Solana Meme Coin Surges
BOME quickly gained traction among the Chinese and British communities. The pre-sale generated an unexpected 10,131 SOL, far exceeding Darkfarms' expectations of 500 to 600 SOL. The overwhelming response led to a subsequent community vote on allocating pre-sale funds.
After the pre-sale ends, Darkfarms will integrate the funds raised into the liquidity pool and set the initial price of BOME at $0.0000496. A large purchase order for 100 SOL created a highly liquid market, causing the price to peak at $0.0012. The surge subsequently increased the coin’s market capitalization to $375 million.
With the rise of BOME, several exchanges including BitMart and HTX have stated that they will list the asset. Bitmart later confirmed the Altcoin’s initial listing and offered an initial USDT trading pair.
"BitMart is pleased to announce that BOOK OF MEME (BOME) will be listed for the first time on March 14, 2024... Deposit function: available... Trading pair: BOME/USDT," BitMart said.
Why Solana can swim upstream
BTC plummeted, why did Sol buck the trend?
1. Joining of SBF: SBF not only invested in Solana, but also led its team to develop the Serum project based on Solana, which greatly improved Solana’s popularity and credibility. Some people say that 70% of Solana’s TVL is supported by SBF’s team.
2. Success of hackathon projects: By hosting hackathons and providing various incentives, Solana has built a vibrant developer community. These developers have provided strong impetus for the development of the Solana ecosystem, giving birth to first-class projects such as Magic Eden, Stepn, and Jito.
3. Marketing means of wealth effect: Under the influence of SBF, Solana uses price increases to create a wealth effect, becoming a powerful marketing tool to attract developers and ecological projects. Despite the collapse of FTX and the sharp drop in price, Solana has maintained its developer ecosystem and community activity.
Through ongoing incentives and hackathons, Solana continues to improve its infrastructure and inspire the development of more innovative applications, further promoting the prosperity of the ecosystem. The development of the Solana ecosystem presents unique characteristics, especially in terms of differentiation from the Ethereum community, such as the collective migration of DeFi and NFT projects to Solana.
Solana’s bullies are in full swing, and BOME’s skyrocketing price is just the first microcosm of this.
Next, let’s take a look at other popular local dogs on the SOL chain.
$BONK
Bonk (BONK) was introduced to the market on December 25, 2022, and the token was developed to revitalize liquidity in Solana-based decentralized exchanges (DEX). Developers envision it as a comprehensive community token that can be used across all decentralized applications (dApps) built on Solana.
The total supply of BONK is approximately 100 trillion. To engage the Solana community, 50% of the total supply is airdropped to Solana users, including artists, creators, and active community members. The strategy aims to foster a strong and active community around the token.
BONK has been listed on several mainstream exchanges such as Binance and Coinbase. Its performance since its listing has been impressive. Today, its market value exceeds US$2 billion, making it the 59th largest token.
$WIF
WIF (full name dogwifhat) became popular after the BONK trend. After its launch on Thanksgiving Day in 2023, it achieved a 10,000-fold increase in less than 4 months, becoming the fastest-growing hat dog token in the history of Solana.
The meme quickly became a symbol of community and solidarity, especially among gamers and internet celebrities, leading to the image's widespread adoption as a profile picture on social media. Taking advantage of this popularity, dogwifhat officially created the $dogwifhat coin, not only to celebrate the cultural impact of the meme, but to introduce a new form of digital collecting and investing, backed by a unique token economic structure , a structure that emphasizes philanthropy, team support, and liquidity provision on Uniswap, designed to ensure long-term growth and community engagement.
WIF is currently basically listed on mainstream exchanges, with a total issuance of 999 million. It has increased by more than 56% in the past seven days, with a market value of more than 3.2 billion US dollars, and has climbed to 40th in the market value rankings. This once unknown “hat dog” currency is now even expected to enter the MSG Sphere, a ball theater in Las Vegas.
$SMOG
SMOG is a dragon-themed token on the Solana blockchain. It debuted on Jupiter DEX in early February this year and immediately soared by more than 3,000%. SMOG aims to surpass popular meme tokens such as Bonk, WIF and PEPE. Relying on its unique community operation model, the coin attracted a large number of users in a short period of time and became a new star in the meme currency world.
Having a novel community reward mechanism is one of the reasons why SMOG can become strong. SMOG has introduced staking and multi-chain functions, and can provide an annualized return on staking of 42% - an interest rate that is much higher than other platforms to encourage long-term holding. The price of SMOG has declined in the past 7 days, with an increase of 403% in the past 30 days.
$MYRO
MYRO is a meme coin named after Solana co-founder Raj Gokal’s pet dog that dreams of redefining the narrative of meme coins on the Solana blockchain.
As a community-driven project, MYRO strives to make cryptocurrencies easy and enjoyable for everyone. The project embodies the spirit of revolution and is designed to be simple, safe and accessible.
Since being deployed on the Solana mainnet on November 11, 2023, MYRO has continued to hit new highs, with an increase of 321% in the past month.
In addition, PENG, PONKE, POPCAT, SILLY, etc. are also meme coins that have performed well in the Solana ecosystem recently.
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