Since mid-March, some MEME coins on the Solana chain have seen a significant rebound, with $Fartcoin increasing by 349% and its market cap once approaching $985M, drawing market attention.
At the same time, active addresses on the Solana chain have returned to 5.1M, providing some background for market recovery.
Data tracked by PANews shows that this round of price movement is not a comprehensive rebound, but rather concentrated on a few tokens, such as $Fartcoin, RFC, and DARK.
Looking at the large holder positions of $Fartcoin, the main players started entering the market in mid-March, with an average holding cost of about $0.62, and are currently showing a paper profit of about 36%. RFC and DARK, on the other hand, show obvious characteristics of fund rotation: the main buying time for both was concentrated on April 13th and 14th, respectively, with highly similar trends, and the overlap of large holders with repeated positions reached 75 addresses.
In addition, 23% of large holder addresses hold at least two MEME tokens at the same time, with a total holding value of about $100M, accounting for 8.47% of the total market cap of the tokens in the analyzed sample. Among them, DARK and RFC are the token combinations with the highest frequency of repeated holdings.
In terms of the market, tokens such as FAT and House also participated in the rise, but generally showed a correction after mid-April, with an average decline of 37%. The only one with a relatively small correction was ALCH, which has an AI narrative background.
Although $Fartcoin drove short-term popularity, established MEME coins such as $Trump, BONK, and WIF are still in a state of fluctuation or decline. Twitter user @MasonCanoe pointed out that some whale addresses may be related to the operating funds of past tokens such as $TRUMP and VIRTUAL, suggesting that this round of increase may be driven by structural funds.
This round of Solana chain MEME craze is not a comprehensive recovery, but more like a structural rotation, and it remains to be seen whether it can evolve into a natural market with sustained capital inflows.