The memecoin market, this week, continued its unpredictable but magnetic adventure, with a smart-money-on-chain-activity tilt showing clear bullishness on April 23, 2025.
Blockchain analytics signaled a net inflow of $1.95 million into the market—indicating that some might-be-meme-assets are serving as glowing beacons to attract capital back into their vicinity, even as we continue to see most-meme-assets serve up some withstanding-sell-offs.
The total inflows came to $6.11 million, while total outflows reached $4.15 million. This put the on-chain volume for the market at an excellent $10.26 million. Sophisticated traders took notice, and we now have a renewed interest from them to be positioned ahead of the likely next wave of memecoin momentum.
There is a lot of talk these days about what happened in the past and what is happening now to affect the direction of the market. But such discussions are often of limited value because they look backward rather than forward. The smart money offers an early glimpse of where the market may be heading next.
Winners of the Day: $POPCAT, $FARTCOIN, and Others Draw Fresh Capital
When it comes to inflows, $POPCAT—the memecoin inspired by internet cat culture—was the frontrunner yesterday. It pulled in $1.41 million, the highest single-token inflow on the day.:
Inflows Leading the Charge:
$POPCAT- 1.41 million
With cat-themed tokens enjoying a renaissance in recent weeks, $POPCAT’s strong showing may indicate that investors are ready to embrace more playful, community-driven, cat-themed assets.
Trailing closely behind was $FARTCOIN, which pulled in $1.34 million in smart money inflows. Despite—or perhaps because of—its name, Fartcoin has become one of the most talked-about tokens in memecoin circles. This is especially true after a recent whale sold off nearly $5 million in tokens and still retained over $5.5 million in holdings. The fresh inflow shows continued investor belief that the $FARTCOIN run isn’t over yet.
In addition to Bitcoin and Ethereum, other tokens enjoying inflows include $WIF, drawing in $265,000; $GRASS, with $204,000; and #ZEREBRO, which attracted $178,000. Right now, these tokens have been moving somewhat under the radar, with not a lot of new information or updates coming out that would warrant interest in them. Tuesday’s action in smart money, however, indicates that someone (or someones) is taking a chance and moving the capital into these four relatively obscure coins.
Sell Pressure on $BONK, $TRUMP, and Others Raises Questions
Although the overall market appeared bullish, not every token experienced inflows. A number of well-known memecoins seemingly underwent profit-taking, as suggested by their experiencing outflows. Their inflows turned into outflows, which is what can happen when a token isn’t in as high demand as it was when it was being used to mint new coins.
Outflows from $BONK were the largest, totaling $811,000 in smart money that left the project. This may indicate simple portfolio rotation from an older Solana-based meme play into newer ones, such as $POPCAT or $WIF. Alternatively, it could reflect smart money leaving a Solana-based meme token on the whole.
In the same way, $TRUMP recently became well-known when it announced that an exclusive dinner invitation would be given to its top 220 holders. This, however, was shortly followed by seeing $778,000 as an outflow. What does this direct us to conclude? It is not absurd to think that maybe some early investors were just taking some profits after recent attention had driven prices to hype-fueled levels.
Recap: Smart money on chain activities in the memecoin market for 23/04/25
Yesterday, there was more inflow than outflow
Inflow: $6.11M
Outflow: $4.15M
Volume: $10.26M
Net Volume: $1.95MThere was inflow into: #ZEREBRO ($178K) $POPCAT ($1.41M) $GRASS ($204K) #FARTCOIN… pic.twitter.com/2d3QOI7YO9
— Stalkchain (@StalkHQ) April 24, 2025
Other significant outflows were $DARK at $237,000, $ALCH at $190,000, and $PIPPIN at $123,000. Even though these sell-offs are not huge, they do show that traders are being choosy with their capital, favoring meme tokens with either strong long-term narratives or short-term catalysts.
The Market Signals a Rotation—But Not a Retreat
All in all, today’s on-chain activity is showing a rotation rather than a general market retreat. From where we sit, it looks like the smart money is taking capital from some of the older or overextended memecoins and reinvesting it into fresh narratives, newer projects, or tokens that seem to be gaining some social traction. And with a net positive volume of $1.95 million, it looks like the smart money is still confident in the memecoin sector. It’s just that confidence is not evenly distributed.
The memecoin market, as usual, is highly speculative and driven by sentiment, but for experienced observers, the trends of the smart money can provide early signals about which tokens are likely to make the next big move upward.
At this time, the inflows into $POPCAT, $FARTCOIN, and other tokens demonstrate that investors are still placing calculated bets on the volatile digital asset market. Of these bets, some appear poised to pay off if the recent momentum building across the crypto space continues.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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