Hi, this is Wayne again with a topic “Solana is bringing back the memecoin. How long can it last? | TechCrunch Minute”.
Crypto is back in action and we’re not just talking about spotcoin ETFs for once. No, we have to go deeper into the memes to sort out why Solana is suddenly the blockchain that everyone is once again talking about now, after a very long and brutal crypto winter, things are once again hot in web 3 land, and you can find evidence for That fact, all over the place from rising trading volumes on leading exchanges, for example, heck even nft tra tring volume – seems to be perking back up a little bit. But while Bitcoin and ethereum are still the best known blockchains out there today, there is a rival blockchain. That might be seen the most hyped gains recently and yes, that is salana, so we’ve seen a massive rise in the number of transactions on the salana blockchain in recent quarters. We’Ve seen more wallets interacting with it.
It overall seems to be very bullish and that bullishness has helped the price of Solana’s native token Soul rise from around2 bucks last September to around $ 180 today, and that’s actually a pullback for more than $ 200 just a couple of days ago. What is driving so much activity and hype on the salon of blockchain recall that in past Crypt booms we’ve often seen them rotate around a new idea, business model or concept. If you go back to 2017, we had the initial coin offering Boom, for example, and during the last grade bull market of 2021 nfts were the hottest thing around. So crypto gaming is talked about today. Sure and some folks are hot for AI plus blockchain projects. So what is the leading jam on salana? Well, it turns out it’s meme coins.
Again sure everyone knows Dogecoin the Intrepid meme coin that could it’s still around and doing fine. As far as I can tell, but as techan reported recently, Solana based meme coins are croing up and popping off at a rapid clip, and this is when I have to say some very silly words. So just roll with me here since mid December. A number of Sheba Inu dog themed tokens on the salon blockchain like bnk and dog wh hat, have taken off these two Dogecoin knockoffs have racked up impressive gains lately and the dog wh hat community did crowdfund an ad spot on the Las Vegas sphere or they’ve. Raise the money for it we’ll see when it actually goes up all hail the great orb.
It is silly season which is good and fun, but there is a slight Edge to all this humor during the last crypto winter. There was a push by some bigname folks in crypto, like Chris Dixon, to press the point that blockchain Tech is good for real hard tech work and not just memes and silly speculation. Not that there’s anything wrong with fun. There isn’t I’m totally here for it, but it does seem that this crypto moment is more predicated on a repeat of the past than something actually new. And that has me a little worried that this crypto summer could be as short as winter is becoming in the Northeast.
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