Solana Surpasses $120, Dog-themed Meme Coins BONK and WIF Gain Momentum
Although it is the Christmas holiday, SOL continues to surge and broke through $120 this morning. Solana’s protocol fees have not only exceeded Ethereum’s, but the dog-themed memes BONK and WIF on the chain have also gained traction, attracting attention from the public.
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SOL Continues to Soar, Breaking Through $120
Solana’s DEX Raydium’s revenue in the past 7 days surpasses Ethereum
Dog-themed memes gain momentum
Although it is the Christmas holiday, SOL continues to surge and broke through $120 this morning, remaining just half of its distance from the 2021 high of $259.
According to data from DeFiLlama, Solana’s ecosystem DEX Raydium has generated $87 million in revenue in the past 7 days, surpassing Ethereum. The top five chains or protocols in terms of fees and revenue in the past seven days are Bitcoin ($117 million), Solana’s ecosystem DEX Raydium ($87 million), Ethereum ($80.57 million), Avalanche ($30.67 million), and Uniswap ($16.29 million).
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According to Decrypt’s report, dog-themed meme coins have been popular on Solana for weeks, starting with the craze of BONK and now Dogwifhat (WIF). WIF has surged by 46% in the past 24 hours and it features a dog wearing a hat.
Even Ryan Selkis, the founder of research firm Messari, tweeted:
“Every billionaire I know is asking me how to buy a dog with a hat today.”
Ram Ahluwalia, CEO of asset management company Lumida, replied:
“The answer is Monopoly.”
This article does not constitute investment advice. Please DYOR before trading.
(BONK: Has the surge in Solana smartphone sales turned it into an airdrop tool? The value of the complimentary $BONK token has exceeded the price of the phone)
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