The market capitalization of memecoins on Solana exceeded $10 billion.
Among the most popular are Dogwifhat, Bonk and PopCat.
Today, October 12, 2024, the market capitalization of the memecoins of the Solana ecosystem exceeded 10.2 billion dollars. This capitalization was $2 billion below the market capitalization of ADA, Cardano’s native cryptocurrency and one of the most popular in the cryptocurrency ecosystem.
A third of the figure achieved by these tokens based on pets, public figures or Solana internet memes occurred during the last 24 hours, with almost 2.3 billion dollars.
That is to say that, doing a little mathematics, this statistic of the memecoins of Solana would have to increase only 8.69 times that figure from the last 24 hours to finish surpassing ADA.
Memecoins keep Solana standing
It could also be noted that the market capitalization of the currencies meme Solana was $1.5 billion behind AVAX, the native utility cryptocurrency of the Avalanche network.
While the total value of a network, like Cardano’s, is true, it is not completely given by the market capitalization of its token native, this reference can be used to understand the growing user interest in memecoins from Solana.
Among the memecoins most operated, and reviewing the statistics in CoinMarketCapthese four tokens Dogwifhat (WIF), The Graph (GRT), Bonk (Bonk) and PopCat (POPCAT) accumulate more than 7 million dollars in market capitalization.
In turn, POPCAT presented a rise in its price of almost 16% in the last 24 hours, which could be one of the fundamentals behind the 2,000 million dollars accumulated in the last day by the total of the meme.
Furthermore, the token WIF in the last seven days grew by 20%, boosting this figure.
While most narratives and metrics on Solana seem muted, over the last seven days user interactions with the Solana ecosystem memecoins on this network it increased by 16%, as reported by CriptoNoticias.
In this way, the Solana ecosystem is being strongly promoted by the use of memecoinscreated mostly within the Pump.fun platform. Aside from the fact that the combined market capitalization of these memes helps to understand their economic position within the cryptocurrency ecosystem, their usefulness is far from equal to the cryptocurrencies of large networks such as Cardano or AVAX.
