SOL Soars: What Meme Coins on Solana Are Worth Watching?

2024-11-08, 09:38

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<a  rel="nofollow noopener noreferrer"  href="/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a>, founded by Anatoly Yakovenko in 2017, aims to solve blockchain scalability issues. One of its core technologies is Proof of History (PoH), a cryptographic time mechanism that enhances network throughput and efficiency. Combined with Proof of Stake (PoS), <a  rel="nofollow noopener noreferrer"  href="/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> achieves processing capabilities of up to 65,000 transactions per second (TPS) while maintaining extremely low transaction costs.
## Development History of Solana
In March 2020, the Beta version of the Solana mainnet officially launched. One of the most notable early projects on Solana was Serum, a decentralized exchange platform based on an order book, which received strong support from FTX and Alameda Research in its early days.
2021 was a turning point for Solana, as the price of the SOL token surged from under $2 at the beginning of the year to around $260 at its historical peak during the bull market in crypto space. During this time, various projects on the Solana blockchain, including Raydium, Mango Markets, and Magic Eden, were successively launched.
The market downturn in 2022 had a negative impact on the Solana ecosystem, particularly due to the collapse of FTX. However, the Solana team demonstrated its commitment to long-term development through technological upgrades and community initiatives, such as the launch of the Saga <a  rel="nofollow noopener noreferrer"  href="/web3" target="_blank" class="blog_inner_link">Web3</a> phone.
In 2024, Solana made a strong recovery, rising back above $200. As the ecosystem continued to expand with the addition of more decentralized applications and innovative projects, Solana's market capitalization and user activity increased once again. At the same time, Solana continued to invest in core technological improvements to ensure the stability and security of its network.
In the <a  rel="nofollow noopener noreferrer"  href="/price" target="_blank" class="blog_inner_link">cryptocurrency market</a>, meme coins are gaining attention for their unique cultural and community-driven characteristics. Solana, as an efficient and low-cost blockchain, provides an ideal environment for the development of meme coins. In 2024, several meme coin projects on Solana performed exceptionally well, warranting close attention from investors and crypto enthusiasts.
In the <a  rel="nofollow noopener noreferrer"  href="/price" target="_blank" class="blog_inner_link">cryptocurrency market</a>, meme coins are gaining attention for their unique cultural and community-driven characteristics. Solana, as an efficient and low-cost blockchain, provides an ideal environment for the development of meme coins. In 2024, several meme coin projects on Solana performed exceptionally well, warranting close attention from investors and crypto enthusiasts.
## Popular Meme Coins
1. Dogwifhat (WIF)
![](https://gimg2.gateimg.com/image/article/1731063389wif.png)
 According to Gate.io market data, WIF is currently priced at $2.30, with a 24-hour price change of -1%, and a circulating market cap of $2.33 billion. Dogwifhat is one of the most eye-catching meme coins in the Solana ecosystem. Since its launch in November 2023, WIF has quickly attracted significant attention with its simple yet appealing "dog with a hat" image. Despite lacking specific utility or a roadmap, the high community engagement has driven WIF's market cap to exceed $3 billion.
2. Bonk (BONK)
![](https://gimg2.gateimg.com/image/article/1731063435bonk.png)
 According to Gate.io market data, BONK is currently priced at $0.0000223, with a 24-hour price change of 1.5%, and a circulating market cap of $1.57 billion. Bonk is the first dog coin on the Solana blockchain, known for its decentralized distribution and deep commitment to the community. Its core philosophy emphasizes decentralization and community first. 50% of the initial supply was distributed to Solana community members, including NFT holders, artists, and developers, through airdrops. This distribution method garnered extensive community support from the outset.
3. Book of Meme (BOME)
![](https://gimg2.gateimg.com/image/article/1731063424bome.png)
 According to Gate.io market data, BOME is currently priced at $0.0085, with a 24-hour price change of -0.35%, and a circulating market cap of $596 million. Launched in March 2024, BOME raised over 10,000 SOL within 24 hours and has continued to attract global cryptocurrency users' attention and support. This led to an increase of over 1700% in BOME's on-chain liquidity pool within just three hours after launch, creating a sensation in the cryptocurrency community and marking the beginning of a new MEME legend on Solana. Initiated by the renowned graffiti artist Darkfarms, the Book of Meme project gained rapid recognition in the crypto community. According to official sources, BOME aims to preserve internet meme culture and is an innovative project that combines decentralized storage with speculative trading, allowing users to permanently store various memes on the blockchain, creating a digital chronicle of memes. Since its launch, BOME has attracted widespread attention, with its token market cap exceeding $1 billion at one point, making it one of the fastest-growing meme projects in the Solana ecosystem.
4. Wen (WEN)
![](https://gimg2.gateimg.com/image/article/1731063412wen.png)
 According to Gate.io market data, WEN is currently priced at $0.00127, with a 24-hour price change of 2.81%, and a circulating market cap of $93 million. WEN is a community-driven meme token on the Solana blockchain, designed to promote <a  rel="nofollow noopener noreferrer"  href="/web3" target="_blank" class="blog_inner_link">Web3</a> culture in innovative ways. The project is known for its unique airdrop strategy and innovative NFT standard (WNS, Wen New Standard), providing a platform for community members based on decentralized governance and creative development. The initial supply of WEN is set at 1 trillion tokens, with 70% allocated for large-scale airdrops to active Solana users, 20% to liquidity pools, and 10% for project reserves. This large-scale distribution mechanism effectively increases the token's popularity and promotes community engagement. WEN showcases the potential of the Solana ecosystem through its technological innovations and community-driven model. Although its market performance remains uncertain, as a meme token that combines NFTs and decentralized governance, WEN's influence in the crypto community should not be overlooked.
5. Maneki (MANEKI)
![](https://gimg2.gateimg.com/image/article/1731063400maneki.png)
 According to Gate.io market data, MANEKI is currently priced at $0.00897, with a 24-hour price change of 35.75%, and a circulating market cap of $8 million. MANEKI is a meme token based on the Solana blockchain, inspired by the traditional Japanese "beckoning cat" symbolizing good luck and wealth. Launched on April 22, 2024, the project adopted a fair distribution model, with no pre-sale or team reserved tokens. Maneki has a total supply of 8.888 billion tokens, of which 90% of the initial on-chain liquidity tokens have been permanently burned, ensuring a community-driven ecosystem. Despite being a meme token, Maneki aims for more than that. It seeks to become a global brand that combines traditional Japanese culture with modern digital trends. Future plans include launching comic and animation series, as well as producing physical merchandise. Additionally, Maneki has applied for global trademark protection, demonstrating its ambition to expand beyond the cryptocurrency space. Since its launch, Maneki has rapidly gained popularity, with its market cap exceeding $260 million on its first day. It has also appeared on the large screens of the New York Stock Exchange and NASDAQ in Times Square, showcasing its marketing success in mainstream markets. By combining cultural significance with strategic market positioning, Maneki stands out in the competitive meme token market. Its community-driven approach and ambitious development plans make it one of the noteworthy projects in the Solana ecosystem.
## Conclusion
Solana's core advantage lies in its exceptional transaction speed and low transaction fees. Compared to the high gas fees on <a  rel="nofollow noopener noreferrer"  href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a>, Solana offers users a more attractive trading environment. This performance advantage greatly facilitates the development of meme coin projects. While meme projects are rapidly evolving, their future success will depend on whether they can continue to innovate, launch valuable ecological applications, gain more mainstream visibility, and attract more users and developers. The value of meme coins is highly dependent on market sentiment, leading to significant price volatility. Investors should approach market fluctuations with caution and focus on the long-term development potential of the projects.
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<div>Author: **Icing**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions. All investments carry inherent risks; prudent decision-making is essential.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
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