Solana Meme Coin Plunge
The Solana meme coin mania that exploded in December has taken a turn for the worse, with the platform’s two top tokens, Bonk (BONK) and Dogwifhat (WIF), plummeting.
The Bonk price, which surged over 1,000% last month, has dropped 23% in the past week, while Dogwifhat has plunged 53% over the same period. It has fallen 74% from its ATH on December 15.
Mania Followed by Plummet
Bonk had earned a place among tier-one trading platforms after gaining listings on exchanges including Binance, KuCoin, and Coinbase. Its market cap soared to $778 million but has since plunged to $659 million, although it remains the third-largest meme coin.
Don’t Despair if You’ve Invested in Solana Memes
There is still hope for Solana-based meme coins. Myro (MYRO) has surged 196% in the past week and is up 12% in the past day to trade at $0.07061 as of 8:16 a.m. EST.
Another meme coin that’s been standing out is Sponge, with an 84% surge in 24 hours and an increase of 115% in the past week to trade at $0.0008873 at 8:16 a.m. EST.
Sponge and Its Potential
One thing noteworthy about the Sponge token is that Tron founder Justin Sun is a holder. He has triggered speculation over whether he will buy and stake more of the token as it moves from Sponge V1 to the new. Sponge has also been listed among the best meme coins to invest in.
A New Mining Platform for Bitcoin
New Crypto Mining Platform – Bitcoin Minetrix provides audited, secure cloud mining that allows you to earn free Bitcoin daily. Its native token, BTCMTX, is on presale now, offering staking rewards of over 100% APY.
Hot Take: Still Hope for Solana-Based Meme Coins
While the two top meme coins on the Solana platform have experienced significant plunges, there is still hope for Solana-based meme coins, with Myro and Sponge showing potential to yield returns. Additionally, the launch of the new mining platform, Bitcoin Minetrix, brings new opportunities for potential Bitcoin earnings. It is essential to carefully consider all options and conduct thorough research before investing in any meme coins.
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