Meme Coins on Ethereum
Ethereum has gained a reputation as the hub for meme coins, with several notable ones originating from this blockchain. Shiba Inu, in particular, remains the largest meme coin on Ethereum and boasts a market cap of $6.3 billion. Despite the influx of thousands of meme coins, SHIB continues to hold its position as a prominent player.
Solana Welcomes New Found Volume
The Solana ecosystem has recently become a popular destination for meme coins, and investors have shown great interest in this blockchain. One standout meme coin on Solana is Dog With Hat (WIF), which experienced an incredible surge in value. Its market cap skyrocketed from under $100,000 to over $300 million within a month. The altcoin has even been listed on centralized exchanges like MEXC and Crypto.com.
Arbitrum Welcomes New Meme Coins
On the Arbitrum blockchain, NOLA has emerged as a prominent meme coin with support from the Arbitrum team. Although it reached an impressive market cap of almost $20 million at one point, its price has since fallen by more than 50%. Currently, NOLA sits at a $5.8 million market cap with an average daily volume of around $500.
AVAX Rally Breathes New Life Into Avalanche
The Avalanche network experienced a significant drop in price this year, but it has managed to regain attention from investors. Meme coins have also become popular on Avalanche, with COQ Inu leading the pack. Although its market cap reached $200 million before retracting, it still stands at around $180 million with a daily volume of $4 million.
Optimism Meme Coins Are In
Investors are exploring other chains, and Optimism has been one of the contenders. The top-performing meme coin on Optimism is currently TUX, although it hasn’t seen a rally like those on other chains. Nonetheless, TUX managed to increase its market cap from under $1 million to around $4 million before retracing. It currently sits at a $1.7 million market cap with a daily volume of almost $300,000.
Hot Take: Meme Coins Continue to Thrive Across Blockchains
Meme coins have become an integral part of the crypto investing landscape across various blockchains. While Ethereum remains the king of meme coins, other chains like Solana, Arbitrum, Avalanche, and Optimism have also seen the rise of prominent meme coins. Despite their volatile nature, meme coins have attracted significant attention from investors and have delivered impressive returns for some. As the popularity of meme coins continues to grow, it will be interesting to see how they evolve and shape the crypto market in the future.
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