Solana meme coins have seen a substantial decline of more than 8%, with specific tokens like BONK falling 6.5%. This drop occurs as investors increasingly choose quality assets such as Ethereum.
Ethereum’s value has surged by 47.5% this month, driven largely by growing institutional interest. Nearly 8% of Ethereum’s total supply is now owned by institutional investors.
Investors are focusing on projects with stronger market dynamics and fundamentals, moving away from meme coins. The total meme coin market is down 4.1%, in contrast to Ethereum’s gains.
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