The year 2023 is likely to be remembered as the year when meme coins really took off in the world of cryptocurrency. Investors no longer have to pick only between Dogecoin and Shiba Inu, as a whole host of other options have now entered the market.
Smog, Bonk, and NuggetRush are the market’s current highflyers, fueled by blockchain software and platforms that help ordinary members of the public access cryptocurrency with ease. Solana is one such blockchain, and its versatility has meant almost anyone can use it to conduct online transactions with crypto. For instance, those who enjoy gambling can play at a Solana casino using SOL, the platform’s native cryptocurrency.
While Solana continues its tumultuous existence (the platform is never far away from an outage, having experienced several notable ones already during its short life), there is still one aspect of it that consistently overachieves: the meme coins.
Some of the top-performing meme coins on the Solana network include:
Smog (SMOG)
Bonk (BONK)
Myro (MYRO)
Dogwifhat (WIF)
Myro and Dogwifhat have enjoyed great success over the past year on Solana’s platform. Bonk also had a staggering year, rising by over 1300% in 2023. But it is looking increasingly likely that 2024 will be the Year of the Dragon in more ways than one as Smog seeks to replicate the success of the other Solana-based meme coins.
Since its creation at the beginning of 2024, the meme coin’s value has surged dramatically, increasing by 3000% in its first three days alone. Backed by a promise of significant airdrops, Smog aims to reward early investors, so jumping on the dragon’s back now may not be as bad an idea as it sounds.
Some experts and crypto millionaires are even saying that Smog could see a 4600% ROI by the end of 2024. This is, in part, due to the fact that 50% of Smog’s budget is allocated to marketing. Since meme coins thrive on virality, this may prove to be a wise move and one that could significantly increase Smog’s value by the end of the year.
Bonk is another meme coin that could be worth an investment for 2024. Looking to build on its success from the previous year, this Solana-based cryptocurrency remains highly coveted thanks to prospective partnerships that could further boost its value. For instance, the coin is all but set to partner with Revolut, a titan of fintech, which would dramatically increase the market value of Bonk.
It seems that 2024 will be the year to invest in meme coins. Solana-based meme coins have a history of overachievement, and it is looking increasingly desirable to invest in currencies like Smog, Bonk, and Myro. That said, always remember to analyze the benefits and potential pitfalls before investing in crypto.
