Meme Tokens See Influx of New Buyers, Solidify Their Positions as Cults

Meme tokens are gaining traction with new cohorts of buyers, even older cults are attracting new top holders, solidifying their position as top memes.

Meme tokens are solidifying their positions as cults by attracting new buyers and emphasizing long-term holdings. A new metric counts the recent wallets that have accumulated enough tokens to join the top 1,000 ranks. The inflow of new wallets and the ability to enter the ranking also indicate that the supply is not yet sniped by whales or held by a cabal.

Cryptorank's selection of tokens includes a mix of established, widely listed tokens, as well as those still relying heavily on DEX, such as Bongo Cat (BONGO).

For smaller, less centralized tokens, a much smaller purchase is needed to join the 1,000 leaderboard.

Most of the tokens, however, have a similar characteristic in being long-term cults with an ethos of hodling. The assets also show a history of fewer than 70% drawdowns, though they have seen some turnover from traders.

Meme cults are one of the last choices for those who prefer lower trading activity. For altcoins, without active, short-term trading, it would be almost impossible to achieve returns. Memes, however, offer a culture of ‘hodling’, which is more similar to owning Bitcoin (BTC).

Top Solana memes compete with newly created tokens

Meme cults also depend on making a significant purchase, with a long-term outlook. The recent lineup shows Gigachad (GIGA) saw the biggest accumulation into newly made wallets for a 15-day period.

Based on Cryptorank data, new wallets bought $26.4M worth of GIGA, all of them entering the top 1,000 in the token’s rich list. GIGA is also widely held by wallets investing at least $1,000 and becoming a part of the community. The asset is near the top in terms of skin in the game, with 11,987 holders investing at least $1,000.

GIGA is still at $787M market capitalization, awaiting a breakout to become another $1B token. The asset has all the signs of a cult community, which explains the inflows into DogWifHat (WIF).

WIF also has a culture of long-term holding, while competing with BONK for the most loyal and widely known community. WIF attracted $13.6M in new wallet purchases. POPCAT had a similar performance, becoming the third-largest meme to spark new wallet creation.

The recently trending assets follow the overall popularity selections and seem to be mostly driven by the list of Murad Mahmudov. New buyers are flowing into some of the safest, most widely distributed tokens on that list, including the recently hot FWOG, RETARDIO, and MICHI.

BULLY and MEMES AI are two of the most successful crossovers of meme communities and AI agents. Together, they attracted $6.63M from new buyers. The metric also suggests better conviction that the meme can survive its short-term hype and continue for multiple market cycles.

Solana ecosystem takes over memes

With the exception of DOGE, SHIB, and PEPE, Solana memes have taken up most of the spots in the top 20 of meme tokens, with few exceptions. The established memes also compete with newly launched assets on Pump.fun.

Raydium’s weekly fees once again surpassed those of Ethereum, reaching $41.97M. The peak meme token activity on Solana also boosted Raydium and Jito as some of the biggest fee producers. More tokens are also managing to graduate to Raydium, as meme creators are becoming better at tapping new trends. Despite this, the most established cults are still considered a key part of long-term portfolios, while new memes require active trading strategies.

Pump.fun also continues to produce over 50K tokens daily as its new baseline, often going above 60K new tokens. The relatively lower fees on Solana boosted DEX activity above Ethereum, in addition to becoming the go-to chain for AI agents. The recent addition of Pudgy Penguins (PENGU) also solidified Solana as the more suitable choice for active trading, as its ecosystem now contains a larger number of prominent memes.