Since the beginning of the year, Solana meme coin has surpassed Ethereum by 800%, gaining stability and constant growth.\\Meme coins hold 22% of the market, with Solana leading the way with a 9.64% share, followed by Ethereum and AI.Dogwifhat grew 12.34% and Billy's market capitalization increased 97%, surpassing DADDY.\\Solana-based meme coins have outperformed Ethereum-based coins by a staggering 800% since the beginning of the year, according to first quarter reports. The CoinMarketCap 2024 H1 report recognized meme coins as the most popular asset class with a market share of 22%. The Solana ecosystem (SOL) topped the list for the past eight months, followed by Ethereum (ETH) and artificial intelligence (AI) tokens.
The #Solana ecosystem took 9.64% of the market, while #meme coins grew. Over the past week, meme coins have remained stable and in the green.
The top performer is Dogwifhat (WIF), which has gained 12.34% in the past 24 hours, making it the most popular meme coin. After a prolonged slump last week, its price rose 40.17%.
The report also highlights the fact that most SOL memes launched in late 2023 or 2024 have outperformed #ETH memes created before 2023. Specifically, the average yield of SOL memes was 8,469% compared to 962% for ETH memes. This surge may have been driven by the WIF and BONK rallies, which led to a cycle of increased interest and growth.
BILLY, a Solanium-based meme coin launched via Pump. fun, recently passed the $100 million mark. As a result, it became the second largest token on the platform.
the token's journey began in early June, when the developer sold all tokens within 20 minutes. Despite the developer's sudden departure, the community took control of the project, and it is believed that it was thanks to their efforts that Billy was able to reach new heights.
the weekend, the market value of Billy fluctuated around 72 million U. S. dollars. By the end of the week, it dropped to 60 million US dollars, but by Tuesday it soared 97% to 117 million US dollars. Similarly, Pump. fun overtook #BinanceTurns7 in daily revenue, reaching the $2 million mark on June 30, 2024.
The influence of celebrities may also have contributed to the rise of solanamime coins by attracting potential scammers targeting celebrity accounts. Recently, hackers used Sidney Sweeney's official X account to promote fake Solanamime-based meme coins.
the hacked account posted posts about giving away fake tokens and burned them. This fraudulent post highlights the problems that cryptocurrency scammers constantly face.
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