Dogwifhat, Bonk, Myro, Wynn: Star Performers Of Solana's Memecoin Rally, Though 'Majority Of The Game Is Rigged' Says Trader
Portfolio Pulse from Khyathi Dalal
The Solana blockchain's memecoins, including Dogwifhat (WIF), Bonk (BONK), Myro (MYRO), and Anita Max Wynn (WYNN), have shown significant gains, with Dogwifhat leading the rally. Solana (SOL) itself has seen its value increase, reaching $112, surpassing its April 2022 peak. The total value locked on Solana has also risen to $2.2 billion. Despite the gains, a trader highlighted the risks involved in investing in memecoins, pointing out issues like influencer manipulation and lack of developer commitment.
February 28, 2024 | 6:03 pm
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POSITIVE IMPACT
Solana (SOL) has experienced a notable increase in value, reaching $112 and surpassing its previous peak. The total value locked on the platform has also grown to $2.2 billion.
The increase in Solana's value and its total value locked indicates a strong performance and growing investor confidence in the blockchain, likely leading to a positive short-term impact on its price.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90