Memes built on Solana have skyrocketed, surpassing their Ethereum-based equivalents by an astounding 800% so far this year. CoinMarketCap’s 2024 H1 report highlights meme coins as the most popular asset class, claiming 22% of the market.Â

H1 Reports Show Meme Coin SurgeÂ
Solana’s ecosystem leads the meme coin rally, holding a 9.64% market share. Solana meme coins remained stable and green for the past week.Â
Dogwifhat Takes the LeadÂ
Dogwifhat (WIF) surged 12.34% in the last 24 hours, topping the meme coin charts. It increased by 40.17% over the past week after a prolonged downturn.Â
SOL Memes Outperform ETH MemesÂ
Most SOL memes, launched in late 2023 or 2024, outperformed ETH memes established by 2023. SOL memes returned an average of 8,469%, compared to ETH memes at 962%. This surge was driven by WIF and BONK rallies.Â
Billy Breaks $100 Million Market CapÂ
Billy, a meme coin centered in Solana, was introduced via Pump.above $100 million in market capitalization, for fun. Billy, a meme coin centered in Solana, was introduced via Pump.above $100 million in market capitalization, for fun. The developer sold all tokens in 20 minutes, but the community propelled Billy to new heights. Billy’s market cap fluctuated over the weekend, reaching $117 million by Tuesday.Â
Celebrity Influence and ScamsÂ
Celebrity influence boosted Solana meme coins but also attracted scams. Hackers used Sydney Sweeney’s official X account to promote a fake Solana-based meme coin, highlighting ongoing cryptocurrency scam challenges. Solana meme coin Michi jumped 18% after Ariana Grande shared a meme featuring Michi and her music video.Â
Billy Surpasses DADDYÂ
Billy surpassed the Andrew Tate-endorsed meme coin DADDY, now holding a market cap of $71 million. This makes Billy the second-largest Pump.fun-launched token, trailing only Michi, with a market cap of $130 million.Â