The prosperity of Ethereum on-chain drives the revival of Memes, while the Solana ecosystem faces new challenges.

Recently, the market has shown a slight recovery from the bottom, with Ethereum performing particularly well. Thanks to factors such as the Pectra upgrade, continuous buying of ETFs, and the success of the Virtual new issuance model, capital recognition, technological upgrades, and the prosperity of the on-chain ecosystem have jointly driven the continuous rise in the price of Ethereum coins, while also boosting the revival of Ethereum on-chain Memecoins.

In contrast, the established secondary Memecoins and AI sector tokens in the Solana ecosystem are generally rising, but the primary market is accelerating without sustainable narrative support. At the same time, the upper market is facing continuous selling pressure, while the lower market is being continuously drained. Apart from the Bonk system, new tokens find it difficult to support the entire ecosystem, making it increasingly difficult for ordinary users to profit.

In terms of the revival of Ethereum Memes, the Matt Furie concept makes a comeback. Pepe, as the leading Ethereum Memecoin, has performed outstandingly in this round of pump. With Ethereum's strong rise, the Matt concept has been re-explored, leading to the emergence of new projects like RATO and BERRY. Additionally, there are non-Matt series frog concept tokens like FROGGER. Industry insiders believe that the unified artistic style of the Matt series characters is easily recognizable and is likely to give birth to new leading projects.

The established Meme token on Solana has also seen a large influx of funds. Recently, the number of active addresses on Solana has surged, with trading volume and liquidity far exceeding ETH Meme. The BONK series platform BONKFUN has performed remarkably, attracting numerous project parties and users through incentive programs. Tokens such as USELESS, HOSICO, and IKUN have performed well on the BONKFUN platform. In addition, established Meme tokens like MoonDeng, PNUT, and TITCOIN have also collectively exploded.

In the secondary market, the coins with the highest inflow rankings are mostly old coins that have been issued for more than 150 days, such as MEW, POPCAT, SLERF, WIF, etc. AI concept tokens have also received some attention.

Overall, there has been no new incremental capital entering the current market, and the appearance of prosperity may just be a rescue by the market makers. The probability of a super Meme coin emerging has significantly decreased, and the market is filled with uncertainty. In the environment of short cycle bull-bear transitions, investors need to remain cautious and adjust their strategies in a timely manner.