Meme coins have always been an integral part of cryptocurrency. Known for being inspired by internet hilarious events, this category of cryptocurrency has gained popularity for its high volatility, offering cryptocurrency investors an avenue to make a profit. Beyond its hilarious undertones, meme coins have progressed into functional cryptocurrencies with real utility.
The Solana ecosystem is home to some of the best meme coins and has become an affordable alternative for token creation, outmatching competing blockchains riddled with high gas fees. Here’s all business owners need to know about token creation in the Solana ecosystem and its benefits to businesses.
Meme Coins and the Solana Ecosystem
In 2013, during the pre-booming era and adoption of cryptocurrency, a new cryptocurrency was launched to mock the existing cryptocurrencies making waves at that moment. Software developers Billy Markus and Jackson Palmer created Dogecoin (DOGE), an altcoin, to make fun of the irrational speculation that was prevalent in the cryptocurrency market at the time. This deployment once started as a joke and led to the creation of a new kind of cryptocurrency called meme coins.
Meme coins are virtual currencies that are based on Internet memes. More than 1000+ currencies have been developed, and many, however, are worthless because they are traded infrequently. In the meme currency category, only a selected number of meme coins have a daily trade volume of more than $1 million.
Solana token development offers several benefits to prospective token owners. The Solana ecosystem is well known for its affordable gas fees when compared to other ecosystems. Users can easily carry out the needed transactions without paying exorbitant fees, thereby increasing the adoption. When it comes to speed in conducting transactions, Solana employs a unique mechanism that allows for lightning-fast transitions.
A Step-by-Step Guide for Creating Meme Coins on Solana
The Solana ecosystem is known for its high transaction speed, scalability, and low gas fees, which makes it the ideal blockchain platform to launch a meme coin or any coin in general. The cost of creating a token range depends on whether you choose to create the meme coin yourself or consist of a professional token development service provider like PTPWallet. Developing a meme coin or Solana includes the following:
Draft a plan: The first step when creating a meme coin is to draft a plan that encompasses the entirety of your intended coin. This plan must contain the concepts, themes, or aesthetics of the coin, plans, and more. Planning provides an opportunity to cater to your intended audience as well as plan your coin’s tokenomics in the long run. In addition, drafting a plan, however detailed it may be, gives the Solana developers a head start.
Prepare the environment for your coin: After planning, set the environment for the token. To properly set up the environment, you will need to get access to the Solana ecosystem, own a Solana, and purchase Solana tokens to get access to the required tools. As mentioned, you can set the environment by downloading the Solana extension from your PC. Upon completion, you are assigned a Solana wallet that allows you to conduct transactions. Then, buy the native Solana tokens (<0.2 SOL) and deploy the right tools to begin building.
Creating the Meme Coin: This is the most important step in this guide as you can choose to use the token creation tools on the platform or employ the services of a professional token developer. You must apply the most caution in the token development stage, as an error that occurs during the smart contract development can mar or ruin the entire processes.
Testing, launching, and managing the token: After developing the token, the smart contracts are then tested by performing live routine checks on all the functions available to ensure they run as intended. Thereafter, the token is then launched to your community of active supporters, whose combined efforts can help build the token’s value. A successful token development process also includes proper management to ensure longevity.
Top Solana meme coins in the global crypto ecosystem
Here let’s take a look at some of the top-performing meme coins on the Solana ecosystem and analyze the similarities or differences between these coins. It’s essential to understand this ranking takes into account the coin’s market ca, past performance, hype generated, and utility:
Dogwifhat (WIF)
Coming top on this list is Dogwifhat (WIF), a popular cryptocurrency whose value is rooted in its community. After gaining popularity since its launch in November 2023, Dogwifhat (WIF) has garnered millions of loyalists all around the world, and its impressive cryptocurrency community is an indicator of this. This coin’s value is dependent on market speculation. Dogwifhat (WIF) has a current total market capitalization value of about $1.79B and an all-time high value of $4.83.
Bonk (BONK)
Following closely behind is BONK, a popular memecoin well-known for its meme-like, dog-themed aesthetics. This coin was launched on December 25, 2022, and its arrival became a pivotal moment for the entire Solana ecosystem. Since BONK operates on Solana, it enjoys the high transaction speed and low gas fee Solana has to offer, increasing its adoption across all exchanges and platforms.
Book of Meme (BOME)
Book of Meme (BOME) uses a more interactive strategy to reach out to users. To be a decentralized meme library, BOME has been able to amass a supportive community. In addition, the coin grants BOME token holders governance rights, allowing them to vote in decisions that will impact the ecosystem. The BOME community intends to include additional functions as regards social media sharing and meme trading.
Wen (WEN)
In the crypto community, “wen” is a common place that is used to describe anticipation for an event. This crypto lingo inspired the creation of the WEN token, a meme coin that focuses on community engagement and management. Its detailed project roadmap provides a preview of future WEN plans and includes features that will focus on gamification.
Other top Solana coins include Popcat (POPCAT), MUMU THE BULL
(MUMU), cat in a dog world
(MEW), Myro ($MYRO), Michi ($MICHI), and more.
Launch your meme coin on Solana with PTPWallet
Since the development of the first meme coin, Dogecoin, there’s no doubt that meme coins are among the top-performing cryptocurrencies on the Solana ecosystem, showing their viability. For interested organizations or business owners looking to contribute to the ongoing cultural reset by developing their own memecoin, PTPWallet is your best option.
By combining our expertise in Solana town development and the playfulness rooted in meme coins, you are guaranteed the potential of experiencing explosive adoption and growth in the adoption of your meme coin. With an increasing volatility risk, the return on investment on meme coins is inviting. Connect with our professionals today to get started. Learn more about exploring meme coins here: https://ptpwallet.com/breaking-blockchain-news/exploring-memecoins-2024/
