Solana meme cash are rising in dominance, difficult these minted on Ethereum and even the primary of all of them, Dogecoin. Whereas Dogecoin is probably the most precious, it more and more faces stiff competitors from Pepe and Shiba Inu.
Nevertheless, builders have been minting 1000’s of meme cash from the scalable chain over the previous yr, particularly after Solana recovered from round $20 in This autumn 2023.
Solana Meme Cash Rising, Market Cap Exceeds $11 Billion
In accordance with Coingecko information, the entire market cap of all meme cash on Solana is round $11 billion as of mid-October 2024. This valuation is up 5% previously day alone.
DogWifHat (WIF) is probably the most precious within the Solana ecosystem, with a market cap of over $2.8 billion. To place within the numbers, it’s up roughly 8% previously week of buying and selling and up 3% in 24 hours.
Different notable meme cash that dominate Solana embrace Bonk and Popcat. These tokens are among the many prime performers in 2024, and their market caps are above $1 billion.
They’re among the many solely eight meme cash with market cap exceeding $1 billion. Some embrace Brett, the meme coin on Base, Pepe, and Floki.
Curiously, Neiro on Ethereum is first increasing, etching its place on the highest 10, flipping BOME. NEIRO has a market cap of over $839 million at press time.
Cardano Unlocks Extra ADA, What’s Subsequent?
The speedy enlargement of meme cash on Solana means they’re cumulatively closing the hole with Cardano. At press time, ADA is altering fingers at round $0.35 and down the market cap rating to eleventh. In accordance with CoinMarketCap, ADA has a market cap of $12.4 billion and stays beneath strain.
On October 14, Cardano will unlock 18.53 million ADA. In accordance with Token Unlocks, the platform has launched over 85% of all ADA to buyers, crew members, and different stakeholders. Whereas that is bullish, any token unlocking occasion is seen as bearish, contemplating the anticipated enhance in provide.
When writing, ADA is down roughly 60% from the March excessive. As costs consolidate, the coin has help at round $0.30 whereas resistance is at $0.40.
Any breakout under the native help may see ADA print contemporary 2024 lows, heaping extra strain on the coin. This growth, in flip, assuming Solana expands, may see its meme cash flip ADA.
Function picture from Canva, chart from TradingView
