Memecoins的市场一直是投机者的一个

对于投机者来说，Memecoins的市场一直是交易者希望快速从波动性和基于Meme代币的疯狂价格波动中获利的投机者。但是有趣的转变似乎正在进行中。

The market for memecoins has always been one for speculators, with traders hoping to make a quick profit off the volatility and the mad price swings of meme-based tokens. But an interesting shift seems to be underway.

Memecoins的市场一直是投机者的市场，而交易员希望能够快速从波动性和基于Meme代币的疯狂价格波动中获利。但是有趣的转变似乎正在进行中。

On March 31, 2025, on-chain data showed that the so-called “smart money”—more experienced and presumably more knowledgeable investors—has significantly increased its participation in the memecoin market. This is particularly strange, considering the memecoin sector is still one of the most unpredictable in all of crypto.

2025年3月31日，链链数据显示，所谓的“智能货币”（更有经验和大概是知识渊博的投资者）大大提高了其在Memecoin市场的参与。考虑到Memecoin部门仍然是所有加密货币中最不可预测的部门之一，这一点尤其奇怪。

Memecoin Market: Inflows Surpass Outflows

Memecoin市场：流入超过流出

On March 31, 2025, the memecoin market had a total trade volume of 4.94 million dollars. This volume was mostly driven by net inflows, meaning that more capital is entering the memecoin market than exiting it.

2025年3月31日，Memecoin市场的总贸易量为494万美元。这一卷主要是由净流入驱动的，这意味着比退出更多的资本进入了纪念市场。

To be exact, on this day, we saw capital inflows of 2.59 million dollars and outflows of 2.35 million dollars. Altogether, this results in a positive net inflow of 239 thousand dollars, giving us a memecoin market that still net gains capital despite some recent volatility.

确切地说，在这一天，我们看到资本流入259万美元，流出为235万美元。总的来说，这导致净流入量为23.9万美元，这给了我们一个成熟的市场，尽管最近有一些波动，但仍然净获得资本。

When we examine the tokens involved more closely, we see an intriguing pattern of capital allocation by investors. Several meme-based tokens, for example, received significant inflows, quite in keeping with the tokenomics of past meme coins, signaling that investors still believe in the potential that these tokens have to make them money.

当我们更仔细地研究代币时，我们会看到投资者的重要资本分配模式。例如，几个基于模因的令牌与过去的模因硬币的令牌学相符，这表明投资者仍然相信这些令牌必须赚钱的潜力。

FARTCOIN, VINE, JUP, YOUSIM, and FAT were among the top five tokens with the highest inflows.

Fartcoin，Vine，Jup，Yousim和Fat是流入最高的前五名。

$FARTCOIN had the most notable inflow of cash, bringing in 814K, which is kind of an absurd amount for a memecoin. It’s now our most prominent memecoin in the capital inflow department, kind of a status light that makes it a beacon for retail and probably some institutional traders who are looking for speculative opportunities in this volatile memecoin market. FARTCOIN’s absurdity is only matched by the seriousness with which we all have to take the SEC now. That’s a pretty wild ride even by, you know, memecoin standards.

$ FARTCOIN具有最著名的现金流入，带来了814K，这对于Memecoin来说是荒谬的。现在，这是我们在资本流入部门中最杰出的纪念品，一种状态灯，使其成为零售业的灯塔，也可能是一些机构商人，他们正在这个波动性的纪念市场中寻找投机机会。 Fartcoin的荒谬性仅与我们现在所有人都必须接受SEC的严重性相匹配。即使您知道，这也是一个非常疯狂的旅程。

Following closely behind in terms of inflows were $VINE, with 144K, and $JUP, with 119K. These tokens have been gaining traction with the memecoin community and seem to be benefiting from the recent increase in trading activity.

在流入方面紧随其后的是$ Vine，拥有144K和$ JUP，有119K。这些令牌一直在与Memecoin社区的吸引力，并且似乎从最近的交易活动中受益。

Meanwhile, $YOUSIM and $FAT each attracted smaller, but still notable, inflows of 100K and 99K, respectively. These tokens’ movements suggest a steady level of interest in a variety of memecoin projects, with no single asset dominating the market.

同时，$ yousim和$ fat分别吸引了较小但仍然值得注意的，分别吸引了100k和99k。这些令牌的动作表明，对各种成员项目都有稳定的兴趣，没有单一资产主导着市场。

Outflows from Established Memecoins

来自已建立的模因的流出

Conversely, some of the more established memecoins, like $ARC, $FWOG, $POPCAT, $TRUMP, and $WBTC, saw significant outflow. One memecoin of concern—$ARC—had an outflow of half a million dollars! $ARC has one of the larger market caps among memecoins, so this outflow raises EVEREST-like questions: Is investor confidence collapsing? Are we witnessing the ascent of $ARC’s rivals? Is the outflow a reprisal of the one that we noted last week for the same memecoins?

相反，一些更具成熟的成员，例如$弧，$ fwog，$ popcat，$ trump和$ wbtc，都看到了大量流出。一个令人关注的模因 - $弧 - 流出了50万美元！ $ ARC在Memecoin中具有较大的市值之一，因此此流出引起了类似珠穆朗玛峰的问题：投资者的信心是否崩溃了？我们是否正在目睹$ Arc的竞争对手的上升？流出是否是我们上周对同一模因的报复？

$FWOG had an outflow of 71K, while $POPCAT saw 110K leave the market. These smaller outflows may be indicative of typical profit-taking behavior, where traders cash out after a period of growth or favorable market conditions.

$ fwog的流出量为71k，而$ popcat看到110k离开了市场。这些较小的流出可能表明了典型的利润行为，在一段时间内或有利的市场状况下，交易者会兑现。

$TRUMP, another memecoin that had garnered attention during its peak moments, also saw an outflow of 73K, which suggests that its recent price action may not be as enticing to investors looking for the next big trade.

$特朗普（Trump）是另一个在高峰时刻引起人们关注的纪念物，也看到了73K的流出，这表明其最近的价格行动可能不那么吸引寻求下一个大型贸易的投资者。

One of the most unexpected withdrawals was from $WBTC, a token closely tied to the bigger crypto world. With 372K taken out of the market, it makes you think. Not really a memecoin, WBTC has attracted all sorts of traders as they dart between various blockchain ecosystems. So, what’s behind the outflow? My guess is that it has something to do with bigger players moving into more speculative assets, like the newer and emerging memecoins that have been raking in the inflows.

最出乎意料的提款之一是来自$ WBTC，这是与更大的加密货币世界紧密相关的令牌。随着372K的流出市场，您可以思考。 WBTC并不是真正的模因，在各种区块链生态系统之间飞镖时吸引了各种交易者。那么，流出背后是什么？我的猜测是，这与更大的球员进入更具投机性资产有关，例如在流入中一直在流入的新成员。

Market Sentiment and Investor Behavior

市场情绪和投资者行为

There is still a chance for growth in the memecoin market, if the overall positive net inflow of 239K is any indication. That seems to be the takeaway from the latest report by Delphi Labs, which uncovered quite a bit of capital being poured into relatively small and mostly unknown tokens. The scene remains volatile; the nature of the market is still very much in the speculation zone. And yet, here we are, with some people still putting some of their memecosmo coins on the down low.

如果有任何迹象表明，如果总体净流入23.9 k，则仍然有可能在Memecoin市场增长。这似乎是Delphi Labs的最新报告的收获，该报告发现了很多资本被倒入相对较小的，大多数是未知的令牌中。场景保持波动。市场的性质在投机区仍然非常重要。然而，我们在这里，有些人仍将他们的一些memecosmo硬币放在低谷中。

Particularly, the substantial amounts of money flowing into tokens such as $FARTCOIN indicate

特别是，流入$ fartcoin等代币的大量资金表明