We have seen the return of crypto bulls in the first half of 2024 and it’s clear that Solana meme coins have been on the winning side. Unsurprisingly, the Solana network has been receiving a substantial chunk of the liquidity that is currently flowing in the crypto market.

Since the bull run is yet to reach the exponential growth phase, then its safe to assume that the top Solana meme coins might be due for an impressive rally later this year. In this post we will look at the criteria to consider when selecting the top meme coins. We will curate the top 5 best Solana meme coins based on that criteria.

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The Criteria for the top 5 Solana meme coins

First, it is prudent to note that meme coins are risky business. There is no guarantee that any meme coin will rally or crash. Price action manipulation is a common thing in crypto. That said, here are some factors to consider before purchasing any meme coins.

  • The right time to buy: Those who make the most gains usually enter earlier than most. FOMO-ing in when the price has already achieved a significant uptrend runs the risk of contributing to exit liquidity. This also means that pullbacks and sideways price action after the initial pump present opportunities for good entries.
  • Understanding the type of meme coin: There are two main categories of meme coins. Community driven, and coordinated meme coins. The latter often end in rug-pulls after reaching specific price targets while the former tends to attract more capital and staying power. Active community.
  • Solana smart contracts: If you want to limit the risk of rug-pulls and narrow down to Solana meme coins that are likely to stay, then it’s important to inspect the smart contract you are dealing with.
  • Avoiding market fluff: Creators may pay for their coins to be promoted, hence a trending meme coin may not necessarily underscore growth potential.
  • Marketcap analysis: A meme coin whose marketcap as healthy organic growth is likely to perform well in the long term. Coins whose marketcap has been growing weeks or months after launch should have some priority.
  • Liquidity: Meme coins with healthy liquidity means profit-taking will be easy. Slippage losses are common when liquidity is low.
  • Buying on decentralized exchanges: You will need to hunt for the top Solana meme coins on DEXes since most of them are not traded on centralized exchanges.

 

While the above factors might be numerous, combining most of them will probably boost the probability of being in a winning trade.

The top 5 Solana meme coins we have listed for you

Dogwifhat (WIF)

It is yet another dog-themed meme coin that has been around since the end of 2023. This means it has a price history that is decent enough to gauge its performance based on most of the aforementioned criteria. Here’s what we gathered on Dogwifhat:

  • It already experienced its first major rally between February and April this year. It then experienced a pullback and demonstrated healthy consolidation just above the $2.4 price level.
  • It has been rapidly gaining traction and popularity largely thanks to strong community engagement. It maintains activity on both X and Telegram, as well as its own website.
  • It had a $2.5 billion marketcap which is quite impressive for a relatively young meme coin. A sign that it is able to attract a lot of investment. It had over $20 million worth of liquidity at the time of writing.
  • It is available on Raydium and Orca DEXes.

Book of MEMEs (BOME)

BOME was created by Darkfarms, the same developer behind the PEPE memecoin. It is also more than a meme coin because the developer’s intention is to create a meme library. BOME will be the governance token for that platform. As for our criteria-based assessment, here’s what we discovered:

  • It was launched in mid-March, during which it spiked, followed by a significant consolidation since then. Its sideways price action suggests that this meme coin could be a candidate for another rally.
  • Sources indicate that its community is currently working towards the further development in alignment with the meme library plans. We also found that the community is active on X and Telegram.
  • It has a healthy marketcap to liquidity ratio. Its marketcap was $779.3 million and liquidity was $60.5 million at the time of writing.
  • BOME is accessible on Solana through Raydium.

 

Slerf (SLERF)

This Solana meme coin has been around for a few months but has already had its fair share of controversy. Its developer accidentally burned presale tokensI, leading to $10 million in losses for investors. One could argue that this was overall good for the price action because of the reduced supply, such an event may also dent investor confidence. Nevertheless, SLERF has been making waves in the segment. Here’s what we know so far:

  • The price action has pulled back since its initial spike when it was launched in the second half of March. Consolidation has since been observed just above the $0.24 price level.
  • It is available for trading on Raydium.
  • Its community maintains activity on its website, X and Telegram.
  • It had a favorable marketcap to liquidity ratio with its marketcap at $153 million and its liquidity at $83.8 million.

Cat in dog’s world (MEW)

MEW made its debut towards the end of March this year and was an instant hit. For perspective, it achieved $150 million in trading volume just 3 hours after it was launched, indicating a healthy level of appeal. This was also evident in its price action which maintained a steady rally for the first 5 days of trading. Here’s how it faired in our criteria:

  • MEW’s present market value is a considerable discount from its historic high. Sell pressure has notably leveled out, indicating a possibly healthy entry point. It has been around for almost 2 months now.
  • It accessible on Solana through Raydium.
  • Healthy community activity through X, Telegram and its website.
  • MEW had a $297 million marketcap and a healthy $26.7 million liquidity figure at press time which is a healthy ratio.

 

Maneki (MANEKI)

You may have noticed there are quite a number of dog-themed meme coins. Cat-themed ones are now starting to enter the fold and MANEKI is among the few that have been climbing the ranks. This cute cat meme also has an anthem and fairs well in the criteria as seen below:

  • Active community and strong presence in Instragram, X and its website.
  • Is accessible on Raydium.
  • Has been around for a little over 3 weeks, during which its price action had its launch price spike followed by a significant pullback but is now starting to experience a demand resurgence.
  • Boasts of a healthy marketcap to liquidity ratio with the latter at $15 million and the former at $85 million.

Conclusion

While there are many other meme coins that could have made this list, these top 5 Solana meme coins mentioned above are the most promising based on our criteria.

Also check out our list of the top 10 best Solana  DEX in 2024.