While Dogwifhat WIF/USD has taken the spotlight as a standout performer in the current memecoin rally, other Solana SOL/USD memecoins have shown impressive gains in recent weeks.
What Happened: The Solana blockchain has been in the limelight for some time now, driven by the performance of its memecoins such as Bonk BONK/USD, Myro MYRO/USD, Anita Max Wynn WYNN/USD and Dogwifhat.
The Solana network breached a significant threshold in December 2023, reaching $121. Currently, it stands at $112, surging past its April 2022 peak.
Solana’s total value locked increased to $2.2 billion as of Feb. 28, 2024, compared to $1.97 billion as of Feb. 21, 2024, according to DeFiLlama data.
Outperforming Memecoins: Among the standout memecoins on the Solana chain, Dogwifhat, Anita Max Wynn, Myro and Bonk have shown remarkable performance in the past 24 hours.
Anita Max Wynn: The token gained 78% in the past 24-hour trade, with trading volumes expanding by 151.3%. "Memecoin Degen" MrPunk.eth tweeted, "The real fun and fomo gonna begin once we break 10M."
Myro: In the past 24 hours, the token surged 27.2% with trading volume rising 116.7%. On X, Crypto Alice indicated Myro and Bonk are ready to surge. The tweet also said, “Solana whales are sleeping, once they wake up, they will send it hard.” Crypto Zeus weighed in with the tweet: "#MYRO Chart Looking Very Exciting."
Bonk: With a market cap of $1 billion, Bonk witnessed a 13% rally in the past 24 hours, coupled with a 60% expansion in volumes. The token fourth among the top memecoins by market cap list. Zoomer Oracle, tweeted, “If that’s the case, I could see $BONK following parabola move of pepe.”
Why It Matters: An interesting take by a trader, Pattylce, noted how they had been in memecoins on Solana since December and believed:
- Influencers get supplies to promote and just slowly dump them on investors.
- Developers are too lazy to put more than 2-3 days of work after launch.
- Cult-like communities where everyone who contributes is king.
The post also highlighted the Dogwifhat community wouldn't fade away and Bonk was the community where developers work overtime.
Pattylce did add, “Just know the odds are tremendously against you overall and majority the of the game is rigged.”
Read Next: Bitcoin Crosses $60,000: Is The Crypto Winter Officially Over?
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