Smart Money is Still Buying Memecoins: Here is What They are Buying

• Smart money traders are still dipping into memecoins, even as signs point to the end of the hype-driven “supercycle.”
• The Trump token launch may have marked the peak, with platforms like Pump.fun seeing sharp declines in activity and wallet numbers.
• Despite major price drops, traders are staying alert for the next big meme-fueled breakout—because the right play can still deliver massive returns.

Just when it seemed like the memecoin mania was cooling off… well, here comes the twist. The sharpest traders in crypto—aka the “smart money”—aren’t walking away just yet. Even with whispers (and more than a few tweets) about the memecoin supercycle coming to an end, those in-the-know are still poking around, looking for the next speculative play that might blow up overnight.

Memes Might Be Fading, But Not Forgotten

Even after the buzz around Trump-themed coins started to die off, top traders—those with the best return histories tracked by Nansen—are still in the hunt. They’ve been quietly shifting into more stable assets, sure. But that doesn’t mean the fun’s over

Basically: they rode the wave, cashed out where it made sense, and are now back on the lookout for the next opportunity. Even in a choppy market, memecoins kind of live in their own weird universe—not always tied to the same macroeconomic forces that drag Bitcoin or Ethereum around.

And let’s not forget that Pepe story. One trader turned a $2,000 bet into $43 million (yes, seriously). He didn’t hit the absolute top—but still walked away with over $10M in realized gains. Not bad for what most people still call a joke coin.

Trump Tokens and the Fall of the Supercycle

Now here’s where things started turning. When the official Trump memecoin launched back on January 18, it kind of felt like the top. You know that moment in every trend where it’s so mainstream, it’s already over? That.

A report from Binance pointed to pump.fun, the launchpad for tons of Solana-based memecoins, saying it accounted for over 70% of all token launches during the boom. Activity on that platform? Peaked right around Trump’s inauguration. Since then—yeah, the numbers don’t lie.

• Active wallets fell from 2.85M (Jan. 20)
• To just 1.44M (by March 31)

That’s a huge drop. Binance noted it was mostly because investor sentiment had, well, soured. Partly from insider trading rumors tied to other high-profile tokens like $MELANIA and $LIBRA, and partly just general burnout from the chaos.

Add in some global tariff uncertainty and macro jitters? Yeah, people aren’t exactly in the mood to throw money at frogs with hats anymore.

TRUMP Token Tumbles—and Sentiment with It

The Trump token itself has seen… better days. It hit a high of $75.35 the day after launch. Since then? It’s down a brutal 87%, with more than 8% lost just in the last week. That kind of nosedive doesn’t exactly inspire confidence.

So sure, maybe the memecoin supercycle has wrapped up. The wild, no-rules, every-coin-goes-parabolic party? Probably over. But that doesn’t mean the scene is dead.

Smart money’s still watching. Still playing, here and there. They know there’s always another cycle. Another moment. Another meme.