In line with Q1 reviews, Solana-based fully meme cash have outperformed their Ethereum-based fully counterparts by an fabulous 800% year-to-date (YTD).
Within the CoinMarketCap 2024 H1 file, meme cash had been labeled because the popular asset class, representing a 22% fragment of the market. Over the last eight months, the Solana (SOL) ecosystem has led the charts, followed by Ethereum (ETH) and synthetic intelligence (AI) tokens.
H1 Reviews Show Surge in Meme Coin Recognition
Amidst the meme coin rally, the Solana ecosystem holds a 9.64% market fragment. The meme cash have remained stable and within the inexperienced for the past week.
Dogwifhat (WIF), takes the lead because it surged 12.34% within the closing 24 hours, changing into the cease meme coin. After a extended downturn, its ticket has now elevated by 40.17% over the last week.
Moreover, the file additionally highlighted the truth that most SOL memes, launched in late 2023 or 2024, outperformed ETH memes, which had been extra established by 2023. Specifically, SOL memes returned a mean of 8,469%, when put next with 962% for ETH memes. This surge may perhaps well need been driven by WIF and BONK rallies, leading to a cycle of elevated hobby and enhance.
No longer too lengthy ago, Billy (BILLY), a Solana-based fully meme coin, launched by Pump.fun, broke past a $100 million market cap. As a result, It’s now the second-largest token on the platform.
The token’s journey began in early June when the developer sold all his tokens inner 20 minutes. Despite the developer’s surprising exit, the community took over the mission. Their efforts are viewed as what helped propel Billy to fresh heights.
Billy’s market cap fluctuated around $72 million over the weekend. It dipped to $60 million because the week started, then soared 97% to $117 million by Tuesday. On the an identical relate, Pump.fun topped Ethereum in day-to-day income, hitting $2 million on June 30, 2024.
Indispensable person affect will have additionally boosted Solana meme cash, attracting capability scams focusing on superstar accounts. No longer too lengthy ago, hackers worn Sydney Sweeney’s official X tale to promote a flawed Solana-based fully meme coin.
The compromised tale posted about a flawed giveaway and token burn. The flawed posts spotlight the continuing challenges of cryptocurrency scams.
Moreover, the Solana meme coin Michi jumped 18% after Ariana Grande shared an Instagram meme featuring the cat Michi and her tune video.
Billy has now surpassed the Andrew Tate-endorsed meme coin DADDY, which dropped 1.4% and now holds a market cap of $71 million. This makes Billy the second-largest Pump.fun-launched token, trailing supreme Michi, which currently boasts a market cap of $130 million.
