7 Trending Solana Meme Coins in 2024

Meme coins are an important part of the Solana ecosystem and recently surpassed $9 billion in market cap. These meme coins have also gained a massive community with a strong online presence on popular social media platforms.

Solana meme coins are on their way to compete with the leaders of this space, Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE). At present, these three tokens constitute over 70 % of the total market cap of meme coins. 

The advantages of the Solana blockchain, such as faster transactions and low fees, over others like Ethereum, have played an inevitable role in the rise in demand for these meme coins. 

For example, Solana achieved a record-high daily average of over 1,500 transactions per second (TPS) in April 2024, which is 46 times faster than Ethereum’s TPS.

Note: Investing in meme coins comes with significant risk and extreme volatility. Please do your own research before investing.

 

Advantages of Meme Coins on Solana Network

The major advantages of the Solana network that boost its meme coin ecosystem include:

• High Transaction Speed: Labeled as one of the fastest large blockchains, Solana is claimed to have a benchmark throughput of up to 65,000 TPS. This fast transaction speed helps meme coin buyers or sellers conduct large numbers of transactions quickly without any network delays.

• Low Transaction Fees: Solana offers low transaction fees, allowing users to buy, sell, and trade meme coins. For instance, the median fee of a Solana transaction is as low as $0.00064, which is significantly lower compared to other blockchains. 

• Ease of Development: The Solana ecosystem provides its developers with the required tools, community support, and documentation. For example, the Solana Program Library (SPL) consists of a collection of optimized, deployed, and pre-compiled programs that allow Solana developers to build dApps.

Top Solana Meme Coins

1. Dogwifhat (WIF)

Dogwifhat (WIF) is Solana’s meme coin that represents the Japanese dog breed, Shiba Inu’s puppy in a pink hat. Launched in late 2023, WIF without any known utility tops the Solana meme coin market with a market cap of over $3 billion.     

This meme coin doesn’t offer any staking or other rewarding opportunities to its token holders. When it comes to tokenomics, the total circulating and maximum supply of the dogwifhat project is 998.92 million WIF tokens. 

This meme coin is backed by strong community support, leading to high demand for the dogwifhat. For example, the original meme photo of the dogwifhat was sold as an NFT for $4.3 million.

2. Bonk (BONK)

Bonk (BONK) is a dog-themed meme coin that aims to integrate with numerous dApps and become the “community coin of Solana.” This project supports 11 blockchains, including Solana, Polygon, and Ethereum. 

The key projects of the Bonk ecosystem consist of:

• BONKswap: This DeFi platform allows users to swap or stake tokens and earn rewards for providing liquidity. 
• OpenBONK: It is a community-driven decentralized exchange (DEX) powered by OpenBookSwap to facilitate enhanced token trading.
• BONKbot: Solana’s Telegram bot facilitates features like auto buy and offers referral rewards of up to 30% of the trading fees charged. 

Bonk project has a total supply of 100 trillion BONK tokens, 50 trillion of which were airdropped to the Solana community in December 2022. This Solana meme coin also executes a token-burning mechanism to increase the scarcity of BONK tokens.

3. Book of Meme (BOME)

Book of Meme (BOME) was created by Darkfarms, an enigmatic crypto artist aimed to immortalize meme culture in the crypto space. Along with Solana, this meme coin operates on Arweave with the Interplanetary File System (IPFS) to offer tools for creating and sharing memes.

Book of Meme project has a total supply of 68.96 billion BOME tokens. Users can also stake BOME to secure the network and earn rewards.  

BOME tokens succeeded in creating a community that strongly supports the memes from the crypto space. Moreover, the popularity of the creator, Darkfarms’ work also helped to boost the growth of this meme coin and its community base.

4. Popcat (POPCAT)

Popcat (POPCAT) is a Solana-based meme coin project featuring Oatmeal, a short-haired domestic cat whose mouth pops open and closes. The creator has photoshopped the cat meme so that its wide-open mouth resembles the letter 'O.'

This meme coin project also offers an interactive clicker game where the cat, Oatmeal, opens and closes its mouth per user’s click and provides one point per click. Their website also features a live leaderboard showing the highest number of clicks by country to encourage user engagement. 

The maximum supply of Popcat is 979.98 million POPCAT tokens, of which 93.1% are added to the project’s liquidity pool. Moreover, the tokens from the pool are burned to increase the demand for this meme coin.

5. Cat in a Dogs World (MEW)

Cat in a Dogs World (MEW) aims to attract attention to cat-based meme coins from the dominating dog-based tokens like Dogecoin and Shiba Inu. Following its launch in March 2024, MEW gained massive attention from the meme coin community. 

This meme coin project has a total supply of 88.88 billion MEW tokens, 10% of which are distributed to the Solana community through an airdrop. Cat in a dogs world burns 90% of the MEW liquidity tokens to maintain a stable price floor.

This young project has no utility to offer to its community at present. However, the development of the Solana meme coins ecosystem can push developers to add new use cases for MEW token holders in the future.

6. Myro (MYRO)

Myro (MYRO) is a meme coin named after the dog of one of Solana’s co-founders, Raj Gokal. This project is a kind of tribute to Raj, his pet, and Solana’s ecosystem. 

This Solana meme coin aims to be more than just another meme coin by adding more institutions, blockchain fanatics, and consumers to Solana’s growing ecosystem. The maximum supply of this project is 1 billion MYRO tokens. 

The major vision of the Myro project includes:  

• Influencing positive movement of the price of Solana’s native token, SOL.
• Growing the usage and downloads of major non-custodial Solana wallets like Solflare or Phantom.
• Adding more users to explore the charting and trading features of top Solana DEXs like Jupiter, Birdeye, and Raydium. 
• Increasing the number of unique active wallets (UAW) and total value locked (TVL) on the Solana ecosystem. 

This meme coin project also introduced ‘Myro Buy Bot’ to offer updates on trending Solana projects to its community. Also, its Social-Fi mobile app allows users to sell media and images as cNFTs to reward users.

7. Slerf (SLERF)

Slerf (SLERF) project was introduced to create a fun meme coin that engages with the Solana community. This project has a total supply of 500 million SLERF tokens, of which 100% are added to its liquidity pool. 

During the presale of this meme coin, a major mishap led to the burning of SLERF tokens worth $10 million that were supposed to be distributed to the project’s early supporters. Following this unfortunate event, demand for SLERF surged, crossing its market cap of over $750 million right after its launch. 

The openness and honesty that were updated with the community following the token burning were warmly supported by the members, helping the project rise beyond expectations. However, SLERF is a mere community-driven project without any actual use cases.

Conclusion

The demand for Solana meme coins is on the rise based on the advantages of its blockchain. With these meme coins, retail traders and investors can execute trading and investing options with faster transaction speeds, less network congestion, and low fees compared to other major blockchains like Ethereum.

meme coins strengthen the bond among the Solana community members by encouraging active participation in activities like staking, providing liquidity, and more. The welcoming nature of the community encourages Solana developers to launch new meme coins with multiple utilities that enhance the overall strength and engagement of the Solana ecosystem. 

Always do your own research (DYOR) before trading or investing in any meme coins.