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Not really:

The above is the overall sMerit sent from one rank (left) to another (top) (**). Look at it in detail and youll see that for example Sr. Members (38.244) have received more sMerit than Heroes (25.291), Full Member (42.830) than Sr. Member (38.244), and Members (51.601) more than any. Of course one has to remember that the number of people in each rank decreases the higher the rank, but even so, the assertion is not correct on aggregate terms.
Its better to look at it on
Merit Dashboard (Tab labelled From/To Ranks), where you can filter by dates and delimit the above data to recent months for example.
Note (**): Ranks are current ranks for each user, not ranks at the exact time the merit was awarded (not feasible with currently available data).