Crypto Meme Coin Prices Explode: Dogwifhat Jumps 418% Whilst Smog SOL Token Soars 112%
Monday, March 4th, 2024 – Crypto meme coins prices are exploding: Pepecoin (PEPE) is up 325% over the past seven days, Dogwifhat ($WIF) 418%, Shiba Inu (SHIB) 128% and new Solana meme coin Smog airdrop (SMOG) is up 75%.
Overall the market capitalization of the meme coin sector has advanced 15% over the past 24 hours alone, to clock in at $46 billion.
There are no signs of the buying frenzy easing. Dogwifhat’s price has risen 46% in the past 24 hours – with Dogwifhat’s gains indicative of the continuing allure of Solana meme coins and augurs well for $SMOG.
So too does the stellar performance of another newcomer, PepeSol, which has gained 1,075% in the past few hours.
Like PepeSol, Smog is a SOL meme coin, which looks to be the blockchain the smart money is gravitating to in this red-hot market.
Altcoin season is well and truly upon us and what market participants new to the game need to appreciate is that when bitcoin races towards a new all-time high at the speed it is currently doing, then it is catch-up time down below.
The place where buyers are doing most of the fishing to catch top ROI is among the alpha-rich meme coins.
Still, there are at least two other factors in play that new coins like Smog have going for them that older meme coins don’t.
First, there is the Solana factor. Despite teething problems with its blockchain, SOL is standing tall and attracting more and more activity, with meme coins the latest to jump on board.
According to DappRadar Solana is the busiest blockchain in the past seven days when measured by transaction volume. It rang up 98 million transactions compared to Ethereum’s 1.2 million.
By a country mile, Solana is a faster and cheaper Layer 1 to run on than Ethereum, and indeed many other
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