Solana-based meme cash have emerged as notable contenders within the crypto market, outperforming the biggest cryptocurrencies equivalent 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 america, is seen as a possible catalyst for these tokens, based on market skilled Leshka.
In a current analysis, Leshka defined that Solana memes have develop into the dominant narrative of this market cycle, elevating expectations for his or her potential progress following a possible Solana ETF market approval by the US Securities and Alternate Fee (SEC).
High Solana Meme Cash To Watch
Leshka began by depicting cat-based meme coin POPCAT, which has recorded a 55% worth enhance 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 related mid-cap memes on Solana, highlighting a “robust group” regardless of missing intrinsic worth.
Subsequent, Leshka highlighted the MICHI token, one other cat-based meme coin within the Solana ecosystem. In accordance with 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 enhance prior to now fourteen days, at the moment buying and selling at $0.00002413.
Leshka highlighted how Bonk Inu, which initially supported the Solana group, has expanded its person base and built-in into decentralized finance (DeFi), cross-chain messaging protocols and NFT marketplaces as key to its progress prospects, positioning Bonk Inu as one other meme coin with the potential for additional positive aspects.
Political Meme Cash
Transferring on, Leshka spotlighted Dogwhifhat (WIF), at the moment the highest Solana-based meme coin available in the market cap, which has amassed over $1.6 billion in document 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 based mostly on the Solana ecosystem, particularly these associated to US politicians, which have gained important traction because the upcoming November elections method.
Leshka famous OBEMA, a meme coin that includes Michelle Obama, as a “dangerous play” missing inherent worth or anticipated monetary acquire. Nevertheless, the analyst identified the potential for a 10x-20x return if Joe Biden have been to go away the presidential race.
Leshka additionally talked about BODEN, a meme coin that includes Joe Biden. Though its recognition has waned, an “surprising occasion” within the race for the White Home may give it a remaining enhance, 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