The content and materials featured on this page are for educational purposes only. The Solana meme coin frenzy continues, with data showing that meme coins have outperformed SOL in recent weeks. But new presale crypto Slothana looks set to go big next after raising $10 million in under two weeks.
This demand for memecoins has also skyrocketed the network’s on-chain metrics. Adding to the excitement, new meme coins like White Coffee Cat, CatWifHat, and Silly Goose have drastically outperformed SOL today, up 153%, 96%, and 25%, respectively. The same phenomenon is apparent over a longer time scale, with the market-leading Solana meme coin Dogwifhat decisively outpacing SOL since its December 2023 inception.
Even those who bought in since its March Binance listing would be drastically better off than SOL holders. Its initial post-presale pump catapulted it to meme coin stardom, but after a brief pullback, the meme coin has steadily uptrended while SOL remains flat. This represents market participants moving liquidity on-chain to interact with Solana ecosystem meme coins.
Mainly, this comes down to lower fees. The analyst explained, “Solana meme coins made way more millionaires than Ethereum meme coins, and fees are the biggest issue.” He continued, “Some dude on Solana turned $80 to $1M, while to do a single swap on ETH, it costs $80, and if the transaction fails, you still pay the fee. This is the simple reason why retail is going heavy on Solana.”
Indeed, this sets a bullish precedent for new Solana meme coins, the most promising being Slothana.
The project is currently undergoing a presale and has raised over $10 million in two weeks. In the aftermath of Book of Meme and Slerf’s presales, both projects achieved monumental success, with BOME becoming the fastest-ever meme coin to a $1 billion market cap and SLERF overtaking Ethereum in on-chain trading volume. This presents a tremendously bullish outlook for the lazy sloth-themed meme coin.
However, another exciting factor is rumors that the Smog team is behind Slothana. Smog is another Solana-based meme coin that launched in February and soared over 100x to a $200 million market cap within weeks. Wall Street Memes boasts over one million followers and launched a presale last year, which raised $30 million.
However, urgency is kicking in for investors. The presale has already raised over $10 million, so it is seemingly advancing to its later stages. Disclosure: This content is provided by a third party.
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