Crypto Analyzer

These Solana Meme Coins Exploded Weekly

The Solana network has been making waves in the cryptocurrency world, with a surge in both price and network activity. Last week, two popular meme coins, WOOF and BORK, built on the Solana blockchain, caught the spotlight with significant gains.

WOOF, a meme coin aiming to become the most decentralized meme/social token in the Solana ecosystem, experienced a 70% surge, reaching a trading volume rise of 30% and currently trading at $0.00014. The coin, which stands for “We Own Our Future,” emphasizes its community, with active participants leading the protocol’s trajectory.

On the other hand, BORK, inspired by the viral internet meme “Bork” from 2013, closed the week at $0.0006142, showing a 50% surge. The project aims to establish itself as a top memecoin within Solana and create a sustainable community of retail investors. Notably, a trader achieved substantial gains of approximately 2,250 SOL – around $245,000 – in just five days following an initial investment of 4 SOL shortly after discovering BORK only 10 minutes after its launch.

In addition to the meme coin frenzy, the Solana network itself has seen significant growth, with the SOL token reaching $110 and its ecosystem recording $1.85 billion in total value locked (TVL) – a number not seen since mid-2022. This resurgence marks a nearly 500% increase in TVL since October 2023, indicating the rapid growth of the Solana DeFi ecosystem.

The recent performance of these Solana meme coins reflects the increasing interest and activity within the Solana ecosystem, drawing attention to the network’s potential for further growth and development in the crypto space.