Solana Meme coin Mania Far From Over as This New Contender Explodes 10x in 3 Days

The hype for Solana meme cash just isn’t cooling down quickly after dogwifhat (WIF) hit a milestone on Friday. In the meantime, one other animal-themed token is exploding in value.

A brand new contender within the meme coin sector is catching merchants’ consideration —”cats in a canines world” (MEW). Per knowledge from CoinGecko, MEW rallied over 120% on Friday, reaching $513 million in market capitalization in simply 48 hours of buying and selling. The weekend noticed much more beneficial properties, as MEW went as excessive as $0.008, and its market cap soared previous $700 million.

Help From Hayes

Furthermore, the token might need gained an uptick in reputation after it was endorsed on X by Arthur Hayes, founding father of BitMex.

I went into the kitty litter tray and located $MEW

Meow bitches. 😘😘😘😘😘 pic.twitter.com/rg6HYPPQQd

— Arthur Hayes (@CryptoHayes) March 29, 2024

It’s not the primary time we’ve seen new meme cash on Solana explode in value just some days after being launched. This new development has sparked each curiosity and criticism from the crypto neighborhood, which argues that these property and their inherent reputation outshine initiatives with utility tokens and a roadmap.

One in every of these controversial tokens is Slerf (SLERF), which was caught up in a wave of criticism after its developer “by accident” burnt $10 million price of funds raised from traders at a presale.

Nevertheless, SLERF stays the fourth-biggest meme coin on Solana, with a market cap of effectively over $400 million.

WIF Dethrones PEPE

On different meme coin information, WIF continues to make headlines. As CryptoPotato reported, WIF reached a milestone on Friday after surpassing $4.25 billion in market capitalization, changing into the third-largest meme coin and flipping Pepe (PEPE).

At press time, WIF had elevated its value by 90% weekly, buying and selling at $4.28. What’s extra spectacular is WIF’s efficiency on a month-to-month scale, because it recorded a rise of almost 450%.

In the meantime, Solana’s native coin SOL closed Saturday with a 4% surge, placing its value above $195. As SOL shows promising weekly and month-to-month charts, one analyst believes SOL’s subsequent value goal could possibly be $300 after the Bitcoin halving.