The recent memecoin frenzy has put 3rd generation blockchains—Solana and Avalanche—forward, with the meme tokens in their ecosystem surging by over 20% in the past 24 hours.
The memecoin season kicked off with Solana’s BONK token, which has witnessed an incredible gain of over 540% during the past month alone.
Another dog-themed memecoin, Dogwifhat (WIF), has also become a popular memecoin in the Solana ecosystem, having gained over 72% over the past 24 hours, according to Dextools data.
While Solana is leading the memecoin mania, a meme token on Avalanche, Coq Inu has surged over 46% in 24 hours. Coq Inu is a hen-themed memecoin, and it has reached a fully diluted market cap of $280 million while being deployed on December 7.
These memecoins have fueled both the Solana and Avalanche ecosystems, with SOL and AVAX gaining nearly 10% in the past 24 hours, according to crypto market data from Coinmarketcap.
Also Read: Safety Shot Plans $25M BONK Memecoin Treasury But Share Slumps 50%
