The “Memecoin Trend is Dead” Narrative

According to Santiment’s latest assessment, a strong sense of nostalgia and resignation has taken hold among market participants. A growing number of traders appear to be writing off the memecoin sector entirely, treating it as a relic of a previous cycle.

Historically, such broad-based pessimism can serve as a classic capitulation signal. In financial markets, when a specific segment is widely declared “dead,” it often signals peak negative sentiment — a condition that contrarian investors closely monitor. Santiment argues that sectors abandoned by the crowd frequently approach maximum pain levels, which have often coincided with market bottoms in past cycles.

Market Context Behind the Decline of Memecoin Trend

The weakness in memecoins has unfolded alongside a broader crypto market correction. On Feb. 3, Bitcoin fell to the $60,000 level — its lowest price since October 2024 — intensifying pressure across higher-risk digital assets.

Within the top 100 cryptocurrencies over the past seven days, most memecoins posted only modest gains. Pippin (PIPPIN) stood out dramatically with a 243.17% surge, while Official Trump gained 1.37% and Shiba Inu rose 1.11%. Outside of these exceptions, overall performance remained subdued, reinforcing the cautious tone in the sector.

A Changing Altcoin Landscape

In previous cycles, capital typically rotated from Bitcoin to Ethereum and eventually into higher-risk altcoins once Bitcoin established new highs. However, Bitcoin’s maturation and increasing institutional involvement have led some analysts to question whether this familiar rotation pattern will unfold in the same way.

There is growing speculation that the next altcoin season, if it materializes, may not resemble the broad-based rallies of the past. Instead of a “rising tide lifts all boats” environment, gains could become more selective and concentrated.

Fear as a Potential Reversal Signal

Santiment also highlights a noticeable surge in bearish commentary across social media. Historically, extreme pessimism has often preceded market recoveries, as markets tend to move against prevailing consensus expectations.

While the memecoin sector currently appears fragile, sentiment data suggests that conditions associated with potential reversals may be forming. Whether this translates into a sustained recovery or merely a limited rebound remains dependent on broader market dynamics.

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Over the past week, the total market capitalization of memecoins increased by more than 23%, rising from approximately $38 billion to $47.7 billion. This sudden recovery suggests a noticeable shift in investor behavior, particularly after risk appetite weakened significantly toward the end of last year.

Trading Activity Surges Across the Sector

The rebound in prices has been accompanied by a dramatic increase in transaction volume. Daily memecoin trading volume jumped from around $2.17 billion on December 29 to $8.7 billion within days. This nearly 300% rise highlights not only speculative interest but also a return of active participation across the market.

Large-cap memecoins have been leading the move. Dogecoin recorded gains of over 20% in the past week, while Shiba Inu climbed close to 19.9%. Pepe stood out with a surge exceeding 65%, making it one of the strongest performers during the rebound.

A Reaction After a Difficult 2025

Throughout 2025, memecoins experienced a deep and prolonged correction. The sector lost more than 65% of its value over the year, eventually bottoming out at a market capitalization of roughly $35 billion on December 19 — its lowest point of the year. This decline largely reflected reduced risk-taking across the broader crypto market.

Against this backdrop, the recent rally is widely interpreted as a sign that investors may once again be willing to allocate capital to higher-risk assets.

Could Memecoin Strength Spill Into Altcoins?

Market observers note that the memecoin recovery began shortly after pessimism among retail traders reached extreme levels. Historically, such conditions have often preceded sharp reversals, as markets tend to move against dominant expectations.

Some traders believe this renewed strength could extend beyond memecoins. In previous cycles, periods of strong memecoin performance were often followed by broader altcoin rallies. Solana, in particular, is frequently cited as one of the ecosystems that has historically benefited most from meme-driven momentum.

Broader Crypto Market Remains More Cautious

Despite the explosive move in memecoins, the wider crypto market has advanced at a more measured pace. Total cryptocurrency market capitalization increased by just over 5%, rising from $2.97 trillion to $3.13 trillion.

Bitcoin gained roughly 5% over the same period, trading near $92,335, while Ether rose about 7.3% to around $3,168. Investor sentiment is also improving, with market indicators shifting back into neutral territory for the first time in months — a potential sign that confidence is gradually stabilizing.

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What is Gigachad (GIGA)?

Gigachad is a memecoin inspired by a viral internet meme. Introduced in 2024, this meme is based on a fictional Russian bodybuilder and represents modern perceptions of masculinity. The meme creator enhanced the original image to make the physique more muscular, gaining significant popularity on social media. The term “Gigachad” signifies peak masculine perfection in internet culture.

The $GIGA token emerged from the meme’s popularity. Operating on the Solana blockchain, the project stands out with its community-driven governance approach. The memecoin embraces the “Gigachad” spirit, promoting masculinity and self-improvement while setting standards for physical and mental excellence. The token is for entertainment purposes and honors Ernest Khalimov with meme power and “Chad” energy, without expectations of profit.

In the memecoin market, successes like $DOGE and $PEPE were driven by viral effects. A memecoin’s success hinges on being a meme that exists independently, recognizable even to an Uber driver. While people on Crypto Twitter chase the next shiny object, $GIGA focuses on onboarding normies (regular users) from the start, emphasizing long-term holding. Normies don’t trade; they hold, and $GIGA continuously brings this audience on board.

Memes emerged in the early 2000s with the explosion of internet usage. Social media sparked network effects, and shares became viral. A viral meme like Gigachad creates a similar network effect by onboarding normies early: one person attracts two new normies, who attract four more, and so on. As one of the most viral memes in history, combined with the rise of the masculinity movement and growing crypto popularity, Gigachad is perfectly positioned to take the world by storm.

Purpose of Gigachad (GIGA)

The creators of the Gigachad project recognized the meme’s potential to attract a dedicated community. The core mission is to inspire the pursuit of peak physical and mental health excellence. The project combines blockchain technology with a popular internet meme to create a community. This community serves as a platform where members share their self-improvement journeys.

The creators aim for more than just financial gains or promises of technological excellence. Instead, they promote values like self-discipline, continuous improvement, and perseverance to transform the lives of community members. $GIGA stands out in the crypto space with its emphasis on masculinity and self-improvement.

It attracts real, real-life, high-testosterone “chad” holders; there’s no room for soy jacks or pretenders. Low testosterone leads to fear, while high testosterone fosters confidence and conviction. $GIGA is a relevant IRL meme that normies recognize. Its holders are chads, and the Gigachad meme on Solana is irreplaceable due to the community ownership of the @gigachad Twitter handle and partnerships with the original meme creator Ernest Khalimov and photographer Krista Sudmalis.

How Gigachad (GIGA) Works

The memecoin space is constantly evolving, hosting numerous vibrant projects since Dogecoin’s success. Gigachad (GIGA) has gained popularity with its unique approach, blending community spirit and meme culture. The Gigachad meme, a prominent symbol of masculinity in popular culture, transitioning into a memecoin is unsurprising.

The project uses the Solana blockchain and is community-owned. $GIGA is powered by meme energy; holders motivate each other physically, mentally, financially, and spiritually. New members are added daily to grow the community. $GIGA aims to motivate each member to be their best self by recognizing the value of time and discipline.

Use Cases

Gigachad (GIGA), as a community-driven memecoin, is used for entertainment and engagement. Holders participate in online tipping, peer-to-peer transactions, and meme-related events. Social media trends, viral content, and community activities influence its value. The project attracts crypto enthusiasts and internet culture fans, offering a platform for digital interaction. It can be traded on decentralized exchanges and integrates with the broader crypto ecosystem. $GIGA supports the masculinity movement, involving holders in a broader movement.

Gigachad (GIGA) Tokenomics

The tokenomics structure, dubbed GIGANOMICS, forms the project’s foundation:

• Supply: 9.6B
• Contract: Immutable
• Liquidity Pool: Burnt

This structure ensures a community-driven and transparent economy.

Gigachad (GIGA) Team

The Gigachad project is managed by the community, prioritizing member ownership over a centralized team. Partnerships with the original meme creator Ernest Khalimov and photographer Krista Sudmalis enhance the project’s authenticity. The community is governed through the @gigachad Twitter handle, with members participating in decision-making processes.

Official Links

• Website
• X (Twitter)

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A Jump Triggered by Whale Activity

A high-volume purchase on August 9 had an immediate impact on price. A single whale wallet bought approximately 5 million dollars’ worth of PEPE, pushing the price up by 9.5 percent in one day to 0,0000123 dollars.

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Ethereum’s Strength Flows Into PEPE

Another factor behind the rise was the strong performance on the Ethereum front. Thanks to institutional interest and growing demand, ETH climbed back above the 4,000-dollar level after eight months. This activity in Ethereum positively reflected on memecoins in its ecosystem, supporting PEPE’s momentum.

The picture is also striking in the derivatives market. Futures data shows open interest reached 720 million dollars, hitting the highest level of August. The continuation of positive funding rates indicates that investors believe prices could move higher in the near term.

The technical outlook supports this advance. The rising trendline maintained since March remains intact. Price continues to hold above the 23.6 Fibonacci retracement level and the 50-day moving average. Among analysts’ short-term targets is the 0,000014-dollar level, and if this threshold is surpassed, the year-to-date high of 0,00001625 dollars is likely to be retested.

Given the inherently high volatility of memecoins, investors should act with caution. Even so, the current data set points to a landscape where whale interest persists, the technical trend remains unbroken, and the market tailwind generated by Ethereum creates a positive near-term backdrop for PEPE.

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An Interesting Turn from Selling to Buying

Onchain data shows Hayes sold 2,373 Ether, worth about $8.32 million, when the token was trading near $3,507. This sale locked in profits before Ethereum’s recent rally.

However, last Saturday, Hayes moved out $10.5 million in USDC across multiple transactions to buy back ETH at prices above $4,150 — significantly higher than his previous exit point.

He tweeted, “Had to buy it all back, do you forgive me @fundstrat?” tagging Tom Lee, co-founder and head of research at Fundstrat. Hayes added, “I pinky swear, I’ll never take profit again.”

Had to buy it all back, do you forgive me @fundstrat ?

I pinky swear, I'll never take profit again.

pic.twitter.com/jRWfaCEPE6

— Arthur Hayes (@CryptoHayes) August 9, 2025

Hayes Issues Crypto Market Warning

As CIO of Maelstrom Fund, Hayes warned last week that mounting macroeconomic pressures could pull Bitcoin back toward $100,000.

Citing renewed tariff fears following weak July Non-Farm Payrolls showing only 73,000 new US jobs, Hayes noted that sluggish credit growth in major economies could weigh on nominal GDP and push Bitcoin and Ethereum lower toward $100,000 and $3,000, respectively.

In anticipation, Hayes sold over $13 million worth of crypto, including $8.32 million in ETH, $4.62 million in Ethena, and $414,700 in Pepe tokens.

Institutions Accumulate $4.17 Billion in ETH

Since July 10, unknown whales and institutions have accumulated approximately 1.035 million ETH — valued around $4.17 billion — through exchanges and institutional trading platforms, according to data gathered by EmberCN.

This buying surge coincided with Ethereum’s strong price rally, climbing from $2,600 to $4,000 within the month — a 45% increase.

EmberCN noted that most of the ETH held by these addresses likely belongs to institutions or US public companies building ETH reserves. This excludes publicly known entities like SBET. The average acquisition price for these holdings is estimated at roughly $3,546.

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25x Long Position on Ethereum Worth Over $12 Million!

On-chain data indicates that Wynn opened a 25x leveraged position on 3,269 Ethereum, valued at approximately $12.12 million. His entry price is $3,726.28, and the liquidation point is set at $3,492.8. The trade currently reflects an unrealized loss of around $62,700.

812 Million PEPE Tokens Included in His Second Trade

Wynn’s second move involved a 10x leveraged position on PEPE. The position comprises 812.16 million tokens at an average entry price of $0.01358, totaling $11.28 million in value. This position currently shows an unrealized profit of $251,617.

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Before initiating these trades, Wynn deposited 536,573 USDC into Hyperliquid, a decentralized perpetuals exchange, indicating a calculated return to high-risk strategies.

A Return After Heavy Losses Earlier This Year

Wynn became known for previous high-profile losses, including a $100 million Bitcoin leveraged position that was liquidated on May 30, followed by a $25 million loss on June 5. After these incidents, he deactivated his social media accounts and updated his profile with the word “broke.”

In July, Ethereum gained over 20%, leading to one of the largest short squeezes in recent history. Market analysts suggest that if ETH surpasses $4,000, more leveraged short positions could be liquidated.

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Memecoin Trading Volume Breaks Records

According to data from CoinMarketCap, trading activity in the memecoin space soared in July compared to the previous month. On Thursday, July 11, daily trading volume topped $18 billion — the highest in the past 30 days. The second-highest daily volume came just days earlier, with $17.09 billion recorded on Saturday.

Top memecoins such as Dogecoin, Shiba Inu, and Pepe saw notable gains over the past week. However, the biggest weekly winners were Floki (up 45%), Pudgy Penguins (PENGU) with a 58% increase, and most impressively, Bonk (BONK), which surged by a staggering 72%.

Bonk’s Rally Fueled by LetsBonk Launchpad

A key catalyst behind Bonk’s explosive performance is the emergence of LetsBonk, a new Solana-based launchpad tailored for memecoins. On July 7, LetsBonk overtook Pump.fun — previously the dominant launchpad on Solana — in daily volume, disrupting the memecoin launch ecosystem.

In the past seven days alone, data from DefiLlama shows LetsBonk generated $8.25 million in protocol revenue, far surpassing Pump.fun’s $4.91 million. This sharp contrast signals a potential shift in dominance within the memecoin infrastructure space.

LetsBonk Takes the Lead in Volume and Market Share

Analytics from Jupiter, a leading decentralized exchange (DEX) aggregator, reveal that LetsBonk captured 51.9% of the launchpad market share in the past 24 hours, compared to Pump.fun’s 39.5%. In terms of volume, LetsBonk processed $838 million — beating Pump.fun’s $638 million.

However, Pump.fun still maintains an edge in several core metrics. With $29 million in 30-day protocol revenue, it remains the top-earning launchpad. Additionally, Pump.fun leads in daily active users with 413,000 traders, while LetsBonk trails with 275,000. In terms of liquidity, Pump.fun is still dominant, holding $510 million compared to LetsBonk’s $53 million.

Ethereum Rally Boosts Broader Memecoin Market

While Solana-based developments are driving much of the current memecoin boom, the recent surge in Ethereum (ETH) is also believed to be contributing to the broader altcoin rally.

At the time of writing, ETH was trading above $3,476 — marking a weekly gain of over 24%. This bullish momentum is likely lifting sentiment across the crypto market, including the high-risk, high-reward memecoin sector.

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According to Bloomberg ETF analyst Eric Balchunas, the answer is likely yes. On June 7, he stated that there’s a “really good chance” we’ll see active memecoin-focused ETFs soon, possibly by 2026.

Memecoins Enter the ETF Arena

Memecoins have exploded this year, particularly among retail traders. As interest grows, ETF providers are exploring ways to tap into this speculative but lucrative market. Balchunas expects that before we see a pure memecoin ETF, several active crypto ETFs will roll out first, setting the stage for more niche products.

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His remarks came in response to a post by the team behind “Vladcoin,” suggesting that ETFs should actively trade memecoins—buying the strong, selling the weak.

Spotlight on Dogecoin ETF Filings

Interest in a potential Dogecoin ETF is already high. Major players like Grayscale, Bitwise, 21Shares, Osprey Funds, and Rex Shares have filed with the SEC to launch ETFs based on Dogecoin, Bonk, and Official Trump (TRUMP).

However, the SEC has yet to approve any memecoin ETFs—or even altcoin-based ones like Solana, XRP, and Litecoin—despite dozens of applications filed this year.

Memecoin Market: Boom to Bust?

While early 2024 saw memecoins skyrocket, recent months have brought steep corrections. TRUMP is down 86%, Dogecoin by 75%, Shiba Inu (SHIB) by 85%, and Pepe (PEPE) has lost nearly 60%. Despite the downturn, the push for ETFs suggests long-term faith in the sector.

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Brian Quinlivan, Marketing Director at Santiment, remarked in a May 1 analysis that the market mood is shifting toward a “gamble-first mentality”, as traders increasingly focus on risky assets instead of fundamentals. Dogecoin, in particular, has made headlines thanks to renewed buzz around ETF filings in the U.S.

Dogecoin Rides the ETF Wave

Following a significant dip in crowd interest throughout April, Dogecoin has staged a strong comeback fueled by speculation surrounding several DOGE-related ETF applications. Although the U.S. Securities and Exchange Commission has postponed decisions on these proposals until mid-June, sentiment is heating up.

Quinlivan noted that DOGE’s social visibility has climbed to its highest level in nearly three months, suggesting growing anticipation across investor communities.

Memecoin Volumes Explode: Pump.Fun and PumpSwap Take the Spotlight

The memecoin revival can be traced back to January, when former U.S. President Donald Trump launched his own token, sparking a wave of activity. This momentum pushed Pump.Fun’s weekly volume to $3.3 billion shortly after launch.

In April, Pump.Fun’s decentralized exchange, PumpSwap, recorded a dramatic rise in monthly trading volume — soaring to $11 billion, up from just $1.7 billion in March. This growth highlights an aggressive return of capital into high-risk, community-driven assets.

Bitcoin Stalls While Altcoin Risk Appetite Grows

Over the past eight days, the overall crypto market has risen by 10%, while Bitcoin has gained just 7%. According to Santiment, this signals that investors are rotating into more volatile altcoins, hoping for outsized returns.

“When Bitcoin leads a rally but then enters a sideways phase, traders tend to pivot into more speculative plays,” Quinlivan explained, capturing the sentiment of many retail investors in the current cycle.

Interest Returns, but Stability Remains Uncertain

While interest in memecoins is clearly rising, the market’s erratic nature leaves questions about how long this trend will last. Earlier in March, enthusiasm waned following a string of disappointing token launches. One of the most notable flops was the LIBRA token, which dented investor confidence significantly.

In summary, the memecoin space is seeing renewed traction, but the path forward remains uncertain. Traders would be wise to stay cautious as speculation heats up — because in a market driven by hype, the line between opportunity and risk is razor thin.

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Key Support at $0.0000058

The $0.0000058 level has emerged as a critical support zone. This region represents the second low of the double bottom and has historically acted as a demand area. If PEPE loses this level, a deeper pullback could unfold, potentially toward $0.0000042.

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If PEPE holds the support and successfully breaks out of the neckline with volume, the technical target of the double bottom pattern sits around $0.0000317. This area also aligns with a previously tested resistance, making it a logical upside target.

Market Momentum Will Be Key

While the pattern itself is promising, broader market sentiment will heavily influence its outcome. A bullish move in Bitcoin and large-cap altcoins could help PEPE rally faster. As always, volume confirmation will be essential for the breakout to be sustainable.

The developing double bottom pattern presents a potential opportunity for PEPE bulls. However, holding above $0.0000058 is critical. If this level is lost, downside pressure may accelerate. On the flip side, a confirmed breakout could open doors toward $0.0000317.

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