With Solana memecoin activity tapering off<\/a>, there was an unexpected winner out of the trenches this week in the form of TROLL coin, which is up more than 800% over the last two weeks.<\/p>\n The memecoin\u2019s explosive price action comes as a surprise for many active degen traders. As a result, it’s commanding attention in the Solana ecosystem, accounting for almost 12% of the entire Solana ecosystem mindshare over the last week, according to Messari Portals*<\/a>.<\/p>\n The TROLL token is also one of the first pumpfun-originated memecoin runners over the last two months, with the Letsbonk launchpad dominating the trenches<\/a> recently.<\/p>\n The token breakout comes as PUMP looks on track to reclaim its ICO valuation of $4 billion, while revenue continues to slide after recording its slowest seven-day stretch since March 2024<\/a> last week.<\/p>\n Unlike most memecoins that take off, TROLL launched almost four months ago in April, and has been mostly rangebound since. It is possible that a community takeover (CTO) team or other entity accumulated large amounts of the token over this period, resulting in supply control that fueled the token\u2019s parabolic price action. <\/p>\n It is worth noting that basic onchain analytics such as Bubblemaps<\/a> do not point towards any egregious bundling that has been associated with some other Solana memecoins. The token\u2019s top 100 holders still control 43%<\/a> of the total token supply, which is substantial. Nansen<\/a> data points towards large accumulation over the last week, with most recent buyers still holding a majority of their purchase amount. <\/p>\n Despite these recent buyers \u201cdiamond handing\u201d their tokens instead of realizing scalp profits, smart money has been dumping into the price surge, and smart money\u2019s TROLL supply is down 56%<\/a> over the last week, according to Nansen.<\/p>\n TROLL Smart Money Flows – Nansen<\/p>\n *This article is part of a media partnership with Messari. Messari is building the insight layer for the cryptoeconomy \u2013 empowering builders, institutions, regulators, and the public to make informed, confident decisions.<\/em><\/p>\n![\"the-defiant\"](\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.thedefiant.io%2Fad_4nxd6rltjdnmuekotczyycnzhwnhffga9vbsbzdc7zvgfwtt1fyinzxpa-bbe2ea5d-0e38-4ed1-b66a-a921d5b313dc.png&w=3840&q=100\"\/)
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