idk man fartcoin hit 1.25 billion marketcap earlier this month. lack of real projects on base isn't the issue. doesn't solana just have memecoins?

Solana has more than memes; it’s just the memes became dominant attention wise.

I think people under estimate the “wealth effect” of a $8 > $200+ run.

Plenty of folks added Sol positions under 20 and those multiples likely spurred all sorts of “fun”.

Bonk, Jup, etc pushed the vibes with their drops.

If ETH was even 10K or 20K reckon we would see a lot more activity on the L2s as a whole.

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isnt technically people out there who bought eth at 300 too?

are those just interested on selling whenever it hits 4k now? 😭

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Yeah … yet those folks have likely already spent the wealth effect gains imo… different cycles of course.

My gut says more of the og eth folks are angel investing etc which doesn’t hit the main trading pools the same way.

Or they all just bought punks, irl stuff or something.