This year, Solana-based meme coins such as Dog and Cat tokens have delivered significant returns for their holders. These meme cryptos have finally managed to steal the spotlight as the market approaches the last quarter of the financial year.
Solana Takes the Meme Coin Crown
According to DeFiLlama, the Solana chain has recorded a 15% jump in its total value locked (TVL) over the last 7 days. Meanwhile, Ethereum saw slightly lower but still impressive 12% gains in the same period. SOL remains the third biggest chain with a TVL of $5.288 billion. Solana saw a recovery rally, gaining 15% in a week after its price dropped to the $120 zone in September, with an average price of $150.28 at press time. Its 24-hour trading volume is up by 23% to stand at $2.86 billion.
Popcat and Dogwifhat Lead Gains
Cat-themed Popcat has skyrocketed by an astonishing 12,800% this year. The meme crypto joined the billion-dollar club with a 13% surge in the last 24 hours. Popcat’s 24-hour trading volume jumped by 54% to stand at $151.7 million, with an average price of $1.02 at press time. Dogwifhat followed closely, boasting a 1,108% gain since January and reclaiming a $2 billion market cap after a 15% jump. The total market cap of Solana-based meme coins has reached nearly $8 billion with a gain of around 10% over the last day.
Market Trends on Ethereum
In contrast, Ethereum-based meme coins have shown moderate growth. Pepe and Floke have surged 520% and 292% respectively on a year-to-date basis. Established players like Dogecoin and Shiba Inu have seen modest increases of 45% and 23%, respectively.
Solana-based meme coins are gaining popularity and demonstrating significant growth, highlighting their importance in the cryptocurrency market. While Ethereum shows moderate success, Solana confidently captures the lead among meme cryptos.
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