Memecoins fall back as smart money chases real utility – What happens now?

Key Points

1. Memecoins' total market cap surged nearly 7% in 24 hours, reclaiming the $70 billion threshold, but individual tokens like MemeCore [M] have retraced significantly.

2. Projects like Floki [FLOKI] are attempting to transition from meme status to utility, but still trade far below their all-time highs.

3. Venture capitalists are hesitant to back memecoins, with smart money moving toward utility-driven assets like Solana [SOL], which has seen a 30% price increase in 90 days.

4. Dogecoin [DOGE] top holders have dropped to a six-month low, while Solana's whale count hit a three-month high, indicating a shift in investor preference.

5. The divergence between memecoins and utility tokens is likely to continue, making it harder for memecoins to secure serious funding and sustain long-term growth.