Solana-based meme cash have emerged as notable contenders within the crypto market, outperforming the biggest cryptocurrencies akin to Bitcoin (BTC) and Ethereum (ETH) in current months.
With cash like Bonk Inu (BONK) hovering almost 7,000% year-to-date, the potential approval of Solana ETFs filed by asset managers VanEck and 21Shares in the US, is seen as a possible catalyst for these tokens, based on market professional Leshka.
In a current evaluation, Leshka defined that Solana memes have grow to be the dominant narrative of this market cycle, elevating expectations for his or her potential development following a possible Solana ETF market approval by the US Securities and Trade Fee (SEC).
High Solana Meme Cash To Watch
Leshka began by depicting cat-based meme coin POPCAT, which has recorded a 55% worth improve prior to now two weeks.
At the moment buying and selling at $0.448, POPCAT is the 4th largest meme coin on Solana with a market capitalization of $441 million. Leshka considers it one of the vital related mid-cap memes on Solana, highlighting a “sturdy neighborhood” regardless of missing intrinsic worth.
Associated Studying
Subsequent, Leshka highlighted the MICHI token, one other cat-based meme coin within the Solana ecosystem. Based on the analyst, the upcoming launch of MichiSwap, Michi non-fungible tokens (NFTs), and the Michi NFT Market may catalyze additional worth will increase for MICHI within the coming months.
Bonk Inu, one other meme coin that has gained important consideration in current months, was additionally talked about by the analyst, which has recorded a 20% worth improve prior to now fourteen days, at the moment buying and selling at $0.00002413.
Leshka highlighted how Bonk Inu, which initially supported the Solana neighborhood, has expanded its consumer base and built-in into decentralized finance (DeFi), cross-chain messaging protocols and NFT marketplaces as key to its development prospects, positioning Bonk Inu as one other meme coin with the potential for additional features.
Political Meme Cash
Shifting on, Leshka spotlighted Dogwhifhat (WIF), at the moment the highest Solana-based meme coin out there cap, which has gathered over $1.6 billion in report time.
Leshka believes that Dogwhifhat “symbolizes progress in futuristic transactions” and is a beacon for “forward-thinking people.” Nonetheless, the token has recorded a steep worth drop within the month-to-month timeframe of almost 40%.
Lastly, the analyst highlighted political memes primarily based on the Solana ecosystem, particularly these associated to US politicians, which have gained important traction because the upcoming November elections strategy.
Leshka famous OBEMA, a meme coin that includes Michelle Obama, as a “dangerous play” missing inherent worth or anticipated monetary achieve. Nonetheless, the analyst identified the potential for a 10x-20x return if Joe Biden have been to depart the presidential race.
Leshka additionally talked about BODEN, a meme coin that includes Joe Biden. Though its recognition has waned, an “sudden occasion” within the race for the White Home may give it a remaining increase, particularly if the president manages to win the election in November.
Solana’s native token SOL was buying and selling at $138.70 when writing, down over 13% month-to-month, however up 540% year-to-date.
Featured picture from DALL-E, chart from TradingView.com