CRYPTOCURRENCIES ON SOLANA: RETURN TO THE NICHE FOR MEMECOINS?

Dog of the breakage . One of the trends at the start of the year is to be able to approach memecoins as a sector in its own right. A notable change in dynamics which even pushes certain analysis structures to consider a real interest of these void tokens for the cryptocurrency ecosystem . However, the euphoria triggered by these cryptocurrencies with improbable returns does not resist the crisis . Indeed, the top 10 memecoins on the Solana network recorded a notable drop over the last 24 hours.

SOLANA CONTINUES TO SURF MEMECOINS :

While the week got off to a flying start, the return of Bitcoin below $70,000 has already reshuffled the cards . A situation which brings with it the entire cryptocurrency sector , with a few rare exceptions. 

Should we hope for a rebound during the next Bitcoin halving approaching? Analysts remain for the most part wary, faced with unprecedented market dynamics that are not necessarily favorable in the short term .

And as the principle of pure speculation is not based on sufficiently solid fundamentals, the memecoin market was quick to begin this new bearish episode . This in particular on a Solana network whose current success is essentially based on being the official kennel of this meme economy .

As a result, the capitalization of memecoins on Solana still represents a 12% share of the total value of this sector ($62.3 billion), all networks combined. For comparison, the emerging memecoin market on the Base network is worth $1.6 billion (2.5%).

Because canine loyalty is probably what memecoin enthusiasts lack the most. Indeed, since the drop in fees triggered by the latest upgrade of the Ethereum network, layers 2 have become their new playground . Like for example the Base network which has just surpassed the historical Arbitrum (ARB) with its number of daily active addresses.

#Dogecoin‬⁩ #MemeCoinsToTheMoon #MemeCoinsSeason #Yanbi22

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