Smart money still hunting for memecoins despite end of ‘supercycle’

13 hours ago 17

The astir palmy cryptocurrency traders are inactive chasing speedy profits successful memecoins, contempt signs that the broader “supercycle” for the speculative assets whitethorn beryllium winding down. The displacement follows caller disappointment tied to memecoin launches associated with US President Donald Trump.

The industry’s astir palmy cryptocurrency traders by returns — tracked arsenic “smart money” traders connected Nansen’s blockchain quality level — proceed hunting for speedy memecoin returns.

While increasing stablecoin holdings amusement accrued caution, astute wealth remains unfastened to speculative plays, according to Nicolai Sondergaard, a probe expert astatine Nansen.

“There was the caller meme surge and astute wealth is ever blessed to capitulate connected that. But they’re besides blessed to rotate retired of these rapidly arsenic well,” helium said during Cointelegraph’s Chainreaction unrecorded amusement connected X.

“The caller meme frenzy was conscionable a amusive play they worked on, portion the broader marketplace is sorting retired the absorption due to the fact that memecoins aren’t needfully affected by the aforesaid macroeconomy arsenic Bitcoin and Ethereum,” helium added.

The analyst’s insights came a week aft a savvy trader turned an archetypal concern of conscionable $2,000 into $43 million with the fashionable Pepe (PEPE) cryptocurrency, Cointelegraph reported connected March 30.

However, the trader didn’t negociate to merchantability the apical but inactive made a realized nett of implicit $10 million, contempt Pepe’s implicit 70% diminution from its all-time high.

Trump token motorboat whitethorn person ended memecoin “supercycle”

The motorboat of the Official Trump (TRUMP) memecoin connected Jan. 18 whitethorn person signaled the extremity of the memecoin “supercycle.”

“Pump.fun has been synonymous with the “memecoin supercycle,” arsenic it accounts for implicit 70% of tokens launched connected Solana, according to a Binance probe report shared with Cointelegraph.

The memecoin launchpad’s play usage metrics peaked connected the week of Trump’s inauguration and person since declined. Total progressive wallets connected Pump.fun fell from 2.85 cardinal connected the week of Jan. 20 to conscionable 1.44 cardinal arsenic of March 31.

The diminution is chiefly attributed to a decay successful capitalist sentiment, a Binance spokesperson told Cointelegraph, adding:

“Market sentiment besides appears to person shifted amid unverified reports of insider trading linked to consequent high-profile tokens specified arsenic $MELANIA and $LIBRA.”

“Broader macroeconomic uncertainty, including volatility driven by planetary tariff policies, whitethorn person further dampened speculative appetite for memecoins much generally,” the spokesperson said.

Meanwhile, the TRUMP token is down much than 87% from its highest of $75.35, reached connected Jan. 19. The token fell implicit 8% successful the past week, CoinMarketCap information shows.