Coin World Reports:
With the volatility of the cryptocurrency market, MEME coins have become an important battleground for various ecosystems. Especially in 2024, the popularity of MEME coins has been continuously rising, attracting the attention of countless investors. This article will delve into the current dynamics of the MEME market, including the strategies of major participants, market performance, and possible future directions.
I. The current situation and challenges of Pump.fun
As the leader in the MEME coin market, Pump.fun’s team has generated over $54 million in revenue in just four months. However, data from DefiLlama reveals that Pump.fun’s revenue is inflated, with actual revenue being around $48 million. Recently, Pump.fun has experienced a significant decline in daily trading volume and active users, with overall data almost halved. This indicates that even market leaders are unable to avoid the cyclical fluctuations and intensifying competition in the market.
II. Moonshot’s competitiveness
While Pump.fun faces challenges, more competitors have entered the MEME market. Moonshot, launched by DEX Screener, is one of them. Although similar in functionality to Pump.fun, Moonshot lacks a communication board and live streaming features, making it less popular than Pump.fun. As of July 5th, Moonshot’s total revenue was only 3645.65 SOL, much lower than Pump.fun’s daily revenue. This shows that emerging platforms are unable to shake the position of market leaders in a short period of time, but it lays the foundation for future competition.
III. Jupiter’s strategy and layout
To gain a foothold in the MEME market, Jupiter has launched the market exploration tool APE. APE’s main functions include discovering newly listed tokens and providing Vault functionality. The Vault feature allows users to deposit SOL tokens into their Vault account before trading, thereby avoiding on-chain confirmation delays and risks of MEV robot attacks. Although this tool has just been launched and still has shortcomings in terms of user experience, its innovative functionality provides new ideas for future market competition.
IV. Performance of the TON ecosystem
The performance of the MEME coin market in the TON ecosystem is relatively lackluster. Platforms like Gas Pump, Wonton, and Pumper provide one-click coin issuance functionality, but overall popularity is low. Taking Gas Pump as an example, the highest market value of tokens on the platform is only $14,700, clearly failing to generate widespread market interest. This phenomenon reflects that in the fiercely competitive MEME market, innovation in technology and tools alone is not enough to attract investors; market demand and popularity are still the key factors determining success.
V. Market trends and future prospects
According to data from Coingecko, the MEME coin market has declined by 22.5% in the past seven days. Previously hot pre-sale tokens, celebrity tokens, and cat/dog tokens have all experienced significant price drops. This trend indicates that the market’s frenzy for MEME coins is cooling down, and it is not surprising that new mainstream MEME coins experience significant price reductions in a short period of time. In the future, as the market gradually stabilizes, investors need to be more cautious in selecting investment targets to avoid the risks brought by speculative trends.
VI. Strategies and recommendations
For investors, profiting in the MEME market is not easy. Firstly, it is crucial to remain calm and rational. Investors should avoid being swayed by short-term market fluctuations and develop long-term investment strategies. Secondly, a deep understanding of the fundamentals of each MEME project and evaluating its long-term development potential is essential, rather than just chasing short-term market popularity. Additionally, utilizing technical analysis tools and market sentiment indicators to adjust investment strategies in a timely manner is necessary to cope with the rapid changes in the market.
Overall, although the MEME coin market is full of opportunities, it also comes with high risks. Against the backdrop of declining market enthusiasm and intensifying competition, investors need to be more cautious and rational in their investments. By understanding market dynamics and evaluating the potential and risks of each investment opportunity, investors can find their place in this challenging market. It is hoped that every investor can achieve desirable returns in the future market.