All information in this article is provided for informational purposes only and does not encourage you to buy meme coins!

Recently, in March 2024, BTC hit an all-time high, reaching $73,700!
With its rise, many other tokens have become active, including meme coins.

What are meme coins?

Meme coins are coins that, simply put, have no value or utility.
If compared to other tokens or altcoins that have their own products, services, tokenomics with marketing, meme coins are essentially empty shells without such plans.
Meme coins are often associated with various internet memes, including frogs (like Pepe), dogs (DOGE), cats, and other animals, and even presidents.
The very first meme coin is DOGE, which is based on a meme with a photo of a Shiba Inu dog. It has its own blockchain, which makes it stand out compared to other memes:
Elon Musk often mentions DOGE in his Twitter posts (and this is one of the potentials for the growth of meme coins), so DOGE remains in the spotlight for many crypto enthusiasts.
For example, when Elon changed his Twitter logo to the DOGE logo, the token immediately jumped by 30%, but this is only a small increase for a meme coin because in 2024, there are memes with much greater potential!

Meme Coins on Solana

Now let’s get to more interesting meme coins, namely meme coins on Solana.
*If you are not yet familiar with the Solana blockchain and its ecosystem, follow the article to learn about major distributions from projects.
With the rise of Bitcoin, Solana also grew (from $20 to $220) — the main blockchain for all drop hunters and meme hunters, which is only gaining popularity.
Since the fee on the Solana network is negligible, meme coins on Solana become an interesting field of view for crypto enthusiasts.
Currently, more than 20,000 tokens are created daily on Solana, and a large part of them are, of course, memes — or shield coins, which have no value in the Web3 world.
Let’s look at the most potential meme tokens on Solana, whose charts have become parabolic.

DogWifHat

DogWifHat is a popular meme token on Solana, created based on the “Dog in a Hat” meme. It may sound incredible, but the token gained rapid popularity and managed to reach a market capitalization of $3.5 billion.
Like most coins, the token has no utility and is created solely for the entertainment of crypto enthusiasts.
The meme coin itself was created back in November 2023, and its price grew from $0.00155 to reach an all-time high (ATH) of $4.0281 (in 5 months), representing over 225,000% growth!
The token’s success was fueled by the collection of $700,000 from devoted followers to display the “Dog in a Hat” on an external screen in Las Vegas!

BONK Inu

BONK is a multifunctional token supporting the BONK ecosystem and aims to create a decentralized community-based platform. The project even distributed its unique airdrop, as mentioned in the Solana article.
Currently, the token is owned by over 650,000 users, and the meme token continues to emulate dog-themed Ethereum meme coins (such as Dogecoin and Shiba Inu).
Surprisingly to many, the project’s ecosystem has united over 119 projects, including leading DeFi platforms such as Wormhole and Injective.
The token’s current market capitalization is $2.5 billion+, and it reached its ATH in March 2024, making over 52,000%+ gains in a short period:

PENG

PENG is another well-known meme coin, specifically a penguin meme coin designed to enhance liquidity on the Solana blockchain. Although the PENG coin uses the penguin form, it hints at the PEPE meme coin in the frog.
The token’s growth was driven by an army of subscribers in X, reaching over 14,000 subscribers within a week of launch.
During its period, the token grew from an all-time low (ATL) of $0.0837 on March 7, 2024, to an ATH of $2.14 on March 15, 2024, with a current market capitalization of $40 million:

BOOK OF MEME (BOME)

BOME — The most discussed meme coin on Solana in March of this year.
The token was launched in mid-March, initially disappointing buyers (price dropped to $0.00005848), but after March 16, it managed to reach a peak of $0.02689 (over 45,000% in 2 days!), surpassing a $1 billion market capitalization!
On the same day, Binance launched a perpetual contract for BOME with leverage of over 50x. After the announcement, BOME surged in popularity. However, this also led to accusations of insider trading on the platform, although they were ultimately rejected after an internal inquiry.
Another plausible reason for the coin’s spike is the FOMO from meme coin enthusiasts, especially those who missed the WIF pump.
But now the hype around the token has faded, and whether there will be a new one is unknown:

SLERF

SLERF — a newborn meme token on the Solana blockchain.
The token is famous for its developer burning whale and LP tokens, reserved for the airdrop, when renouncing ownership of the contract.
Despite such contradictions, the token grew by 252% in 1 day from $0.3693 on March 18 to $1.30 the next day.
Then the project moved to listings on exchanges, launching a price spike within a couple of hours:

$SLERF

SLERFIN

www.slerf.wtf

POPCAT

POPCAT — a meme token associated with cats.
According to the project, in a series of videos, a cat named Oatmeal opens its mouth and forms the letter “O,” which sparked hype around the meme.
The token itself decreased in price to $0.003797 on January 5, 2024, before reaching an all-time high of $0.3723 on March 15, 2024, representing a growth of over 9700% in less than three months!
Currently, the market capitalization is $323 million.

WEN

WEN — a meme coin representing a cat robot, designed to scale the Solana ecosystem (Not to be confused with the WEN project, whose airdrop we discussed in the Blast article).
The uniqueness of this coin lies in the fact that each WEN provides an equal share of ownership of Meow’s poem “A Love Letter to Wen Bros” and fractional NFTs for the WEN community.
Additionally, the project has developed a new standard that allows for the creation of tokenized assets on the Solana blockchain.
Like other meme coins, WEN saw a rise from $0.0000156 on January 26, 2024, to $0.0004106 on March 9, 2024, resulting in a growth of 2532.05%.

Conclusion

Thus, meme coins are an interesting narrative for 2024, but always remember that where there is high profit, there are also high risks!
In the case of meme coins on Solana, only 1% of the total mass of 20,000 tokens generated daily shows giant gains, as with BOME, so preserving funds is paramount!
What are the main factors to consider when choosing meme coins?
There are many, many factors to consider, but let’s highlight the main ones:

• Risk tolerance — the main factor, as a meme coin can crash at any moment, and you may lose your funds.
• DYOR — research the project’s vision, website, research Twitter by inserting ($TICKER, #TOKEN NAME) into the search engine and scroll to the bottom to determine where the token’s history began.
• Analyze the community — this is a key factor because even if the project is bad, but the community believes in the token, in the long run, the meme coin can show gains.
• Diversification — do not put all your eggs in one basket, allocate no more than 5% of the amount for risks with the purchase of meme coins. Also, consider criteria for selling the token if it grows in the near future (for example, locking in at 50% when the token shows 2X growth).
• Follow the narratives — meme coins are very sensitive to the market, so use platforms like DeFiLlama from the article to track inflows into major trends, not only in meme coins but also in airdrops!

Thank you for reading the article! If the article was interesting to you, then we can release Part 2 dedicated to gains on meme coins:

• To do this, subscribe to our Telegram channel and get ready to react to the post about meme coins, which will soon appear!
• The more reactions to the post, the faster Part 2 dedicated to meme coins and rules of working with them will be released!

And if you don’t want to take big risks and are ready to diversify and receive greater profit in the long run, switch to the platform where you can automatically receive airdrops from potential projects!


By:
https://medium.com/@airdrophunter_official/what-meme-coins-on-solana-will-give-you-100x-in-2024-49b82d8268b8