MEW, WIF and Solana Meme Coins are soaring with increased online activity

According to market update reports, meme coins in the Solana ecosystem have seen significant growth over the past week, greatly surpassing the broader crypto market. Data from CoinGecko shows that the total market value of meme coins on the Solana blockchain has significantly increased over the past seven days, reaching $9.2 billion as of July 24.

Among them, "Cat in Dog's World" (MEW) had the highest increase over the past week, rising by 82%, and increasing by 1.4% in the last 24 hours. "Super Chad" (GIGA) also saw a double-digit increase, up 45.5% over the past week and up 9% in last 24 hours. The largest Solana-based meme coin "Dogwifhat" (WIF) rose by 1.8% on that day and grew by 21.5% within a week with its market value reaching $2.54 billion dollars . Notably, WIF accounts for nearly one-third of total market value of Solana's meme coins.The recent surge in MEW price came after WhiteBIT cryptocurrency exchange based in Ukraine announced on X that it had listed this meme coin on July23rd . In addition , Demex ,a decentralized exchange based on Cosmos also announced listing MEW .

The bullish performance of Solana's Meme Coins reflects broader investor sentiment; CoinGecko’s recent report showed that this asset class became one of top narratives during Q2-2024.Meanwhile,the surge activity within solona network indicates investors' optimism towards solona network is not merely speculative but is based upon growing development activities and real user participation.