When the next "election event" happens, should you choose Solana or Ethereum to buy memes?

As soon as the news of Trump's shooting came out, dozens of memes jumped up. FIGHT and EAR quickly became the new round of 100-fold coins, but not everyone can get the first wave of meme gains in time. If you are not willing to wait for the next explosion, you must hurry up and get on board. Ethereum and Solana are recognized as the most profitable chains for meme, but which one do you choose?

Several sets of data to see which one is the best at buying memes?

In the meme craze in recent months, event-based memes, celebrity coins, and PolitiFi are the main categories of memes. Among them, the three memes that have representative targets on both Solana and Ethereum are GME, JENNER, and FIGHT.

BlockBeat selected the above three groups of meme coins with the best performance on Solana and Ethereum, and compared and analyzed them in terms of coin issuance efficiency, liquidity, and duration.

Time efficiency comparison: Solana has a first-mover advantage

Time efficiency refers to the speed of meme releases on Solana and Ethereum after the relevant event occurs. Because meme has a serious PvP phenomenon, whoever issues the coin first will find it easier to gather funds, and the earlier the buyer enters the market, the easier it is to make a profit.

On May 13, GameStop US stocks soared, and Roaring Kitty, the "retail stock god" behind the GME short squeeze, returned to the public eye after three years, and its meme coin of the same name, GME, became the hottest hype target at the time. Since GME is not a new concept, the original GME token was deployed on Solana, and then around 6 pm on the 13th, a new GME was deployed on Solana, and the first GME on Ethereum was released at 12:30 noon on the same day.

The left picture shows the new GME on Solana, and the right picture shows the GME on Ethereum

However, when faced with a new concept to issue a coin, because Pump.fun has lowered the threshold for meme release, Solana has undoubtedly become the fastest public chain to release memes.

On May 27, Kardashian's father, transgender woman Caitlyn Jenner, used Pump.fun to release the meme coin JENNER, and mentioned Ansem, Paul and other crypto community meme OGs in the comment area to warm up the token. Three days after JENNER popularized the concept of "celebrity coin", a meme with the same name appeared on Ethereum.

The left picture shows JENNER on Solana, and the right picture shows JENNER on Ethereum

On July 14, Trump was shot in the ear while speaking at a campaign rally. While being protected by security, he raised his right fist and shouted "Fight". Only 15 minutes after the news was released, 24 FIGHTs emerged on Solana, and the best-performing FIGHT was released at 6:50 am on the 14th. Although the number of FIGHTs on Ethereum is comparable to that on Solana, the earliest meme appeared at 9 am on the 14th, 2 hours later than Solana.

The left picture shows FIGHT on Solana, and the right picture shows FIGHT on Ethereum

Liquidity comparison: Ethereum has better liquidity

Liquidity is the most intuitive indicator of a currency's basic information, reflecting its growth potential and the ease of buying and selling. Assets with high liquidity reflect that they are "priced and marketable" in the market, and investors can buy and sell them flexibly; on the contrary, low liquidity means that assets are "priced but not marketable" and are more difficult to sell in the market.

On the one hand, as the hype of GME has faded, liquidity has basically withdrawn. On the other hand, as mentioned above, GME is not an emerging concept, and most of its liquidity is concentrated in the most primitive tokens. Here we only compare the newly released GME.

The liquidity of GME on both Solana and Ethereum is less than 10 million, but the liquidity of GME on Ethereum is still about 80 times that of Solana. Ethereum's GME trading volume is still 250,000 US dollars, and the buy and sell orders are basically the same, while Solana's GME trading volume is only 690 US dollars.

The left picture is the new GME on Solana, the middle picture is the initial GME on Solana, and the right picture is GME on Ethereum

JENNER on Ethereum was released 3 days later than Solana, but its liquidity is not worse than Solana, and it is even slightly ahead at $293,000, and its trading volume is 6 times larger than Solana. Since the launch of the coin, the market value of JENNER on Ethereum has reached 2 million US dollars, but the market value of JENNER on Solana is only 709,000 US dollars, about one-third of Ethereum.

The left picture is JENNER on Solana, and the right picture is JENNER on Ethereum

FIGHT is a new meme launched during a long period of market downturn, and it is still in the hype period. Although Solana's FIGHT was launched first and can achieve a maximum increase of more than 600 times, at present, liquidity is gradually concentrated on Ethereum, which has a liquidity of 1.4 million US dollars, about twice that of Solana. However, the market value of Solana's FIGHT is lower, and the buying orders are greater than the selling orders, while the buying and selling orders on Ethereum are almost equal.

The left picture is FIGHT on Solana, and the right picture is FIGHT on Ethereum

Duration comparison: Ethereum's increase is more sustained

Unlike JENNER and FIGHT, GME is a concept that existed before the emergency occurred. Therefore, in the subsequent hype, the "GME consensus" of the crypto market gradually converged on the "old GME" of the Solana ecosystem, and stayed at a high level in sync with the US stock GME.

However, if we only compare the many new "GME imitations", we can still see that the GME deployed on Ethereum is more favored by degen due to the "Ethereum ecosystem + low circulation market value", and has gained dozens of times in two days. However, because the Solana ecosystem already has GME-related meme coins, the new coin quickly died after a short rise and survived for only one day.

The left picture shows the new GME on Solana, and the right picture shows the GME on Ethereum

JENNER on Solana achieved a 160-fold increase in just one night, but it showed a clear trend of returning to zero only three days after the coin was issued. JENNER on Ethereum reached a local high three days after its release, and then on June 11, more than a week after the coin was issued, it still reached a new high of $0.007. It remained around $0.005 for several weeks, and did not begin to show a clear downward trend until early July.

The left picture shows JENNER on Solana, and the right picture shows JENNER on Ethereum

FIGHT is the most popular Trump concept meme in recent days, and the trend of FIGHT on Solana has shown three rising highs. The first high point occurred at 11:45 a.m. on the 14th, and the price remained around $0.004 for nearly an hour before starting to fall. Six hours later, the price bottomed out at $0.002 and rebounded. Around 10:30 p.m., FIGHT rose to a local high of $0.013. Subsequently, as the sell orders increased, FIGHT fell sharply again and rebounded here early this morning.

FIGHT on Ethereum has been in an upward trend since its release. As of the time of writing, the price is $0.034, an increase of 164 times. Although not as high as Solana's 400-fold increase, its trend is safer and healthier.

The left picture is FIGHT on Solana, and the right picture is FIGHT on Ethereum

Memes still have a hundredfold chance

From GME to JENNER to FIGHT, the problem of meme speculation is becoming more and more obvious, that is, there are more and more tokens with the same name. On the one hand, this is because the functions of coin issuance platforms such as Pump.fun have lowered the threshold for meme release. When you open dex and face dozens or hundreds of tokens with the same name, it is difficult to judge which meme to rush in a short time.

The era in which everyone can issue coins has gradually led to the problem of consensus fragmentation. Instantly pulling up the market and shipping, and then investing in the next meme has almost become a safe means. This phenomenon is more obvious on Solana. Although it has the first-mover advantage in issuing coins, the risk of attracting funds later is higher. In contrast, the performance of Ethereum meme is more stable.

DaMoon Lab co-founder Wen Yue sorted the comparison of Dex transactions in various ecosystems. From the figure, it can be seen that the current phenomenal tokens are still centered around the Trump concept. Affected by this, the Ethereum mainnet dex transaction volume almost doubled, surpassing Solana again after 10 days. Wen Yue pointed out that FIGHT still occupies an advantageous position, and in the battle for FIGHT, the token with the same name on Ethereum also surpassed it.

Image source: @_wmoon

After a long period of silence in the market, the Trump shooting incident has once again triggered a meme craze. Although everyone is shouting that the 100x "Golden Dog" is almost all born on Solana, if you enter the market late and are unwilling to join Solana's PvP, then give Ethereum a little patience, and you may also be able to earn the same 100x.

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