Shiba Inu remains one of the top memecoins to invest in, with its burn rate surging 6,000% as it attracts more investors amid the ongoing bull run. Solana, which hit an all-time high last week, also remains a popular choice, while Ethereum-based utility memecoin Yeti Ouro tops the list of best new projects to invest in.
Shiba Inu and Solana appear in the Bull Rally
Shiba Inu remains one of the top picks for investors in the memecoin market, up 38% in November and second only to Dogecoin among memecoins with a market cap of $14.8 billion. One of its attractions is its burn rate, which makes the project deflationary and supports a bullish pattern. This burn rate is up 6,000%, making it an ideal time to invest in memecoins.
In addition to burning, Shiba Inu has been working hard to provide utility, and its Shibarium layer 2 network is at the core of this new identity. With Shibarium, Shiba Inu can break away from the label of "just a memecoin" and provide solutions across DeFi, DEX, NFT, and more. As shown by data from Shibarium Scan, interest in the network has been steadily growing, as shown by the growth of daily unique active addresses and new addresses over the past year. The network now has more than 1.9 million wallet addresses and conducts nearly 5 million transactions per day.
Solana remains one of the top projects that investors are watching in the ongoing bull cycle. SOL hit a new ATH of $263 last week and analysts say it’s not done yet. One analyst noted that Solana has been trading in a 4-based parabolic pattern and is only in the second phase. The third phase will take it above $1,000, while the next phase will take it above $6,000.
Additionally, Solana’s ecosystem has been thriving over the past year. Its meme coins have been leading the way, from Dogwifhat and Bonk to POPCAT and Peanut the Squirrel. POPCAT, in particular, is up 18,000% this year, making it the biggest gainer among the top 1,000 tokens this year. Solana’s DeFi has also been thriving, with its dApp revenue surpassing Ethereum’s in November, suggesting a flip could be in the near future.
Whales turn to new viral memecoin
As bullish momentum wanes for most major coins, crypto whales are turning to Yeti Ouro, a new project that combines the fun nature of memecoins with the practicality of earning-while-playing games.
Yeti Ouro’s P2E game Yeti Go allows players to participate in a thrilling race where the goal is to outwit opponents while dodging hazards along the way. Winners are rewarded with YETIO tokens. Players can also pay to participate in races, purchase weapons and other customizations, and trade in-game items on YETIO’s marketplace, gaining token utility that most memecoins lack.
Yeti Ouro also has a 1 billion token supply cap and a token burn mechanism, giving it an advantage over memecoins, which have a supply of trillions. The Yeti Ouro team recently released a video showing the team’s journey to build Yeti Go, which has reignited investor interest.
Shiba Inu’s token burn surges, increasing its appeal to investors. Meanwhile, Solana is breaking records every other week. However, investing during Yeti Ouro’s presale remains the most lucrative opportunity in the crypto market.