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The Solana blockchain has become an active battlefield for meme coin sniping in March 2024, and the explosion in Solana activity has fuelled an aggressive SOL price climb to tap $200 this week – with volumes gravitating to leading Solana AMM DEX Raydium.
Meme Sniping means being on the frontline, in the trenches, ready to catch new meme tokens the moment they emerge on the automated market maker (AMM) known as Raydium (RAY). it’s like catching a wave in the vast ocean of cryptocurrency, except this wave carries the potential for major profits.
Unlike their more structured counterparts, meme coins operate in the realm of the unpredictable, fueled by the speculative frenzy of their communities -it’s thrilling arena, but peppered with risks.
Based on recent analyses and reports, here are the top 3 Solana meme coins to consider buying on Raydium:
Solana Meme Coin #1 – Book of Meme (BOME) – The Next Shiba Inu?
As we wrote about earlier this week, Book of Memes (BOME) has soared by +360,000%, pushing its market cap past $1 billion.
Some meme investors even think it’s the next Pepe or Shiba Inu…
BOME coin was listed on a DEX at 7AM (UTC) on March 14 and immediately saw a +62,490% price move. It reached its first support level at $0.0048 and is currently trading at $0.01076.
Solana Meme Coin #2 – Dogwifhat (WIF) – Meme Coin ‘Wif’ Most Active Community
Launched in February of 2024 as a “popular meme Dogwifhat vibes wif frens on-chain,” Dogwifhat reached a 3 billion+ market cap in less than a month. Anything is possible.
It has since spawned a wave of “wifhat” coins like “BunnyWifCake” built on the Binance Smartchain.
The original creator of dogwifhat sold a picture of Achi, the famous dog wif hat for $4.2 MILLION DOLLARS!! pic.twitter.com/dlJAxdZGbX
— borovik (@3orovik) March 18, 2024
The community surrounding it has grown to include 35k X followers and nearly 10k Telegram group members, with numerous videos and images of the dog in various hats already circulating. The website also teases the future release of a WIF Hat generator.
As of mid-March, Dogwifhat is trading for $2.19.
Solana Meme Coin #3 – Smog Token (SMOG) – Redefining Airdrops on Solana
In the digital wilderness where meme coins roam free, Smog is a new creature with the goal of becoming Solana’s top token, according to their roadmap.
Smog has announced plans to distribute their tokens through a massive airdrop adventure campaign, which has already secured thousands of participants.
If you’re interested in getting in on these airdrops, the best way to do so is by using Jupiter DEX or by directly visiting the Smog website with ETH or USDT. Additionally, they offer staking with an impressive 42% APY.
Since its debut on Jupiter, Smog has seen an explosive growth of 1,300%. With 490 million tokens ready to be distributed, Smog is expected to make a big impact shortly.
Major media outlets like CryptoNews.com recently chose Smog as their favorite meme token, and as of March, it is trading at $0.169.
The Bottom Line:
There are boundless opportunities to make major gains across Raydium, but Solana meme coins are not without serious risks – and this requires effective risk management.
Just try to explain losing all of your money on a token called “BunnyWifCake” – even your therapist won’t be able to hold in his laughter!
For that reason always exercise extreme caution when trading DEX-launched meme coins, and never forget, volatility is a two-way street.
EXPLORE: What is DePIN? Here Are 3 DePIN Crypto To Watch – March 2024
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
