The existence of the top 6 memecoins in the Solana network; PNUT’s 4-digit growth made news!

Solana-based memecoins are taking advantage of this network to challenge altcoins and change the market. Since their inception, memecoins have become a distinct asset class and are no longer considered highly volatile tokens.

In the meantime, Solana, as one of the prominent hosts of these assets, has been able to attract a lot of attention. Currently, 6 of the top 13 memecoins by market cap, including DogWifeHat (WIF), Bank (BONK), Peanut (PNUT), PopCat (POPCAT), Mew (MEW), and Gottius Maximus (GOAT) are on Solana network operates.

In the same vein, Solana founder Anatoly Yakovenko has praised memecoins for increasing network bandwidth and competing with Ethereum.

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However, in the last 24 hours, the Mimcoin market has been facing problems. On the flip side, altcoins have recaptured the market’s attention, and concerns about volatility and lack of real-world applications for mimecoins have been raised again.

This has caused the long-term value of memecoins to be discussed once again.
However, some memecoins have still managed to perform strongly. For example, Solana-based memecoin Peanut has seen a dramatic, quadruple-digit jump in the past 30 days.

These memecoins take advantage of Solana’s high throughput to speed up transactions and take away from the common skepticism about meme tokens.

It is noteworthy that the market value of Solana memecoins has reached 20 billion dollars, which has been accompanied by a growth of 3.6% in 24 hours. The volume of transactions has also increased to 7 billion dollars.

Solana’s memecoins not only provide entertainment, but also provide investors with additional uses using blockchain technology.

While analysts continue to debate whether memecoins can outperform altcoins; It must be said that each asset class has unique characteristics that distinguish it from others.

Finally, the strong performance of PINAT and the growth of Solana memecoins may indicate the return of the bullish trend.