaller tokens like RESOLV ($2.8 million), ZEUS ($2.5 million), and IRIS ($1.4 million), suggesting a rotation towards fresher opportunities beyond traditional memes.
Volume vs. Performance Analysis
Performance charts confirm that not all meme coins are equal. For instance, BOBO led with a modest +11.7%, while others experienced significant losses: FOLKI decreased by −33%, and Elon-token shed −19%. These findings suggest that while degens are accumulating, there is also considerable volatility in token performance.
Rise of New Tokens
RESOLV and ZEUS are frontrunners in the new generation of meme coins, logging around $5.3 million in trades. The swift capital inflow into newly launched coins highlights a shift from established memes to more speculative assets, potentially affecting pricing dynamics and trade activity across exchanges.
The current wave of meme coin accumulation on Ethereum shows a high concentration of capital in a few leading tokens. This trend may increase volatility and lead to rapid shifts in investor interests.
