Solana (SOL) has recently experienced a round of bullish trend, with its price remaining strong. With the launch of the new trading platform Backpack Exchange, created by the former FTX team, and the increase in airdrop projects within the Solana ecosystem, the meme coin sector of the Solana ecosystem has also gained significant liquidity attention.

曾「拯救」 Solana 于水火之中

translates to

Once "saved" Solana from the fire and water

in English.

The encryption trading platform Backpack Exchange announced that it will launch Pyth Network (PYTH) and also launched a PYTH staking airdrop activity. By staking 5 SOL tokens on Backpack Exchange for at least 24 hours, users who hold Mad Lad and users who conduct trading activities on Backpack Exchange will receive PYTH tokens based on their trading volume, which further boosts the popularity of the Solana ecosystem.

Before the PYTH airdrop, Backpack had already launched the SOL/USDC trading pair, with a trading volume of 2.1 billion US dollars at the time of writing.

Backpack homepage information; source: Backpack Exchange

In addition, on November 16th, Jupiter Exchange, a Solana ecosystem trading aggregator, announced the details of the JUP community airdrop. The total amount of JUP is 10 billion, and 40% will be distributed to the community through 4 rounds of airdrops. This round will distribute 10% (1 billion) to the 955,000 wallets that directly interacted with Jupiter before November 2nd. There will also be airdrops for new users, and the team expects to start another growth-oriented airdrop before the token launch.

Backpack Exchange has gone live and Jupiter's airdrop is good news for meme projects in the Solana ecosystem, bringing a new wave of attention and liquidity.

Earlier today, according to CoinGecko market data, the Solana ecosystem's Meme token BONK has risen by 54.1% in the past 24 hours, reaching a historical high of 0.00000473 USD at the time of writing. As BONK's price continues to rise, community users can't help but ask, "What will happen to Bonk when liquidity flows out of Pyth?"

BONK is the first meme coin on Solana. Some users who did not participate in the previous cryptocurrency market may still be unfamiliar with this name. The Bonk team began planning the project on December 9, 2022, and called on other projects in the Solana ecosystem to interact. On Christmas Day, December 25, Bonk conducted a large-scale airdrop for the Solana ecosystem.

Related reading: "Why is the Bonk Shiba Inu coin so popular on Solana?"

According to the official statement from the Bonk team, their deployment is aimed at opposing the "Alameda" token economics. Tokens with low circulation and high FDV make it easier for them to manipulate prices, not only disrupting the market but also causing significant losses for most investors. We know that Solana was severely affected after the FTX incident, and the price of SOL plummeted, dropping below $10 at its lowest point, experiencing a serious liquidity crunch, and its ecological projects also fled one after another.

The emergence of Bonk is to maintain the confidence of the Solana ecosystem and SOL holders, so it airdrops 50% of its tokens to NFT holders and developers on Solana to arouse the enthusiasm of Solana supporters.

The price of SOL has indeed experienced a "rebirth" during the BONK frenzy, and at that time, in addition to the growth of SOL price, other projects in the Solana ecosystem also became active due to participation in the Bonk airdrop and integration, truly saving Solana from the brink of disaster.

It's almost been a year since the birth of BONK, and now it's become active again. Community users are comparing it to SHIB and speculating that BONK may be listed on mainstream trading platforms.

Can new firewood ignite old flames? The BONK team is working hard to answer this question.

Solana 上的 meme 狂欢

Solana's meme frenzy

Other meme coins on Solana have also gained popularity in the community, in addition to BONK, which has received enough attention. Since November, several meme coins have landed in the Solana ecosystem.

MYRO

MYRO's Twitter bio is "Solana founder's dog," with a strong presence of meme culture. MYRO is named after Solana founder @rajgokal's pet. The MYRO team aims to bring more appeal to Solana through memes and increase on-chain trading volume for DEX, NFTs, and tokens. They also donated $5,000 to the non-profit organization Dogs for Better Lives.

Many people believe that MYRO is the second largest meme coin on the Solana blockchain, and if "BONK is like DOGE, then MYRO is SHIB". The rise in the price of BONK has also caused the price of MYRO to skyrocket. According to Dex Screener data, the price has increased by 92.8% in the past 24 hours, and as of the time of writing, the price is $0.01854169.

RBT

It seems that meme coins on Solana all like to anchor to meme projects on Ethereum. The official website introduction of RBT is "ETH has PEPE, SOL has RIBBIT".

RIBBIT's total supply is 420,000,000,000. In this Solana meme coin frenzy, RBT's increase is amazing. According to Dex Screener data, the increase in the past 24 hours has reached 372.8%, and the price at the time of publication is 0.00000824 US dollars.

TOLY

TOLY is a meme coin launched by Anatoly, co-founder of Solana Labs. It claims to be a dog walker on Solana and often interacts with the MYRO community. According to Dex Screener data, as of the time of writing, TOLY's all-time high price is $0.001217, with a 24-hour increase of 402.90%.

On May 8th of this year, TOLY launched an airdrop for 24 Solana ecosystem projects and claimed that their developers do not own TOLY and do not have minting permissions. The founder of TOLY, Anatoly, stated that the project only has a Twitter account but will build the TOLY brand in the future.

CATO

CATO is another meme coin of Solana, and the task channel for it was opened at 23:00 on November 11th, Beijing time, and will continue until 8:00 on November 21st.

Similar to most meme coin airdrop tasks, CATO's airdrop task is also to "follow CATO's X account - like, comment, retweet - join the corresponding TG group chat - submit SOL wallet address". The real CATO airdrop will start after November 21st, with a total airdrop amount of 500,000 CATO coins.

According to Dex Screener data, CATO has increased by 12.7% in the past 24 hours. As of the time of writing, CATO is priced at 0.00177220 USD.

PIKO

PIKO is a meme coin on Solana. On November 20th, PIKO released its whitelist form, and at the time of writing, the addresses filled in the whitelist form accounted for 59% of the total. Meanwhile, PIKO announced that its airdrop event will be launched next week.

According to information released by PIKO, the total supply of PIKO is 10,000,000,000, of which 30% will be used for staking, 25% will be used for liquidity, 15% will be used for marketing, 10% will be reserved for the team, and 20% will be used for airdrops. In addition, PIKO trading will soon be listed on Jupiter and Raydium.

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia