I have exited 90% of my memecoin positions on Ethereum, including PEPE, MOG, KEKIUS (leaving 10% as a keepsake).
1/ ETH has seen over 10 weeks of price increases, however, there is NO significant on-chain trend, especially for memecoins. Since Trumpcoin surpassed Pepe in market cap at the beginning of the year, meme builders can understand where the real meme game lies.
2/ Elon Musk has made great efforts to support Kekius, but the volume is weak; it seems the ETH community is still hoping for something related to techcoins and is not quite ready for memecoins.
3/ The performance of ETH memecoins in July and August each year is always weak.
4/ The SOL/ETH chart is showing a rebound and has a clear on-chain trend as well as more active activity. Not just memes, techcoin and AI projects are now also choosing Solana for development.
5/ The ETH Foundation has announced diversifying asset holdings, switching to a defensive mode, and continuously talking about "long-term". Therefore, there are no further price increase expectations for ETH this year.
I still maintain my positions in Dogecoin and Trumpcoin. Additionally, I will buy and further support memecoins on Solana and BNB Chain.
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