Solana (SOL) is currently playing host to many memecoins, and here are the top 5 of these assets on the Layer-1 network worth watching.
The 4th quarter of 2023 saw the rebirth of memecoins in the broader digital currency ecosystem, with Solana tagging along. The lower cost of transactions and speed it boasts of in relation to its rivals made Solana the favorite destination for most memecoin deployers.
Today, data from Dex Screener shows tens of new memecoin being launched daily, and sieving out the good ones might prove tedious. While it remains risky to invest in memecoins, here is our pick of top Solana memecoins to watch out for this year.
DragonCoin is a Solana-based memecoin that aims to mimic the growth and successes of its bigger rivals, Shiba Inu (SHIB) and PEPE. Designed to create wealthy followers, DragonCoin is on a mission to change the world.
DragonCoin has seen its price drop by 26.66% since it attained its All-Time High (ATH) of $0.00000000001143 in January. The token currently has a market capitalization of $827,883.3, making it a very cheap alternative to established ones.
As a Solana-based token, aping describes itself as the world’s first interactive memecoin. Powered by APING with a total supply of 25 trillion, the memecoin boasts of a deflationary system that will see the paying tokens spent on streaming taken out of supply forever.
The token is priced at $0.00000007308 and has a market capitalization of $1.88 million at the time of writing.
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BONK is the pioneering memecoin on Solana and has maintained its status as the biggest on the protocol in terms of community size and market capitalization which at the moment is worth $689,879,034 atop a price of $0.00001093.
BONK’s success story has helped it emerge as a viable alternative to Dogecoin (DOGE), SHIB, and PEPE as it stole the limelight in the 2023 year-end rally. BONK has created a high standard on Solana the way Shiba Inu did for Ethereum.
Kin is a decentralized protocol created to integrate with mobile and web applications without hassle. Kin’s use case becomes even more attractive considering it incentivizes developers to create crypto-related experiences while also rewarding users for their engagement.
Kin has gained relative popularity compared to DragonCoin and aping as its price is pegged at $0.00001359 with a market capitalization of $39,873,952.
KING is a Solana-based project with a deep Monarchy undertone as it is created in line with King Charles III’s coronation. Since memecoins are community-driven and cultural projects, KING emphasizes community collaboration and reward sharing.
KING is worth $0.00003118 and boasts a market cap of $289,058.
Disclaimer: Memecoin investment should come with risk management strategies with proper personalized research into each token.