Original Article Title: "Decoding Moonshot Listing Data: 50% Inevitably Zeroed Out, TRUMP Coin Emerges as the Strongest Gold Dog"

Original Article Author: ChandlerZ, Foresight News

Since its launch, Moonshot has quickly gained recognition in the market with its focus on the Meme coin ecosystem, and has even been praised by some industry insiders as the "Binance of the Meme World." Against the backdrop of the currently subdued overall trading sentiment, the on-exchange data on the Moonshot platform reflecting price movements, market cap trends, and development status of various projects still provides important insights for us to deepen our understanding of the Meme ecosystem.

In essence, Moonshot is a Meme trading platform built on the Solana blockchain, aiming to lower the entry barrier for the average user into the crypto market through a simplified registration and trading process. The platform supports various fiat deposit methods such as Apple Pay, credit cards, and PayPal, and has also achieved fast and convenient asset withdrawals. During the Meme coin craze in the second half of 2024, Moonshot attracted some users by quickly screening and listing popular tokens.

According to Dune Analytics data, the trading volume and transaction fees of Moonshot in 2024 showed overall flat growth, with daily trading volume hovering around tens of millions of dollars and daily active traders averaging between 3500 and 4900. This state changed when former U.S. President Trump launched his personal Meme coin TRUMP on January 18, 2025, and Moonshot subsequently listed TRUMP. The official Twitter account of Trump once again promoted the TRUMP token, sparking a frenzy.

According to the official data provided, within 12 hours, Moonshot was recommended as a purchase method on the TRUMP token's official website, and the platform processed nearly $400 million in trading volume, breaking the fiat on-ramp record, and attracting over 200,000 new users.

As TRUMP and the overall market cooled off, Meme coins experienced a widespread pullback and price volatility. What was the wealth effect of Moonshot like? We attempt to explore this by deeply analyzing the performance of tokens listed on Moonshot over the past three months, discussing its situation as an emerging trading platform, and the market conditions behind this effect.

116 Tokens Listed in March, 68 Nearing Zero, One-Third Peaked Upon Listing

In this article, we have selected tokens that were listed on the Moonshot platform between November 2024 and January 2025 as the research sample. The data is based on the listing time records provided by the "Moonshot Listings" account.

The overall data is as shown in the following figure:

The "Moonshot Listings" records show that during these three months, a total of 116 tokens were listed on Moonshot. Among them, 54 tokens were listed in November 2024, 38 in December, and a total of 24 in January 2025.

Furthermore, in the current market environment, out of the 116 listed tokens, only 17 are currently priced higher than their listing price, accounting for less than 15%. The vast majority of projects are currently in a downward trend, with over 85% of projects experiencing a price drop.

Due to the meme nature of many projects nearing zero, we also attempted to objectively calculate this data. If we define projects that have dropped by over 90% from their peak price after listing as "nearing zero" projects, from the statistical data, out of the 116 tokens we analyzed, 46 projects in November, 17 in December, and 5 in January 2025 meet this criterion, totaling 68 projects, accounting for over 58.6%. This number intuitively reflects that most tokens quickly lost market support after the initial hype.

Simultaneously, we also found that based on the criterion of projects whose highest price increase after listing was less than 20%, classified as "peaked upon listing," there were 12, 13, and 8 projects in the three statistical periods, totaling 33 projects. Nearly one-third of the projects had already approached their all-time highs during their initial appearance on Moonshot. However, due to a lack of sustained fundamental support or a weakening market confidence, they quickly lost their potential for further gains.

40% of Tokens Doubled in Price After Listing, TRUMP Dominates Fundraising

Approximately 40% of tokens have at least doubled in price after listing, indicating that the market showed great enthusiasm and support for some projects in the early stages. From a data perspective, the top ten projects in terms of current gains and gains after listing to some extent exhibit a cross-over trend, with some tokens holding a leading position between their all-time high and current performance. Due to unique political factors, TRUMP undoubtedly holds absolute dominance.

PNUT and 360noscope420blazeit (MLG) have seen price surges of 4797.96% and 2555.56%, respectively, while degenai, CHILLGUY, and several other projects have also surpassed a 20x price increase. These data indicate that under extreme market sentiment and short-term speculative frenzy, some tokens briefly received extraordinary market attention and speculative capital support, leading to significant price spikes.

However, compared to their all-time highs post-launch, the current price surges of the top ten projects appear relatively modest. Currently, TRUMP has surged by 1940.70%, significantly lower than its previous peak; similarly, MLG and AI Rig Complex (ARC) have seen decreases to 1034.44% and 661.32%, respectively, and the tenth-ranked Moby AI has only a 26.54% increase. This discrepancy reflects that while some projects experienced explosive growth, as market sentiment becomes more rational and profit-taking ensues, the price surges of the vast majority of projects have significantly narrowed.

These two sets of data complement each other, outlining a picture: some projects saw explosive price surges in the short term due to market hype, but as the market cooled and profit-taking manifested, very few projects were able to sustain their growth. This also reveals the characteristic of the current Meme coin market, where speculative sentiment is strong, and price volatility is high, as well as exposing the stark reality that after the initial frenzy, most projects face a reassessment of value and risk.

「Buy the Dip」 Proves Resilient

Looking at the data on pullbacks from the peaks, excluding the special case of Coinbase Wrapped BTC, those projects with pullbacks around 50% actually experienced relatively mild drops.

Take spinning cat (OIIAOIIA), for example, with a pullback of about 46.94%, which can be seen as relatively mild during a correction from the peak. Following projects like ARC, SNAI, MLG, FRIC, Butthole, and Pippin, their peak-to-trough pullback percentages are close to or above 50%. This indicates that within the entire sample, only those projects with pullbacks around 50% can still be considered to have fallen relatively "lightly," while most projects have undergone more severe price retracements.

If we conduct stratified statistics based on market capitalization, the current high-market-cap Meme coins consist of only 9 projects, with an average price increase of 440.67% and an average peak-to-trough drawdown of 60.74%. In contrast, mid-cap (28 projects), low-cap (42 projects), and projects with a market cap below 1 million (37 projects) present a completely different picture. Low-cap projects are more affected by speculative sentiment and market volatility, with most of them already approaching a "zero" state.

In summary, we can see that the wealth creation effect demonstrated by this platform in the Meme field is both dramatic and exposes its inherent high-risk nature. As an emerging trading platform mainly focused on Meme coins, Moonshot's listing effect has indeed allowed individual projects (such as TRUMP, for example) to achieve astonishing returns in a short period during certain extreme market conditions, attracting a large influx of speculative funds. However, looking at the overall data, out of 116 listed projects, over 85% of projects have experienced significant declines, and tokens with low market caps and those with a market cap below 1 million are generally facing a fate close to zero, as the listing effect has not been able to establish broad and enduring value support in the current market environment.

Memes themselves, as assets primarily driven by entertainment and topicality, exhibit extremely rapid and volatile price fluctuations. Trends come and fade quickly, and the speed of returning to zero is truly astounding. This extreme volatility and fragility are precisely the core characteristics of the Meme asset market, where market sentiment can easily be driven to extremes by temporary hype. However, once the hype fades, funds quickly flow out, and the price correction, or even the speed of reaching zero, far exceeds expectations.

It can only be said that while Moonshot platform's listing effect has brought substantial returns to "some" investors, it has also sounded an alarm for market participants. In this market characterized by quick gains and losses, speculative enthusiasm is often short-lived. Risk management and rational investment are the only way to navigate this high-risk field.

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