Meme Coins See Surge in Trading Fueled by Virality and Blockchain Growth Bets

• Meme coins show strong correlation between price surges and growth of user wallets on blockchains despite no inherent value • Active addresses on blockchain networks have increased along with meme coin trading activity (e.g. BONK on Solana) • Avalanche Foundation investing in meme tokens on its network, recognizing their memetic value • Meme coins provide opportunities for quick profits, have gained virality due to their unique nature • Surge in meme coins seen as way to bet on growth of a blockchain by some traders (prominent Ethereum and Solana meme tokens rallied recently)