Original | Odaily Planet Daily ( @OdailyChina )
Author｜Nan Zhi ( @Assassin_Malvo )
At 10 a.m. last Saturday, Trump issued the official Meme token TRUMP. Within two days, the highest FDV exceeded 80 billion U.S. dollars, surpassing DOGE and ranking sixth in the cryptocurrency market value.
During the bulldozer-like rise of TRUMP, the Solana on-chain tokens were first sucked, especially the popular AI tokens in the early stage, which fell across the board. Then, as more users withdrew SOL to the chain, other secondary market tokens were also sucked, and SOL once approached 300 USDT, while ETH fell to around 3150 USDT.
However, the plot took a turn soon after, with WLFI continuing to purchase ETH, and First Lady Melania releasing her Meme token MELANIA tonight, causing the ETH/SOL exchange rate to rebound sharply again.
This article aims to summarize the rise and fall of various tokens in the two days after the issuance of the TRUMP token, and to study which tokens are the strongest and which tokens have been abandoned by the market in this blood-sucking market.
Basic Situation
In the secondary market analysis, this article counts the following time nodes:
Before and after the coin issuance: 10:00 am on January 18;
The first peak: 14:00 on January 18, when the price was about 13 USDT;
The second peak: 00:00 on January 19, when the price was about 34 USDT;
The third high point: 17:15 on January 19th, when the highest price on Binance was 79.7 USDT;
Current price: around 13:00 on January 20.
In the primary market analysis, the price before coin issuance and the current price are used for comparison.
Who are the best performing secondary coins? Which coins have been abandoned?
At the second level, we have counted all the spot tokens listed on Binance, and the data is shown in the figure.
The tokens that have appeared on the gain list for three consecutive times include RAY, SOL, BTC, JTO, DEXE, etc. It can be clearly seen that three of the tokens are Solana concepts, and among the three tokens, SOL has the best overall performance (it is better to buy SOL directly than to buy other tokens). The main line of this bull market is still BTC and Solana.
There are four tokens that have appeared on the decline list three times in a row , including PNUT, ACT, PHA, and NEIRO . They all belong to the Meme or AI concept, and they were the most popular tokens in the previous period. For example, PNUT (squirrel) is a meme concept for the election, but its narrative is no longer important after the emergence of TRUMP; PHAs TEE technology was discovered by the market in the previous ai16z-related token aiPool, but the narrative was not taken up again, so it fell sharply. Tokens that are not controlled by strong market makers or have continuous narratives will be eliminated first in the current market.
On-chain AI tokens have also been severely drained, so which tokens have performed well?
AI Token Review
We have counted the top 20 AI concept tokens (limited to pump.fun) on the Solana chain, and their rise and fall are shown in the figure below. Most tokens fell by 30% - 40%, and those that did not fall significantly or even rose included Fartcoin, GRIFFAIN, arc, GRIFT, BUZZ, and AIOS, which should be the focus of attention in the future market.
