Solana has emerged as the best blockchain for meme coin developers. Indeed, Solana meme coins like Dogwifhat (WIF), Popcat, Book of Meme (BOME), and Bonk are some of the biggest players in the industry.
Dogwifhat has a market cap of over $2.2 billion while Bonk, Book of Meme, and Popcat have a combined valuation of over $3 billion. More Solana meme coins like Poodlana could continue to gain market share in the industry.
Why Solana meme coins are growing
Solana is one of the most popular blockchains in the world, helped by its low transaction costs and fast speeds. This means that users who transact in these tokens pay just a tiny amount in fees.
A good example of how low Solana fees are is to look at its fees this year. Data compiled by TokenTerminal shows that Solana has collected over $274 million in fees even as its network transactions jumped.
This means that platforms like Uniswap and Lido Finance have made more money than the second-biggest blockchain network in the industry. Ethereum, known for high fees, has made over $1.7 billion in fees this year.
Solana meme coins have also grown because of the hype surrounding them. This trend started after the successful launch of Bonk in 2023 which pushed its market cap to a peak of $2.6 billion.
Also, Solana has been incorporated with Pump.fun, a platform that helps users create their tokens easily. Some of the top Pump tokens are the likes of Iggy and Michi.
Poodlana is gaining momentum
Meanwhile, Poodlana, an upcoming Solana meme coin is gaining momentum. The most up-to-date data shows that the token has raised over $808k from global investors, less than 24 hours after it was launched.
A POODL token was going for $0.02 and the price is expected to rise to $0.023 in the next two days. Altogether, the token sale will end in the next 30 days followed by a launch in Raydium, one of the biggest Solana DEX.
Users can buy the POODL token with popular cryptocurrencies like Ether, USDT, USD Coin, BNB, Solana, and cash.
Poodlana is based on poodle, a popular Japanese dog. As a result, the developers hope that it will do better than other dog-themed tokens like Dogecoin, Shiba Inu, and Floki.
Poodlana is also targeting the luxury market as it describes itself as the Hermes of crypto. Hermes, known for Birkin, is one of the most popular luxury goods companies in the world. As part of this theme, the developers are launching a weekly meme catwalk where users will be win 2,500 USDT.
Some analysts believe that the current hype will help to popularize Poodlana, which will push its price higher when it debuts. However, like all assets, there is a risk that the token will not do well, meaning that investors should only add cash that they can afford to lose. You can buy the POODL token here.