Meme is becoming a substitute for "VC, CEX, and high FDV" in this encryption cycle. Community-driven + fair release has captured the hearts of retail investors and is beginning to exert influence in the actual bidding stage.
This year, the performance of large-cap Meme has been among the top, maintaining strong returns even during market adjustments. Now, Meme has become a mainstream asset class.
First, Keith Gill returns, MEME soars
On May 13th, Roaring Kitty (Roaring Kitty) reappeared in the public eye. When he returned to Twitter (X platform), he did not even directly mention GameStop (GME). The roller coaster ride of this stock once attracted global attention and was filmed as a documentary. However, his return still caused GME's stock price to double in the short term and caused the price of the eponymous Meme token GME on Solana to soar by 1900%.
Roaring Kitty, whose real name is Keith Gill, is the central figure in the GameStop legend and is widely known for his role in the GameStop stock crash that occurred on January 27, 2021. This ultimately led to GME's price soaring by more than 1000% in less than a month.
Three years later, Gill returned on May 13th and posted a typical mysterious emoji on X, featuring a gamer sitting in a chair announcing his return. The news of Gill's return caused a storm on social media.
For example, Meme stock pioneer and social media influencer Andrew Tate will sell $500,000 worth of Bitcoin to join the latest GameStop squeeze.
Top encryption giant VAnsem responds to Roaring Kitty's tweet: 'Hey bro, what are we buying?'
Even David Portnoy, the founder of Barstool Sports, is preparing to join in. He quoted a line from The Godfather 3: "Do you want to go crazy? Then go crazy! Every time I think I quit, they pull me back."
It is currently unclear why Gill chose to return to the X platform, or whether he has really returned. Currently, his Reddit and YouTube accounts are still idle. Since the first return tweet, he has only posted a dozen video clips and has not yet responded to Decrypt's request for comment.
But his apparent reappearance clearly aroused the enthusiasm of the GameStop group. In the following 24 hours, GameStop's US stock price rose by 111%, triggering multiple circuit breakers and causing the price of the eponymous Meme token GME on Solana in the crypto field to soar by 1900%. This greatly sparked the Meme flood on Solana and stirred up the wider Meme market, including DOGE, SHIB, and PEPE, which rose by 5.7%, 5.0%, and 15.4%, respectively.
Solana becomes the MEME engine
Today, Solana has become the main gathering place for retail investors and Memecoin traders.
In this Meme frenzy, MEME coins in the Solana ecosystem have shown great potential. We have witnessed many amazing stories, such as raising tens of thousands of SOL with just one contract address, and the BOME market value skyrocketing from 0 to $1 billion in three days, breaking the historical record for the fastest listing on Binance. The earliest participants even received returns exceeding 100 times.
However, the vast majority of market participants did not profit from this wave of Meme, and even suffered losses. This is because ordinary users have a long path of exposure to Meme coins and cannot get on board at the first time, thus missing out on wealth opportunities. The development path of Meme coins usually includes project parties establishing liquidity on the DEX and publishing smart contract addresses. A few users go to the DEX to purchase and push up the price, the market heat continues to rise, the price continues to rise, and finally it is launched on centralized platforms, and a large number of users begin to trade. As the last link in the dissemination chain, ordinary users often become "suckers".
To truly profit from Meme coins, there are only two ways for users: one is to use various BOT tools to rush into the pool at the first time of the opening, but this requires high technical requirements and is not universal; the other is to shorten the path for ordinary users to access Meme coins, making the "last link" become the "first link", that is, centralized exchanges (CEX) launch Meme coins at the first time. Based on meeting the market users' demand for MeMe tokens and ecological construction needs, The First will provide Solana mainnet token business in the near future.
Solana blockchain is known for its high throughput and low transaction costs, which is particularly important for high-frequency trading of MEME coins. High efficiency can support more transaction volume, while low cost can reduce transaction costs and increase user revenue.
Solana itself has a constantly expanding and thriving ecosystem, including DEX, lending platforms, and NFT markets, which has attracted a large number of developers and projects to join, forming a healthy and prosperous blockchain ecosystem.
A strong ecosystem can provide a wider range of application scenarios and more liquidity for Meme coins, thereby enhancing their value and attractiveness. Based on Solana, Meme coins have gained widespread market acceptance and user base worldwide. Supporting Meme coins on the Solana chain can more easily attract a large number of users, especially those who are already familiar with and trust the Solana ecosystem.
The First Significance of Solana
After being integrated into the Solana chain, it will help The First better participate in and benefit from this ecosystem. Nowadays, MEME coin projects in the Solana ecosystem are emerging like mushrooms after rain, and many projects have achieved significant gains after going online.
The reason why The First supports Solana Chain is mainly due to its efficiency and effectiveness, strong ecosystem, user requests, and market trends. With its high throughput and low latency, Solana Chain provides an ideal platform for MEME projects, ensuring that MEME coins can quickly spread and gain market attention when launched, thus achieving efficient transactions and quick profits.
With the continuous expansion of the Solana ecosystem, it has attracted a large number of developers and project parties to join. Supporting the Solana chain allows The First to leverage its rich ecological resources and user base to bring more high-quality MEME projects to the platform and enhance overall competitiveness. As more and more users and investors pay attention to MEME projects in the Solana ecosystem, The First supports the Solana chain to follow market trends, meet user requests, and attract more users and funds to enter the platform, further enhancing its market position.
Supporting Solana Chain can not only enhance the potential and revenue of MEME coin projects, but also enhance the competitiveness and Customer Satisfaction Score of the platform. It can also enhance the trading liquidity of MEME projects on the platform, making it easier for users to buy and sell assets and increase market activity level.
The decentralized feature of Solana Chain can enhance the transparency and authenticity of transactions, avoid the problem of price control due to exchange data disks, enhance user trust in the platform, lower the threshold for entering the MEME market, seize market opportunities, achieve excess returns (α coefficient returns), and thus improve user satisfaction and loyalty. Therefore, supporting Solana Chain is of great significance to The First's development.
In addition, trading on the Solana chain can ensure the transparency and authenticity of data, avoid the risk of the exchange controlling the data disk, and allow users to trade with confidence. Supporting the Solana chain not only reflects The First's emphasis on user interests, but also an important step in its strategic layout, bringing users more investment opportunities and potential returns.