Despite Bitcoin climbing to the $66,000 mark last night, memecoin is definitely the hot topic this year!
In 2024, memecoin has outperformed all other areas in the cryptocurrency space and shows no signs of slowing down for the rest of the year.
On October 9, Solana Floor reported that nearly 20,000 new tokens were launched on Solana in the past 24 hours, noting that most of these new tokens are memecoins.
The total market value of memecoin on Solana exceeds $10 billion, with a 24-hour trading volume of about $2.3 billion. Platforms like Pump. Fun has fueled the memecoin craze on Solana due to its simplified user interface, low transaction fees, and access to fast liquidity on decentralized exchanges such as Raydium - almost anyone can issue a new token.
