The Solana ecosystem has been witnessing one of the highest numbers of memecoins minted this year so far, and the rally doesn't seem to stop anytime soon. According to the data, Solana memecoins have already experienced two bull markets in 2024, and we are still halfway through the year. Speaking of, we have brought some of the newest memecoin arrivals on the Solana chain for you to learn about in this bear market.

The Potential of Solana Memecoins

Solana is known for its fast transaction speeds, low fees, and scalability. Leveraging this, many developers have started minting memecoins using the Solana blockchain or Solana Virtual Machine (SVM) since the start of this year, and the frenzy is still going on. Though memecoins pose a high risk, many investors consider them a one-shot way to get high returns.

So far, many Solana memecoins have shown remarkable performance in the market, enticing many developers to launch more Solana-based memecoins. According to Forbes, Solana memecoins have a combined market cap of $6.51 billion as of June 11, 2024. This is almost double the market cap of PEPE, the third most popular memecoin after SHIB and DOGE. Now, let's have a look at the four newly arrived memecoins on the Solana network.

1. GIGA

Gigachad (GIGA) is a community-driven cryptocurrency built on the Solana blockchain, celebrating the meme culture around the "Gigachad" figure. Inspired by Russian bodybuilder Ernest Khalimov, known for his idealized masculine physique, GIGA aims to promote self-improvement and masculinity. This coin is gaining popularity as it also ventures into building a fitness brand, attracting high-testosterone individuals dedicated to becoming true Gigachads.

Tokenomics and Market Stats

GIGA has a total supply of 10 billion coins. As of June 11, the coin's price revolves around $0.011, with a 24-hour trading volume of $16.68K in USDT. GIGA has a circulating market cap of more than $99 million at the press time. The coin's price dropped roughly 1.4% in the last 24 hours.

2. BENDOG

BenDog (BENDOG) is another Solana-based memecoin that recently caught the attention of the crypto audience. In 2017, Anatoly Yakovenko, the founder of Solana, sought advice from an unconventional source, BenDog. Known for his timely "Yeahppps," BenDog inspired Anatoly to push forward with his blockchain project. This support led to Solana's massive success, and BenDog became a beloved community figure. Today, BENDOG is a significant part of the community, inviting users to Benhalla, a creative ecosystem focused on next-gen blockchain games.

Tokenomics and Market Stats

BENDOG has a total supply of 999.99 million coins. As of June 11, the coin's price revolves around $0.016, with a 24-hour trading volume of $21.07K in USDT. BENDOG has a circulating market cap of more than $16 million at the press time. The coin's price rose roughly 5% in the last 24 hours.

3. LOCKIN

LOCK IN (LOCKIN) is a memecoin built on the Solana blockchain, featuring the trending social media slang "lock in." The slang means committing yourself to a task, cause, or goal as a man and getting it done with sheer determination. Just like Gigachad, the coin targets people with the same attitude of locking themselves in on their goals to achieve them.

Tokenomics and Market Stats

LOCKIN has a total supply of 994.56 million coins. As of June 11, the coin's price revolves around $0.024, with a 24-hour trading volume of nearly $13.69K in USDT. LOCKIN has a circulating market cap of more than $24 million at the press time. The coin's price dropped roughly 13% in the last 24 hours.

*This article does not constitute investment advice.