Bittime - Meme coins are making a comeback, with Bonk (BONK) seeing a price spike of over 20% in the last week. Along with BONK, other Solana-based tokens such as Book of Meme (BOME) and Popcat (POPCAT) have also surged since last Monday. The following is a review of memecoin observations by coinpedia.
Now, crypto traders are looking for the next potential boom in meme coins on Solana – with Slothana (SLOTH) emerging as a leading contender.
BONK Token Surge After Rejecting Key Support Level
BONK has become the meme coin on everyone's mind in the past few days.
The token price has surged, now trading around $0.000020 after a sharp rally over the weekend.
This price point represents BONK's highest valuation since April 12.
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One of the main catalysts for the token's rise was an aggressive rejection of support around $0.0000137.
This support level has held strong several times in the last week and served as a spring to launch BONK higher.
As a result, BONK has been placed into the top five most traded meme coins based on spot volume across all exchanges.
Adding to the excitement is a new proposal from Bonk DAO to burn nearly 280 million tokens from their treasury wallet.
That represents 100% of BONK tokens sent to the DAO from BonkBot since its launch.
Scarcity games often lead to price rallies in the meme coin space – so the idea of a massive token burn might trigger a BONK rally.
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Solana-Based Meme Coins Become Popular After Network Update
It's not just BONK that has been making profits for meme coin traders lately.
Several other Solana-based tokens have also become popular over the past week.
Book of Meme (BOME) is one example, with the token surging 14% in the last seven days.
Slerf (SLERF) joins the party with a 4% price jump.
However, the biggest gainer among Solana's established meme coins is Popcat (POPCAT) – which has gone parabolic with an 88% spike.
POPCAT's explosive moves have even launched it into the top ten most traded meme coins based on spot volume over the past 24 hours, currently ranking 8th.
While retail trader speculation likely fueled some of this rally, there may also be a more fundamental reason for the meme coin's strength.
Blockchain Updates to Reduce Congestion
Last week, Solana developers rolled out a blockchain update to combat persistent congestion issues that have plagued the network recently.
This update seems to have reignited trader interest in the Solana meme coin space.
Slothana Poised to Rock the Solana Meme Coin Ecosystem After DEX Launch
While BONK and other Solana meme coins have been racing higher, one new project could soon give them all a run for their money – Slothana.
Although not yet listed on DEX, this sloth-themed Slothana has sparked a frenzy thanks to its cute presale model and social media marketing.
By allowing investors to simply send SOL to a specified wallet address in exchange for SLOTH, the Slothana team has managed to raise over $10 million in just a few weeks.
It's a simple yet genius tactic that has resonated with the “degen crowd,” always hungry for the next viral token launch.
But it's not just the presale model that has these traders excited.
Slothana's mascot, a relatable sloth office worker dreaming of crypto riches, has become a meme sensation on crypto Twitter.
Also Read How To Buy Crypto:
SMOG Developer Behind Slothana?
If there's one thing retail investors love, it's a cute character they can get behind – and Slothana seems to have captured that X-factor.
Rumors that the team behind the highly successful meme coin Smog (SMOG) is somehow involved in the Slothana project adds to the hype.
Whether the rumors are true or not, the association alone gives Slothana an aura of credibility in the eyes of many traders.
And with the DEX launch scheduled to happen next week, SLOTH could potentially leave BONK and its fellow meme coins in the dust.
Those wishing to purchase SLOTH tokens before the DEX launch can do so at slothana.com.
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How to Buy Crypto from Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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