Memecoins Are Pumping : Hype Cycle or Influencer Game?

The meme coin sector is buzzing, impacting both Ethereum and Solana ecosystems. While some see signs of a new growth cycle, others question the role of major players and potential manipulations.

Written by Gaston Cuny

Translated on May 13, 2025 at 16:44 by Sarah

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Ethereum : The Revival of Creations Inspired by Matt Furie

On Ethereum, the world of memecoins has regained impressive strength, with PEPE taking the lead. With a dedicated community, PEPE stands out through its market capitalization, the flows it attracts, and its price evolution. Beyond this leader, it is the entire range of creations inspired by Matt Furie, the artist behind Pepe, that is experiencing a renewed interest.

RATO: A character from Furie’s latest work, “Rato the Rat,” this token saw its market capitalization reach 36 million dollars before stabilizing around 15 million.
BERRY: Often described as the feminine alter ego of Pepe and featured on the artist’s Instagram account, BERRY reached a peak capitalization of 55 million dollars (currently around 3.4 million).
FROGGER: Inspired by the famous arcade game, this more recent token saw its value multiply by ten shortly after launch, reaching a maximum valuation of 2.8 million dollars. A portion of its tokens is intended for a donation to Vitalik Buterin.

Memecoins eth based — Source: CoinMarketCap

Other tokens like MOG, APU, and SPX are also showing significant growth on Ethereum. However, capital flows towards the chain’s historical tokens seem generally more focused than on Solana.

Solana : The Frenzy of Memecoins

Solana, on the other hand, remains a central ecosystem for memecoins, although facing specific challenges. Selling pressure from addresses associated with FTX and Alameda impacts the market, while the PumpFun platform captures a portion of the liquidity. In this context, profitability for individual investors becomes more challenging.

However, the transaction volume and liquidity of memecoins on Solana still significantly surpass those of Ethereum. The BONKFUN platform, created to provide an alternative to PumpFun, is seeing significant success, thanks in large part to the BONK community and influential figures like “BONKGUY.” In just 24 hours, BONKFUN generated nearly $500,000 in fees following a promotional campaign.

Several tokens stand out within this ecosystem:

USELESS: A memecoin with an “anti-conformist” concept, popular among Western communities, reaching a capitalization of 34 million dollars.
HOSICO: Inspired by a famous internet cat, this token is considered by its community to have the potential to exceed a billion dollars in capitalization within the BONK ecosystem.
IKUN: A very popular “chicken” concept within the sinophone community, approaching a capitalization of 10 million dollars.

Recent data also indicates that a significant portion of the best-performing tokens of the past week are old Solana memecoins, demonstrating a renewed interest in established narratives.

Buy memecoins on Bitget !

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Gaston Cuny

Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.

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