Wave of Memecoins on Solana: Which Ones Are Making Noise in the Market?
The wave of memecoins that swept across Solana in 2024 has propelled the network's growth to unprecedented levels. As a result, Solana's volume and market share have surged rapidly, even surpassing Ethereum at various points.
According to CoinGecko, almost half of the top 20 memecoins are on Solana. Memecoins like PEPE, WIF, and MEW have generated significant excitement within their communities, leading to impressive value increases.
Here are the memecoins that are currently growing on Solana and those that show the most promise.
COBRA
World champion kickboxer Andrew “Cobra” Tate's fame from his motivational speeches inspired the creation of a memecoin named after his nickname: Following its launch, COBRA experienced a 1,600% increase within 24 hours, driven by Tate’s social media influence and community power.
ELON
During the 2021 bull cycle, many memecoins emerged to "honor" the billionaire , helping many people make money. This trend reached Solana with ELON, the first memecoin on the network dedicated to the Tesla and X owner. ELON uses Musk's image to generate attention, achieving a 235% price increase on June 10 alone. Within 24 hours of its launch, ELON surpassed $1 million in market value and became the most traded memecoin of the day.
Slerf
SLERF is a comeback story among memecoins. Launched on Solana in March, SLERF raised $10 million in a successful pre-sale but faced disaster when the developer accidentally burned all the funds. However, the project recovered, compensating investors and achieving an 1,800% increase over the past two months.
Base Dawgz
Base Dawgz and its token (DAWGZ) have a sports connection—this time with base jumping. Currently in its pre-sale phase, DAWGZ has raised $763,000, showing strong potential for future gains.
Sealana
Animal-themed are also gaining traction on Solana, with Sealana (SEAL) leading the pack. Since its pre-sale began, SEAL has raised over $4 million.