How many types of Solana Meme coins are there with cats and dogs everywhere

Produced by: DODO Research
Author: dt
Editor: Lisa
This week, the cryptocurrency market has continued to stagnate, with prices of most tokens continuing to plummet, even the newly launched ZK Sync and LayerZero projects. Despite this, the market’s biggest opportunities and hotspots continue to be Memecoins, with Solana Memecoins leading the frenzy. Low trading costs coupled with the emergence of Pump.fun have lowered the barrier for token launches, making Solana the most active gambling platform on the chain. According to the data report by syndica, the leading DEX on the Solana chain, Raydium, has seen as much as 92% of its trades coming from Memecoins.
This week, Cryptosnap Dr. DODO will introduce various types of Memecoins to help everyone understand the different categories of Memecoins.


Source: https://blog.syndica.io/deep-dive-solana-defi-may-2024/
Market Maker Coins
BOME/ SLERF/ MEW/ MANEKI …
The author categorizes coins from various large liquidity pools as market maker coins. Their distinguishing feature is the large pool size and rapid price hikes, presenting the best opportunity for rapid wealth accumulation. However, due to their high market value, it is often difficult to enter the market. When participating in these projects, it is important to pay attention to several factors: Project background: Take BOME, for example, where the founder, Darkfarms, is a well-known artist in the crypto community, reducing the likelihood of a rug pull. Pool lock-up / burning: With large liquidity pools, there’s a possibility of scams where the pools are completely emptied, as seen with SLERF. The surge in Fomo initially was the result of the project team burning millions of liquidity pools. Trading volume: Trading volume reflects the market’s sentiment towards the project, and specific data can be used to evaluate the project’s popularity. Market sentiment: This refers to the overall market trend, used to judge a potential peak for a project.
The author believes that these market maker coins tend to rally quickly but often experience only one wave of trading. Subsequent trends often differ from Memecoins, where substantial profits can be made with minimal investments. Due to the large pool size, it is not advisable to engage in these coins with small investments, as the returns may not be worthwhile, and secondary participation is not recommended.
Hot Topic Coins
GME/ BODEN/ TREMP/ DJT/ NCAT …
For hot topic coins, such as those related to influential figures like Elon Musk, Donald Trump, or Roaring Kitty, corresponding meme coins can often be found on the chain. The prices of these meme coins fluctuate due to various news events. Therefore, tracking news and making corresponding trading decisions is key when engaging with these meme coins. For example, the most popular DJT Trump coin on the chain this week saw a surge in trading due to rumors that Donald Trump’s son, Barron Trump, was involved, attracting many to engage in speculation. However, it also experienced a sharp decline due to the exposure of insider information by well-known CTs such as Zach XBT and GCR. Similarly, $GME experienced a surge in trading due to Roaring Kitty’s return post, but soon plummeted due to Roaring Kitty’s misleading live video.
Community Coins
POPCAT/ MICHI/ SC
The author believes that community tokens like those representing animals, such as cats and dogs, have the highest potential for returns, but also the highest failure rates. These tokens often have a long period of accumulation, allowing for the accumulation of cheap chips. However, their lack of scarcity often leads to failure. The token’s image should be eye-catching, but more importantly, the community atmosphere is crucial. The most important factor when participating in these projects is to observe whether there are enough enthusiastic community members actively involved in promoting the token. It is also important to observe whether there is a decrease or stagnation in the token’s presence on Twitter to make trading judgments.
Additionally, the author believes that community meme coins slowly gather retail consensus in a good market environment, driving prices up gradually. However, in a bad market environment, their downfall can be the fastest due to factors such as holding numerous chips and dispersion.
Celebrity Coins
MOTHER / RNT / PAJAMES
Celebrity coins have been a recent trend on the SOL chain in recent weeks. However, most celebrities are not committed to managing tokens long-term and are often short-lived. However, if a celebrity with significant mainstream influence is willing to manage the token, it has great potential. Currently, the most successful celebrity coin is $MOTHER. Iggy Azalea, a rapper with tens of millions of fans, promoted her token and actively interacted with CTs and community members, leading to its prolonged popularity. For the author, it is not advisable to rush into participating in celebrity coins. Instead, observing the celebrity’s long-term commitment before joining is a higher probability.
Others
WEN/ BONK/ WIF …
Apart from the aforementioned, there are many other types of hot meme coins. For example, $WEN launched by the Jupiter team or $Bonk, rumored to be launched by the Solana Foundation to revive Solana, have reached high market values due to the inclusion of legitimate teams. $Bonk, due to its launch during a period of great opportunity, has low entry points and high multiples, while $WEN was launched during the peak of Solana Fomo and was already fully anticipated before going online, resulting in less growth. Additionally, $WIF, the largest market value in Solana Memecoins and a benchmark in Solana Memecoins, is the most difficult meme coin to categorize. It was born as a community coin but later received capital attention, making it the most powerful meme coin in this bull market.
Author’s View
Given the ongoing downturn in the Solana Memecoin market, the author does not recommend participating in any trades. Instead, it is a good time to evaluate projects, especially community and celebrity coins. It is advisable to carefully observe whether community consensus remains firm in a downtrend and whether leading celebrities continue to invest in the token before joining. The author believes that Memecoins are not suitable for bottom fishing or ambush trading, as they do not have the so-called fundamental value to maintain bottom prices. Instead, the focus should be on drawing attention when prices rise and waiting for the right moment to select assets with good fundamentals to join the watchlist.