As it gets into 2024, the Solana blockchain has seen a surge in meme coin creation and presents numerous investment opportunities. Here, the article will guide you through the most outstanding Solana meme coins.

An Overview of Solana Meme Coins

Overall Growth of the Solana Ecosystem

Solana blockchain is growing tremendously and dominating most the industries like finance, gaming, and art. The growth is fueled by its expanding dApps and rich user and developer communities.

At the very core of Solana lies the infrastructural strength needed to scale in answering fast-rising demands from DeFi and NFT spaces. High processing capacity, low transaction fees, and great scalability have set it apart as one of the leading platforms, thereby setting up the pace for further blockchain innovation.

At the moment, the total value locked within the Solana blockchain has reached more than $12.1 billion. This is a number that accounts for the rising popularity and activity within the DeFi ecosystem in Solana. Even though some participants are deciding to sell their SOL holdings, the general outlook for Solana is one of appreciation. One of the fundamental points of cryptocurrency—its backing community—has been very awake and continues to support further growth and development at hand.

Read more: Top Solana NFT Collections In 2024

What is a Solana Meme Coin?

Meme coins are that sort of cryptocurrency that may be driven by internet memes or trending topics. The coins in the category basically happen to be very volatile and naturally very speculative. In the light of the same, Solana meme coins happen to be created in the sake of humor or reference to pop culture in most cases.

Advantages of Solana Meme Coins

Solana stands out against the competition in the blockchain space, offering incredible speed and cost efficiency. Because of these features, it becomes extremely friendly to meme coin projects. With the possibility of high transaction throughput and low fees, Solana offers a perfect environment to create and manage decentralized applications. Its scalability and comprehensive ecosystem provide infrastructure necessary for Solana meme coins and make their use cases utilize this efficient and cost-effective framework.

Read more: Top Notable Solana Bridges In 2024

Top Solana Meme Coins to Watch in 2024

Here are top 8 Solana meme coins according to market capitalization:

1. Dogwifhat (WIF)

Dogwifhat will surely be in the top rung of Solana meme coin contenders in 2024. It is just so much lighter when it comes to cryptocurrency and lacks the seriousness of many projects in the blockchain space, featuring the comical design attired canine.

It literally is a dog in a hat, says the website, and Dogwifhat does not fail to live up to its light-hearted nature as a part of the Solana meme coins.

Symbolized by the endearing Shiba Inu mascot in a weirdly familiar-looking pink knitted hat, Dogwifhat excels at being light-hearted and full of fun, entirely in the spirit of playful Solana meme coins—not those coins focused either on technologies or great social impact.

Since it launched in late November 2023, Dogwifhat has seen huge success. Being just an entertainment token with no real practical utility has held up to great heights, as reflected in its strong trading volumes and rising market capitalization.

2. Bonk (BONK)

Bonk (BONK) developed into one of the biggest stakeholder forces within the Solana meme coin system and, to many people, represents an example of success which other projects are gunning to dominate in this particular crypto niche. Immediately following the January 2023 launch, Bonk was already being watched with over 4,000 percent staked in returns for the first week. This performance has been so stellar that it drew comparisons with already established meme coins like Shiba Inu and Dogecoin, thus establishing Bonk as a player in the crypto community.

What stands out, however, among the compelling features of Bonk is its airdrop strategy. In a drive to ensure participation and stir up interest in the token, 50% of the total BONK supply was airdropped to the Solana community. So far, it has managed to bring in tons of excitement; in fact, it contributed to the massive surge in the price of the Solana native token, SOL.

The primary purpose of BONK is to provide more liquidity on DEXes that are built on Solana. When developing the token, the development team envisioned BONK to be a community-oriented token to integrate with a number of decentralized applications within the Solana ecosystem.

Bonk’s distribution strategy involved random airdrops to Solana NFT collectors, developers, and artists. The details of how this airdrop worked remain a little cloudy, but the fact of the matter is that it has made its mark—evident through its active Twitter presence and growing influence. Of all the Solana meme coins, by 2024, BONK stands out at the top and has become representative of the power brought about in innovation by communities in the blockchain space.

3. Popcat (POPCAT)

It has been the only gospel on the Solana blockchain: Popcat (POPCAT), a meme coin inspired by the very famous internet sensation ‘Oatmeal.’ The coin derives its charisma from the face cat character that comes in two different facial expressions, creating a “pop” sound effect with every toggle.

Popcat is a coin focused on simplicity and decentralization and was launched on the Solana network. It has a total supply of 979,978,694 tokens; over 93 percent of the tokens are in its liquidity pool. Hence, such strategic allocation underlines its commitment to stability and access to a digital coin.

Popcat has been doing tremendously well on the market. It increased from only $200,000 in market capitalization to the staggering amount of $807 million today. A swing such as this further cemented Popcat’s spot as the second-ranked Solana meme coin, only behind more established players like Bonk and Dogwifhat.

4. Cat in a Dogs World (MEW)

Having launched in March 2024, Cat in a Dogs World (MEW) is one of the most outstanding players in the meme coin space and is looking to challenge the dominance of dog-centered digital assets. This creative coin, working on the Solana blockchain, started drawing massive attention almost instantly, with a unique narrative behind its emergence and strategic tokenomics.

It’s the unique general theme that makes “Cat in a Dogs World” special—it’s just that the world, which gets bombarded with dog-related memes most of the time, appreciates cats. This storyline is bound to the native token, MEW, symbolized by a white cat confidently strolling through a universe of dogs.

Noticeably, strategic decisions have contributed to the exponential rise of the coin. Close to 90% of the MEW liquidity pool has been burned to reduce the supply and enhance its scarcity, with the remaining 10% reserved for community airdrops.

What’s more, the market presence of the coin will be hugely pumped into the near future with the recent agreement sealed with LOCUS, which will see the production of a 3D animated series.

5. Book of Meme (BOME)

The Book of Meme (BOME) makes a real difference in the cryptocurrency world, placing itself right there as one of the top meme coins to watch in 2024. Launched in March 2024, BOME saw huge interest and surged to a market capitalization of over $1 billion within two days of its launch.

The exceptional trait about BOME is how it brings together memes with decentralized storage solutions, which makes it different from other cryptocurrencies. One vision of the project is to create a digital repository that uses blockchain technology for the preservation of internet memes.

At the heart of BOME is the vision of creating a decentralized library of memes. In this digital repository, a permanent archive is envisioned to be created, where blockchain will ensure integrity and availability for meme content. It aspires to provide a decentralized magazine connected to BOME, complete with metadata and a number of links to the image location hosting on decentralized platforms such as IPFS and Arweave.

BOME has experienced exciting, rapid, and highly volatile growth in its financial journey. Immediately after it started trading, the coin became part of the top 100 cryptocurrencies according to market capitalization, thereby making the coin one of the coins that gained big and fast in popularity and adoption. During its pre-sale phase, the coin increased a stunning 44,000%, thus reflecting highly speculative interest and investment from the crypto community. Currently, the market capitalization of BOME stands at around $610 million despite all the initial hype.

6. PONKE (PONKE)

PONKE (PONKE), the new Solana meme coin, made a name for itself due to its intuitive design and user-friendly aspects. From professional cryptocurrency veterans to the newest of newbies, the launch in and of itself finds interest with users.

The most exciting part is that PONKE is pegged to the Solana high-performance blockchain, through which transaction times are very fast and the fees close to zero. It forms a powerful feature mix that extends the best trading experience to users and places PONKE as a very viable choice for everyday transactions.

Since its launch, PONKE has demonstrated the most impressive growth. Within 24 hours after the coin had hit the market, the digital currency had already attracted 10,000 users—a number that simply showed its great appeal on the market.

7. Billy (BILLY)

Billy (BILLY) is a Solana meme coin with the image of an adorable puppy. BILLY claims to be the cutest memecoin in the ecosystem and has a mission to bring joy and excitement to the cryptocurrency market.

BILLY is not intended to revolutionize any field or solve specific problems. Instead, the project focuses on creating a sense of community and joy among the holders.

Thanks to these factors, BILLY quickly attracted the community’s attention, growing more than 800% from a price of $0.024 and reaching an ATH of $0.197 in just 2 short weeks. At the same time, this Solana meme coin has also been listed by centralized exchanges (CEX) with a capitalization of approximately $150 million.

8. Michi (MICHI)

Michi (MICHI) is a cryptocurrency born out of meme culture and powered by Solana. It was designed for trading and investments in the crypto market, evidencing several ways in which users can engage.

But beyond trading, Michi still sees a community-driven approach. It touts the fact it can stay transparent and focused on financial empowerment for the users. With Michi, early adopters are given the chance to be part of a dynamic movement with what could amount to large financial rewards attached.

Read more: Top Solana Explorers You Should Know

How to Buy Solana Meme Coins

Buy Solana Meme Coins on a CEX

Centralized exchanges are among the most convenient ways to trade cryptocurrencies, including the Solana meme coins. Popular centralized exchanges that can be utilized in acquiring Solana meme coins include Binance, OKX, Bybit, and KuCoin.

You only have to open an account with any of them, fund your wallet, look for the Solana meme coin that you want to buy, and go ahead with the purchase.

Buy Solana Meme Coins on a DEX

If you’re into decentralized ways, Solana ecosystem has also a good number of decentralized exchanges where users can trade their Solana meme coins directly from their wallets. Some of the top popular Solana’s DEXs currently are Jupiter, Raydium, or Orca.

Phantom Wallet

Phantom is one of the most popular wallets in the Solana ecosystem. Phantom Wallet will provide you with one of the best ways in which you can process and trade Solana meme coins with the user-friendly interface.

Read more: Best Solana NFT Marketplaces In 2024 You Should Know

Why Are Memecoins Growing in the Solana Ecosystem?

Here’s why Solana seems to be the go-to option over Ethereum when it comes to launching or trading meme coins.

Low-Cost

One of the major reasons for developers and investors flocking to Solana is its dramatically lower transaction fees. If Ethereum’s gas fees run in excess of $10, depending on network congestion, they are sure to turn off casual investors looking to invest modest sums in meme coins. In contrast, Solana offers an average transaction fee of just $0.00025, making it all the more cost-effective.

Scalability and Performance

The other critical advantage that Solana has over Ethereum is in the scalability department. Although Ethereum’s network is robust, it was only able to handle just a bit over one million transactions per day, equivalent to about 12 transactions every second. In contrast, Solana processes as many as 65,000 transactions per second.

That kind of performance is way above traditional payment systems such as Visa, which processes up to 24,000 transactions per second. High throughput means that meme coin transactions are done at a faster rate on Solana without a single lag. Consequently, this offers high volumes of activities to be accommodated at any particular time.

Innovative Capacity and Community Support

Solana architecture has a nature that encourages innovation. The platform possesses an easy-going community and robust tools that are appealing for imagination and experiments. With the continued support rendered towards new and innovative projects, Solana has been able to attract different categories of creators and investors who keep working on this platform.

Staking Rewards

In fact, the mechanism of staking Solana in proof-of-stake only raises this layer of appeal. Meme coins built on top of Solana may be able to offer a staking reward to holders, hence an incentive for users to have and support such tokens.

Read more: Top 6 Solana Native Projects By Category

Conclusion

In general, the Solana meme coin ecosystem offers a special fusion of technological innovation, a strong sense of community, and the possibility of high-risk, high-reward investment options. Still, Solana has a lot of potential and can be better than other meme coin ecosystems like Ethereum.

FAQs

Is Solana a meme coin?

No, Solana is a blockchain known for its high speed and performance. SOL is Solana’s native token and is widely used in the ecosystem, it is not a meme coin.

Which Solana meme coin to buy in 2024?

With the list we have given, you can consider Dogwifhat (WIF) and Bonk (BONK). These two meme coins have certain prominence and strong communities, and their growth is also very stable.

Where to look for a reliable list of meme coins that are built on the Solana network?

You can refer to CoinGecko or CoinMarketCap, pay attention to the trading volume and long-term growth of meme coins. In addition, forums on Reddit or Telegram communities can also help you learn about some reputable Solana meme coins.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.