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11 Best Solana Meme Coins to Buy in May 2024

TokenTalk Staff

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11 Best Solana Meme Coins to Buy in May 2024

Last updated:

May 2, 2024 05:00 EDT
| 18 min read

The Solana ecosystem is home to over 200 cryptocurrencies, including dozens of Solana meme coins with huge potential to grow. In this guide, we examine the 11 best Solana meme coins to buy in 2024.

Top Solana Meme Coins to Buy Today

  • Brand new South Park-inspired seal-themed SOL meme coin
  • Ideal coin to buy in presale ahead of the expected summer meme coin frenzy
  • Thought to be by the team that was also behind the viral SLERF coin

Project Launched

May 2024

Purchase Methods

  • Solana

    Solana

  • First truly multi-chain Doge token, promising interoperability across major blockchains
  • Easy to buy and claim $DOGEVERSE tokens during presale phase
  • Could be the next Doge-inspired coin to explode ahead of Doge Day

Project Launched

April 2024

Purchase Methods

  • ETH

    ETH

  • usdt

    usdt

  • Buy and hold $SMOG to generate and earn airdrop points
  • 35% of supply reserved for future airdrop rewards
  • Viral potential after pumping over 1000%

Project Launched

February 2024

Purchase Methods

  • usdt

    usdt

  • Solana

    Solana

  • Send SOL and wait for airdrop – the new way of doing presales
  • Over $10M raised, launches April 29
  • No hard cap total – first come first served

Project Launched

March 2024

Purchase Methods

  • Solana

    Solana

  • Trending meme coin with P2E utility & staking rewards
  • Price up 10x in past month, rumors of Binance listing
  • 12k+ holders and growing

Project Launched

December 2023

Best Solana Meme Coins List

  1. Sealana – Best Solana meme coin, based on a popular South Park character.
  2. Dogeverse — New multi-chain Solana meme coin pioneering cross-chain utility.
  3. Smog — Solana multi-chain crypto airdropping 490 million tokens.
  4. Sponge V2 — Stake-to-bridge meme coin. V1 token soared by 100x in 2023.
  5. Slothana — Simplest presale mechanism coin, thought to be from the founders of the viral SMOG token.
  6. Lucky Boo – Solana-based dog-themed token, get huge airdrop rewards.
  7. Bonk — Biggest Solana meme coin by market cap, featuring over 100 integrations.
  8. Dogwifhat — New meme coin soared by more than 14,000% since launch.
  9. Myro — Doge meme coin, named after the Solana co-founder, Raj Gokal’s dog.
  10. Loaf Cat — A new, cat-based Solana meme cryptocurrency with an NFT collection.
  11. Wen — Innovative coin introduces a lightweight, fractional NFT Standard to Solana.

A Closer Look at the Top Solana Meme Coins

Knowing which meme coins have the potential to explode is like finding a needle in a haystack. It’s essencial to research extensively and ensure your portfolio is well-diversified. Below, is our analysis of the best Solana meme coins in 2024.

1. Sealana – Best Solana-Based Meme Coin to Buy in 2024

We have picked Sealana ($SEAL) as the best Solana-based meme coin to buy in 2024. The illustration of this new meme cryptocurrency features a lazy and obese American Redneck seal. 

Sealana presale

It is inspired by ‘World of Warcraft Guy’ – a popular character from South Park. The seal decides to start trading cryptos to move out of his mom’s basement. This project invites eager investors to join its meme coin by investing in the $SEAL presale. 

The project is built on Solana, one of the fastest blockchains in the space. In recent times, new Solana meme coins have proven to be worthwhile investments. For example, Popcat, a new meme token on Solana, soared by 280% in the last 14 days. 

To join the Sealana presale, one can transfer SOL tokens to the following crypto wallet address – DJ15ZYXqUNMYJ3hL7z4ciSaSFAw5cbos3YjGpdvwmF6c. 

Sealana img

Once the tokens are transferred, Sealana will airdrop $SEAL directly to your wallet. Currently, investors will get 6,900 $SEAL tokens for every 1 SOL invested. For more project updates, join the Sealana Telegram channel and follow Sealana on X (Formerly Twitter)

Visit Sealana

2. Dogeverse — New Solana Meme Coin, Pioneering Cross-Chain Utility

Dogeverse, the newest Solana meme coin, has quickly garnered attention for its innovative multichain capabilities. It’s not just a regular meme coin; it’s the first to launch on six blockchains: Ethereum, BNB Chain, Polygon, and Solana, with Avalanche and Base soon to follow.

The star of Dogeverse is Cosmo the Doge, born from a supernova and capable of jumping between crypto universes. This gives $DOGEVERSE holders the unique ability to move across various blockchains effortlessly.

Dogeverse homepageCosmo is the hyper jumping star of the cross-chain Dogeverse

With a total supply of 200 billion tokens, Dogeverse has earmarked a significant portion for diverse aspects like staking, liquidity, marketing, and ecosystem development. This strategic distribution speaks to its long-term vision.

The project’s roadmap is methodically laid out, beginning with website launch and community building, moving towards marketing efforts and exchange listings.

Dogeverse token supply allocationDogeverse tokenomics

Investors can stake their $DOGEVERSE tokens on Ethereum for passive income. Applications for listings on CoinGecko and CoinMarketCap are underway, promising increased visibility and accessibility.

In just two days, Dogeverse raised an impressive $1 million in its ICO, selling out two stages of its presale rapidly, a testament to its growing popularity and potential.

Visit Dogeverse

3. Smog — Popular Meme Coin, Aiming to Make the Greatest Airdrop on Solana

Smog ($SMOG) is a new meme cryptocurrency. According to its roadmap, Smog wants to become the largest-ever token on the Solana blockchain. To achieve this, Smog will host one of the biggest token airdrops.

To participate, you can purchase $SMOG from the Jupiter DEX and start earning airdrop points, or you can purchase $SMOG directly from the Smog website using ETH or USDT and stake it for 42% APY. Token airdrop points can also be earned by taking part in quests and challenges hosted on the platform.

Smog homepage

This new coin has already risen by 1,300% within 24 hours of its Jupiter listing. With Smog expected to release 490 million tokens through airdrop campaigns, the platform could experience an increase in activity in the coming months.

The $SMOG trading airdrop points will not be revealed until later. In total, $SMOG has a total supply of 1.4 billion tokens. Half of the tokens will be used for marketing purposes, in hopes of making it the best meme coin in the long term.

If $SMOG continues to offer higher returns, it can attract tier-one listings on exchanges such as Binance and Coinbase.

Smog tokenomics

Learn more about this SOL-based cryptocurrency by reading the Smog whitepaper and joining the Telegram channel.

Visit Smog

4.  Sponge V2 – Best Stake-to-Mine Crypto Offering 202% in Staking APYs

Sponge V2 is the latest upgrade of the $SPONGE meme coin, which saw its value soar by 100x in 2023. With version 1 going from a market cap of $1 million to $100 million last year, the founders are aiming to replicate that success with Sponge V2.

The latest iteration of the meme coin will be centered around its Stake-to-Bridge model, which will enable holders of $SPONGE to migrate over version 2 via staking.

Sponge V2 Presale Module

A key element of $SPONGE has been its community building, with a $20 million market cap, and roughly 13,000 holders. Version 2 will leverage this, integrating a P2E (Play-2-Earn) game which will allow players to earn tokens of the upcoming release.

Overall, Sponge V2 will have a total supply of 150 billion tokens, 43.09% of which will be allocated for staking rewards. 26.93% has been set aside for bridging $SPONGE, 7.5% for marketing, 4.47% will be used for game development, 10% for CEX liquidity, and the remaining 8% put away for P2E rewards.

There’s excitement ahead of the Sponge V2 launch, with investors hoping to replicate gains from $SPONGE. The community currently has over 40,000 followers, across its Telegram and X (Twitter) channels.

Visit Sponge V2

5. Slothana — Simplest Presale Mechanism Coin, Thought to Be From the Founders of the Viral SMOG Token

Slothana ($SLOTH) is currently the best Solana meme coin to buy. It’s emerging as a potentially viral Solana-based meme coin, following its predecessors like Sloth Coin ($SLERF).

After witnessing huge investor traction, the token has raised over $10 million in its presale. The platform’s presale mechanism allows investors to send $SOL directly to the token address in exchange for $SLOTH coins. This approach offers a hassle-free experience and has proven successful.

The expected meme coin peak in April, alongside the Bitcoin halving and Dogecoin Day, creates favorable conditions for Slothana.

Slothana Token Presale

Additionally, there are rumors that the founders of Slothana are the same as the ones behind the massively successful SMOG token. This further adds credibility and expectations of similar performance from Slothana.

Slothana’s marketing strategy capitalizes on the current trend of Solana meme coins by focusing on humor and virality. The project leverages Solana’s fast and cost-effective transactions and makes it a preferred platform for meme coin creators and traders.

Interested users can follow Slothana on X to keep up with the most recent news and listing updates.

Visit Slothana

6. Lucky Boo – Solana-Based Meme Coin, Get Huge Airdrop Rewards

Lucky Boo ($BOO) is a trending meme cryptocurrency built on the Solana blockchain. The project’s avatar is a cute puppy that goes by the name of Lucky Boo.

Lucky Boo presale

 This project is your cryptocurrency lucky charm, boasting the potential to be your gateway to wealth and high rewards. Lucky Boo may lack utility but promises huge airdrop rewards to early token adopters who buy Lucky Boo. Currently, the $BOO token is available to buy through its second presale round. 

After launching on April 5th, 2024, Lucky Boo’s first presale stage sold out in a flash. Now, with just a 1 SOL investment, you can receive more than 178,000 $BOO tokens. The presale can be accessed by connecting compatible Solana wallets, such as Phantom. 

Due to Solana’s high transaction speeds, throughput, and low costs, investors are looking to invest in more tokens on this blockchain. With other SOL-based meme coins like $SLERF and $BONK offering huge returns, Lucky Boo now wants to become the next big investment opportunity. 

Lucky Boo image

Notably, 40% of $BOO’s 8.1 billion token supply will be offered through airdrops. Therefore, presale investors can secure huge bonuses in the long term. The presale will allocate 5% of the token supply, with another 10% set aside to provide liquidity on exchange listings. 

Learn more about this meme coin by reading the Lucky Boo whitepaper and joining the Telegram channel.

Presale Started April 2024
Purchase Methods  SOL
Chain Solana
Min Investment None
Max Investment None

Visit Lucky Boo

7. Bonk — Largest Meme Coin on the Solana Network

BONK is the largest meme coin on the Solana network and remains the best Solana meme coin for recent performance. This meme coin was launched in January 2021.

BONK was initially priced at $0.000000109 per token, and hit an all-time high of $0.00002445 on the 15th December 2023. The price has since halved.

shibonk solana meme token Currently, BONK has a market capitalization of over $1.4 billion. In terms of tokenomics, 50% of the BONK supply was originally airdropped to the Solana community. This includes Solana developers, NFT collectors, DeFi users, and artists.

The remaining BONK tokens are split between marketing, liquidity, and its DAO. Those who believe BONK is the best crypto to buy can complete their purchase at Gate.io, Bybit, HTX, and Raydium.

8. Dogwifhat — Most Active and Entertaining Community

Dogwifhat, $WIF, burst onto the scene at the end of 2023, notching up gains of 182% in its first few days of listing. It has since climbed higher, posting gains of nearly 300% from its launch price.

Dogwifhat Homepage Mission Statement

This meme coin is “literally just a dog wif a hat” and doesn’t promise anything. A sizable community has sprung up around it, including over 75k followers on X, and almost 10k members in a Telegram group.

Numerous videos and images of the same dog in alternative hats have already been created by the community, and the website tells of a WIF Hat generator to be released in the future, but with no deadline for its release.

This meme coin has also gained some traction with big exchanges, with Binance launching futures trading for Dogwifhat, with 50x leverage, in mid-January 2024. Dogwifhat is currently trading at $3.22, a 1,818% gain on its launch price but 32.9% down from its all-time high.

9. Myro — Best Solana Meme Coin Project for Dog Lovers

The Myro meme coin is based on the real life dog of Solana co-founder Raj Gokal, which is also called Myro. Its goal is to pay homage to him and his dog and it’s designed as more than a cryptocurrency, with the goal of making Solana more inclusive and welcoming for everyone.

Myro Solana Meme Coin Explainer

Myro aims to offer several unique features and contribute to the long term growth of the Solana ecosystem. These features are:

  • A Myro trading bot: A BuyBot on Telegram for Myro, with fees going to a treasury, the Treat Jar, to fund future growth.
  • A Myro staking platform (coming soon): A staking platform where holders of Myro can stake their coins to earn rewards and secure the Solana blockchain.
  • Other utilities: Yet to be announced. These releases will deliver utility to holders of $MYRO.

Myro has seen gains of over 99,500% since its release but it is currently 46% below its peak of $0.41.

10. Loaf Cat — Best Meme Coin for People Who Really Love Bread and Pixel Art

Loaf Cat, ticker: $LOAF, is a Solana-based meme coin that is a “pixelated wizard master cat in full-on loaf mode.” The contract has been renounced, and the future of this Solana meme coin, launched at the turn of 2024, will be decided by the community.

A supply of 100 billion $LOAF exists, and 43 billion were put on the Raydium exchange, with the tokens representing that liquidity burned. 15 billion tokens were allocated to the team, 15 billion to CEX listings, 20 billion to marketing, and 7 billion to community airdrops.

$LOAF Meme Coin Banner

The Loaf Cat roadmap includes the development of a game studio, an NFT collection, a trademark of LOAF Cat, the release of Loafers merchandise, and bakeries all over the world (seriously).

$LOAF launched with a price of $0.0001736 and rose to an all-time high of $0.0002801, representing gains of over 60%.

11. Wen — Best Meme Coin for NFT Enthusiasts

Wen is a cute cat meme coin designed around a love poem to the Wen Bros of the crypto-verse. It aims to push the limits of Solana, by releasing of a new fractional NFT standard for Solana — the Wen standard.

Wen Token Logo

The love poem from the cute cat mascot to Wen Bros was split into 1 trillion pieces (the $WEN token supply) and is traded like a normal token. This means that each token owner holds a tiny bit of the poem.

Wen was the first token using the WNS standard, a new lightweight standard for NFTs on the Solana blockchain. When it was released, 70% of the $WEN supply was earmarked for the initial airdrop, done through a fair launch process through the Jupiter exchange.

What Are Solana Meme Coins?

Solana meme coins are cryptocurrency tokens created on the Solana blockchain network, often with humorous or satirical themes. These coins mimic the behavior of mainstream cryptocurrencies but serve primarily as a form of entertainment.

They can experience volatile price fluctuations and attract speculative trading, similar to other meme coins on different blockchain platforms. Take dogwifhat as an example. This meme coin was launched in January 2024, and generated gains of over 5,783%.

Few meme coins have been launched on Solana, compared to other networks. But the number is increasing, largely because of lower fees and more scalable transactions.

number of active accounts NFTs mintes and average cost per transaction on Solana

Meme coins allow high-risk investors to target gains when the broader markets are stagnant. That said, these coins are fraught with risk. In fact, investors should be prepared to lose some or even all of their investments. To counter this, consider diversifying across multiple meme coins — not only on Solana, but on other blockchains.

How Solana Meme Coins Work

Solana meme coins operate on the Solana blockchain. They leverage its unique token standard known as SPL, or Solana Program Library, which is the standard for creating all types of digital assets on Solana, including meme coins.

The appeal of Solana meme coins stems from the blockchain’s ability to handle transactions quickly and at low costs. This efficiency is vital for meme coins, where timing and transaction fees can significantly influence trading strategies.

Moreover, these tokens are versatile, representing various assets and enabling a wide range of activities. Investors can trade these coins, engage in staking to earn rewards, or participate in decentralized finance activities — all while benefiting from Solana’s fast transactions and minimal fees.

Methodology: How We Picked the Best Solana Meme Coins

When building a portfolio of meme coins, you should look beyond the underlying blockchain and consider the legitimacy of the project, its tokenomics, and the size of its community.

Still not sure which Solana meme coins to buy for maximum upside? Below, we explain how we ranked the top SOL meme coins for this Solana meme coin list, and the weighting that we assigned to each factor.

Legitimacy (25%)

The reality is that many meme coins are scams. This is due to the anonymous nature of cryptocurrencies and presale campaigns.

That said, not all meme coins are illegitimate. On the contrary, some of the best-performing cryptocurrencies of all time are meme coins. This includes Dogecoin, Shiba Inu, and SafeMoon.

With this in mind, the first step is to assess the credibility of the meme coin. We read the whitepapers of these Solana meme coins to assess who is behind the project and whether they have any prior successes in this space.

Anonymous teams aren’t necessarily a red flag. In fact, Bitcoin was created by an anonymous developer. Ultimately, the objective is to separate legitimate meme coin projects from the bad. This will require in-depth research and due diligence.

Tokenomics (25%)

Next, we spent time researching the tokenomics of each Solana meme coin. This refers to the total number of tokens created and how they are distributed.

The best Solana meme coins distribute the majority of their tokens when launching. This prevents the team from holding a large number of tokens, which they can dump at any time.

Moreover, some meme coin investors like projects that have a burning mechanism in place. This is similar to a share buyback scheme, as tokens are removed from the circulating supply.

Community (25%)

One of the most effective ways to evaluate a Solana meme coin is by the size of its community. After all, the larger the community, the more people there are to plug the project.

A prime example of this is Dogecoin, the original dog meme coin, which has one of the largest numbers of token holders in the crypto space. Smog is another example of a project that has a huge community, with nearly 50K followers on X and high levels of engagement.

Market Capitalization (25%)

Solana meme coin investors generally expect huge returns in a short time. This is easier when the coin has a small market capitalization. After all, with less liquidity in the market, increased buying pressure can result in rapid growth. We looked into the market capitalization of each coin before including it on this list.

How to Buy Solana Meme Coins

The following is a step-by-step guide to buying meme coin Solana tokens.

    1. Get a crypto wallet that supports Solana-based tokens. Hot wallets compatible with Solana meme coins include Solflare, Phantom, and Torus.
    2. Deposit funds into your wallet by transferring other cryptocurrencies to your Solana wallet. Ensure you have enough funds to cover the transaction fees.
    3. Choose a cryptocurrency exchange that lists the meme coin you’re interested in.
    4. Sign up for an account on the chosen exchange.
    5. Transfer funds from your Solana wallet to your exchange account.
    6. Purchase SOL on the exchange using the funds in your account.
    7. Place a buy order for the amount of the Solana meme coins you wish to acquire.
    8. If you’re planning on holding on to the meme coins for a while, you should withdraw them to your Solana wallet for added security.

Why Buy Solana Meme Coins vs. Other Meme Coins?

Some of the perks available to Solana ICOs and meme coins are low fees, fast transactions, and the ability to scale thousands of smart contract movements per second. In this section, we explore why meme coin investors are turning to the Solana blockchain.

Lower Gas Fees

Solana gas fees are significantly lower compared to Ethereum. Transactions on Solana typically cost fractions of a cent, often less than $0.01, even during periods of high network activity. This is due to Solana’s high throughput and low transaction fees, making trading with SOL on exchanges such as Raydium very cost-effective.

Ethereum gas fees can vary widely depending on network congestion. During peak times, transaction fees on Ethereum can be significant, often ranging from $10 to $30 or more per transaction.

Even during less congested periods, fees typically range from $0.50 to $2 per transaction. These high fees are due to Ethereum’s limited scalability and high demand for transactions, resulting in bidding wars for block space.

Solana’s low transaction fees make it an attractive option for users looking to avoid the high costs associated with Ethereum’s network congestion.

Faster Transaction Speeds

The Solana blockchain is able to handle approximately 65,000 transactions per second. For reference, Ethereum can only handle 15-16 transactions per second. That’s why its fees are often high. This makes the Solana network ideal for meme coins, as transactions are processed quickly and at low fees.

Solana Is Booming

In recent times, Solana has become a breeding ground for sensationally popular meme and altcoins such as dogwifhat, Bonk, Slerf, and Smog.

These meme coins, characterized by their playful branding and driven by the passion of the communities behind them, have garnered substantial traction within the Solana ecosystem.

Conclusion: Which Is the Best Solana Meme Coin to Buy in 2024?

Sealana is the best Solana meme coin to buy in May 2024. This new cryptocurrency’s illustration features a lazy American seal who decides to trade cryptos to leave his mom’s basement. $SEAL is available to buy on presale.

Visit Sealana

FAQs

What is a Solana meme coin?

Solana meme coins are cryptocurrency tokens created on the Solana blockchain network. These coins are typically focused on hype, FOMO, and speculation rather than real-world use cases.

What coins are based on Solana?

More than 200 coins are built on the Solana network, including Audious, Bonk, Arweave, Coin98, and Raydium.

What are the best meme coins on Solana?

Some of the best meme coins on Solana include Sealana, Dogeverse, Sponge V2, Smog, Slothana, Lucky Boo, and Bonk.

What is the Solana meme coin called?

Although not the original Solana meme coin, one of the most recognized is Bonk.

References

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

About the Author


Sergio Zammit

Sergio is an expert on cryptocurrency gambling at Cryptonews.com. He has written extensively about sports betting with cryptocurrencies for outlets like Sportslens and The Sports Daily. Specializing in crypto casino content, particularly roulette, poker, and blackjack, Sergio provides thorough, fact-checked reviews of gambling sites for Cryptonews. He also covers crypto gambling bonuses, game guides, and emerging trends like Telegram gambling. Sergio holds degrees from the University of Malta and the University of Leicester.



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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Memecoins

Crypto: the new generation Memecoin Borpa arrives in Stakeland!

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Crypto: the new generation Memecoin Borpa arrives in Stakeland!

In the ever-changing world of crypto, a new star has been born: BorpaToken ($BORPA). Featured on Stakeland, this next-generation memecoin promises to revolutionize the market with its playful and deflationary approach to finance.

The $BORPA crypto meme is coming to Stakeland!

Stakeland is an innovative social staking platform that strengthens the Memeland ecosystem and promotes growth of memecoins. By allowing users to stake $MEME and other cryptocurrencies, Stakeland provides a unique opportunity to earn tokens from promising new projects at minimal costs. With significant anti-bot measures to ensure fair distribution of $MEME rewards, Stakeland positions itself as a key player for investors looking to engage in the dynamic world of memecoins.

Landing on Stakeland, $BORPA will merge its speculative nature and cult appeal to generate even more interest from the crypto community. With its charming memes and innovative gameplay, BorpaToken will provide a unique and engaging experience to users.

The start of farming on Stakeland is scheduled for Wednesday, June 19, 2024! Marking the start of a new era for memecoin investors and enthusiasts. Participants are invited to bet their $MEME on Join the adventure and take advantage of the opportunities offered by $BORPA from day one.

Borpa continues to revolutionize the world of memecoins

BorpaToken is positioning itself as a strong bet on the future of memecoins, outpacing other crypto niches as the industry evolves from technology to culture. With 41% of the supply reserved for mining liquidity incentives spread across five chains, BorpaToken is poised to set new standards in the memecoin space.

The whitelist campaign has already generated considerable buzz, distributing 4,180 “golden tickets” with a $200 allocation to members and key partners to maximize attention around the launch. This approach ensures widespread engagement and gives everyone a fair chance to secure early investment opportunities in the $BORPA token. This winning strategy saw allocations reach $65 million! Well beyond the $220,000 the BorpaToken team hoped to raise from preferred holders. This almost 300% explosion shows the community’s confidence in $BORPA.

In conclusion, BorpaToken, $BORPA, is much more than just a memecoin; it is a promise of financial entertainment and potential gains in a market seeking freshness and innovation. With its imminent launch on Stakeland and its multiple blockchains, as well as the start of farming, $BORPA is ready to capture the imagination of investors and establish itself as a major player in the crypto scene in 2024.

Maximize your Cointribune experience with our “Read to Earn” program! Earn points for every article you read and access exclusive rewards. Sign up now and start earning benefits.

Click here to join “Read to Earn” and turn your passion for crypto into rewards!

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Cointribune endeavors to provide its readers with all relevant information available, but cannot guarantee its accuracy or completeness. Readers are urged to make their own inquiries before taking any action regarding the Company and to take full responsibility for their decisions. This article does not constitute investment advice or an offer or invitation to purchase any products or services.

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Memecoins

BOME and Meme Coin Offer Reverse Entry with Breakout Chances

TokenTalk Staff

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As overall market conditions are more volatile than ever, the bullish trend of meme coins is taking a hit. However, low-cap meme coins like BOME and MEME show a possibility of recovery from crucial support.

With the rally momentum and breakout chances, will these even low-cap meme coins lead to a bull run next week?

BOME reversal to $0.00882

With a morning star pattern at $0.0082, the BOME price trend presents a positive cycle chance in the daily chart. The Book of MEME coin showed a 5.42% price rise last night at the crucial support level.

Trading View

Additionally, the daily BOME price chart shows a downward trend, forming a resistance trendline. This bearish phase forms a descending triangle pattern, keeping the bullish growth in check.

Currently, the meme coin is trading at a price of $0.0087 with an intraday decline of 1.55%, reflecting intraday weakness. However, the daily RSI line shows bullish divergence during the recent declines at $0.0082.

With some optimism, a reversal rally can reach the overhead resistance trendline by surpassing the $0.010 mark. A trendline breakout rally can reach the $0.0188 mark.

MEME Coin Price Breakout Rally Eyes $0.025

With a downtrend in motion, MEME coin price action is showing a falling wedge in the daily chart. The falling wedge trend is observed in several altcoins under current market conditions, suggesting a pullback phase. However, the recent overnight jump hints at a positive cycle within the trend.

Trading View

Currently, MEME price is trading at $0.01943 with an intraday decline of 1.86%, following last night’s 7.58% jump. The overnight jump formed a morning star pattern at the crucial support trendline, revealing strong chances of a reversal.

Considering the reversal momentum, the meme coin price may challenge the overhead trendline near $0.025. Additionally, a bullish rally can cause prices to rise to the psychological mark of $0.050.

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Memecoins

DEGEN ranks #2 in Memecoin metrics despite notable drop in value » The Merkle News

TokenTalk Staff

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DEGEN ranks #2 in Memecoin metrics despite notable drop in value » The Merkle News

DEGEN recently achieved an impressive ranking, securing second place in various on-chain metrics for memecoins.

This includes the number of traders and the number of transactions, placing DEGEN just behind the popular Dogecoin (DOGE). This is particularly notable given that DEGEN’s market capitalization is only 0.79% of that of Dogecoin.

Despite this success, DEGEN experienced a significant drop in value. Over the past 24 hours, its value has fallen by 11%, contributing to a total drop of 27% over the past seven days.

On-chain data reveals that Whale 0x7be offloaded all 40.21 million DEGEN tokens, worth approximately $429,000, in exchange for 122.8 ETH at an average price of $0.01092 per token.

DEGEN Whale posts notable loss after sale

Interestingly, this whale initially acquired the DEGEN tokens with 300 ETH, valued at $891,000, at an average price of $0.0222 each on April 14, 2024.

This recent sale resulted in a substantial loss for the whale. After selling the tokens, the whale recorded a loss of 177.2 ETH, which equates to approximately $639,000, a four-month decline of 59.1%.

Fluctuations in DEGEN’s value highlight the volatility inherent in the memecoin market, even though the token generates significant trading activity and trading volumes.

Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service.

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Image source: jtdee23/123RF // Image effects by Colorcinch



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Memecoins

The end of Memecoin euphoria, room for solid projects

TokenTalk Staff

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The end of Memecoin euphoria, room for solid projects

Tue June 18, 2024 ▪ 3 min reading ▪ by Fenelon L.

The crypto market is experiencing a significant correction, with a particularly pronounced decline for memecoins. As investors look to stronger assets, are we seeing a paradigm shift in the sector?

The Memecoin debacle

THE crypto market recorded a 3% decline over the past 12 hours, with total capitalization hitting its monthly low of $2.48 trillion. However, memecoins suffered the most, with double-digit losses for most of them.

Kyle Chassé, Bitcoin pioneer, Underlines on X the speed at which investors turn away from these speculative assets. He calls this movement a “flight to quality,” where traders now favor crypto assets with a clear function or purpose.

According to CoinGecko, the market capitalization of memecoins fell by 14%, to $48.8 billion. The MAGA TRUMP coin was hit the hardest with a 34% drop, while others like dogwifhat, Brett and Book of Meme also saw losses of over 14%.

Even industry leaders like Dogecoin, Shiba Inu, and Pepe were not spared. Only the Runes-based token DOG-GO-TO-THE-MON has managed to stay in the green over the past seven days.

A widespread correction

While memecoins are the most affected, the decline affects the entire altcoin market. Solana lost 7%, falling to $132, while Cardano fell 7.8% to $0.37.

Other assets like Avalanche (AVAX), Uniswap (UNI), Internet Computer (ICP), and Near Protocol (NEAR) also suffered. Bitcoin, meanwhile, has found support around $65,000 but remains stuck in a sideways channel for three and a half months.

This generalized correction at this stage calls into question the idea of ​​a “flight towards quality”. Nonetheless, the steeper decline in memecoins could be a sign of a change in mindset among investors.

After a period of speculative euphoria, the market seems to be maturing and looking for projects offering real added value. Only time will tell if this trend continues or if the appetite for risk will take over.

The memecoin debacle could mark a turning point for the crypto industry. While investors seem to favor more solid assets, it remains to be seen whether this “flight to quality” will be confirmed over time.

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Fenelon L. avatarFenelon L. avatar

Fenelon L.

Passionate about Bitcoin, I like to explore the intricacies of blockchain and cryptos and I share my discoveries with the community. My dream is to live in a world where privacy and financial freedom are guaranteed for everyone, and I firmly believe that Bitcoin is the tool that can make this possible.

DISCLAIMER

The views, thoughts and opinions expressed in this article belong solely to the author and should not be considered investment advice. Do your own research before making any investment decisions.



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