"The king is dead, long live the king": The power transition of the Solana memes issuance platform.
"The king is dead, long live the king." This ancient declaration once echoed in the Palace of Versailles in the 18th century, marking the end of one era and the beginning of another. Today, this phrase is once again validated in the world of cryptocurrency, but this time the stage is the meme coin issuance platform on the Solana chain.
Power never belongs to anyone; it flows like water, always seeking new containers. In just a few months, the once-dominant Pump.fun plummeted from holding 88% of the market share to just 13%, while the new challenger Let'sBONK rapidly rose, capturing 86% of the market. This is not just another example of volatility in the crypto world, but a classic case of imperial collapse, demonstrating that when the key moat of attention is ignored, even the greatest first-mover advantage can disappear in an instant.
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Recently, many meme coin projects have emerged on the Virtual platform, among which VIRGEN coin and NOTHING coin have attracted attention due to their innovative mechanisms and team integrity. VIRGEN coin's no lock-up period and community-friendly airdrop have sparked market enthusiasm, while NOTHING coin attracts users through permanent token lock-up. Although success is hard to replicate, the platform must carefully maintain ecological health to avoid the impact of low-quality projects.

The story of Bonk: From Meme to a symbol of community power
In July of this year, Bonk's market share surpassed that of its competitors, attracting significant attention in the market. Bonk is not just a simple token; it represents an intriguing story about the interplay between community and capital.
Bonk has experienced two major reversals:
First, during the collapse of a major exchange, Bonk challenged capital on behalf of Solana developers, marking the glorious era of Solana meme tokens.
Secondly, when the market is dominated by certain speculative behaviors, Bonk leads many participants back to a community-centered meme culture. By creating interesting narratives such as Wangcai, useless coins, and Hosico, Bonk once held an important position in the Solana ecosystem.
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Subsequently, numerous new platforms and asset launch projects emerged in the market.

Labubu toys are popular due to their unique design and mystery box model, with sales reaching 6.3 billion RMB. However, the tokens themed around Labubu have experienced a big dump in price due to a lack of practical use, reflecting the market reality that cannot be sustained solely by speculation.

Bonk has experienced multiple twists and turns from community to trading. It represents the rise of Solana developers during the market crash, reshaping meme culture. Despite facing a decline in popularity, Bonk relies on the passion and creativity of the community, planning to welcome a third reversal, looking forward to being active in the market again.

"The king is dead, long live the king": The power transition of the issuance platform for memes on Solana
"The king is dead, long live the king."
This declaration echoed in the Palace of Versailles on May 10, 1774. Louis XV had just passed away, and those nobles who had bowed before him immediately turned and rushed towards the next king. This was not cold-bloodedness, but rather the instinct for survival.
The French understand a truth about power: power never belongs to anyone. It flows like water, always seeking the next vessel. This declaration is not mourning the dead, but acknowledging the new king. Yesterday's monarch may today become a footnote in history. The change comes swiftly, ruthlessly, and inevitably.
Power requires this indifference. Empires rise on the corpses of their ancestors. New rulers inherit the old throne. This cycle repeats. And now, the issuance platform landscape of memes on the Solana chain is reenacting this ancient ritual.

Internet Memes Meet Wall Street: The Birth of the DOGE ETF and Cultural Games
In September 2025, a somewhat mocking code flashed on the electronic screen of the New York Stock Exchange: DOJE. This cryptocurrency, marked by a Shiba Inu avatar, was once just a programmer's joke eight years ago, but now it has landed on Wall Street in the form of an Exchange-Traded Fund (ETF), managing hundreds of millions of dollars in assets. When the seemingly contradictory concept of "DOGE ETF" becomes a reality, a formal game of taming between internet memes and traditional finance begins. The essence of this taming is both a compromise of grassroots culture with capital power and a reorganization and incorporation of emerging assets by the financial system.
![First US DOGE ETF (DOJE) Now Trading: How to Buy and Key

History of meme coins: from DOGE to AI Token
As one of the most unique entities in the cryptocurrency space, memes have developed in a way that reflects the collision of internet culture and financial speculation. From initial sarcastic jokes to now occupying a place in the market, memes are telling us through their experiences – in today's era, cultural resonance and community belief may drive value creation more than technical white papers.
1. Breaking ground/expanding foundation(2013-2016)
This period witnessed the original innovative journey of memes from zero to one, presenting a unique ecology of savage growth and natural selection coexisting. Marked by the birth of DOGE in December 2013 and culminating in 2016 with the maturation of Ethereum smart contract technology, it constitutes the purest "Genesis Era" in the history of meme development.
1.1 Ephemeral Type
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Solana issues new coin platform follows
Recently, a new coin platform has emerged in the Solana ecosystem, sparking widespread discussion in the community. This platform, named LetsBONK.fun, is gradually replacing the once dominant Pump.fun and becoming the new favorite of users.
The rise and fall of the old platform
Pump.fun has been one of the hottest on Solana for over a year.

Review and Outlook on Mainline Predictions in the Web3 Field
Looking back at the predictions for the Web3 main line a year ago, the current main development directions present the following characteristics:
1. Stablecoins and Real-World Asset Tokenization (RWA)
Projects worth noting in this field include:
- A certain stablecoin company: As one of the leaders in the stablecoin market, its equity value reflects expectations of 5-8 times growth in the stablecoin market over the next 5 years. Recent price corrections may provide a better entry opportunity.
- A certain stablecoin public chain project: Leading its competitors in terms of financing scale, ecological construction, and social influence. With the mainnet launch, its total locked value (TVL) is expected to reach 3-4 billion USD. The trillion-dollar growth of the stablecoin market in the coming years will provide enormous imagination space for stablecoin public chains.
- A certain decentralized stablecoin project: As a representative of the decentralized camp, the stablecoin it issued has surpassed

The listing of the DOGE ETF marks the convergence of meme assets and TradFi, reflecting the paradox of regulatory arbitrage and cultural fragmentation. Although it has successfully attracted a large amount of capital, it also harbors hidden risks, losing the original spirit of Decentralization, which may alter the essence of meme coins.

Labubu plush toys will take the world by storm in 2024, achieving success with unique designs and sales models, while related Meme coins quickly fall, reflecting the speculative risks in the digital asset market. Physical products can achieve long term success, while digital assets struggle to maintain their value, warning market participants to follow actual applications and Intrinsic Value.

The Labubu character will trigger a craze for collectible toys in 2024 and successfully expand into Virtual Money. However, its virtual currency has fallen significantly due to market dynamics, showing that virtual assets are greatly affected by hype and lack real value support. Success must be built on continuous innovation and real value.

Analysis of Memecoins Investment Strategies
Memecoins, as a special category in the cryptocurrency market, have attracted the attention of many investors. This article will analyze how to evaluate and invest in memecoins from multiple perspectives.
Beta strategy
Some memecoins correspond to their respective Layer

The article analyzes the future trends of the Crypto Assets market, pointing out that the market direction will become clear after September, with the current rise mainly stemming from short-term factors. Bitcoin demand remains strong, while investment in alts has become more differentiated, with only Tokens that have practical uses able to attract funds. There may be a future integration of AI and Crypto Assets, becoming a new investment focus. Overall, the market is shifting towards practical applications and clear narratives.

Memecoins: Market Analysis and Investment Strategies
In the cryptocurrency space, Memecoins have attracted the attention of investors as a unique asset class. This article will delve into why certain Memecoins may become part of an investment portfolio, as well as how to assess and select these assets.
The investment logic of Memecoins
Memecoins are attractive to some investors mainly because they have a high correlation to the underlying Layer 1 (L1) assets.

Labubu toys have rapidly gained popularity due to their unique design and successful mystery box marketing, with sales reaching 6.3 billion RMB. However, its namesake crypto asset LABUBU has sunk due to market fluctuation and lack of actual value, revealing the high speculation and bubble risk of Meme coins.