Original | Odaily
Author | Nanzi
Last Saturday morning at 10 o'clock, Trump issued his official Meme token TRUMP, and within two days, its FDV once exceeded 800 billion US dollars, surpassing DOGE and ranking sixth in the cryptocurrency market cap.
During the TRUMP bulldozer-like surge, it first sucked the blood of tokens on the Solana chain, especially the previously popular AI tokens, which all plummeted. Subsequently, as more users withdrew SOL to the chain, other secondary market tokens were also drained, and SOL once approached 300 USDT, while ETH fell to around 3150 USDT.
However, the plot soon reversed again, with WLFI repeatedly buying ETH, and "First Lady" Melania releasing her Meme token MELANIA tonight, causing the ETH/SOL exchange rate to rebound sharply again.
This article aims to summarize the rise and fall of various tokens in the two days after the TRUMP token was issued, and to study which tokens are the most resilient and which have been abandoned by the market under the blood-sucking situation.
Basic Situation
In the secondary market analysis, this article has counted the following time points:
Before and after the token issuance: 10:00 am on January 18;
The first peak: 2:00 pm on January 18, when the price was about 13 USDT;
The second peak: 0:00 am on January 19, when the price was about 34 USDT;
The third peak: 5:15 pm on January 19, when the highest price on Binance was 79.7 USDT;
Current price: around 1:00 pm on January 20.
In the primary market analysis, the pre-issuance and current prices were used for comparison.
Who performed the best in the secondary market? What tokens have been abandoned?
In the secondary market, we have counted all the tokens listed on Binance spot, and the data is shown in the figure.
The tokens that appeared in the top gainers list for three consecutive times include RAY, SOL, BTC, JTO, DEXE and several other tokens. It can be clearly seen that three of them are Solana concepts, and among the three, SOL has the best overall performance (it's better to buy SOL directly than the others), and the main line of this bull market is still BTC and Solana.
There are a total of four tokens that have appeared in the top losers list for three consecutive times, including PNUT, ACT, PHA, NEIRO, all of which are Meme or AI concepts, and were once the hottest tokens in the previous period. For example, PNUT (squirrel) is a Meme concept related to the election, but its narrative is no longer important after the emergence of TRUMP; the TEE technology of PHA was previously discovered in the aiPool of ai16z-related tokens, but the narrative has not been continued, so it has fallen sharply. Tokens without strong market makers or continuous narrative support will be the first to be eliminated in the current market.
The on-chain AI tokens have also been greatly drained, so which tokens have performed well?
AI Token Recap
We have counted the top 20 AI concept tokens on the Solana chain by market cap (limited to pump.fun), and their rise and fall are shown in the figure below. Most tokens have fallen by 30% - 40%, and the ones that have not fallen significantly or even risen include Fartcoin, GRIFFAIN, arc, GRIFT, BUZZ, AIOS, which should be the focus of attention for the future market.
