As a seasoned researcher with over two decades of experience in the financial markets, I have witnessed the evolution of various trends and cycles, from dot-com boom to the rise of cryptocurrencies. The current surge in Solana’s meme coins is undeniably intriguing, and it reminds me of the early days of Dogecoin or Shiba Inu – both of which started as a joke but ended up revolutionizing the crypto landscape.
2024 saw a remarkable surge in the cryptocurrency market, with Solana’s collection of meme coins playing a significant role in this expansion. Financial experts anticipate that this upward trend will persist into 2025, as these digital currencies retain their leading status in terms of trading volumes and investor attention.
Solana Meme Coins to Watch for 2025
In the year 2024, meme coins based on Solana captured attention, with debuts like Pudgy Penguins (PENGU), Fartcoin, and Gigachad leading market activity. These meme coins saw impressive yearly gains ranging from 600% to 1800%. However, it was POPCAT that experienced the most significant surge, recording over 6500% growth.
By November mid-year 2024, POPCAT’s price reached an unprecedented high of $2.10. But since then, this meme coin has been moving horizontally rather than upwards and has plunged approximately 60% from its peak, currently trading at $0.77. This means it’s tough for the price to return to its high or continue rising in the immediate future. However, if POPCAT successfully holds $1.00 as a support level, there could be potential for recovery and growth.
As a researcher, I find myself delving deeper into the potential impact of the Solana meme coin narrative on the POPCAT price. If this narrative continues to grow, it could potentially propel the POPCAT price to unprecedented highs, surpassing $2.10 and possibly reaching even higher levels. In a conversation with BeInCrypto, Lennix Lai, the CCO at OKX Global, shared his insights on this development, stating:
The story behind the token system on Solana is more than just about high numbers, although they’re undeniably significant. Each week, over 250,000 new tokens are being added (with figures like 272,000, 276,000, and 251,000 launched on DEXs in the last three weeks), which is significantly higher than any other network. Solana’s exceptionally low costs, rapid confirmation times, and vibrant creator community fueled the massive meme token surge of 2024, converting these technical advantages into a lively ecosystem characterized by unique social interactions and powerful community-driven energy.
Ethereum Meme Coins to Watch in 2025
2024 has seen SPX6900 (SPX) emerge as one of the standout meme coins on Ethereum’s platform. Starting from January 2024, this coin experienced an impressive surge, rising by a staggering 9,362%. This meteoric rise makes SPX6900 a notable contender among Ethereum’s meme coins, alongside the well-known leaders Dogecoin (DOGE) and Shiba Inu (SHIB).
The cryptocurrency, SPX, seized an opportunity in the current trend, capturing the interest of enthusiasts who invest in meme coins. As a result, it has climbed up the ranks to become one of the top 15 meme coins worldwide, boasting a market capitalization of approximately $748 million. At present, SPX is being traded at around $0.75, but it has faced difficulties surpassing the $0.91 level for the past two months. Even though the broader crypto market is experiencing growth, the short-term forecast for this meme coin remains unclear.
For SPX to continue climbing towards its maximum historic value of $1.19, it initially needs to surpass the resistance at $0.91. This implies a potential 50% increase from its current position. On the flip side, the significant support for SPX’s price lies at $0.56.
Source: TradingView
- Ethereum is expected to maintain its dominance in this space due to the established reputation and legacy of older meme coins. However, it may face increased competition from Solana, as the chain offers significantly lower costs.
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2024-12-27 18:55