flipside

    Try Quests to earn SOLTry Quests to earn SOL
    Share

    Memecoins and the market

    About Memecoins

    Memecoins are a type of cryptocurrency that is created based on internet memes or jokes. They are usually created as a fun and lighthearted alternative to traditional cryptocurrencies like Bitcoin and Ethereum.

    Recently, memecoins have gained a lot of popularity in the crypto market. Some of the most popular memecoins include Dogecoin, Shiba Inu, and SafeMoon. These coins have seen massive price surges and have attracted a large number of investors.

    However, it is important to note that memecoins are highly volatile and risky investments. They are often subject to pump-and-dump schemes, where the price is artificially inflated before crashing down. Therefore, investing in memecoins should be done with caution and only after conducting thorough research.

    How long does a meme last? Recently, memecoin activity and prices have spiked and crashed. Where did the liquidity come from, and where has it gone? Are markets returning to a risk-off mentality?

    Compare recent memecoin price action and activity with historical trends for memecoins of prior fame. Among today's notable choices are $pepe, $bonk, $chad, (etc), whereas older coins include $doge, $shib, etc.

    In this analysis, the trend of memecoins like $PEPE and $BONK tokens has been evaluated. Also, the trend of these coins has been compared with $SHIB from the various points:

    • Price and holders
    • Inflow/ outflow of these coins into the CEXs
    • The trade analysis
    Overview of analysis
    Methodology

    The data provided by Flipside has been used to handle this analysis.

    • In this investigation, first of all, the price and holders of the $PEPE and $BONK tokens have been compared with $SHIB on the Ethereum and Solana networks.

    • After price investigation, the inflow and outflow of these tokens from centralized exchanges have been determined. Also, the net token flow into the CEXs was investigated on the selected time frames.

    • Finally, the trade analysis of these memecoins on their networks has been underestimated from various points. The sale and buy volume of tokens is determined by the selected time periods. The trend of trade activity and price of memecoins have demonstrated and compared on the final part.

    • Note: The investigation of $PEPE and $BONK tokens have been done for the past 30 days.

    • Note2: Also, the time frame of investigation for $SHIB token is considered between 2021-10-01 and 2022-01-01.