pump, bonk and their top memes, fartcoin and useless, now occupy 60% of mindshare in the memecoin sector. already shared my views on pump vs bonk in the last weeks. but would you rather hold pump or fartcoin here? 1/ fartcoin's mcap is now higher than pump. to see how significant this is, here are mcaps of launchpads and their top token: bonk ($2b) -> useless ($0.2b) virtual ($0.8b) -> aixbt ($0.1b) but also: ethereum ($435b) -> uniswap ($6b) solana ($90b) -> pengu ($2b) we usually see a >10x mcap diff between the token and the underlying infra that supports it. based on this metric, it seems that either fartcoin is overvalued, or pump is undervalued, or both. +1 for pump 2/ fartcoin is down 40% from recent highs, but it still doesn't look cheap at $1b as the only comparable meme with a higher mcap is spx (only 50% higher). doge shib and pepe looking out of reach. on the other hand, pump is down 62% from tge and already >2x cheaper than bonk. +1 for pump 3/ on the other hand, pump being a protocol, its valuation is tied to its metrics. revenue, token launches, volumes. fartcoin can pump at anytime for no other reason that the market being bullish. but as we have seen a single statement by alon can drop pump's mcap by more than $500m. +1 for fartcoin 4/ community and social metrics are very important for memecoins. both pump and fartcoin have a good community and high mindshare. I like to use @_dexuai maxi chart to evaluate the strength of the community. we see pump having way more maxis than fartcoin. +1 for pump 5/ as soros says: "the worse a situation becomes, the less it takes to turn it around, and the bigger the upside." at this stage a single bullish tweet from alon could set the bottom for pump. we are already seeing signs of sell exhaustion. yes all the on-chain metrics are down for pump but that's already priced in and this could be the bottom both for on-chain metric and the token. +1 for pump ---- overall, it seems to me pump is a better buy here compared to fartcoin (and most other memecoins).