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Solana surpasses Ethereum on DEX volume amid meme coins rally The Solana blockchain has supplanted Ethereum as the leader in trading volume on decentralized exchanges. According to DeFiLlama, trading volume on decentralized exchanges (DEX) in Solana increased by 67% in seven days to $21.3 billion. Over the same period, the volume of decentralized exchanges based on Ethereum grew by 3% to $19.4 billion. Solana (SOL) tested the $200 level this year, while Ethereum (ETH) climbed to the $4,000 level in March amid Bitcoin’s (BTC) rally to a new all-time high. Solana managed to gain primacy thanks to the hype around Solana-based meme coins Dogwifhat (WIF), Bonk (BONK), Book of Meme (BOME), and Slerf (SLERF). According to Reflexivity Research, Solana’s volume growth began in the fourth quarter of 2023 due to the proliferation of points and giveaway programs such as Solana DEX Jupiter. “Solana has recently .

Did You Miss Out on Pepe’s 15,140% Surge? No Worry, Check Out the 5 Top Meme Coins for Immediate and Long Term Gains You may have been one of those investors who did not notice Pepe until it reached the height of almost a 15,140% increase year-to-date. Do not worry as the meme coin frenzy is back again with many meme coins heading to the moon. From the evaluation of analysts, KangaMoon (KANG), Bonk (BONK), DogWifHat (WIF), Shiba Inu (SHIB), and Floki (FLOKI) are the best meme coins to invest in now and could be appropriate for both long and short term investors.  Among the next meme coins that will shoot to the moon is KangaMoon (KANG). In an era where it is becoming rare to find meme coins with real utilities, KangaMoon is backed by an actual utility, paving the way for its continued traction. KangaMoon creates a community of meme coins enthusiasts with its unique features of P2E gaming with a .

The newly launched PENGU token has stolen the spotlight after becoming the largest Solana-based memecoin by market capitalization. The token’s rally has gathered massive interest from large-scale investors, who have heavily invested in the token over the last few days. New Solana Token Steals The Spotlight On December 17, the Pudgy Penguins Non-Fungible Token (NFT) project launched its official token, PENGU, on the Solana Blockchain. The token has moved through the ranks, flipping other Solana-based tokens and gathering massive attention in nine days. Pudgy Penguins, one of the largest NFT collections, consists of 8,888 unique cartoons of cute penguins and has a market capitalization of 205,757 ETH. In anticipation of the token launch, the project surged as the second-largest NFT collection, only falling behind CryptoPunks. Since its launch three years ago, the project has seen its community significantly grow and “cemented itself in the hearts and minds of everyday people and culture,” according to the project’s team. Additionally, it is expected to contribute to the project’s governance despite not having a specific use case announced yet. As such, the newly launched cryptocurrency aims to “expand its community and further widen the reach” of the project by allowing old and new users “to align” themselves with the penguins. According to CoinGecko data, the Solana-based memecoin debuted with a 500% surge to a market capitalization of $3.5 billion but registered massive volatility in the following days. Just hours after launching, PENGU’s price retraced over 50% before descending to a $1.4 billion market cap on December 20. The token hovered between the $0.025-$0.037 range over a few days, stabilizing around the range’s upper zone on Christmas Eve. Whales Fill Their Bags As PENGU Flips BONK Amid the market’s momentary Christmas Day gains, the token broke above this range and climbed to the $0.042 mark on Thursday morning, hitting a $2.6 billion market cap. During this 18% rally, the token flipped dogwifhat (WIF) and BONK to become the largest Solana memecoin by market cap, currently holding its position as the sector’s leader. PENGU became the fourth largest memecoin by this metric, just behind Dogecoin, Shiba Inu, and PEPE. Additionally, in the last 24 hours, the token has seen a 25% increase in market activity, with a daily trading volume of $1.92 billion. According to on-chain data analysis firm Lookonchain, Crypto whales have also noticed PENGU’s rally, with several large-scale investors filling their bags over the past week. On December 24, a whale that had received an airdrop of 116.7 million PENGU, worth $3.52 million, increased its holding with a $1 million purchase. According to the post, the wallet spent 5,250 SOL to buy an additional 34.42 million PENGU, holding a total of 151.12 million PENGU, valued at $5.08 million. Similarly, another whale exchanged 500,000 ai16z, another trending Solana-based memecoin, today for PENGU. In the past eight days, this investor has spent $2.47 million to buy 79.9 million PENGU, having unrealized profits of around $835,000. As of this writing, PENGU is trading at $0.038, a 4.8% increase in the daily timeframe. Source: NewsBTC.com The post New Solana Memecoin Leader? PENGU Flips BONK Amid Whale Accumulation appeared first on Crypto Breaking News.$PENGU

Solana surpasses Ethereum on DEX volume amid meme coins rally The Solana blockchain has supplanted Ethereum as the leader in trading volume on decentralized exchanges. According to DeFiLlama, trading volume on decentralized exchanges (DEX) in Solana increased by 67% in seven days to $21.3 billion. Over the same period, the volume of decentralized exchanges based on Ethereum grew by 3% to $19.4 billion. Solana (SOL) tested the $200 level this year, while Ethereum (ETH) climbed to the $4,000 level in March amid Bitcoin’s (BTC) rally to a new all-time high. Solana managed to gain primacy thanks to the hype around Solana-based meme coins Dogwifhat (WIF), Bonk (BONK), Book of Meme (BOME), and Slerf (SLERF). According to Reflexivity Research, Solana’s volume growth began in the fourth quarter of 2023 due to the proliferation of points and giveaway programs such as Solana DEX Jupiter. “Solana has recently .

Solana-Based Meme Coins, WIF, BOME and BONK Face Sell-off As the overall market volatility starts from last Tuesday’s dip, the meme coin sector is on a similar rocky road. Amidst such choppy market behaviors, Solana-based meme coins are struggling to come back from the recent hiccup.  Even the Solana price trend shows a minor correction, as it loses the $200 mark and drops to the $180 mark. The market cap of altcoins, excluding Bitcoin, is reverting to the $1 trillion mark, falling 8.3% in two days.  Moreover, the BTC price is down by 5.60% and retests the $63K mark. Hence, with a visible weakness in buying pressure, let’s have a look at Solana-based meme coins to find out the next potential reversal spot.  Tradingview With an expanding triangle in the 4H chart, the ongoing correction in the WIF price cracks under the support trendline. The 27% fell within two days, with the meme coin losing market .