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Expert Reveals Top 7 Solana Meme Coins to Watch Ahead of ETF Approval
Solana-based meme coins have emerged as notable contenders in the cryptocurrency market, overperforming major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) in recent months.
With coins like Bonk Inu (BONK), up nearly 7,000% year-to-date, the potential approval of the Solana ETFs filed by asset managers VanEck and 21Shares in the United States is seen as a potential catalyst for these tokens, according to market expert Leshka.
In a recent analysesLeshka explained that Solana memes have become the dominant narrative of this market cycle, raising expectations about their potential growth following a possible approval of the Solana ETF market by the U.S. Securities and Exchange Commission (SEC).
Best Solana Meme Coins To Watch
Leshka started by depicting the cat-based meme coin POPCAT, which has seen a 55% increase in price over the past two weeks.
Currently trading at $0.448, POPCAT is the fourth largest meme coin on Solana with a market cap of $441 million. Leshka considers it one of the most relevant memes about mid-cap companies on Solana, highlighting a “strong community” despite the lack of intrinsic value.
Next, Leshka highlighted the MICHI token, another cat-based meme coin in the Solana ecosystem. According to the analyst, the upcoming launch of MichiSwap, Michi non-fungible tokens (NFTs), and the Michi NFT Marketplace could catalyze further price increases for MICHI in the coming months.
Bonk Inu, another meme coin that has attracted considerable attention in recent months, was also mentioned by the analyst, who recorded a 20% price increase over the last fourteen days, currently trading at $0.00002413.
Leshka highlighted how Bonk Inu, which originally supported the Solana community, has expanded its user base and integrated decentralized finance (DeFi), cross-chain messaging protocols, and NFT markets as key to its growth prospects, positioning Bonk Inu as another meme coin with the potential for further gains.
Political meme coins
Moving on, Leshka highlighted Dogwhifhat (WIF), currently the Solana-based meme coin with the largest market cap, which has accumulated over $1.6 billion in record time.
Leshka believes that Dogwhifhat “symbolizes progress in futuristic transactions” and is a beacon for “forward-thinking individuals.” However, the token has seen a strong price drop in the monthly time frame of almost 40%.
Finally, the analyst highlighted political memes based on the Solana ecosystem, especially those related to US politicians, which have gained significant popularity as the upcoming November elections approach.
Leshka noted OBEMA, a meme coin featuring Michelle Obama, as a “risky play” with no intrinsic value or expected financial gain. However, the analyst noted the potential for a 10x-20x return if Joe Biden were to step down. presidential race.
Leshka also mentioned BODEN, a meme coin featuring Joe Biden. Although his popularity has waned, an “unexpected event” in the race for the White House could give him a final boost, especially if the president manages to win the election in November.
At the time of writing, Solana’s native token, SOL, was trading at $138.70, down more than 13% for the month but up 540% since the start of the year.
Featured image from DALL-E, chart from TradingView.com