The popularity of meme tokens has pushed the growth of SOL and AVAX
MAIN:
Despite the correction of the first cryptocurrency, a number of altcoins are showing steady growth, especially the meme token sector.
Over the past weekend, users sent over $100 million to Solana addresses in an attempt to obtain coins through pre-sales.
High volatility has shifted interest from Bitcoin towards altcoins and meme tokens. According to CoinGecko, the total capitalization of the latter increased by 10%, to $56.5 billion.
The most trending direction in the period from March 16 to 17 were meme coins. Among the growth leaders: SHIB (+15%), WIF (+30%) and BONK (+10%). Some “newcomers” like BOME and CORGIAI also showed significant dynamics in terms of capitalization and quotes.
At the same time, the hype around meme coins pushed up the rate of native tokens of the networks on which they were issued. Solana (SOL) gained 11% to $201, while Avalanche (AVAX) rose 20% to $60.
