Not Yet: Past Meme Hype Lifted SafeMoon and Saitama — Bull Market Needed

I remember how SafeMoon surged to a $6 billion market cap in just two months on the promise of building an exchange, and how Saitama reached about $10 billion within four months off the promise of a wallet and other features. Back then, many Layer-1 projects and serious blockchain platforms were easily trading at $5–10 billion market caps or higher.

Those outsized valuations were driven by the hype phase of a bull market — a period when speculation, speculation-driven liquidity, and bullish sentiment pushed crypto valuations far beyond fundamentals. Right now, we are not in that same hype environment, so expecting similar market-cap moves today would be premature.