After the resurgence of the Solana blockchain in Q1 2024, Solana-based meme coins are quickly becoming the talk of the town and are expected to continue thriving this year. Traders are hunting for the next Solana meme coin to invest in since prominent Sol-based meme coins like $BONk and $WIF reached the coveted billion-dollar market cap status.
Unfortunately, with hundreds launched daily, it's difficult to determine which options are suitable for long-term holding. Luckily, we've done some research and found the top SOL meme coins to buy for exponential growth in 2024.
Slothana ($SLOTH)
Spotlight WireSlothana ($SLOTH) is quickly emerging as a top $SOL meme coin to buy today for exceptional growth in 2024. The meme coin raised an astonishing $2.1 million in its first three days of operation, as it turns heads and makes a huge entrance into the SOL-based meme coin sector.
Investors are keen to position themselves as early adopters of the token due to its unique presale mechanism. This mechanism requires investors to send $SOL to a wallet address to receive tokens when $SLOTH goes live. The project attempts to follow similar presale projects like $BOME and $SELRF, which saw enormous success using the same “send to wallet” presale mechanism.
With Doge Day and the Bitcoin block halving scheduled in April 2024, many traders expect a meme coin frenzy in the month, and $SLOTH is a top addition to their portfolio. The meme coin has great virality, with a Sloth-based mascot eager to end his 9-5 grind and start crypto trading.
To get positioned, send $SOL to the wallet address listed on the website or use the buy widget. The relatable meme and the expert marketing team behind the project put $SLOTH in a position to be one of the best Solana meme coins through 2024.
Smog ($SMOG)
Spotlight WireSmog token is no stranger to the Solana meme coin sector, having made its mark on the industry through March 2024. The airdrop-focused meme coin has generated overwhelming hype as traders continue accumulating airdrop points as they await its historical airdrop.
Smog allows its holders to earn airdrop points and be eligible to qualify for its enormous airdrop. The team has set aside an impressive 35% of the total supply to facilitate the airdrop. If the airdrop occurs at its $300 million market cap peak, over $100 million will be distributed to everybody collecting airdrop points.
The top $SOL meme coin rose to prominence after launching fairly on Jupiter DEX in February and has been growing in popularity ever since. The project also launched on the Ethereum blockchain, making it a heavyweight multi-chain meme coin.
The Solana meme coin continues growing its community, with well over a million quests completed on its Zealy campaign. The Zealy campaign allows $SMOG holders to accumulate more airdrop points for completing specific tasks.
Overall, the Smog token continues to position itself as a leader in the Solana meme coin market and is expected to continue its exponential growth in 2024.
Dogecoin20 ($DOGE20)
Spotlight WireAlthough it's not strictly a Solana-based meme coin, Dogecoin20 is one of the hottest trending meme coins in the sector. Multiple meme coins have launched on the Ethereum blockchain and then cross-chained onto Solana through Wormhole, and many investors believe Dogecoin20 is heading in the same direction.
Dogecoin20 is the latest Doge-related meme coin, described as the ultimate Dogecoin upgrade. It enhances the legendary meme coin's features and uses an environmentally friendly mining algorithm to bring it into a sustainable future.
The project utilises the proof-of-stake mining algorithm, which allows its holders to stake their tokens and earn passive income. Everybody staking $DOGE20 will be rewarded based on their staking percentage of the pool, with the team setting aside 15% of the total supply for staking rewards.
The high APY is designed to relieve selling pressure on the open market when the token launches, helping it surge in its first few weeks. With a maximum token supply of 140 billion $DOGE20, Dogecoin20 also ends the infinite inflation experienced by Dogecoin.
Although it's not a Solana meme coin just yet, Dogecoin20 is lining up nicely to become one of the sector's leaders. The token can be purchased on presale through the project's website using $ETH, $USDT, or a credit/debit card.
Slerf ($SLERF)
Spotlight WireSlerf is a magical roller coaster on the Solana blockchain that rose to prominence entirely by accident. Slerf intended to be a fun and engaging meme coin but experienced a disaster on its launch day when the developer accidentally burnt the $10 million presale funds raised from over 25,000 buyers.
The developer, rife with distraught, quickly turned to X Spaces to address the situation and attain advice from the community on his next steps, hoping that complete transparency would relieve his errors.
It seemed to have worked, as $SLERF became an instant hit once it launched, with investors rushing to buy large amounts of the token. As a result, Binance quickly listed $SLERF, helping it reach a billion-dollar market cap level in a matter of hours.
$SLERF continues to circulate and is growing in popularity.
Peng Token ($PENG)
Spotlight WirePeng token brings an icy twist to the Solana blockchain and is described as the arctic rendition of Pepe. Peng is an adorable meme that depicts a penguin with striking features that have taken the meme coin sector by storm. Alongside its captivating meme, Peng also has a unique avatar generator, allowing users to create their Peng-based avatars.
The project has seen massive community growth and has been listed on various exchanges, including MEXC, LBank, Gate.io, and Poloniex. The liquidity for the token has been burnt, and the smart contract ownership has been revoked, making this a purely community-driven project.
Overall, $PENG is expected to continue seeing growth in 2024, making it an excellent option for a long-term hold.
Disclaimer: The above content is non-editorial, and TIL hereby disclaims any and all warranties, express or implied, relating to the same. TIL does not provide investment advisory services in any manner and the publication of this content does not mean TIL's or Economic Times endorsem*nt. TIL strongly recommends the users to take all steps necessary to ascertain that any information and content provided is correct, updated and verified and/or speak with a qualified investment professional before making any investment decisions.
(You can now subscribe to our ETMarkets WhatsApp channel)
