Solana (SOL)-based memecoins seem to be among the most lucrative cryptocurrencies right now. While BONK was the talk of the town in 2023, rising by over 1300% since January last year, another SOL-based memecoin, MYRO, is taking the crypto market by storm right now.
MYRO has rallied by over 35% in the daily charts, over 104% in the weekly charts, and over 488% in the last 14 days. Moreover, since December 2023, the token is up by 325.8%.
The Solana-based memecoin’s price has more than tripled in 2024, with its market cap recently breaching the $100 million mark. MYRO has a market cap of over $115 million, while trade volumes have exceeded $25 million.
Also Read: Here is How Much $1,000 Invested in Solana (SOL) 3 Years Ago Would be Worth Now.
MYRO gets its name from Solana (SOL) co-founder Raj Gokal’s pet dog, Myro. The token launched on the SOL main net on Nov. 11, 2023. It follows a host of other dog-themed cryptocurrencies, such as Dogecoin (DOGE), Shiba Inu (SHIB) and BONK. The token is the third-largest SOL-based memecoin, after BONK and Dogwifhat (WIF). Investors can purchase the asset on SOL-based exchanges, such as Raydium and Orca, or other centralized, such as KuCoin, HTX, and MEXC Global.
Why are Solana (SOL)-based memecoins surging?
SOL-based memecoins began to rally when SOL saw a massive price spike. SOL is among the best-performing crypto assets of 2023, rallying by almost 1000% throughout the year. MYRO’s surge could be due to SOL’s gains.
Also Read: Solana (SOL) Could Be Poised For 50x Surge in 2024, Here is Why
Moreover, MYRO plans to introduce a new staking program and other utilities. Investors may be anticipating a price rise when the staking program goes live. Regardless, SOL-based memecoins seem to be on their way to snatching the memecoin crown from Dogecoin (DOGE) and Shiba Inu (SHIB).