full image - Repost: Three power centers of memecoins: Ethereum, Solana, and BNB Chain (from Reddit.com, Three power centers of memecoins: Ethereum, Solana, and BNB Chain)
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Memecoins have long ceased to be a “joke” and have turned into an independent market segment, forming liquidity and blockchain network activity. This phenomenon is most vividly manifested in the ecosystems of Ethereum, Solana, and BNB Chain. Each of them has its own “champions,” who not only compete for investors’ attention but also strengthen their native blockchains’ positions in the battle for capital and users.Ethereum: the classic of the memecoin movementEthereum became the first blockchain for primary meme tokens: it was here that projects like Shiba Inu (SHIB), Pepe (PEPE), and Floki (FLOKI) appeared. Today, in the Ethereum ecosystem, Shiba Inu holds the leading position with a market capitalization of more than $7 billion. In comparison, PEPE is valued at $4.2 billion, and FLOKI is approaching the $1 billion mark.By the number of holders, SHIB also remains the undisputed leader: more than 1.5 million investors own this token. At the same time, PEPE has fewer than half a million, and FLOKI has fewer than 100 thousand.However, it is PEPE that sets the tone in terms of liquidity. Its PEPE-WETH pair on Uniswap V2 is the most liquid not only in the Ethereum ecosystem but in all of DeFi, with TVL exceeding $57 million. For comparison, the WETH-FLOKI pool in the same protocol holds $18.6 million and is among the top three largest memecoin pairs on the market.BNB Smart Chain: activity without liquidityThe situation in the BNB Smart Chain ecosystem is radically different. Here, FLOKI leads in capitalization, with a market value in the BNB Smart Chain network exceeding $1 billion. In second place is Dogecoin with about $540 million, while Shiba Inu and Pepe look modest in BSC — $110 million and only $4.5 million, respectively.Interestingly, by the number of holders, the leader is not FLOKI or even DOGE, but Baby Doge Coin (BABYDOGE) — a token with more than 1.9 million holders. Next come SHIB (1.3 million), DOGE (977 thousand), and FLOKI (449 thousand). Despite this mass adoption, liquidity in BNB Chain remains a weak point. The largest DOGE-USDT pool barely reaches $546 thousand, while other pairs like DOGE-WBNB, SHIB-WBNB, and PEPE-WBNB do not exceed a few hundred thousand dollars in liquidity.Thus, BNB Chain can be called a “network of activity without liquidity.” Despite its popularity and large user base, the ecosystem cannot offer investors significant trading volumes.Solana: the new arena of the memecoin revolutionUnlike BSC, Solana has turned in recent years into a true hub for memecoins, where its own brands and strong communities are being formed. Here, the leading players are TRUMP and BONK, each with a capitalization of $8.6 billion. The picture is complemented by Pudgy Penguins (PENGU) with $2.2 billion, Fartcoin ($852 million), and dogwifhat (WIF), valued at about $813 million.By the number of holders, the leader is unexpectedly the parody token catwifhat (CWIF), with more than 1.3 million owners. Next comes BONK with 975 thousand, followed by TRUMP (636 thousand), PENGU (575 thousand), and WIF (254 thousand).Solana’s liquidity is also impressive. The WSOL-FARTCOIN pool on the decentralized exchange Raydium has TVL exceeding $20 million and ranks second among all memecoin pairs in DeFi, second only to PEPE-WETH on Ethereum. This shows that Solana has managed to build an ecosystem where memecoins are not just traded but become a full-fledged driver of liquidity.ConclusionsEthereum remains the historical center of memecoins, with SHIB as the #1 brand and PEPE controlling liquidity. BNB Chain demonstrates colossal user activity but suffers from chronic liquidity shortages. Solana, meanwhile, has become a new “memecoin empire,” able to compete with Ethereum and set global trends of its own.
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