Meme coins have not only become trendy and vibrant but also an entertaining part of the cryptocurrency realm, often involving Internet culture, memes and are driven purely by community efforts to gain traction. The Solana network has been quite a popular basis for building meme cryptos, similarly to Ethereum. Bunches of meme coins have emerged on Solana and today we will look at five largest ones.
Dogwifhat (WIF)
Dogwifhat (WIF) occupies the 57th spot in terms of market cap, according to CoinGecko. It is a meme coin built on the Solana chain which represents the whimsical and absurd part of Internet culture. The coin was inspired by a humorous image of a little dog wearing a hat. Thus, WIF was made to capture a playful spirit of Internet dog memes while representing a cryptocurrency project driven by the efforts of its vast community.
Dogwifhat quickly grabbed a dedicated community of followers that love the coin’s focus on fun and engagement. It has captured followers’ attention on such platforms as X (formerly Twitter) and Discord – on which two fans actively take part in meme competitions, social media campaigns and other online events.
Even though WIF is merely a meme coin, it has begun to be used in decentralized finance (DeFi) on the Solana network, including potential use-cases like NFT collaborations and staking. WIF is likely to go beyond and much further than being just a meme coin. WIF is currently trading at $1.39 with a market cap of $1,382,912,457.
Bonk (BONK)
Bonk occupies the 64th place with a market capitalization of $1,211,046,474, trading at $0.00001735. BONK is another popular meme coin running on Solana. It was inspired by such early meme coin giants as Dogecoin (DOGE) and Shiba Inu (SHIB).
BONK is based on a fair distribution model and it was designed to be deeply decentralized unlike other meme coins that have been captured by centralization issues. A massive portion of BONK coins were distributed within the Solana community via airdrops so as to ensure widespread ownership and community engagement and participation.
The meme coin has been made part of multiple DeFi protocols on the Solana blockchain, enabling users to stake their BONK or participate in liquidity pools, thus boosting the coin’s appeal and expanding its utility.
Book of Meme (BOME)
Book of Meme (BOME) ranks 128 on the CoinGecko coin scale. It is another popular meme coin on Solana which was inspired by the concept of creating a compendium of memes – a metaphorical “book” whose goal is to collect the culture, humor and creative spirit all over the Internet. The authors of the project aimed at creating a strong and loyal community based on the idea of preserving and celebrating blockchain-based meme culture.
BOME is much more than just a community-driven meme coin created for the sake of fun. It aims at incorporating elements of decentralized finance (DeFi) and non-fungible tokens (NFTs) into its wide ecosystem. This will allow users to create, trade and collect meme-inspired NFTs, which will add an extra layer of utility and engagement boost which no other meme coin can boast. The community is actively participating in the creation of content that defines and solidifies BOME identity within the vast cryptocurrency space. BOME is trading at $0.006686 with a market cap sitting at $461,874,861.
Cat in a Dog’s World (MEW)
MEW is a meme cryptocurrency built on Solana that was inspired by the classic competition between cats and dogs on the Internet and it stands out among other meme coins. MEW was designed to represent the independent and rebellious spirit of cats versus that of dogs, putting itself aside in the world of meme coins based purely on dogs, such as DOGE and SHIB.
The MEW community and team are exploring ways to add more utility and functionality, which includes partnerships with makers of NFTs and DeFi apps that can be potentially integrated on Solana. MEW is changing hands at $0.00459, while its market cap equals $414,177,524. It’s the 148th largest coin, according to CoinGecko.
Popcat (POPCAT)
This popular meme coin on the Solana network draws inspiration from the POPCAT meme that is going viral on the Internet. In this meme, a cat’s mouth opens and shuts responding to mouse clicks on the meme. Thanks to its simplicity, POPCAT has gained massive popularity on Solana, showing the absurdity and humor of the meme and ensuring a light-hearted atmosphere full of fun for the POPCAT army.
This project has been rapidly growing, thanks to the community’s wide recognition and its enthusiasm for creating and sharing content based on the POPCAT meme. The coin utilized gamification and experiments with mini-games where users are allowed to earn tokens as rewards thus giving it a massive advantage over other meme coins on Solana. POPCAT ranks as 146 with a market capitalization of $388,923,893. It is trading at $0.3995.
All of these meme coins have their unique features, such as community engagement, or focus on NFTs and play-to-earn models. Their success is largely down to the enthusiastic communities backing them who are attracted by the humor, fun which these projects are based on. As the Solana ecosystem keeps expanding and growing, these meme coins built on it are likely to continue to evolve, seeing new features added and partnerships concluded with a huge rise in utility and appeal to these coins.
