Memecoins
Dogwifhat and BOME fall as traders switch to new meme coin Solana
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Solana meme coins led the charge in this bull run as degens moved from Ethereum and BNB to Solana, which offers lightweight trading and low transaction fees.
The market cap of Solana meme coins now stands at over $8 billion. However, over the past 24 hours, the price of major Solana meme tokens has declined. BOOK OF MEME and dogwifhat both fell almost 10%. Investors have started casting their nets for the next big Solana coin to go viral, and for a seal-themed project, Sealana (SEAL)caught their attention.
Dogwifhat Falls After Whale Moves Trigger Volatility
Dogwifhat, a Solana-based coin, has been a star this year after its launch in November 2023. Initially listed on DEXs for $0.000001366, it quickly climbed to $0.0352 by the end of 2023, i.e. an increase of 23 million percent. By March, it had surpassed the $4 mark and early investors enjoyed huge returns on their investments.
Since then, the token has struggled to regain March highs due to high price volatility. We have seen lows of $2.40 and highs of $3.50 several times in recent weeks.
Two days ago, Dogwifhat saw a big price hike from $2.80 to over $3.20 after two major buyers spent over $2 million. However, this price rise was short-lived when a whale sold $2.36 million worth of WIF.
This started a downward spiral and the token is currently around $2.75 after a drop of 105 since yesterday.
BOOK OF MEME struggles to return to previous highs
BOOK OF MEME (BOME) saw similar price movements over the past day, dropping 9.24%. Like dogwifhat, BOME experienced a meteoric rise after its launch. It was listed on Raydium in March at a price of $0.0001341. Two days later, the token was valued at $0.0238, an increase of 21,000%, and had reached a market cap of $1 billion.
Although it is a relatively new token, BOME has already been listed on KuCoin, Gate.io, MEXC, and Binance. It has attracted both crypto whales and ordinary investors, with one crypto whale holding Worth $10 million from BOME.
However, it is now struggling to reach previous highs and its market capitalization is just over $800 million. The token fell by almost 10% in the last 24 hours to a value of $0.01212.
With this drop in major Solana coins, the time could be right for a newcomer to steal the spotlight. Some traders have high hopes Sealanaa new pre-sale which should replicate the success of Slothana.
Traders eye Sealana presale
Sealana is a promising new coin on the Solana blockchain that has attracted the attention of crypto enthusiasts and meme lovers. The project follows an overweight redneck seal in search of the next big Solana coin.
Although the project only recently launched, it has already raised over $2.5 million during its pre-sale. Many are making comparisons between SEAL and Slothana, a Solana presale that raised over $15 million and was listed on major exchanges like HTX Global.
Currently, the token costs just $0.022 per SEAL token and can be purchased using ETH, SOL, USDT, and USDC.
Like Slothana, which recently reached a new ATH after a successful ICO, the presale has an air of mystery, which has helped generate hype around this token.
To find out more about this project, visit the Sealana pre-sale site.
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