GetBlock Magazine - What happened? Meme tokens remain leaders in profit growth, despite the recent correction in the crypto market, experts from the analytical company Kaiko noted in a new weekly report. The profitability of such assets since the beginning of the year has ranged from 80% to 1800%, and the weekly trading volume over the same period increased by 200% and reached $11 billion.
Kaiko report
What else is known? Kaiko notes that the current situation differs from historical data: previously, during market downturns, traders invested in high-quality assets, which led to a decrease in the profitability of meme tokens.
Such assets often do not have specific purposes or use cases, and their valuation is based on popularity in the community or online trends and is considered speculative and highly volatile.
Analysts believe that the current high performance of meme tokens is due to their accessibility to a wide range of investors and their ability to adapt to trends. These factors combine to attract new members and keep the community engaged.
At the same time, analysts noted that in comparison with most altcoins, the meme-token segment has a much larger volume of borrowed funds relative to its own (leverage). This is due to the speculative nature of meme tokens.
Earlier, amid the ongoing excitement around meme tokens, Solana updated the throughput record and became the fastest blockchain with a result of 1054 transactions per second.
Overall, Solana has been one of the main beneficiaries of the rise in popularity of meme tokens. The top 10 such assets by market capitalization include four Solana-based coins: Dogwifhat (WIF), Bonk (BONK), Book of Meme (BOME) and Popcat (POPCAT).
Syncracy Capital believes that the popularity of meme tokens, combined with other factors, will allow the native Solana token (SOL) to grow to $200 by the end of May, and later update its all-time high above $260.
