🎉 Gate Square Growth Points Summer Lucky Draw Round 1️⃣ 2️⃣ Is Live!
🎁 Prize pool over $10,000! Win Huawei Mate Tri-fold Phone, F1 Red Bull Racing Car Model, exclusive Gate merch, popular tokens & more!
Try your luck now 👉 https://www.gate.com/activities/pointprize?now_period=12
How to earn Growth Points fast?
1️⃣ Go to [Square], tap the icon next to your avatar to enter [Community Center]
2️⃣ Complete daily tasks like posting, commenting, liking, and chatting to earn points
100% chance to win — prizes guaranteed! Come and draw now!
Event ends: August 9, 16:00 UTC
More details: https://www
Is Solana about to revive again? Whales are quietly buying FARTCOIN, RFC, and DARK meme coins.
The memecoin market seems to have heated up again. Starting in mid-March, Fartcoin began to rebound from the bottom, rising about 349% in approximately one month, with the overall market capitalization reaching nearly $985 million at its peak. At the same time, the actions of on-chain MEME Whales have also drawn attention, as some whales have spent millions of dollars investing in FARTCOIN, RFC, DARK, and other memecoins, causing the related token market capitalizations to rapidly pump.
Behind these fluctuations, on April 11, the number of active addresses on the Solana blockchain once again broke through 5.1 million, nearing the peak level of January. This small surge in the MEME market, is it a return of the MEME bull market or just a speculative return under a boring market? This article will analyze the data of several large addresses of MEME coins that have seen significant increases recently, hoping to find some clues.
1. Fartcoin Analysis: Whale entered in mid-March, average cost about 0.62 USD
First, after observing several previously high market capitalization Tokens, the crypto circle has found that the current MEME craze is not universal, but rather concentrated among a few specific Tokens. Most of the previously billion-dollar MEMEs (such as Trump, BONK, WIF, POPCAT) are still in a decline or bottom consolidation phase. Among several Tokens reported by crypto media, apart from Fartcoin, the others are either new coins born in the last 1-2 months or Tokens that have been lukewarm since their issuance. The following are several Tokens observed by the crypto media: RFC, Fartcoin, ALCH, GOHOME, DARK, House, FAT.
The token screening rule is that the market capitalization is between 10 million and 100 million USD, and the tokens that have experienced a significant pump or rebound in the market within the last 1 to 3 months. Among them, the recently popular RFC has the highest pump, with a maximum increase of 54 times in the last month.
The leading token in this round is Fartcoin, which began a new upward trend after hitting rock bottom on March 10. Its market capitalization once reached 948 million USD, making it the leader in the MEME category again.
Analyzing the initial purchase time of the large holders reveals that this round of collective entry by large holders began around mid-March. It continued until April 10, during which the entry of large holders maintained an upward trend. In terms of cost, the initial purchase costs for the top 1000 large holders are mostly concentrated between $0.20-$0.60 and $0.60-$0.90. Based on the chart of Fartcoin, the proportion of large holders still stuck above $1 is relatively small. Additionally, a comprehensive analysis shows that the current holding large holders basically started entering after the price low point on March 12. Overall calculation indicates that the initial purchase holding cost for large holders of Fartcoin is about $0.62. With the current price at $0.844, these newly entered large holders have an average profit margin of about 36%.
2. 23% address cross-holding, DARK, RFC repeat the script
Overall, through the comparison of the top 1000 addresses holding these tokens, it was found that 23% of the addresses held at least 2 different tokens. Among them, the most held token by the addresses is DARK, which was created the shortest time ago, but 116 addresses repeatedly held this token. Next, RFC appeared the most frequently, reaching 110 times. Fartcoin has recently garnered high market attention, and its market capitalization is the highest among these analyzed tokens, but the repeated occurrence was only 76 times.
However, from the analysis of RFC and DARK, it seems that these two tokens have a relatively similar script. First, looking at the K-line chart trends of both, apart from the difference in creation time, other trends, including the rebound patterns, are similar. In addition, the data on Whale holdings for these two tokens is also quite close, with both holding over 110. Furthermore, in more detailed analysis, the market has seen that there are 75 addresses that hold both DARK and RFC, which is the most common combination among Whale holdings. Secondly, for the combination of Fartcoin and House, there are 35 addresses that hold both tokens.
In further analyzing the buying timing of addresses that simultaneously hold RFC and DARK, most of the large addresses first purchased these two tokens on April 13 and April 14, respectively. From the K-line trend, April 13 was precisely the date when RFC experienced a rapid pump, with an increase of 65% and a volatility of 107%. On April 14, DARK saw a similar market trend, with an increase of 80% and a volatility of 218%. This significant pump happening in succession seems like a maneuver of the main force changing vehicles.
Of course, it is important to note that the market capitalization of RFC reached a maximum of 138 million USD, while the highest market capitalization of DARK was only 23 million USD. It seems that the large holders behind this are not the absolute dominant force in the market, or rather, the expectations of the main players for these two tokens are different. Therefore, we cannot assume that DARK can replicate the market capitalization scale of RFC.
3. "Artificial Cow" Loves MEME Culture and AI
Among the overall data, these large holders with overlapping holdings have a total position amount of approximately 100 million USD in these 7 tokens (excluding the holdings from several major trading platforms like Gate), accounting for 8.47% of the market capitalization of these tokens.
As of the early morning of April 16, these tokens generally experienced some pullbacks. Among them, FAT has pulled back by 72.51% from its peak, while House has seen a decline of 50%, with an overall average pullback of about 37.12%. Only ALCH has had a relatively small pullback; this project is, by nature, the only AI-related token with real-world applications. However, from a cyclical perspective, ALCH may just be in a stage of market rotation upwards and has not yet entered a selling cycle.
Behind the rise in this MEME rotation, there seems to be a trace of some artificial MEME bull market. KOL @MasonCanoe stated on Twitter that the Whale addresses associated with the rise of RFC are linked to addresses that previously engaged in market-making activities for multiple Tokens such as TRUMP, VIRTUAL, and LIBRA, and are also connected to several addresses that had been early on RFC. Based on this, @MasonCanoe believes that the pump of RFC is by no means a coincidence and may be a signal of careful arrangement by large funds behind it.
From the performance of the data, it seems that the MEME on the Solana chain is indeed beginning to attract market attention again under the push of some Whales. However, since this pumping effect does not benefit all MEME Tokens, it can only be determined by tracking the real-time dynamics of these main funds. In addition, from the classification of several Tokens, it seems that Tokens themed on cats, dogs, and frogs have not been able to secure a place in the recent pump, while those primarily related to AI and MEME culture have performed prominently.
Conclusion:
Overall, the recent MEME frenzy on the Solana blockchain is not a widespread phenomenon, but rather highly concentrated on a few specific tokens, with Fartcoin leading the way and attracting a large number of new entrants after mid-March. More notably, there are a significant number of overlapping whale addresses behind the two tokens, RFC and DARK, which have very similar trends, and their main buying times are concentrated around the dramatic pumps that occurred on April 13 and 14. This strongly suggests the possibility of coordinated operations or rotation among key players. This rise does not seem to be purely a spontaneous market behavior, bearing traces of a "manufactured bull market," and whether this "artificial rain" can evolve into a natural influx of funds remains to be seen.