The MEME market seems to have heated up once again. Starting in mid-March, Fartcoin began to rebound from the bottom, rising about 349% over approximately one month, with a total market value peaking close to $985 million. At the same time, the actions of on-chain MEME whales have also attracted attention, with some whales spending millions of dollars to invest in Fartcoin, RFC, and other MEME coins, triggering a rapid increase in the market value of related tokens.
Behind these fluctuations, on April 11, the number of active addresses on the Solana chain once again broke through 5.1 million, approaching the peak level in January.
This small explosion in the MEME market raises the question of whether it is a return of the MEME bull market or just a return of speculative capital in a boring market. PANews conducted data analysis on the addresses of several major holders of MEME coins that have recently seen significant increases, hoping to find clues.
Fartcoin Analysis: Whales entered in mid-March, with an average cost of about $0.62.
First, after observing several previously high market capitalization tokens, PANews discovered that this round of MEME craze is not universal but concentrated among a few specific tokens. Most of the previously over $100 million MEME tokens (such as Trump, BONK, WIF, POPCAT) are still in a declining or bottom oscillation phase. Among the several tokens counted by PANews, apart from Fartcoin, the others are either newly born tokens in the last 1 to 2 months or tokens that have remained lukewarm since their issuance. The following are a few tokens observed by PANews: RFC, Fartcoin, ALCH, GOHOME, DARK, House, FAT.
The token screening rule is for tokens with a market capitalization of between $10 million and $100 million, which have seen significant increases or rebounds in the market in the past 1 to 3 months. Among them, the recently popular RFC saw the largest increase, reaching a maximum increase of 54 times in the past month.
The leading token of this round is Fartcoin. After dropping to a low on March 10, Fartcoin has started a new upward trend. Its market capitalization once reached $948 million, once again becoming the leader of MEME.
Analyzing the initial purchase time of major holders, it can be found that the collective entry time for major holders this round started from mid-March. This continued until April 10, with the entry of major holders maintaining an upward trend.
In terms of cost, the initial purchase costs of the top 1,000 major holders are primarily concentrated between $0.2 to $0.6 and $0.6 to $0.9. Combined with the chart of Fartcoin, it can be seen that currently, only a small proportion of major holders are stuck above $1. Furthermore, comprehensive analysis shows that the current holding major holders mostly started entering after the price low on March 12.
Overall calculation shows that the initial purchase cost for major holders of Fartcoin is about $0.62. At the current price of $0.844, these new major holders have an average profit margin of about 36%.
