9 Best Solana Meme Coins to Buy in 2024

While Solana is best known for its fast, efficient, and scalable blockchain – its ecosystem also includes meme coins. This will appeal to investors with a higher appetite for risk and volatility.

Read on to discover the best Solana meme coins for 2024. We cover eight projects in great detail, allowing meme coin investors to make informed decisions.

  • Exciting new multi-chain meme coin expected to explode during 'DOGE day' in April, also offers staking rewards.
  • Dogeverse offers seamless interoperability with Wormhole and Portal Bridge offering secure navigation between chains
  • Investors can choose their preferred chains that offer lower fees and instant processing times, boosting the trading process.
Project Launched
April 2024
Purchase Methods
  • ETH
    ETH
  • USDT
    USDT
  • BNB
    BNB
  • Matic
    Matic
  • +1 more
  • New Solana meme coin trending on Twitter with potential to go to the moon like $SLERF
  • $SLOTH presale has no price stages or timer. Simply send $SOL to token address and $SLOTH tokens will be airdropped
  • More than $500k raised in less than 24 hours
Project Launched
March 2024
Purchase Methods
  • SOL
    SOL
  • Next big Solana meme coin, emulating 100x success of Pepe, Bonk, Myro and Dogwifhat.
  • 35% of the total supply is set aside for airdrops distributed on Solana.
  • Earn airdrop points through Smog social interactions, quests, and on-chain activity.
Project Launched
February 2024
Purchase Methods
  • SOL
    SOL
  • USDT
    USDT
  • BONK
    BONK
  • ETH
    ETH
  • +1 more

List of the Best Solana Meme Coins to Buy

Our roundup of high potential Solana meme tokens includes a mix of old and new projects:

  1. Slothana (SLOTH): Best meme coin on Solana that raised over $500K in a few hours of launch.
  2. Smog (SMOG): Popular multi-chain meme coin with a 490 million token airdrop.
  3. Lucky Boo (BOO): Dog-themed Solana meme coin. Get huge airdrop rewards.
  4. Myro (MYRO): Popular Solana meme coin with utility, had over $100 million market cap.
  5. Fronk (FRONK): Deflationary project with an aggressive burning mechanism.
  6. Dogwifhat (WIF): Leading meme coin with over $500 million market cap.
  7. Bonk (BONK): The most successful Solana-based meme coin to date, returning over 12,000% in 2023.
  8. SHIBONK (SBONK):  Produced gains of over 32% in the prior seven days.
  9. Moonlana (MOLA): One of the few Solana meme coins to support staking, and offers an NFT collection.

An Overview of How Solana Meme Coins Work

Solana meme coins are aimed at high-risk investors with a sole focus – to make huge profits in a short space of time. Meme coins on the Solana network operate much the same as other ecosystems. For example, just like Pepe, Shiba Inu, FLOKI, and Bone ShibaSwap, Solana meme coins have little to no use cases.

Instead, Solana developers create meme coins for speculative purposes. And investors buy them hoping to make a significant return. To illustrate what’s possible in the Solana meme coin space, Bonk is a great case study. Bonk, which has no utility or use cases, was launched in January 2023 via a 50% airdrop.

Solana Meme Coins

Through an aggressive market campaign, Bonk was able to create FOMO and hype in the crypto community. And in turn, Bonk went on to generate ginas of over 4,000%. This was achieved in a matter of days. However, as attractive as meme coins sound, the vast majority do not replicate Bonk’s success. In fact, most crash and burn, leaving investors with worthless tokens.

The Importance of Timing the Market

Investing in the best Solana tokens is often about timing. For example, after peaking at $0.000004922, Bonk capitulated by over 90%. This highlights that Solana meme coin investors must find the optimal timeframe to enter and exit the market.

Ultimately, finding the next Solana meme coin to explode is a challenging undertaking. Investors will need to consider diversifying their meme coin portfolio to reduce the risks and increase their chances of picking a gem. Diversification should include multiple ecosystems, including Solana, Ethereum, and Binance Smart Chain.

Top Solana Meme Coins: Full Analysis

We have analyzed the best Solana meme coins in the market and found that eight projects stand out. The results of our research can be found below.

1. Slothana – Best Meme Coin to Buy on Solana in 2024

Slothana ($SLOTH) is the best meme coin on Solana to buy in 2024. It is gaining traction due to its viral potential and innovative presale mechanism. After seeing huge community interest, the token raised nearly $550K within just a few hours of launch.

One of Slothana’s key features is its simple and accessible presale process. Investors can send Solana ($SOL) directly to the token address and $SLOTH coins will be airdropped to their wallets. 

This removes the need for price stages or waiting periods and makes it a user-friendly option for those looking to participate in a meme coin presale.

Slothana Presale

Additionally, Slothana is speculated to have been created by the founders of $SMOG, which is a Solana meme coin that provided significant returns to early investors. This connection adds credibility to Slothana and raises expectations for its performance.

The meme coin market is expected to experience a boom in April, accompanied by events such as Bitcoin halving and Dogecoin Day. Slothana aims to capitalize on this trend by offering a humorous and potentially profitable alternative to early buyers.

Interested buyers can follow Slothana on X (Twitter) to learn more about the platform and get the latest updates on listings.

2. Smog – Popular Meme Coin With High Staking Rewards

Smog ($SMOG) is a new meme coin on Solana, aiming to outperform its peers Bonk, Myro, Peep and Dogwifhat. For that purpose, the team behind Smog has set aside 490 million tokens, which is one-third of the total token supply, for a generous airdrop. Moreover, they will use 50% of the total token supply for marketing purposes.

To become eligible for an airdrop, all you have to do is participate in the Zealy campaign and complete quests, and purchase $SMOG tokens on Solana’s reputable aggregator, Jupiter.

Smog token page

You need a Solana wallet, such as Phantom, Solflare or Backpack and some SOL to pay for the transaction fees. Connect your wallet to Jupiter and use USDC, USDT or SOL to make the purchase. Once you have $SMOG in your wallet, hold it to earn airdrop points.

Even though Smog is native to Solana, the $SMOG token is multi-chain, meaning you can use ETH or USDT to buy the token on the Smog website. Moreover, you can start staking your tokens to earn 42% APY.

With half the token supply dedicated for marketing efforts, this could bring new investors and speculators to this meme coin, helping it outperform every other Solana meme coin.

Make sure to read the Smog whitepaper to learn more about the project. Also, follow Smog on X and join the Smog Telegram channel for the latest news.

3. Lucky Boo (BOO) – Dog-Themed Solana Token Offers Airdrop Rewards

Lucky Boo ($BOO) is another candidate for the best Solana meme coins to buy in 2024. A new cryptocurrency, Lucky Boo started its presale campaign in April 2024. 

The project features a cute puppy avatar, called Lucky Boo. This crypto is meant to be a lucky charm in your investing journey. While Lucky Boo does not offer much utility, its airdrop campaign could help solidify a huge community of followers. 

Lucky Boo home image

From an 8.1 billion token supply, 40% of all $BOO tokens will be provided through airdrops. The airdrop rewards will primarily be shared with early presale investors. With the first stage of the presale selling out rapidly, interested investors can buy $BOO through the second stage. 

Connect to the presale website with Phantom, or another Solana-compatible crypto wallet. With an investment of 1 $SOL, you can get 178,444.44 $BOO tokens through the current presale stage. 

Since $SLERF, $BONK, and other Solana-based coins have been soaring in 2024, $BOO could be the next big token built on this blockchain. 5% of the total supply is currently being given through the presale round. 

Read the Lucky Boo whitepaper and join the Telegram channel to stay updated with this cryptocurrency. 

4. Myro (MYRO) – Popular  Meme Coin Based on Solana Co-Founder’s Dog

Myro (MYRO) is a meme coin based on Raj Gokal’s dog with the same name. Unlike other meme coins, however, Myro offers some utility. For example, you can buy Myro plushies with MYRO and there’s a Myro buy bot and staking being built.

Started as a fun project, MYRO had a market cap of over $100 million at one point, making it one of the most popular meme coins on Solana.

myro token

You can buy MYRO on Jupiter or any other Solana DEX, but you can also buy it on centralized exchanges like ByBit, BitGet, KuCoin, HTX and MEXC.

5. Fronk (FRONK) – Cheap Solana Meme Coin With a Fair Distribution System 

Fronk is a Solana-based meme coin using the same logo and theme as Pepe. For those unaware, Pepe is one of the best-performing meme coins of 2024, gaining over 2,500% in under three months of trading. While Fronk is yet to replicate the successes of Pepe, this meme coin might appeal to budget investors.

After all, Fronk is trading for micro pennies, currently at $0.000000001771. This yields millions of FRONK tokens for every $100 invested. In addition, Fronk claims that there is “no place for injustice on Solana“. This is why Fronk distributed 45% of its total supply to selected Solana stakeholders.

Fronk price

This includes holders of Okay Bears, y00ts, and DeGods – projects on the Solana network. Another aspect of Fronk is that it is a deflationary cryptocurrency. It regularly burns FRONK tokens from its total supply. So far, 34% of all outstanding tokens have been removed from circulation.

Unfortunately, this hasn’t yielded any success on the Fronk pricing chart. On the contrary, Fronk is down 98% from its initial listing price. That said, such significant declines can be seen across the meme coin landscape, often owing to the bear market. Fronk can be purchased on the Solana-based DEX, Raydium.

6. Dogwifhat (WIF) – One of the Hottest Meme Coins on Solana

Dogwifhat (WIF) is a true meme coin with no utility aside from price speculation. And despite that, investors and traders have poured in, pushing the token to a market cap of over $500 million.

Today, WIF is the fifth largest meme coin behind Pepe and Bonk. To reach Dogecoin’s market cap, Dogwifhat needs to 24x from here, which could be possible in a bull run.

dogwifhat token

Due to its popularity, Dogwifhat is available for purchase on all Solana DEXs as well as on almost every CEX, including KuCoin, Kraken, HTX, Crypto.com and MEXC.

7. Bonk (BONK) – The Most Successful Solana Meme Coin to Date   

Some would argue that Bonk is the blueprint for succeeding in the Solana meme coin space. As noted earlier, Bonk is one of the most successful meme coins in the Solana ecosystem. It was launched in January 2023 and, in under a week, produced gains of over 4,000%.

This was achieved through a strong marketing campaign and plenty of hype and FOMO. This rapid upward trajectory did not last long. Since peaking at $0.000004922 a few days after its launch, Bonk has been on a continued downward spiral. Currently, it’s trading over 90% below its all-time high.

Bonk price chart

That said, the project is trading 305% above its all-time low, and 245% above its original listing price. Compare this to the broader crypto market, and Bonk is one of the best-performing projects in 2024. This is the case even though Bonk does not have any identifiable use cases.

Nor does its native BONK token have any utility within the Solana ecosystem. Nevertheless, Bonk is now valued at $20 million. Some investors will be hoping for a resurgence when the next crypto bull market arrives. Whether or not this happens remains to be seen.

8. SHIBONK (SBONK) – Trending Meme Coin With 7-Day Gains of 32%   

When searching for the best Solana meme coin, it makes sense to look for trending projects. SHIBONK fits the bill here, with the meme coin recording gains of over 32% in the prior week. SHIBONK was launched in January 2023 at a price of $1.39.

It then witnessed a major bull run, hitting peaks of over $8 in under a month of launching. This translates into gains of almost 500%. However, the price of SHIBONK has since declined to $0.31. This equates to a downfall of 95% from its prior all-time high. On the flip side, SHIBONK has a market capitalization of just $113,000.

SHIBONK price chart

This micro-cap valuation means that even a small wave of buying pressure could see the meme coin record notable gains. In addition, SHIBONK has created its own NFT series – the Shibonk Gang. There are 4,200 unique NFTs in total, and all have been hand-drawn. Those looking to buy SHIBONK can do so at Raydium and Jupiter.

9. Moonlana (MOLA) – Established Solana Meme Coin With Staking Tools

Launched in 2021, Moonlana is a Solana-based meme coin with a 5 billion token supply. The project has already burned 800 million tokens, leaving just 4.2 billion in circulation. While Moonlana is a meme coin in nature, it also offers use cases for token holders.

This includes the ability to stake MOLA tokens directly on the Moonlana website. Moonlana has also developed Lanatools, a user-friendly dashboard for investors. This allows users to track the value of their tokens, as well as buy, sell, and swap MOLA.

Moonlana price

That said, In terms of performance, Moonlana was initially priced at $0.000141, as per CoinMarketCap. Within a month of launching, Moonlana went on to record all-time highs of  $0.0068. This converts to growth of over 4,500%. Since achieving this feat, the price of Moonlana has declined by 99%.

Ranking the Best Solana Meme Coins: Our Criteria  

Meme coin investors should have a checklist of metrics to work from when selecting suitable projects.

Below, we offer some insight into how we ranked the best Solana meme coins.

Hype and FOMO

Hype and FOMO – the fear of missing out, have a major say in how meme coins perform. After all, meme coins rarely have any use cases or actual utility. Instead, meme coins rely on strong marketing campaigns and speculation.

Even more important is the size and activeness of the meme coin community. As more people get the word out about the project, more people will consider buying the meme coin. A good example of this is Wall Street Memes.

Its meme-focused strategy now consists of over one million followers. As noted, its memes are generating more than 40 million impressions every month. This means the Wall Street Memes projects is attracting a lot of attention. This is evident in the $9 million its presale has already raised from investors.

Tokenomics

The tokenomics of a meme coin project can also have in how it performs. The best meme coins distributed most of the token supply during a Solana presale. This is a major plus point, as it ensures the developers do not control a large percentage of tokens. If they did, then there is always the risk the developers will dump their tokens on the market.

  • Some SOL meme coins also give away a portion of their tokens via an airdrop.
  • We found that recipients are often those that have contributed to the Solana community.
  • However, airdropping too many tokens is a major risk. After all, many will be motivated to sell their tokens as soon as they are received.
  • Meme coin investors should also evaluate whether the native token is inflationary or deflationary.
  • Inflationary meme coins should be avoided, considering the developers can continue ‘printing’ new tokens.
  • And in doing so, this dilutes the value of the investment for current token holders.

Instead, the best Solana meme coins take a deflationary approach. This means that the overall token supply declines over time, increasing value to long-term investors. The most common way to achieve this is by burning tokens. This removes tokens from the circulating supply, usually by transferring them to a wallet that cannot be accessed.

Market Capitalization 

Seasoned meme coin investors will often focus on micro-cap tokens. These are meme coins with a very low market capitalization, of just a few million dollars. In some cases, such as SHIBONK and SolDoge, the market capitalization is a few hundred thousand dollars. Either way, micro-cap meme coins offer the greatest upside potential.

This is because they can grow much faster than large caps. Small waves of buying pressure can increase the meme coin’s value rapidly. For example,  SHIBONK has increased by over 15% in the prior 24 hours. This was achieved with a 24-hour trading volume of just $1,239. Now consider the type of growth possible when larger buy orders are achieved.

Is Solana a Good Network for Meme Coins?

The most successful meme coins operate on the Ethereum blockchain. This includes everything from Dogelon Mars and Pepe to Shibab Inu and FLOKI.

That said, more and more meme coin projects are considering Solana. Let’s explore why this is.

Cost-Effective Transactions

Casual meme coin investors are put off by the high fees charged by Ethereum. While this will fluctuate depending on how busy its network is, Ethereum GAS fees can exceed $10. This makes it unviable for those looking to invest in meme coins with a few dollars.

Now compare this to Solana, which has an average transaction fee of $0.00025. This makes it very cost-effective for small-scale investors. Low transaction fees are also beneficial to meme coin traders, not to mention projects looking to launch an NFT collection.

Solana blockchain

For instance, consider a meme coin NFT collection of 10,000 units. Each NFT is unique and requires an individual transaction on the blockchain. With an average transaction fee of $0.00025, the entire NFT collection would cost just $2.5.

Scalability

Another reason that some meme coins are choosing Solana over Ethereum is because of increased scalability. For example, in the prior 24 hours, Ethereum was able to handle just over one million transactions. This translates into approximately 12 transactions per second.

Why is Scalability Important?

  • Scalability refers to the number of transactions a specific blockchain can handle each second.
  • If a blockchain requires more tokens than it can handle, this is problematic.
  • As seen with Ethereum, this results in high fees and slow transactions, making the blockchain inefficient.
  • In contrast, Solana is one of the most efficient blockchains in the market, because it’s able to handle thousands of transactions per second.

Now compare this to the Solana blockchain, which can handle up to 65,000 transactions per second. This outperforms the likes of Visa, which – according to Crypto.com, can handle up to 24,000 transactions per second.

This makes Solana ideal for meme coin launches. There are no fears of transaction overload, meaning meme coins can operate smoothly and efficiently.

Energy Efficient

Meme coins need all the unique selling points possible when marketing their projects. One such angle is energy efficiency, which is an appealing plus point for many.

For example, Solana notes that its network has a 0% net carbon impact. Solana also notes that a single transaction uses the “same amount of energy as a few Google searches“.

Meme Coin Staking

The Solana blockchain uses a proof-of-stake mechanism. This means that meme coins based on the Solana blockchain can offer staking rewards to token holders.

How Does Solana Staking Work?

  • Most meme coins on the Solana network can be staked.
  • This requires the investor to lock their tokens, meaning they can’t be sold.
  • In doing so, the investor will generate a yield on their tokens.
  • The best staking coins are often low-cap projects, as they come with the highest APYs.
  • In most cases, investors can unstake their tokens at any time.

This allows meme coin investors to earn passive rewards while waiting for their tokens to moon. Many Solana projects offer staking tools directly on their websites.

Conclusion

While Solana is becoming more popular with new crypto launches, very few meme coins are making waves. Instead, the bulk of the action remains on the Ethereum network.

Currently, Slothana is the most popular meme coin on Solana that has gone viral and raised over $500K in just a few hours of its official launch.

References

https://coinmarketcap.com/currencies/bonk1/

https://www.cnbc.com/2021/01/28/wallstreetbets-and-gamestop-reddit-investing-frenzy-spreads-overseas.html

https://coinmarketcap.com/currencies/shibonk-/

https://www.soldoge.io/

https://coinmarketcap.com/currencies/soldoge/

https://fronk.xyz/token

https://coinmarketcap.com/currencies/pepe/

https://coinmarketcap.com/currencies/fronk/

https://coinmarketcap.com/currencies/moonlana/

https://www.gemini.com/cryptopedia/solana-blockchain

https://ethereum.org/en/

https://academy.binance.com/en/glossary/market-capitalization

https://ycharts.com/indicators/ethereum_transactions_per_day

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Kane Pepi
Editor

Kane Pepi is an accomplished financial and cryptocurrency writer who has an extensive portfolio of over 2,000 articles, guides, and market insights. With his expertise in specialized subjects such as asset valuation and analysis, portfolio management, and financial crime prevention, Kane has built a reputation for providing clear explanations of complex financial topics. He holds a Bachelor's Degree in Finance and a Master's Degree in Financial Crime, and is currently pursuing his Doctorate degree, which focuses on investigating the complexities of money laundering in the cryptocurrency and blockchain technology sectors. Kane's wealth of knowledge and experience in the field make…