TL;DR
- Solana-based meme coins could potentially outperform Shiba Inu, depending on market support and influential endorsements.
- Dogwifhat and Bonk Inu stand out for their recent gains and exchange listings, though overtaking Shiba Inu’s market dominance seems like a tough mission.
What Needs to Happen?
The meme coin sector has recently made serious waves, with its market capitalization briefly surging above $60 billion. Some of the assets of that type generating the most interest due to their impressive price spikes are built on the Solana blockchain. As such, we decided to ask ChatGPT whether one of those can outperform Shiba Inu (SHIB).
The AI-powered chatbot estimated that a flippening is highly “unpredictable and speculative” but still possible, assuming several factors are in place. Bonk Inu (BONK), dogwifhat (WIF), Myro (MYRO), Slerf (SLERF), Book of Meme (BOME), or any other Solana-based meme coins need to generate a solid support from investors and developers and ink vital deals to have any chances.
Recall that Shiba Inu (SHIB) is the meme coin with the strongest community, while Dogecoin (DOGE), Pepe Coin (PEPE), and Floki Inu (FLOKI) follow next.
Technological advancements, favorable market sentiment, and a positive regulatory environment were also mentioned as vital elements.
Last but not least, ChatGPT reminded that the valuation of a certain meme coin can exponentially head north following endorsement from prominent people, giving Elon Musk’s support toward Dogecoin as example.
“A new meme coin would need to foster a similarly robust community or receive endorsements from influential figures to challenge Shiba Inu’s position,” the chatbot stated.
WIF and BONK Seem to Have the Best Chance
The Solana-based meme coin with the largest market cap (as of the moment of writing these lines) is dogwifhat (WIF). The asset, whose logo represents a dog wearing a beanie, experienced a 520% price increase on a monthly scale.
It also secured listings on leading cryptocurrency exchanges such as Binance, Kucoin, Bybit, and more. WIF also caught the eye of well-known industry participants, including BitMEX’s co-founder Arthur Hayes, who posted a photo of himself wearing a hat (remarking with the token’s symbol). He later highlighted WIF’s spike above the $2 mark, forecasting that the next target could be $10.
Bonk Inu (BONK), which was particularly trending in December last year, is the second-biggest Solana meme coin. Binance, Coinbase, and many other exchanges allowed trading services with the asset, and at one point, its market capitalization neared the $2.5 billion level.
Still, Shiba Inu has a market cap of over $15 billion, making an eventual flippening quite challenging (to say the least).
Those willing to take a closer look at the different types of meme coins, their purposes, specifics, and risks, feel free to check our video below:
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