NFT
Solana Meme Coins Outperform Ethereum-Based Tokens by 800% YTD
Thursday. July 4 at 9:30 AM
1 min. readAccording to reports from H1, meme coins based on Solana have shown an impressive 800% outperformance compared to their Ethereum-based counterparts this year. In the CoinMarketCap 2024 H1 report, meme coins were identified as the most popular asset class, holding a 22% market share. The Solana ecosystem has been leading the charts for the past eight months, followed by Ethereum and AI tokens. Amidst the meme coin surge, Solana holds a 9.64% market share, with coins like Dogwifhat (WIF) seeing a 12.34% surge in the last 24 hours. The report also noted that newer SOL memes have outperformed ETH memes, with an average return of 8,469% compared to 962%. Celebrity endorsements and influencer promotions have also played a role in boosting Solana meme coins, although they have also attracted scams targeting celebrity accounts.