Solana's "Dog Days" season continues to be hot. Have you made quick money from it?
Solana's series of meme-based dog coins have taken off, with some explosive growth not only fueling lively market discussions, but also contributing significantly to the continued hotness of the Solana ecosystem.
Among all the public chain inscriptions, Sols has always performed exceptionally well. Therefore, last week, Bitget announced that it will launch the inscription token Sols on the Solana chain and open a trading channel on December 15th. Subsequently, Magic Eden's market data showed that the floor price of Sols exceeded 100 SOL, setting a new historical high. This caused many people to be amazed.
Against this backdrop, a trader made a huge profit of $1.47 million in just five days by investing in the Meme token WIF on the Solana chain. The trading volume of Solana DEX also surpassed $5 billion, once again breaking historical records and even surpassing Ethereum within 24 hours.
Although most users trade on Solana DEX such as Jupiter and Raydium, most of the local transactions are conducted on Birdeye and Meteora.
SILLY
During this series of prosperous scenes, several special tokens have attracted special attention.
First is SILLY, a "meme form" that was created because Solana Labs co-founder Toly wore a "dragon-shaped" outfit at the Breakpoint conference. The launch of SILLY, combined with the influence of the concept of the Year of the Dragon next year, quickly made it the focus of the market.
Not only spreading offline, on December 26th, Toly also said on social media: "Urgently need the Shalong Meme."
ZERO
According to BlockBeats, the ZERO token briefly broke the price of $1.7 on December 15th and then fell slightly, but still saw an astonishing 1,952% increase within 24 hours. This strong market performance has made ZERO a focus of attention for investors and market observers.
ZERO is a Solana-based token that combines the concepts of inscriptions, memes, and gambling. Its total supply is 21 million, with 10.5 million being minted at a price of 0.08 SOL, and all proceeds will go into the AMM pool. This unique structure has sparked heated discussions within the crypto community, despite being in its very early stages.
ZERO token was founded by @Pland__, an early Ordinals OG and Solana developer. Pland pointed out that Sols is not purely an inscription, but essentially an NFT, and there are hidden fees in NFT inscription verification. Therefore, he launched the Meta Protocol protocol through inscription technology and launched the Fairmint of pure inscription Zero on Solana.
Fairmint's mechanism is quite unique: it lasts for 10500 Solana blocks, each block is about 300 milliseconds, with a total duration of about 90 minutes, and there are 10500 inscriptions in total. The hash value of each block extracts a number, and when it is even, the first number closest to the block hash value from top to bottom in the block transaction is the winner, and vice versa when it is odd. Each transaction charges 0.08 Sol and is added to the Zero pool.
This innovative distribution method has given ZERO a unique position in the Solana ecosystem. The probability of winning the lottery is about 8%, which has led to a market value of $1.3 million when joining the pool. In the Solana ecosystem, many new projects are quickly snapped up, but the Meta Protocol's implementation of Fairmint's innovation through Ordinals technology and principles may be one of the reasons why ZERO is so popular.
BONK
Since October, the BONK token has increased by over 19,103%.
In the Solana ecosystem, the emergence of BONK token as the first Meme coin has not only attracted widespread attention in the market, but also achieved significant market value growth in a short period of time. Its story and influence are an interesting exploration of the entire cryptocurrency field.
BONK is the first meme coin on Solana, which was planned by the Bonk team on December 9, 2022. The launch of this project coincides with Christmas, and the Bonk team took advantage of this opportunity to conduct a large-scale airdrop on the Solana ecosystem. The introduction of BONK tokens aims to oppose the so-called "Alameda" token economics - an economic model characterized by low circulation and high FDV (fully diluted market value), which makes price manipulation easier, disrupts the market, and causes significant losses for most investors.
Related reading: "Why is the Bonk Shiba Inu coin so popular on Solana?"
The Solana ecosystem suffered a heavy blow after the FTX incident, causing the price of SOL to plummet and liquidity to tighten. Against this backdrop, the Bonk team launched the BONK token to maintain confidence in the Solana ecosystem and SOL holders. To achieve this goal, the team decided to airdrop 50% of the BONK tokens to NFT holders and developers in the Solana ecosystem, in order to stimulate community vitality and support for Solana.
Recently, the market performance of BONK token has been remarkable. According to Bitget market data, BONK briefly broke through 0.000028 USD on December 15th and saw a 92% increase within 24 hours. This momentum not only set a new historical high for BONK, but also earned it a place on the cryptocurrency market value rankings.
It is worth mentioning that during last year's Christmas season, Solana developers received BONK airdrop gifts, which are now worth over $500,000. This phenomenon not only demonstrates the market potential of BONK, but also highlights the volatility and potential returns of the cryptocurrency market.
According to PAULY, the founder of @NotLarvaLabs, there are 41 wallets on the chain holding $BONK tokens worth over $10 million, which has caused many people to fomo.
Saga 手机成空投载体
translates to
Saga phone becomes an airdrop carrier
In addition, the rise of BONK token is also related to Solana's launch of Saga Web3 mobile phone. Each phone comes with 30 million BONK tokens, which are currently worth about $640 due to the recent significant increase in BONK's value, exceeding the price of the phone itself. This unique marketing strategy not only boosts the sales of Saga phones, but also further promotes the popularity of BONK tokens.
Saga phone was initially launched on May 8, 2022, at a price of $1000, positioned as the flagship Android phone of the Solana ecosystem. This phone has 512 GB of storage space, two rear cameras, a 6.67-inch OLED display, and fingerprint unlocking function. More importantly, it has a dApp Store specifically for encrypted applications and a secure element for storing the private keys of encrypted users, thus separating these sensitive data from other data on the phone.
However, due to market response and other factors, the price of Saga dropped from $1000 to $599 in August 2022. Despite the price reduction, the deep integration of this phone with the Solana ecosystem remains its main selling point, including support for the self-custody key solution Seed Vault and access to decentralized applications.
Due to the rise of BONK, Saga phones have achieved significant success in the US market and have officially sold out. Kyle Samani, co-founder of Multicoin Capital, stated on social media that Saga owners of Solana Web3 phones are expected to receive a large number of airdrop activities within the next 12 months.
Therefore, according to the information obtained by BlockBeats, Saga's premium rate in the secondary market has reached 500%, with a selling price of up to $3,000. This is an extraordinary phenomenon that greatly enhances the market value and attractiveness of the Saga phone.
Currently, it seems that the popularity of Solana in the crypto industry has not ended. According to Gem Insights, within the past 24 hours, the trending tokens that ranked in the top 10 on @solana include WIF and BCOQ, which have relatively high levels of heat.
BlockBeats reminds that the MEME market is easily influenced by FOMO emotions, and the vast majority of tokens are showing violent capital rotation. Investors need to be cautious when participating. This article is only for review purposes and does not represent any investment advice. Readers should pay attention to risk identification and DYOR.
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