Look at the top Solana memecoins in the last 24h:

$MOONPY
$DUBS
$WIN
$AE
$SNOWBALL
$CHUNGUS
$AIGPT
$PEPPA
$FLIP

Most of them:
<$1M mcap
thin liquidity
hours old
up 200–1,000%+

This is not a healthy memecoin cycle.

This is what happens when:
- majors go nowhere
- midcaps are dead
- conviction is gone

So capital drops straight to speed trades.

People aren’t bullish.

They’re bored and hunting volatility.

That’s late-cycle behavior, not early-cycle accumulation.

If this was real strength, you’d see:
- expansion up the risk curve
not everyone crowding the bottom
- Trade it if you want, just don’t confuse it with a new leg.

What are you seeing: rotation… or desperation?