Hyperstition #22 — May 30, 2025
SOL down on memecoin slump, Loud preps 'Initial Attention Offering', and more.
Memecoin cooldown weighs on SOL price
The price of Solana’s native SOL token has declined by nearly 8% this week as a cooldown in memecoin trading activity weighed on trader sentiment, according to data from CoinMarketCap.
On May 30, SOL dropped to weekly lows of around $162 per token after hitting resistance around $185 on May 23, the data shows.
The decline mirrors a broader pullback in the cryptocurrency markets as Bitcoin’s price retraced to roughly $105,000 per coin on Friday after tapping all-time highs of $111,000 earlier this week.
It also reflects a slowdown in memecoin trading volumes and declining market capitalizations across Solana’s most popular coins.
During the week of May 26, total weekly trading volumes on the network’s decentralized exchanges (DEXs) dropped to less than $17 billion from around $30 billion for the week prior, according to data from Dune Analytics.
Meanwhile, the cumulative memecoin market capitalization dropped by more than 8% during the same period, according to CoinMarketCap.
Several of Solana’s most popular coins — including Official Trump (TRUMP), Popcat (POPCAT) and Pengu (PENGU) — experienced drawdowns of more than 10% this week, per CoinMarketCap.
Still, traders are optimistic that Solana’s increasingly popular Internet Capital Markets (ICM) meta will revive trading activity in the second half of the year.
”Whether you call it an ICM meta or Solana utility szn, it’s around the corner,” crypto influencer Chill said in a May 29 X post.
“There are so many good projects being built on Solana… Ton of these things are going to $100M+,” Chill said.
In other news…
Loud preps ‘Initial Attention Offering’ as InfoFi heats up
Loud, an InfoFi project affiliated with Kaito AI, is set to launch a so-called Initial Attention Offering on May 31, distributing 45% of its LOUD token supply. The offering will take place in two rounds via HoloLaunch, targeting early adopters and Kaito users.
The LOUD token aims to reward contributions to a decentralized “attention market” where influence, not products, drives value. The launch is an early test of Kaito’s broader InfoFi vision for tokenizing digital mindshare.
Dupe.com adds DUPE liquidity, cuts trading fees in bid for user growth
Dupe.com has seeded a $500,000 self-funded liquidity pool for its DUPE token and slashed trading fees from 2% to 1%, the online retailer said in a May 29 X post.
The move follows a buyback of 18% of total supply and aims to improve token health while drawing in new users.
Since its April 29 launch on Believe.app, the DUPE token has helped the Web2 discount retailer drive growth without paid advertising. “We’re using the token instead of paying for ads,” CEO Bobby Ghoshal said at Solana’s Accelerate 2025 event.
Dupe plans to let users stake DUPE behind product picks and earn based on performance, combining retail incentives with crypto-native mechanics.
Binance Futures lists HYPE after 77% monthly rally
Binance Futures has listed HYPE, the native token of Hyperliquid, with up to 75x leverage. The listing follows a 77.5% HYPE price gain and more than $9 billion trading volume on Hyperliquid in May, per data from DeFiLlama,.
By the numbers…
