Top 3 Solana Meme Coins Other Than BONK With High Growth Potential In Q1 2024.
Key Highlights
- Solana’s meme coin craze peaked in December 2023 as trading volume briefly outpaced that of Ethereum. However, by the year’s end, these meme coins experienced a downturn.
- The Solana Meme Coins has a market cap of $1.21 Billion and a volume of $456.12 Million.
- Dogwifhat (WIF) stands out as the top meme token followed by popular meme coins SAMO and MYRO.
- There were 7918+ newly minted tokens on Solana in December 2023, but tokens fell 69% to just over 2,600 since its December 27 high.
- In 2024, Solana’s new approach towards web3 and meme coins, along with more airdrops, could boost the Solana meme coin ecosystem.
As we approach Q1 of 2024, many investors are now searching for the best Solana meme coins eying for new all-time highs. After all, meme coins allow high-risk investors to get target gains when the broader market is bullish. At the same time, the market gives losses like popular Solana meme coins, BONK, have dropped more than 55% from their all-time highs.
Solscan metrics reveal a downturn in memecoin trading on Solana, with newly minted tokens reducing by over 65% since December 27, 2023. Pyth and Jito’s airdrops on Solana supported last year’s surge. If the same trend continues, an upcoming Jupiter DEX aggregator airdrop could trigger another trading boost in Q1 2024.
Solana Meme coins are fueled by social media buzz and enthusiast excitement. Knowing which meme coins have the potential to explode is like finding a needle in a haystack. Here’s our in-depth analysis of the top 3 Solana meme coins poised for high pump potential in Q1 2024.
Best Solana Meme Coins in Q1 2024
Dogwifhat (WIF)
Market Cap: $244.10 Million
Year-over-year return: 44.92%
Dogwifhat turned out to be one of the biggest hits in the Solana ecosystem, as the second-largest meme coin on the Solana network. This meme coin originated from an internet meme of a Shiba Inu dog wearing a pink crochet hat. Turning to the market activity, the trading volume for WIF stands at just over $124 million and is the top 7th mem coin by market cap globally with a 115% surge in price over 7 days.
Binance, the world's largest exchange has not yet officially listed Dogwifhat, and this listing could potentially drive a price increase. Following 1st ETF approval in the US, evangelists are now predicting that Dogwifhat ETF will also enter the market soon. Influential figures in the crypto space, such as Arthur Hayes, Co-Founder of BitMEX & CIO, have expressed optimistic sentiments about Dogwifhat.
Myro (MYRO)
Market Cap: $114.02 Million
Year-over-year return: 2,772%
Myro is the third-largest meme coin on the Solana network and the 11th largest globally by market cap, Myro derives its name from the beloved pet of Raj Gokal, a co-founder of Solana. Beyond its endearing origin story, MYRO offers exclusive perks to holders, including the purchase of limited-edition Myro merchandise.
Over the past month, Myro has experienced a remarkable surge of over 244%. The team has unveiled upcoming developments poised to enhance its value, including the launch of a user-friendly staking program in 2024. Additionally, the Myro team plans to equip this new dog coin with enhanced utilities, sparking further interest and potential for growth. Optimistic supporters are even speculating on potential listings on top-tier crypto exchanges such as Binance (BNB) and Coinbase.
Samoyedcoin (SAMO)
Market Cap: $48.97 Million
Year-over-year return: 218%
Samoyedcoin stands out as the fourth-largest meme coin on the Solana network with a trading volume of $2.93 million. It distinguishes itself through a distinctive marketing philosophy and a community-centered approach.
However, beyond its role as an entry point to the Solana ecosystem, SAMO offers limited utilities lending NFTs and Samo Swap. The future trajectory of Samoyedcoin is closely tied to the broader adoption and performance of the Solana blockchain. The community concentrated on onboarding Solana users, educating market participants, making personal connections, and helping each other navigate life.
Major Airdrop For Potential Price Surge
Historically, airdrops have often preceded a surge in Solana meme coins. On December 7, during the Jito airdrop, Solana DEX volumes hit a yearly peak, surpassing it on December 22. Anticipation now surrounds the Jupiter (A DeFi aggregator on Solana, streamlining the process of token swaps by pooling liquidity from various DEXs) airdrop, set to distribute 40% of its upcoming JUP token to early users, potentially revitalizing activity and boosting meme coins on the Solana network.
Conclusion
In conclusion, the Solana meme coin landscape presents a dynamic and evolving market, marked by both highs and lows. Despite the recent downturn in memecoin trading on Solana and a significant drop in newly minted tokens, the stage is set for a potential resurgence in Q1 2024. Upcoming airdrops and unique features make Dogwifhat, Myro, and Samoyedcoin promising in Q1 2024. The market’s anticipation for the Jupiter airdrop adds to the intrigue, suggesting a potential resurgence in Solana meme coin activity.
