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Solana meme coins have been leading the charge in this bull run as degens shifted from Ethereum and BNB to Solana, which offers lightweight transactions and low transaction fees.
The Solana meme coin market cap sits at over $8 billion now. However, over the past 24 hours, leading Solana meme tokens have dipped in price. BOOK OF MEME and dogwifhat have both slumped almost 10%. Investors have started casting their nets for the next big Solana meme coin to go viral, and one seal-themed project, Sealana (SEAL), has caught their eye.
Dogwifhat drops after whale movements spark volatility
Solana-based meme coin dogwifhat has been a breakout star this year after launching in November 2023. Listed on DEXs initially for $0.000001366, it soon skyrocketed to $0.0352 by the end of 2023 — a 23 million percent increase. By March, it had passed the $4 mark, and early investors had enjoyed huge returns on their investments.
Since then, the token has struggled to regain the highs of March due to severe price volatility. We’ve seen lows of $2.40 and highs of $3.50 several times in recent weeks.
Two days ago, Dogwifhat saw a major price surge, rushing from $2.80 to over $3.20 after two major buyers spent more than $2 million. However, this price jump was short-lived when a whale sold $2.36 million worth of WIF.
This has started a downward spiral, and the token is currently sitting around $2.75 after a 105 drop since yesterday.
BOOK OF MEME struggles to return to previous highs
BOOK OF MEME (BOME) has undergone similar price movements over the past day, with a 9.24% drop. Like dogwifhat, BOME has a meteoric rise after it launched. It was listed on Raydium in March at a price of $0.0001341. Two days later, the token was valued at $0.0238, a 21,000% increase, and had reached a market cap of $1 billion.
Although it is a relatively new token, BOME has already been listed on KuCoin, Gate.io, MEXC, and Binance. It’s attracted both crypto whales and everyday investors, with one crypto whale holding $10 million worth of BOME.
However, it’s now struggling to reach previous highs, and its market cap is just over $800 million. The token has dropped almost 10% in the past 24 hours to a value of $0.01212.
With this drop in leading Solana meme coins, the time could be ripe for a newcomer to steal the spotlight. Some traders have high hopes for Sealana, a new presale that looks set to replicate the success of Slothana.
Traders eye Sealana presale
Sealana is a promising new meme coin on the Solana blockchain that’s captured the attention of both crypto enthusiasts and meme lovers. The project follows an overweight redneck seal on the hunt for the next big Solana meme coin.
Although the project only launched recently, it’s already raised over $2.5 million in its presale. Many are drawing comparisons between SEAL and Slothana, a Solana presale that raised over $15 million and has been listed on major exchanges like HTX Global.
Currently, the token is priced at just $0.022 per SEAL token and can be bought using ETH, SOL, USDT, and USDC.
Like Slothana, which recently hit a new ATH after a successful ICO, the presale has an air of mystery about it, which has helped drive hype up for this token.
To learn more about this project, visit the Sealana presale website.
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