Solana is a layer 1 blockchain ecosystem that has grown to compete directly with platforms like Ethereum. The protocol is revered for its low cost lightening transaction speeds and its scalability.
According to CoinMarketCap data, Solana is a top ten cryptocurrency worth $61 billion. The token powering the ecosystem, SOL, attracted $2.5 billion in trading volume while trading at $133.
Solana ecosystem's top meme coins dogwifhat, Bonk, and BOOK OF MEME present key buying opportunities after pulling back from all-time highs. Despite the volatility associated with meme coins, they easily pass as cryptos to hold long-term. 📈
Let's find out.
Investors seeking opportunities to grow small crypto portfolios and prefer looking beyond SOL can consider Solana meme coins like WIF, BONK, and BOME. This research is also applicable to well-endowed investors, but further due diligence is called for.
✨ Dogwifhat (WIF)
Dogwifhat is the largest meme coin in the Solana ecosystem. It is a dog-inspired token like Dogecoin and Shiba Inu, however, relatively younger. Although new compared to DOGE and SHIB, WIF has experienced impressive success since late 2023.
Dogwifhat’s success is reflected in the growth in the value of WIF the token powering the project. Trading at $1.98 at the time of writing, WIF boasts a 2,805% surge from the all-time low.
However, due to the correction in crypto prices, dogwifhat is down almost 60% from its all-time high of $4.85. This means investors buying WIF now are receiving a massive discount. Due to the following, the meme coin enjoys it could rally to new heights in 2024 and 2025 making it a worthy investment in June.
✨ Bonk (BONK)
Bonk is the second-largest meme coin in the Solana ecosystem. It boasts a market cap of $1.43 billion while trading at $0.000021. The project gets its liquidity from its burn mechanism, with a maximum supply of 93 trillion tokens and almost 68 trillion in circulation.
The token was introduced via an airdrop to the Solana community in December 2024. It was the first meme coin to launch on the Solana blockchain. Beyond its burn mechanism, Bonk’s value is strongly hinged on its community.
As a highly speculative crypto, investors should expect volatility. Bonk has lost 55% of its value from the record high of $0.000047 achieved on March 4, 2024.
Again on the Solana Blockchain, the BOOK OF MEME stands out as a leading meme coin. It was launched in March 2024, attracting the attention of crypto enthusiasts with a focus on memes.
The project has presented itself as the ultimate memes library offering long-term storage on the blockchain. It provides users with tools to create memes.
Its association with the Solana ecosystem gave the token a head start. This triggered a massive price increase with some investors reported to have made huge profits.
After exploding to its ATH of $0.028 shortly after the launch, BOME dropped in value before stabilizing around $0.01. However, the headwinds in the market this week pushed the meme coin lower to $0.0089. Despite trading 940% above its all-time low of $0.000858, BOME is a meme coin with potential for long-term holding.
