Top gainers include Solana tokens: JUP and WEN rose more than 12%, WIF reached a new high point
WIF
$3.2726
+15.14%
SUN
$179.07
+7.67%
BONK
$0.00003373
+0.30%
Many industry insiders are now enthusiastic about the Solana ecosystem due to its pricing and the significant growth it is seeing. Likewise, numerous Solana-based tokens have been among the top gainers over various periods of time, posting outstanding performances during bull runs.
Does Solana use Memecoins as its main engine?
After a daily gain of over 12.8%, Solana is now the fifth-largest blockchain by Total Value Locked (TVL), according to CoinGecko statistics. During this period, Solana performed better than its competitors, especially Ethereum, which fell 2.2% compared to yesterday.
Solana's TVL increased by 35.3% over the 7-day period and by 89.8% over the 30-day period. The figure below shows that its performance was better than the four circuits above.
Franklin Templeton Digital Assets expressed its opinion on the value of memcoins and related networks. The banking giant believes that memcoins are highly dependent on the success of their own networks.
Several meme currencies have risen sharply in value over the past year, with the sharpest jump occurring in Solana-based BONK in the fourth quarter of 2023. Solana's daily active user addresses increased more than 75% from Q3 to Q4 2023.
According to the asset management company, "the Solana network captured a large percentage of all active address activity at the same time that BONK saw price increases" in the fourth quarter of 2023, suggesting a possible connection between the two.
According to CoinMarketCap statistics, the market capitalization of Solana-based tokens has increased by 5.5% since yesterday to almost $222.36 billion. The success of Memecoins appears to be a feather in the network's cap.
Solana chain tokens such as "unlike cats and dogs" have been doing quite well lately, while new tokens such as "dogwifhat", "Wen" and "Jupiter" are still making waves in the cryptocurrency market .
Among the most discussed topics in the community are animal themed dog tags such as dogs and cats. According to CoinGecko Data, Solana-based coins Myro, Bonk and Popcat are currently growing in their respective subcategories.
âA cute dog in a knitted hat gathers a strong community that seems capable of supporting itâ is no longer an appropriate description of the token after Dogwifhat (WIF) debuted.
As a testament to the community's support, the "wif onSphere" crowdfunding initiative was able to raise nearly $650,000. The promotion will feature the WIF logo on the world's largest LED screen, the Las Vegas Sphere, for one week.
The token's value has risen 42.3% in the last 24 hours, reaching a new ATH of $3.36 this morning following the announcement. As of this writing, WIF is trading at $3.1, just 4.3% off its all-time high.
