
Solana Emerges as Fastest Blockchain Amid Meme Coin Frenzy
A report reveals that Solana became the fastest blockchain, outperforming Ethereum and Polygon, during the recent meme coin craze, reaching a record 1,504 transactions per second.
A report reveals that Solana became the fastest blockchain, outperforming Ethereum and Polygon, during the recent meme coin craze, reaching a record 1,504 transactions per second.
The cryptocurrency market witnessed a bearish downturn, with Bitcoin (BTC) dropping below $62,000 and Ethereum (ETH) extending below $3,000. While major altcoins like Solana (SOL) also plunged, XRP and Cardano (ADA) defied the trend with slight gains.
The cryptocurrency market has been dominated by meme coins, with Dogecoin (DOGE), Shiba Inu (SHIB), and the rising star Dogwifhat (WIF) leading the charge with impressive price surges and community support.
The cryptocurrency community is abuzz with excitement as the prospect of Elon Musk’s X platform rolling out payments this year gains momentum, fueling hopes for the integration of digital currencies like Dogecoin (DOGE) into the social media giant’s ecosystem.
The meme coin Dogwifhat (WIF) has climbed to become the fifth-largest meme coin by market capitalization, reaching a $2.2 billion valuation. However, despite the uptrend, technical indicators suggest a potential pullback for WIF bulls due to diverging volume.
As the recent memecoin mania that propelled Shiba Inu (SHIB) to new highs cools off, the SHIB team has launched a critical product – SHIB Names, an Ethereum ENS competitor – which could drive renewed bullish momentum and push SHIB’s market cap above $30 billion.
Shiba Inu ecosystem saw over 24-hour trading volume topping $1.1B to surpass Cardano and other larger market cap coins alongside triple-digit returns for SHIB, BONE, and TREAT tokens.
PEPE led meme coin gains with a 180% weekly price explosion to $0.0000033, joined by FLOKI and Doge surging 20-30%, as the niche crypto sector suddenly rebounds to $27 billion.
Memecoins are transforming from speculative assets to valuable components of blockchain culture, presenting potential opportunities for investors.