<p>A quiet wave of high-risk meme coin accumulation is stirring on Ethereum. In the last fortnight, a handful of aggressive “degen” wallets have injected over $5 million into meme coins, with PEPE commanding the lion’s share.</p>
<p>Here’s a deep dive report into the key players behind the moves, unfolding patterns, and what it could mean next.</p>
<h2 class="wp-block-heading" id="h-who-s-pulling-the-trigger"><strong>Who’s Pulling the Trigger?</strong></h2>
<p>On-chain data revealed that while <a href="https://www.thecoinrepublic.com/2025/05/29/pepe-coin-price-eyes-0-000027-as-trump-boosts-meme-coin-hype-details/" rel="noopener noreferrer nofollow">PEPE </a>racked up $24 million in total volume, only a fraction came from the handful of degen wallets we tracked. These wallets collectively deployed around $5 million across the meme coins’ spectrum.</p>
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   PEPE leads the meme coin charge- Source: Dune
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<p>This includes early allocations to smaller tokens like RESOLV ($2.8 million), ZEUS ($2.5 million), and IRIS ($1.4 million). They hint at a rotation into fresher bets beyond the usual meme majors.</p>
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   PEPE leads the meme charge- Source: Dune
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<h2 class="wp-block-heading" id="h-pattern-analysis-volume-vs-performance"><strong>Pattern Analysis: Volume vs. Performance</strong></h2>
<p>Performance charts over the past two weeks confirm that not all <a href="https://www.thecoinrepublic.com/2025/05/13/best-meme-coins-to-buy-now-bitcoin-pepe-explodes-after-listing-announcement/" rel="noopener noreferrer nofollow">meme coins</a> are equal. While BOBO led with a modest +11.7%, many others are bleeding: FOLKI outperformed as the lowest with a −33% loss, Elon-token shed −19%, and even mid-tier coins like BODEN and POPCAT lost 5–8%.</p>
<p>This sharp contrast suggests that while degens are piling in, they’re also experiencing significant churn.</p>
<p>The speed and scale, trading volumes measured in millions of dollars, underscore both the opportunity and the risk baked into this trend.</p>
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   Top meme coins haven’t performed despite the fund inflow- Source: Dune
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<h2 class="wp-block-heading" id="h-the-rise-of-shiny-new-tokens"><strong>The Rise of Shiny New Tokens</strong></h2>
<p>RESOLV and ZEUS aren’t just token names; they’re front-runners in the new generation of meme coin assets. Combined, these two logged around $5.3 million in degen trades.</p>
<p>The swift capital inflow into freshly launched coins underscores a shift from established memes to next-gen speculative assets.</p>
<p>This dynamic creates a crucible for price discovery and potential knock-on effects across decentralized exchanges, where early accumulators could aim for quick flips or yield farming.</p>
<h2 class="wp-block-heading" id="h-what-the-concentration-tells-us"><strong>What the Concentration Tells Us</strong></h2>
<p>The meme stacks remain highly concentrated. PEPE alone accounts for nearly 20 times the volume of BOBO and five times the volume of Bitcoin.</p>
<p>This dominance signals that while capital is flowing into many tokens, it remains focused on a few market leaders, likely driven by liquidity, recognition, and herd psychology.</p>
<p>Such concentration could exacerbate volatility: sudden sharp moves or capital rotation out of PEPE could ripple through the meme coin layer.</p>
<h2 class="wp-block-heading" id="h-investigating-the-wallet-behavior"><strong>Investigating the Wallet Behavior</strong></h2>
<p>Digging into top addresses, a handful of wallets stand out, hovering near $5 million in cumulative meme coin volume each. Dozens to hundreds of trades were noted across tokens like PEPE, SHIB, and BOBO.</p>
<p>Although not institutional in scale, these are clearly strategists with coordinated or copycat behavior. Their activity doesn’t rely solely on one token; they’re diversifying across multiple meme coin plays.</p>
<p>What remains unclear is the source of initial capital: are they recycling profits from early PEPE trades or injecting fresh ETH to exploit the wave?</p>
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   Wallet activity of top meme coin degen traders- Source:<a href="https://dune.com/cryptokoryo/memelords" rel="noopener noreferrer nofollow"> Dune</a>
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<p>This isn’t the old “alt-season”; it’s a meme coin micro-cycle driven by high-conviction, rapid-turnover degens. The flames may burn bright, but they burn fast.</p>
<p>For now, tracking wallet-level volume, token concentration, and timing across multiple meme coin cohorts will be the best early indicators of what comes next.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2025/06/26/ethereum-degens-flood-meme-coins-with-5-million-pepe-leads-the-pack/" rel="noopener noreferrer nofollow">Ethereum Degens Flood Meme Coins With $5 Million: PEPE Leads the Pack</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

Ethereum Degens Flood Meme Coins With $5 Million: PEPE Leads the Pack

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