Meme Coin Market One Year Review: The Rise of the Golden Dog and Profit Analysis for Investors

In 2024, Meme coins became one of the main narratives in the cryptocurrency market, with individuals occasionally reaping huge returns by investing in such tokens. Although most tokens on traditional exchanges have performed mediocrely, there are still some potential profit opportunities on the blockchain.

As the current market takes a brief breather, let's review the past year, analyze the data of Golden Dog on various public chains, and discuss whether the wealth effect of Meme coins truly exists and how it influences.

The Public Chain with the Most Distribution of Gold Dogs

The "Golden Dog" project in Meme coin mainly appears on three public chains: SOL, Base, and BNB. Other public chains also occasionally appear, but with a lower frequency.

1. Solana provides a good environment for the development of Meme coins and the birth of the Golden Dog due to its low cost, high performance, and well-developed Meme coin tools (such as pumpfun).

2. Base benefits from the support behind it, and the number of gold dogs has significantly increased, but its maturity still does not match Solana.

3. BNB Chain, as an established public chain, has also given rise to many golden dog projects under strong promotion.

4. Although Ethereum has high Gas fees and the success rate of Meme coins is low, once a golden dog emerges, its wealth effect is very significant.

5. Tron once briefly had well-known projects like SUNDOG, rising with the help of SunPump, but the duration was limited.

6. Emerging public chains like Sui/Aptos have relatively few gold dog projects as their ecosystems are still in development.

Estimation of the Number of Gold Dogs on Various Public Chains

We define "Golden Dog" according to the following criteria:

• Price increase: After launch, the price increase reached over 50 times.
• Market Cap: Peak market cap exceeds 100 million USD
• Popularity: Has significant community support or attracts a large amount of attention in a short period of time.

Based on these standards, we have made a conservative estimate of the number of gold dogs on various public chains:

1. Solana: Approximately 1500-2000 new trading pairs are added daily, with an estimated total of 100-150 gold dogs in the past year.

2. Base: Approximately 2000-3000 new trading pairs are added daily, with an estimated number of golden dogs in the past year being 50-80.

3. BNB Chain: Approximately 500-1000 new trading pairs are added daily, and it is estimated that the number of golden dogs in the past year is 30-50.

4. Ethereum: Due to high Gas fees, it is estimated that the number of Golden Dogs in the past year was 10-15.

5. Tron: Mainly influenced by the SunPump craze, it is estimated that the number of Gold Dogs in the past year was 10-20.

6. Emerging public chains (such as Sui, Aptos, Bitcoin Runes): The ecosystem is not yet mature, and it is estimated that the number of gold dogs in the past year was between 5 and 15.

Golden Dog Project Timeline Distribution

Divide the time into four quarters (2024 Q2, Q3, Q4 and 2025 Q1), the emergence of various public chain gold dog projects is as follows:

1. Solana: The maximum number of gold dogs each quarter, with peak periods in Q2 2024 and Q1 2025 (30-40 coins).

2. Base: Increased from 10-15 in Q2 to 15-25 in Q4, reflecting the capital inflow and ecological maturity in 2024.

3. BNB Chain: Overall stable, slight increase in Q4 (10-15 coins).

4. Ethereum: Only 2-5 projects per quarter, high Gas fees limit project explosion.

5. Tron: In Q3, reached 5-7 due to SUNDOG and SunPump, then fell back.

Overall, the Golden Dog project has a relatively balanced distribution across quarters: a total of 205-330, with an average of 50-80 each quarter, and Q4 (56-90) being the peak for the year.

Investor Profit Situation

The address of "Grabbing the Golden Dog" refers to addresses that have achieved a price increase of more than 10 times, typically early participants who bought shortly after the project's launch or investors who accurately bottomed out at the price trough.

The opportunity for a 10x increase is mainly concentrated in the initial outbreak of the Golden Dog project, and the window usually lasts only a few hours. Therefore, large investors and early participants have gained most of the profits, while the majority of addresses bought in at high prices, missing the chance for a 10x return.

Overall, Solana and Base may have a slightly higher proportion of profitable addresses (2%-5%) due to low costs and high transaction volumes; Ethereum has a lower proportion (0.5%-2%) due to high Gas fees.

Conclusion

1. Distribution of the Golden Dog: Solana, Base, and BNB Chain are the three most active public chains for the Golden Dog, with Solana performing the best.

2. Characteristics and Time Distribution of Golden Dogs: Golden Dogs are defined as projects with a price increase of over 50 times, peak market capitalization exceeding 100 million USD, and significant community support. Q4 2024 is the peak period for the number of Golden Dogs.

3. Actual Profit Situation: Profit opportunities are mainly concentrated within a few hours after the project goes live. Taking Solana as an example, about 2%-5% of addresses have achieved more than 10 times returns.

4. Market Characteristics: Multi-chain hot spot rotation is the norm, making it difficult to maintain sufficient liquidity on every public chain. Even when the overall market condition is poor, there will still be localized hot spot opportunities.

Although on-chain speculative activities may have temporarily decreased, the market has not disappeared entirely. The meme coin market may still see new developments, and investors should remain vigilant and prepared.