Solana has become a hub for meme coins, with hundreds launched weekly on its high-throughput blockchain. Blazing speed and scalability make Solana a good choice for creating meme coins. More and more of them appear on this blockchain, with some experiencing explosive growth and garnering a huge fan base.

With a plethora of Solana-based meme coins in the market now, identifying those with high potential is becoming increasingly challenging.

While future success is not guaranteed, we have hand-picked five Solana-based meme coins that have gained traction, along with reasons why they might be worthy of attention in 2024.

Important Disclaimer: While the below-listed meme coins are selected based on trading activity and popularity, their listing does not constitute investment advice. Carefully evaluate your risk appetite and do your research on the listed coins before making any investment decisions.

Best Meme Coins on Solana to Watch in 2024

• Dogwifhat ($WIF)
• Bonk ($BONK)
• BOOK OF MEME ($BOME)
• Wen ($WEN)
• Cat in a dogs world ($MEW)

Dogwifhat ($WIF)

Launched in November 2023, Dogwifhat ($WIF) achieved early success, surpassing every other Solana-based meme coin in market capitalization within just a few months. With a current market cap of $3.37 billion, the dog-themed meme coin is the third-largest in the market, which places it next in line after Dogecoin ($DOGE) and Shiba Inu ($SHIB).

There is more. The token has secured listing from prominent cryptocurrency exchanges including Binance, OKX, and Bitget. This has helped propel its value, with a more than 1,600% increase since the beginning of the year. What’s more, the market cap of $WIF has also skyrocketed up to $4 billion at one point.

While this meme coin project doesn’t offer any utility now, chances are high that the team behind ‘a dog wearing a pink knitted cap’ will come up with some future development plans. $WIF has an active social media presence with over 80K followers on X (Twitter). This cute meme token unstoppably captures the minds, hearts, and wallets of the community.

The coin’s massive growth, exchange listings, early success, and strong community suggest there’s a lot of excitement behind the project. Its position as a top meme coin on Solana makes it one to watch for continued potential.

Bonk ($BONK)

Bonk ($BONK), created in December 2022, is one of the first dog-themed meme coins to appear on Solana. $BONK was launched as a Christmas gift to the Solana community. 50% of the total supply was distributed as a gesture of thanks to Solana users who helped to grow the network.

The project developers created $BONK with one main goal in mind: restore liquidity in Solana-based decentralized exchanges (DEXs). Offering a range of utilities, $BONK is a community coin that can be used across all decentralized applications (dApps) on Solana. Moreover, $BONK has wrapped tokens across ten blockchains and is integrated with 110 dApps.

This dog-themed SOL meme coin, with a max supply of 100 trillion, quickly garnered a massive following, boasting over 700K holders and a $1.3 billion market cap at the time of writing. At one point, its market cap reached $2 billion after its price skyrocketed by 102%.

$BONK is currently trading on multiple prominent exchanges, including Binance and Coinbase. It also boasts a huge following, namely 50K followers on X.

There are no obvious signs why Bonk could lose his popularity and stop growing. Its utility, metrics, and focus on community engagement might only fuel further project’s growth.

BOOK OF MEME ($BOME)

With a name that perfectly captures the essence of the meme coin phenomenon, BOOK OF MEME ($BOME) is a unique combination of memes, trading, and gambling. It rose to prominence in March 2024 within just 48 hours after its launch, taking the 81st position on CoinMarketCap and reaching a billion-dollar market cap. Token’s listing on major exchanges, including Binance and Bybit, also contributed to the heightened interest in $BOME and its accessibility.

Well, $BOME holds the record for the fastest meme coin to reach a $1 billion market cap, showcasing its explosive potential. The Solana-based memecoin boasts an engaged community on X and a well-defined roadmap to establish it as a leader in the meme coin space. Currently, it has over 27,000 token holders, a market cap of $589 million, and a circulating supply of 55.2 billion coins.

$BOME has demonstrated itself as a prominent player in the market, with a solid intention to grow and become a leader in the meme coin space. Its unique nature, features, and community support can’t but spark intrigue among investors worldwide.

Wen ($WEN)

Launched in January by the anonymous founder of the Jupiter exchange, Wen ($WEN) stands out among other meme coins on Solana due to its features.

$WEN is based on a fractionalized NFT of a poem by Jupiter’s founder also known as Meow. The poem was split into a trillion pieces using technology from Ovols. These pieces are the $WEN tokens and represent proportional ownership in the poem.

The project gained popularity due to a massive airdrop to over a million Solana wallets in January. This decision highlighted WEN’s dedication to its community which later worked out so much in the meme coin’s favor.

One core aspect of $WEN is its token burn plan. Unclaimed tokens post-airdrop were burned, thereby potentially reducing the token’s supply and increasing its value this way. There have also been speculations that the token is poised to secure a listing from Coinbase, which could help boost its price.

In March 2024, WEN’s price reached an all-time high (ATH), making this project one of the Solana-based meme coins with explosive potential. $WEN has a current circulating supply of 727.7 billion coins of a total supply of 1 trillion coins. There are 233.59K holders and its market cap is $179.75 million at the time of writing.

Cat in a dogs world ($MEW)

Cat in a Dogs World ($MEW) is the first cat-themed challenger to the dominance of dog-themed meme coins. The coin features a heroic cat fighting a fictional oppressive dog regime in a city.

Since hitting the market in March 2024, $MEW has garnered significant attention, with over 200,000 wallets currently holding the token. In addition, the coin has skyrocketed over the past few weeks, helping propel its market cap to around $500 million.

This momentum shows no signs of slowing down as $MEW currently holds the top spot as the hottest token on the real-time DEX activity tracker, DEXTools.

The MEW market cap currently stands at $455 billion, and the fixed supply is 88.9 billion coins. The token also has an active social media presence, with more than 50K followers on X.

$MEW is a promising meme coin with a strong community and impressive initial growth. Its recent price increase suggests there’s still room for further gains.

Conclusion

The meme coin space can be exciting and lucrative, but also risky. While the five Solana meme coins mentioned in this article – $WIF, $BONK, $BOME, $WEN, $MEW – have all shown explosive potential, it is important to remember that their future remains uncertain. Despite its volatile nature, meme coins will most likely continue to be a subject of keen interest of investors.