Meme coins can be said to be the main narrative of 2024, with some small stories of getting rich quickly from time to time.
While the VC coins on the exchange are still cascading, there are still some opportunities to make money on the chain.
So how many golden dogs have appeared in the market in the past year, and how many people have caught the golden dogs?
Taking advantage of the intermission of the current market, we can review and summarize, roughly calculate the data of the Golden Dogs of different chains, and understand specifically whether the wealth-creating effect of Meme coins is real and how strong it is.
1. Which chains have the most Golden Dogs?
The three chains with the highest frequency of Golden Dog Meme Coin are SOL, Base, and BNB.
Other chains will also have scattered golden dogs, but the probability is lower.
(1) Solana has low cost, high performance, and relatively complete meme coin tools, such as pumpfun. Therefore, this public chain can be said to have the soil for the development of meme coins and the explosion of gold dogs.
(2) With the endorsement of Coinbase, the number of Golden Dogs has increased significantly, but its maturity is still not as good as Solana.
(3) BNB Chain is an old public chain. Relying on the strong promotion of Binance, many Golden Dog projects have also emerged.
(4) Ethereum’s gas fee is high and the winning rate of Meme coins is low, but once a golden dog appears, the wealth effect is strong.
(5) On Tron, there have been star projects such as SUNDOG, which rose to prominence with the help of SunPump, but the window period was very short.
(6) New chains such as Sui/Aptos have relatively new ecosystems and few Golden Dogs.
The following data statistics will mainly focus on these chains.
2. How many golden dogs have appeared in these chains in the past year?
Here we can quantify the statistics more.
Let’s first define what a golden dog is. There are mainly three dimensions:
- Increase: The increase after going online reached more than 50 times.
- Market capitalization: Peak market capitalization exceeded $100 million.
- Popularity: Having significant community support or attracting a large amount of traffic in a short period of time (such as celebrity endorsement)
According to this statistical definition, we can roughly count:
（1）Solana
About 1,500-2,000 new trading pairs are added every day, and about 550,000-730,000 Meme coins are added in a year.
Among them, the proportion that meets the "Golden Dog" criteria is further reduced to about 0.1%-0.3%. Taking into account fluctuations and data conservatism, only 10%-20% may ultimately meet the "Golden Dog" conditions, that is, 55-219.
Combined with the actual activity, a conservative estimate is that the number of Golden Dogs on Solana in the past year is 100-150.
(2) Base
About 2,000 to 3,000 new trading pairs are added every day, and about 730,000 to 1.1 million Meme coins are added in a year.
The proportion of high-quality projects is lower than Solana, and the proportion that meets the "Golden Dog" standard is about 0.05%-0.2%. Taking into account volatility and data conservatism, only 10%-20% may meet the "Golden Dog" conditions in the end, that is, 36-220.
Considering that the Base ecosystem is relatively new, it is estimated that the number of Golden Dogs in the past year was 50-80.
(3) BNB Chain
About 500-1000 new trading pairs are added every day, and about 180,000-360,000 Meme coins are added in a year.
Golden Dogs account for approximately 0.1%-0.2%. Taking into account fluctuations and data conservatism, only 10%-20% may ultimately meet the "Golden Dog" criteria, that is, 18-72.
A conservative estimate is that the number of golden dogs in the past year was 30-50.
Due to the high gas fee restrictions, Ethereum has fewer daily transaction pairs, a low proportion of Golden Dogs, and relies on the support of leading projects. It is conservatively estimated that the number of Golden Dogs in the past year is 10-15.
The Tron chain is mainly driven by the SunPump craze, with a medium number of daily trading pairs and a limited number of Golden Dogs. It is conservatively estimated that the number of Golden Dogs in the past year is 10-20.
Emerging chains (such as Sui, Aptos, and Bitcoin Runes) have immature ecosystems and few Golden Dogs. A conservative estimate is that the number of Golden Dogs in the past year is 5-15.
3. What is the distribution of the appearance time of these meme coins?
To show it more clearly, I divided the time into four quarters (2024 Q2, Q3, Q4 and 2025 Q1) and counted the number of appearances of the "Golden Dog" Meme coin by chain.
(1) Solana is dominant: the number of Golden Dogs is the largest in each quarter, with peaks in 2024 Q2 and 2025 Q1 (30-40). 2024 Q2 is the early stage of the Meme coin craze, and 2025 Q1 is the peak of Meme coins.
(2) Rapid growth of Base: from 10-15 in Q2 to 15-25 in Q4, reflecting the inflow of funds and the maturity of the ecosystem in 2024.
(3) BNB Chain is generally stable: there was a slight increase in Q4 (10-15), mainly due to the strong promotion of founder CZ, but the overall increase was limited.
(4) Ethereum is sparse: only 2-5 per quarter, and high gas fees limit the outbreak.
(5) Tron has a short-term peak: in Q3, it reached 5-7 due to SUNDOG and SunPump, and then fell back.
The quarterly distribution is relatively balanced: the total number is 205-330, with an average of 50-80 per quarter, and Q4 (56-90) is the peak of the year.
4. How many people have caught the golden dog?
"Addresses that caught the golden dog" refers to the number of addresses that have gained more than 10 times. These addresses are usually early participants who bought in a short period of time (hours to days) after the project went online, or those who accurately bought at the bottom of the price.
The opportunity for a 10-fold increase is mainly concentrated in the early stage of the "Golden Dog" outbreak, and the window is usually only within a few hours.
As a result, whales and early investors took most of the profits, while most addresses bought at high prices and missed the 10x window.
In general, Solana and Base may account for a slightly higher proportion (2%-5%) due to their low costs and high transaction volumes; Ethereum accounts for a lower proportion (0.5%-2%) due to its high gas fees.
5. Summary
(1) Distribution of Golden Dogs:
Solana, Base, and BNB Chain are the three most active chains on the Golden Dog, among which Solana performs best due to its low cost and high performance;
In the past year, Solana generated 100-150 Golden Dogs, Base had 50-80, and BNB Chain had 30-50;
(2) Golden Dog Characteristics and Time Distribution
Golden Dog definition: an increase of more than 50 times, a peak market value of more than 100 million US dollars, and significant community support;
Q4 of 2024 will see the peak number of Golden Dogs, with a total of 56-90 Golden Dog projects;
(3) Actual profit
Profit opportunities are mainly concentrated in early participants within a few hours after the project goes online;
About 2%-5% of the addresses on the Solana chain have received more than 10 times the return, about 90,000-360,000 addresses;
(4) Market characteristics
The rotation of multiple chain hot spots is the norm, and it is difficult to prepare sufficient liquidity on each chain;
Even when the overall market conditions are not good, there will still be local hot spots and opportunities;
So how do we catch the rotating golden dog?
It is impossible for us to prepare a large amount of liquidity funds on each chain. When hot spots appear, temporarily pooling funds for cross-chain operations will also cause very large wear and tear.
Therefore, here we recommend a full-chain trading tool: UniversalX.
This is a full-chain trading platform that can trade with any assets on any chain, opening up the liquidity of the entire chain.
Therefore, it can be said to be an essential trading tool in the multi-chain world. (For a detailed introduction, please see my previous tweet)
In short, on-chain casinos may be temporarily shut down, but they will not close.
I still believe that Memecoin has a second life, and we can be prepared.
