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River (RIVER) fell more than 4% over the past 24 hours after an aggressive parabolic run that pushed the token to a record high near $87.79. The pullback followed a near 1,500-1,900% rally over the past month, depending on the exchange, with RIVER now trading close to $70.

Benjamin Cowen, CEO of Into the Cryptoverse, issued a warning that most altcoins should and likely will go to zero. The analyst posted on X that traders should “stop believing in the alt season just because some guru told you it would happen.” Cowen characterized the cryptocurrency asset class as requiring cleansing of “useless garbage” with midterm years providing ideal conditions for this process.

New speculative interest has swept through the meme coin market today, with top tokens Dogwifhat (WIF), PEPE, DOGE, SHIB, BONK and FLOKI all posting high-volume, double-digit gains. Let’s break down the key movers and see which of these rallies have real strength behind them.

Pump.fun, the largest and oldest memecoin launchpad on Solana, has launched the “Glass Full Foundation” (GFF), a new initiative to inject significant liquidity into the most vibrant communities in its ecosystem. The foundation will select and support the most promising memes created on the platform.

Solana’s memecoin community is captivated as its two largest launchpads, Pump.fun and LetsBonk.fun, collide in a battle for supremacy, with Pump.fun narrowly reclaiming its top spot for daily token launches.

Market data platform Lookonchain today that high-leverage trader James Wynn has once again suffered losses on the perpetual futures exchange Hyperliquid. Wynn had recently claimed $23,117 in referral rewards and used the funds to open new long positions on PEPE, Ethereum (ETH), and Dogecoin (DOGE).