In the fast-paced world of crypto, where meme tokens can skyrocket or crash overnight, it's refreshing to see projects with real substance catching attention. A recent thread on X (formerly Twitter) from crypto trader @OnlyLJC has sparked discussions about Graphite Protocol ($GP), highlighting its impressive metrics that suggest it might be undervalued. Let's break it down and see why this could be a hidden gem for blockchain enthusiasts and meme token creators.

The Viral Thread That's Got Everyone Talking

Posted on October 4, 2025, @OnlyLJC shared a straightforward yet compelling case for $GP: a $26 million market cap backed by a $20 million treasury, a $1 million buy wall at $0.80, and $1.5 million in monthly revenue with buybacks. He wrapped it up with, "I'm not crazy. $GP."

To visualize the journey, here's the price chart showing $GP's performance from August to October, peaking around $7 before settling near $0.85.

In a follow-up, he noted that Graphite owns 38% of BONK (a popular Solana meme token) and other products, emphasizing that despite his personal views on BONK, the numbers make it a solid buy for profit seekers.

The thread quickly gained traction, with over 18,000 views, 156 likes, and numerous replies. Community members chimed in, calling it a "good buy" and an "undervalued gem." One user even pointed to upcoming developments like USD1 heating up for a potential "round 2."

What Exactly Is Graphite Protocol?

At its core, Graphite Protocol is a blockchain infrastructure project designed to empower creators. Built initially on Solana and planning expansions to Ethereum and Polygon, it offers tools for launching and managing projects without needing deep technical know-how. Think of it as a no-code suite for minting tokens, creating on-chain casino games, and building sub-brands that generate revenue.

The $GP token serves as the native currency for the ecosystem, used for payments and fees. If users don't have $GP, the protocol accepts other tokens like $SOL and uses them to buy back $GP from the market—feeding into those buybacks mentioned in the thread.

According to data from CoinMarketCap, $GP is currently trading around $0.83, with a market cap of about $26 million and a fully diluted valuation of $49 million. Its all-time high was $6.97 in July 2025, showing significant growth potential from its lows.

For more details, check out their official website.

Breaking Down the Numbers: Why $GP Looks Strong

Let's unpack the stats from the thread:

• $26M Market Cap: This is the total value of all circulating $GP tokens. For context, with a circulating supply of around 31 million tokens, it's modest compared to top meme tokens but backed by real assets.

• $20M Treasury: This war chest comes from protocol revenues and supports operations, buybacks, and stability. Recent announcements from Graphite's X account confirm they're using treasury funds for a $1M USDC buy wall at $0.80, providing a safety net against dumps.

• $1M Buy Wall at $0.80: A buy wall is a large order to purchase tokens at a specific price, preventing the price from dropping below that level. It's a vote of confidence from the team.

• $1.5M Monthly Revenue with Buybacks: As shown in this screenshot from the thread, Graphite leads in 30-day revenue among launchpads, pulling in $1.41 million.

This revenue fuels buybacks and burns, reducing supply and potentially driving up value. The protocol has grown from $5 million annual revenue to over $50 million in just two months, per their updates.

In the meme token space, where hype often trumps fundamentals, Graphite stands out by combining utility (as a launchpad for new memes) with sustainable economics. It's not just a joke coin—it's a platform that could help spawn the next wave of Solana memes.

Community and Future Outlook

Replies to the thread reflect optimism. Users like @DC26x called it a "good buy," while @sadcrissy highlighted potential catalysts like USD1 (possibly a related product). Even skeptics were countered with facts about daily revenue exceeding $40,000.

Graphite's own X feed (@GraphiteProto) echoes this, announcing frequent buybacks (now every minute), an upcoming website relaunch, and interest from centralized exchanges (CEXs) for better liquidity. They're also burning tokens to reduce supply, with estimates of $93,600 in daily buybacks if trends continue.

For meme token practitioners, Graphite could be a key tool for launching fair, multi-chain projects. If you're into Solana ecosystems or looking to diversify beyond pure memes, $GP's blend of revenue generation and creator support makes it worth watching.

As always in crypto, do your own research—this isn't financial advice. But with these fundamentals, @OnlyLJC might be onto something. What's your take on $GP? Drop a comment below!