Meme tokens are gaining traction by attracting new buyers and solidifying their market positions. New metrics reveal that the influx of new wallets helps keep these tokens away from whale control and other large stakeholders.
Growth of Meme Tokens Popularity
Meme tokens like Gigachad (GIGA) and DogWifHat (WIF) are attracting significant investments from new wallets. This indicates that the assets have become cults of long-term holding. GIGA, for example, accumulated $26.4M from new wallets, allowing many to enter the TOP 1000 richest token holders.
Competition Among Tokens
Besides GIGA, other tokens also showcase high activity. WIF and POPCAT became the third largest memes to spark new wallet creation. These assets have gained significant trust and attract new participants due to their popularity in media space.
Impact of Solana Ecosystem
Solana's ecosystems are strengthening memes, occupying most places in the TOP 20 meme tokens. High activity around tokens also increased the fees for Raydium and Jito, making Solana a suitable chain for active trading due to low fees.
Meme tokens continue to attract new investors and solidify their positions as long-term investment objects. With the growing popularity of ecosystems like Solana, their role in the market becomes increasingly significant.
