Solana-based meme coins have emerged as prominent competitors in the crypto market, Superior Larger cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have surged in recent months.
With coins like Punk Eno While BONK shares have surged by around 7,000% since the start of the year, the potential approval of Solana ETFs filed by U.S. asset managers VanEck and 21Shares is seen as a potential catalyst for the tokens, according to market expert Leshka.
at recent days analysisLeshka explained that Solana memes have become the dominant narrative of this market cycle, raising expectations for its potential growth following the potential approval of a Solana exchange-traded fund by the US Securities and Exchange Commission (SEC).
Best Solana Meme Coins to Watch
Leshka started shooting the cat-based POPCAT coin, which has seen a 55% price increase in the past two weeks.
POPCAT is currently trading at $0.448 and is the fourth largest meme coin on Solana with a market cap of $441 million. Leshka considers it one of the most important coins Medium sized memes About Solana, it highlights the “strong community” despite its lack of intrinsic value.
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Next, Leshka highlighted MICHI, another cat-based meme coin in the Solana ecosystem. According to the analyst, the upcoming launch of MichiSwap, Michi non-fungible tokens (NFTs), and the Michi NFT marketplace could spur further price increases for MICHI in the coming months.
The analyst also mentioned Bonk Inu, another meme coin that has gained a lot of attention in recent months, which has seen a 20% surge. Price increase In the past 14 days, it is currently trading at $0.00002413.
Leshka highlighted how Bonk Inu, which originally supported the Solana community, has expanded its user base and integrated into decentralized finance (DeFi), on-chain messaging protocols, and NFT markets as key to its growth prospects, positioning Bonk Inu as another meme coin with potential for further gains.
Political Meme Coins
Leshka moved on to highlight Dogwhifhat (WIF), currently the largest Solana-based meme coin by market cap, which has raised over $1.6 billion in record time.
Leshka believes that Dogwhifhat “symbolizes progress in future transactions” and is a beacon for “forward-thinking individuals.” However, the token has seen a sharp rise prices drop In the monthly time frame by about 40%.
Finally, the analyst highlighted political memes based on the Solana ecosystem, specifically those related to American politicians, which have gained significant traction as the upcoming elections in November approach.
Leshka noted that OBEMA, a coin featuring Michelle Obama’s image, is a “risky play” that lacks intrinsic value or expected financial gains. However, the analyst noted that it could yield a 10-20x return if Joe Biden leaves office. presidential race.
Leshka also mentioned BODEN, a coin featuring Joe Biden’s image. Despite its waning popularity, an “unexpected event” in the White House race could give it a final boost, especially if the president wins the election in November.
Solana’s native token SOL was trading at $138.70 at writing, down over 13% month-to-month, but up 540% year-to-date.
Featured image by DALL-E, chart by TradingView.com