Solana Continues to Surge As SOL, BOME Trend on Social Media

There’s one project that’s benefitting the most from the current memecoin explosion – Solana. 

Related: Analysts Warn Against MicroStrategy’s Bitcoin Debt Acquisition

Many of the biggest memecoins are built on top of Ethereum (Shiba/Pepe) or their own networks (Doge), but many newer cryptos are leveraging Solana’s impressive transaction speeds and extremely low transaction costs. Because of this, Solana has hurtled toward its previous all-time high, now sitting just ~25% below its 2021 peak. 

BOME and Dogwifhat Lead the Way

Solana has been home to three of the biggest meme coins of the current market rally. While Dogecoin and Shiba are cultural staples and will likely hold their positions in the top 100 coins by market cap, their gains have been dwarfed by that of the SOL-based memecoins. Just check out some of these numbers:

The Book of Meme (BOME), the newest contender for trendiest memecoin, has been perhaps the most explosive of all. Despite being airdropped less than a week ago, the crypto has already been listed on Binance, gained 1,730% since inception and plans are in the works for a leveraged token pairing on the exchange.

This surge has seen both BOME and SOL receive a mound of hype across social media. This trend of memecoins successfully launching on the Solana network bodes well for its future, as the protocol attempts to dethrone the King of DeFi, Ethereum. 

Related: AI and Memecoins Lead Rally, WIF, RNDR Top Gainers

Memecoins aren’t the be all and end all of the crypto world, but Solana’s cheap and fast consensus mechanism is naturally suited to high-supply and lower-value coins. There’s a good chance that future meme projects will start prioritising Solana over Ethereum as their preferred building block.