The Current State of Meme Tokens
The top tokens of the meme category continue to bleed, highlighting a negative price action of these tokens currently in the crypto space. Moreover, top tokens have recorded a correction of over 10% in their respective portfolio, indicating an increased selling pressure in the crypto industry.
On the other hand, memecoins on the Solana ecosystem have displayed a significant correction over the past seven days, indicating a strong bearish reversal in the crypto industry. Top tokens such as BONK and MYRO have each recorded a correction of 6.50% and 20%. Positively, the WIF tokens display an upward trend in the chart.
Top Solana-Based Meme Coins
Smog (SMOG)
Smog (SMOG) is another sensational Solana-based memecoin that is on the path of gaining massive price action this year. Further, this project has been speculated to be a potential upcoming 100X gem of the Solana ecosystem. The Smog token had made its first appearance with a massive airdrop of 35%.
- Price: $0.2005 per token
- Circulating Supply: 778,999,968 tokens
- Market Cap: $155,878,155 Million
With the potential to be listed on the Binance exchange, the Smog price is predicted to experience massive action this year.
Loaf Cat (LOAF)
The LOAF token is a Solana-based project that was created with the vision of becoming the Meme For All Humanity token. It is presently handling multiple projects, which include gaming and payment solutions that have the potential to make a significant difference in the industry.
- Price: $0.000207 per token
- Market Cap: $21.31 Million
- Circulating Supply: 100 Billion tokens
Myro (MYRO)
The Solana ecosystem continues to gain significant attention from the cryptocurrency industry due to its increased price volatility. The MYRO token gained massive attention from the market following its launch, which resulted in it recording a surge of approximately 1,250%.
- Price: $0.3085 per token
- Market Cap: $291,373,030
- Circulating Supply: 944,203,815 tokens
- Total Supply: 999,981,491 tokens
Conclusion
The memecoin category continues to record a mixed sentiment, highlighting uncertainty in the future price action of the industry. Further, the hype of Solana-based tokens continues to increase, indicating a positive outlook for the price in the long term perspective.
Note: Investing in this category is a high-risk investment as memecoins are highly volatile and are popularly known to display massive price movements in their respective portfolios within a short period. Make sure to do detailed research before investing in any digital asset.
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