Ethereum meme coins warm up as the Solana ecosystem faces new challenges.

Recently, the crypto market has warmed up, and Ethereum has performed particularly well. Thanks to the Pectra upgrade, continuous ETF buying, and the success of the Virtual IPO model, the price of Ethereum has continued to rise, which has also driven the revival of on-chain Meme coins.

In contrast to Solana, although the long-established secondary Meme coins and AI sector are generally rising, the pace of the primary market is accelerating, lacking new narrative support. At the same time, the upper market faces continuous selling pressure, while the lower market is being drained by platforms like PumpFun. Besides the Bonk ecosystem continuously launching new projects, ordinary users have fewer and fewer opportunities to profit within the ecosystem.

The recovery of Ethereum Meme coins is mainly reflected in the return of the Matt Furie concept. As one of the most well-known Memes, Pepe has cultivated a strong community base during the last craze. Unlike the Shiba Inu concept of other chains, frog-themed Memes seem to be more favored by EVM chains, especially Ethereum. Recently, a batch of new projects related to Matt Furie has emerged, such as RATO, BERRY, and FROGGER, attracting market attention.

In terms of Solana, although the primary market faces challenges, the well-established Meme coins in the secondary market have welcomed a large influx of funds. The counterattack of the BONK system is particularly noteworthy, with its BONKFUN platform becoming one of the most successful products in the fight against PumpFun. The recently launched incentive program has attracted a large number of participants, creating nearly 7,000 tokens within 24 hours and generating substantial fee income.

It is worth noting that some established Meme coins such as MoonDeng, PNUT, and TITCOIN have also performed well in this round of market. At the same time, AI concept coins have also occupied some liquidity, possibly due to previous over-selling and a lack of new AI concepts.

However, there are also views that this round of on-chain prosperity is not brought about by incremental funds, but rather the result of the market makers pulling up prices for self-rescue. With the standardization of Meme coins, the possibility of super Memes seems to be decreasing. In this market environment, the number of players who can continuously profit is getting smaller, while those with good short-term trading skills, the "paper hands," may instead achieve decent returns.

The future market is still full of uncertainty, especially with news that Trump-related social platforms may launch Meme coins. In an era where the bull-bear transition cycles are getting shorter, investors need to carefully weigh risks against opportunities.