Solana is back in the spotlight. Despite a $1.9B withdrawal from large network stakers, SOL meme coins are posting solid gains in the market.
Leading the bull rage is Michi, a new meme coin that was launched at the end of April 2024. With around 540M supply and no listings on centralized exchanges, the meme coin gained over +300%, according to CoinMarketCap in the past 7 days.
Michi
The rally of $MICHI demonstrates that the drive for meme coins is still present. Some expected upcoming projects on Solana to shift away from the chain due to congestion issues. $MICHI’s rally shows that the ‘hunger’ for SOL meme coins remains elevated.
$MICHI momentum was also fueled by Ansem, a popular crypto influencer. When a token is mentioned by individuals with hundreds of thousands of followers, the price reaction may be in accordance.
Shark Cat ($SC) is another meme coin that has witnessed large inflows. Although it is listed on LBank, the majority of its volumes are generated from decentralized exchanges.
The meme coin features a cat dressed in a shark costume, similar to Michi. A cat is also used for the logo. It is quite common for animals, including cats, dogs, and even dragons, to star on meme coins.
Boden
Joe Boden ($BODEN) meme coin was launched in March 2024. The meme coin suffered from general weakness in the cryptocurrency markets. However, the token joined the meme coins rally on SOL, up more than 50%.
Similar to the above meme coins, all of the activity takes place in decentralized exchanges. While it may be unclear why those meme coins gained momentum, it reflects crypto traders are still showing interest in Solana-based meme coins.
Sealana presale hits $13M
A new meme coin on Solabna, Sealana has raised $13M. When meme coins draw large attention at the presale stage, it measures the demand and trust in the chain.
The animal-featured meme coins are the hottest trend and it does not seem to end soon.
Despite all the issues with Solana, it is still the best home for meme coins.
