Memecoins
Expert Reveals Top 7 Solana Meme Coins To Watch In Hopes Of ETF Approval
Solana-based meme coins have become notable competitors in the cryptocurrency market, outperforming largest cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) in recent months.
With parts like Bonk Inu (BONK) has soared nearly 7,000% since the start of the year, with potential approval of Solana ETFs filed by asset managers VanEck and 21Shares in the United States seen as a potential catalyst for the tokens, according to market expert Leshka.
In a recent analysisLeshka explained that Solana memes have become the dominant narrative of this market cycle, raising expectations for their potential growth following a possible approval of the Solana ETF market by the U.S. Securities and Exchange Commission (SEC).
Top Solana Meme Coins to Watch Out For
Leshka began by describing the cat-based meme coin POPCAT, which has seen a 55% price increase over the past two weeks.
Currently trading at $0.448, POPCAT is the 4th largest meme coin on Solana with a market cap of $441 million. Leshka considers it one of the most relevant mid cap memes on Solana, highlighting a “strong community” despite a lack of intrinsic value.
Next, Leshka highlighted the MICHI token, another cat-based meme coin in the Solana ecosystem. According to the analyst, the upcoming launch of MichiSwap, Michi non-fungible tokens (NFTs), and the Michi NFT marketplace could catalyze further price increases for MICHI in the coming months.
Bonk Inu, another meme coin that has gained considerable attention in recent months, was also mentioned by the analyst, seeing a 20% surge. price increase over the last fourteen days, is currently trading at $0.00002413.
Leshka highlighted how Bonk Inu, which originally supported the Solana community, has expanded its user base and integrated with decentralized finance (DeFi), cross-chain messaging protocols, and NFT marketplaces as key elements of its growth prospects, positioning Bonk Inu as another meme coin with the potential for further gains.
Political Coins
Continuing, Leshka highlighted Dogwhifhat (WIF), currently the leading Solana-based meme coin by market cap, which has accumulated over $1.6 billion in record time.
Leshka believes that Dogwhifhat “symbolizes progress in futuristic transactions” and is a beacon for “forward-thinking individuals.” Nevertheless, the token has seen a sharp rise price drop within a monthly period of almost 40%.
Finally, the analyst highlighted political memes based on the Solana ecosystem, particularly those related to American politicians, which have gained popularity in the run-up to the upcoming November elections.
Leshka called OBEMA, a meme coin featuring Michelle Obama, a “risky play” with no intrinsic value or anticipated financial gain. However, the analyst noted the potential for a 10x to 20x return if Joe Biden leaves office. presidential race.
Leshka also discussed BODEN, a cryptocurrency meme featuring Joe Biden. While its popularity has waned, an “unexpected event” in the race for the White House could give it a final boost, especially if the president manages to win the November election.
Solana’s native token, SOL, was trading at $138.70 at the time of writing, down more than 13% month-over-month but up 540% year-to-date.
Featured image of DALL-E, chart from TradingView.com