MEMECOINS IN GENERAL AND MEMES ON $SOL ALMOST "DIED"

1) The dominance of memecoins is at its lowest point in 2 years

- The market capitalization ratio of memecoins within the entire altcoin market has fallen to a historical low. Each time the dominance reaches this level, the market enters a reset phase: liquidity disappears, new buying power is zero, and only weak technical rebounds remain.

- This crash is even heavier because memecoins have run too hot from late 2023 to mid-2024.

2) The Solana network also plummeted along with memecoins

- The performance of the Solana network compared to $BTC is currently at a 2-year low and continues to slide. The capital that sustained Sol throughout 2024 - especially speculative capital in the form of meme-farming - has been completely withdrawn.

- Without liquidity premium, no money rotation, the chart of the Sol ecosystem looks like a downward slope without brakes.

3) The Memecoin Index has diverged significantly from BTC, becoming increasingly weak

- BTC rebounding is a BTC issue. Memecoins no longer react.

- Sideways movement also does not elicit a response. Even if BTC remains still, memecoins continue to fall.

=\u003e This is a characteristic of the "no bid" market: every rebound is immediately sold off, and there are no buyers left.