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Solana Meme Coins Surpasses Ethereum by 800% YTD

Memes built on Solana have skyrocketed, surpassing their Ethereum-based equivalents by an astounding 800% so far this year. CoinMarketCap’s 2024 H1 report highlights meme coins as the most popular asset class, claiming 22% of the market. 

Crypto markets unease as Germany and U.S. transfer over $100 million in cryptocurrency.
Source: Coinbackyard

H1 Reports Show Meme Coin Surge 

Solana’s ecosystem leads the meme coin rally, holding a 9.64% market share. Solana meme coins remained stable and green for the past week. 

Dogwifhat Takes the Lead 

Dogwifhat (WIF) surged 12.34% in the last 24 hours, topping the meme coin charts. It increased by 40.17% over the past week after a prolonged downturn. 

SOL Memes Outperform ETH Memes 

Most SOL memes, launched in late 2023 or 2024, outperformed ETH memes established by 2023. SOL memes returned an average of 8,469%, compared to ETH memes at 962%. This surge was driven by WIF and BONK rallies. 

Billy Breaks $100 Million Market Cap 

Billy, a meme coin centered in Solana, was introduced via Pump.above $100 million in market capitalization, for fun. Billy, a meme coin centered in Solana, was introduced via Pump.above $100 million in market capitalization, for fun. The developer sold all tokens in 20 minutes, but the community propelled Billy to new heights. Billy’s market cap fluctuated over the weekend, reaching $117 million by Tuesday. 

Celebrity Influence and Scams 

Celebrity influence boosted Solana meme coins but also attracted scams. Hackers used Sydney Sweeney’s official X account to promote a fake Solana-based meme coin, highlighting ongoing cryptocurrency scam challenges. Solana meme coin Michi jumped 18% after Ariana Grande shared a meme featuring Michi and her music video. 

Billy Surpasses DADDY 

Billy surpassed the Andrew Tate-endorsed meme coin DADDY, now holding a market cap of $71 million. This makes Billy the second-largest Pump.fun-launched token, trailing only Michi, with a market cap of $130 million. 

July 3, 2024 at 11:00 am

Updated July 3, 2024 at 11:00 am

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