Solana Meme Coins Outperform Bitcoin and Ethereum, Analyst Forecasts Continued Surge

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Meme coins on the Solana blockchain have been leaving an indelible mark on the cryptocurrency circuit, outmaneuvering behemoths like Bitcoin and Ethereum in unprecedented fashion in recent times.

Perhaps one of the most astonishing examples is Bonk Inu (BONK), which has rocketed to almost a 7,000% increase this year alone. This exceptional rise has set financial circles buzzing, with analysts eagerly anticipating the ripple effects that could be set off by the potential approval of Solana Exchange-Traded Funds (ETFs) in the United States. Brought forward by asset management firms VanEck and 21Shares, these ETFs, many believe, could be a much-needed shot in the arm for these crypto tokens. Leading market expert Leshka is vehemently supportive of this perspective.

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In a recent perusal of the market landscape, Leshka threw light on the growing dominance of Solana memes in this trading cycle. Moreover, the anticipation of the growth potential of these memes is set to spike if the U.S. Securities and Exchange Commission (SEC) grants a green light to the Solana ETF market.

However, we would be remiss if we didn’t delve into some of the Solana-based meme coin top players causing a stir. Among these, Leshka first unpacked the rising popularity of the feline-inspired meme coin POPCAT, which has pounced on a 55% price increase in a mere fortnight. POPCAT currently trades at an encouraging $0.448, establishing it as the fourth largest Solana meme coin with a confident market capitalization of $441 million. Despite lacking explicit intrinsic value, Leshka applauds the strong community backing the coin, marking it as a noteworthy mid-cap meme coin in the Solana arsenal.

The michi token, another feline-inspired meme coin, was also under Leshka’s scanner. With the impending release of MichiSwap, michi non-fungible tokens (NFTs), and the michi NFT Marketplace, a spike in the price of the michi token can be realistically expected in the ensuing months, according to the analysis.

Also commanding significant attention in the meme coin arena is Bonk Inu. With a 20% price increase in two weeks and currently trading at $0.00002413, Bonk Inu presents an interesting case. Originally rallying behind the Solana community, Bonk Inu has broadened its user base and firmly entrenched itself in decentralized finance (DeFi), integrated into cross-chain messaging protocols and NFT marketplaces – factors Leshka believes could potentially boost its prospects for future gains.

Shifting gears, Leshka also spotlighted on Dogwhifhat (WIF), currently the most significant Solana-based meme coin in market capitalization with a staggering accumulation of over $1.6 billion in record time. Despite a recent 40% dip in price, Leshka affirms that Dogwhifhat represents a futuristic approach to transactions and appeals to forward-thinking individuals.

Turning attention to the political meme coin scene, Leshka emphasized particularly on those related to U.S. politicians. These meme coins are gaining considerable traction with the forthcoming November elections. The expert highlighted OBEMA, a Michelle Obama-inspired meme coin, as risky due to the lack of inherent value or predicted gains. However, Leshka noted that a sudden exit of Joe Biden from the presidential race could lead to returns in the realm of 10x-20x. Leshka further drew attention to BODEN, a meme coin dedicated to Joe Biden, which, despite a decrease in popularity, could enjoy a turnaround in the event of Biden securing a win in the November elections.

Finally, the native token of Solana, SOL, while suffering a 13% monthly dip recently, was still trading at $138.70 at the time of reporting. Despite this downturn, SOL has notched up an impressive 540% increase year-to-date, underlying the dynamic nature of the Solana ecosystem.