Top 10 Solana-Based Meme Coins to Watch in 2024

Solana made waves by surpassing Ethereum in transaction volume in early 2024, further cementing its strong foothold in the crypto industry. Solana’s unmatched speed, low-cost transactions, and cost-effective consensus algorithms have raised the blockchain’s popularity across the globe. Today, Solana sits comfortably at the $81 billion market cap, surpassing the previous all-time high established in the 2018 crypto bull run. 

With such promising numbers, the Solana ecosystem has become a destination on which numerous crypto projects can base their technology. 

The list of Solana-based meme coins is expanding rapidly and experiencing one of the most significant bull runs in the sector’s young history. If you are exploring the best meme coins to watch on Solana, here’s a list of promising candidates. 

Key Takeaways

• Solana has become a go-to network for the ongoing resurgence of meme coins. 
• Dogwifhat, Bonk, and other new meme coins are emerging as serious candidates for investors. 
• To make an appropriate choice in the meme coin landscape, it is crucial to stay in the loop of daily developments in the crypto scene. 

Understanding the Meme Coin Market and Culture

Before analyzing all Solana meme coins that lead the market, it’s crucial to understand why the Solana meme coin ecosystem became so expansive and how it could maintain this healthy growth pace. Meme coin projects started in 2013 when Dogecoin entered the scene with its unconventional value proposition and heavy emphasis on its lighthearted nature. 

Dogecoin had no intentions of becoming a global sensation or creating a popular meme coin industry; however, in several months, Dogecoin reached unprecedented heights, creating a $9M market capitalization seemingly out of nowhere. 

Soon, the market realized that crypto projects emphasizing cultural entertainment, experimental products, and fast P2P transactions had massive potential. Soon after Dogecoin’s global success, the meme coin landscape emerged as a significant player in the crypto niche. 

Projects like Shiba Inu, Pepe, Dogwifhat coin, and Bonk coin have closely followed DOGE’s footsteps, creating tokens that run on efficient blockchain networks and cater to the demands of the alternative crypto market. 

Unsurprisingly, Solana’s speed, efficiency, low costs, and proof-of-stake algorithm have attracted most meme coin developers. Today, Solana stands tall as the go-to network for the most popular meme coins emerging on the market. 

Fast Fact

Solana’s average transaction speed is 65,000 TPS, making it by far the fastest network available in the Blockchain field.

Top 10 Solana-Based Meme Coins List You Should Consider

The growing Solana meme coin space has become a sensation in the crypto field, combining the optimal Solana ecosystem with the inventive and unconventional approach of top meme coins. So, let’s explore the potential meme coin titans that could be on the brink of a breakthrough.

1. Dogwifhat (WIF)

WIF coin is by far the most stable and sustainable meme out of the new wave of emerging tokens. Moreover, Dogwifhat has already established itself as a confident number four on the list of top meme coins, amassing an impressive net worth of over $3 billion. 

Over the last three months, the WIF token has showcased sustainable growth metrics, but it has not shown any signs of slowing down or experiencing significant resistance levels. While some traders speculate that WIF is bound to slow down at some point, the ongoing crypto bull run will most probably support this token for several months. 

2. Bonk (BONK)

Bonk is not far behind the WIF token, boasting a market cap of $1.6 billion and experiencing a massive surge in trading activities. Bonk is renowned for its community support and cross-chain functionality, allowing users to invest and utilize the Bonk token freely without interoperability limitations. 

Bonk has slightly fallen off due to experiencing resistance levels during its peak valuation in March 2024. However, this roadblock will not stand for long, as the dog-themed meme coin promises to continue climbing again. 

3. Book Of Meme (BOME)

Book of Meme coin has also showcased strong upside potential in recent months. BOME is a relatively new currency, being launched recently in March 2024. 

As of today, BOME is experiencing some troubles with maintaining its impressive debut numbers, but the corresponding trading volume of 1.5 billion dollars showcases the meme coin’s promising potential. Very few meme coins have cultivated such an active audience within days of their respective launch, making BOME an alluring investment opportunity in the meme coin market. 

4. Slerf (SLERF)

SLERF was introduced almost parallel to the BOME token, and launch problems were experienced due to the creator’s unfortunate mishap. SLERF’s creator accidentally burned $10 million in tokens, removing them from circulation and sabotaging the entire launch. 

However, SLERF managed to recover and is currently battling with the resistance point at the $0.8 valuation. This Solana-based meme coin had a lot going against it. Still, the general market sentiment and substantial trading activities have managed to salvage its poor launch and create a respectable market capitalization of almost $400 million. 

5. Wen (WEN)

As its name suggests, WEN was inspired by the popular Web3 meme that swept the internet in 2022. Using Solana Blockchain as its foundation, this trending meme coin aims to reinvigorate the Web3 movement by introducing an inventive governance model. WEN features an utterly democratic system of governance, allowing users to vote, exchange ideas, and create web3 projects within the ecosystem. 

Currently, WEN boasts an impressive market cap of $350 million, with its valuation climbing consistently during March. Some even believe that WEN could experience a significant bull run due to its strong focus on Web3, becoming the next big Solana meme coin to watch. 

6. Popcat (POPCAT)

Currently, POPCAT doesn’t look all that different from other meme coins, showing impressive signs of growth but failing to crack any top spots on the market. However, many meme coin investors believe that POPCAT could become an underdog story to look for. 

While many meme coins have reached impressive market cap figures and a respectable valuation, few have sustained it as long as POPCAT. As of late March 2024, POPCAT has managed to maintain its high valuation for over three weeks, exciting meme coin enthusiasts across the globe. 

7. Smog (SMOG)

SMOG was launched in February 2024, failing to attract significant valuation during its initial days. However, soon after its release, SMOG became one of the best meme coins on Solana, accumulating an impressive market cap of $139 million. 

As a result, SMOG became a fan-favorite out of the lesser-known meme coins, with some industry specialists believing it could head confidently to a $1 valuation. 

Currently, SMOG’s near-900 million-dollar trading volume is fascinating and signals a strong future uptick for the meme coin. However, time will tell if SMOG will be able to keep up with the trending Solana meme coins. 

8. Jeo Boden

Named after the acting president of the United States, Jeo Boden has firmly joined the list of trending Solana meme coins. Jeo Boden is an excellent example of a meme coin that drives its success strictly with meme culture. Jeo Boden doesn’t have any special utilities or strong suits, but it has managed to confidently outperform the general growth pace of the crypto market. 

Today, Boden is valued at $ 0.32 and promises to become Solana’s best underrated new meme coin. However, we have yet to see whether Jeo Boden breaks through the $0.4 resistance point and continues to defy market expectations. 

9. PENG

Despite its recent launch, PENG is another promising meme coin that found its home on the Solana network. Powered by Solana’s speed and efficiency, PENG managed to accumulate an impressive market cap of $ 24 million. 

PENG’s creative team swiftly shifted the project’s aim, going away from the lighthearted meme nature of the coin and focusing on payment and other utilities. Right now, PENG is not on the top crypto lists, but the team’s dedication to uplifting the meme coin into a different niche could result in a significant upsurge in PENG’s value. 

10. DUKO

With a market cap of $27 million and a large circulating supply, DUKO has emerged as yet another strong contender in the Solana-based meme coins list. The creators of DUKO have chosen a creative approach to their project, focusing on charity for canine animal welfare. 

The dog-themed meme coin is all about allowing users to contribute funds to dogs around the world. As a result, DUKO has amassed a generous following across the globe thanks to simplifying the charity process for dog-loving individuals. 

Final Takeaways – Are Solana Meme Coins on the Rise?

After the unprecedented success of the original meme coin, Doge, the entire industry has warmed up to the fact that the meme culture is prevalent in blockchain. With Solana, a completely new wave of meme coins has elevated community engagement, allowing the market to enjoy diversity aside from the usual suspects. 

Out of the eight candidates, it is difficult to conclude which one is the best meme coin in terms of potential, future value, and sustainability. Meme coins are famously unstable and can often devalue rapidly. 

So, the key here is to stay active in the marketplace, analyze your preferred tokens regularly, and assess the market conditions appropriately. As a result, you will be able to predict or at least expect some of the short-term shifts in the meme coin niche.