In the recent volatility of the cryptocurrency market, a Solana-based meme coin called TROLL is sparking a new wave of wealth creation.
Over the past ten days, its price surged from $0.015 to a high of $0.209, an astonishing increase of 1050%, with its market cap breaking through $190 million and ranking 32nd in the global meme coin market cap. In just the past week, it rose by 310%, sending many early investors into the realm of ten-fold and hundred-fold returns—with some traders turning $22,800 into $2.48 million, achieving a return of 109 times.
Recommended Reading: Troll Token Surges Hundredfold in a Week, Will This Be the Next Pepe?
I. The Crazy Surge Behind the Data: From Marginal On-chain Meme to Market Focus
TROLL, a meme coin based on the Solana blockchain, draws inspiration from internet "troll culture" with a circulating supply of approximately 998.98 million tokens. Since its debut in April 2025, its price remained flat for the first three months, but experienced a dramatic turn in late July:
- Price curve vertically lifted: Between July 25 and August 7, TROLL achieved a 12-fold increase, with market cap skyrocketing from $16.12 million to $184 million, breaking through a key psychological threshold
- On-chain data confirms the frenzy: Solscan monitoring shows DEX trading volume and token transfer volume both reached historical peaks, with holder numbers surging to 28,836, significantly improving market participation. The top 10 holders control only 16.1% of circulation, with a relatively dispersed holding structure boosting market liquidity
- Ecological advancement: As of August 7, TROLL's $180 million market cap surpassed veteran meme coins like Moo Deng and Aura, even exceeding the official token of former First Lady Melania Trump, becoming the new leading token in the Solana ecosystem after Bonk
II. Three-Pronged Engine: Cultural Resonance, Capital Speculation, and Ecological Dividends
(1) On-chain Mapping of Generation Z Emotional Economy
TROLL's rise is essentially a subculture's deconstruction experiment of the financial system. Its core attraction precisely captures Generation Z's questioning of elitism, transforming online mob sentiment into collective investment action through anti-authoritarian slogans like "Do Not Follow Anyone". Its community operation strategy is highly aggressive: over 35,000 Discord members, combined with NFT airdrops and community tasks, generate viral content (memes, satirical tweets) maintaining top 3 discussion heat in crypto communities.
(2) Liquidity Game Colluding with Exchanges and Capital
- Listing strategy ignites liquidity: After joining BN Alpha ecosystem in April, TROLL gained "quasi-mainstream" endorsement, subsequently listing on second-tier exchanges like BingX and LBank, momentarily reaching 16.57% market share and forming a trading depth moat
- Market-making mechanism controls market rhythm: Implementing high-energy wash trading during BTC pullbacks, then strongly rallying when the market stabilizes, this precise operational technique transforms volatility into profit opportunities. Pump.fun platform data shows deployers have earned over $64,000 in SOL through creator revenue sharing, accelerating capital inflow through interest binding
(3) Solana Ecosystem's Meme Revival
TROLL's outbreak coincides with an overall revival of meme coins on the Solana chain:
- Macro fund rotation: Meme coin total market cap grew 3% to $72 billion in the past week, with funds shifting from Bitcoin and Layer-1 protocols to high-volatility assets
- Infrastructure iteration: Solana's low gas fees and high throughput perfectly match high-frequency trading demands, with on-chain active wallets breaking through 12,000. Platforms like LetsBonk occupy 60% market share, replacing Pump.Fun as the new token issuance battlefield
- ETF expectations boost narrative: Market bets on SOL ETF potentially replicating Ethereum ETF's post-approval surge, with TROLL viewed as "Solana ecosystem's new Beta", expectations of breaking billion-dollar market cap begin to ferment
III. Artistic and Capital Disconnection: Creators' Legal Waiver and Cultural Criticism
While TROLL goes crazy in the crypto world, its cultural symbol's origin—Trollface creator Carlos Ramirez (Whynne)—shows extreme detachment. This artist, who hasn't been interviewed in a decade, spoke out for the first time in 2025, denouncing crypto economy's erosion of art:
[The translation continues in the same manner for the rest of the text]- Legal Damocles' Sword:Camp Network co-founder Nirav Murthy warns that artists may change their waiver decision at any time, and initiating a copyright lawsuit could risk driving the token value to zero. Currently, over 30 imitation versions have been issued on platforms like Bags, with deployers profiting from transaction fee sharing, and this disorderly issuance exacerbates system vulnerability
- Technical Overbought Signal Appears: After reaching a high of $0.209, TROLL quickly fell back to $0.19, with a daily fluctuation of 8.87%, experiencing multiple deep retracements at the hourly level. Analysts warn that it needs to break free from its "pure hype" attribute by establishing fundamental support through collaboration with Solana ecosystem DeFi and NFT platforms, otherwise it may repeat the downturn after the 2023 hype fades
- Sector Fund Suction Effect: Established meme coins like #GP and #USELESS in the Pump.fun ecosystem have experienced over 30% pullback, and new projects like the "donation narrative" token $CANCER promoted by Bags failed to maintain its momentum, indicating that high fund concentration may trigger a liquidity crisis
The meteoric rise of TROLL is another successful financial co-optation of internet subculture in the crypto world. When the Z generation injects anxiety about high housing prices and anger about class solidification into meme coins like HOUSE and RFC, TROLL becomes an emotional carrier with a more radical rebellious attitude. The self-exile of creator Ramirez reveals the fundamental contradiction of this movement - when art is alienated into a capital symbol and community consensus degenerates into a market-making tool, the meme coin carnival will ultimately become a "cursed proposal" in the creator's eyes.
When analysts predict that "firm belief will ultimately be rewarded", those investors who chased at $0.2 might want to revisit Ramirez's warning: "I don't care about this meme Face at all" - this cold declaration from the cultural source may more accurately predict the fate of meme coins than any technical indicator.
