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Primarily Solana (SOL), along with two other Solana network-based altcoins, Dogwifhat (WIF) and Bonk (BONK), continue to stay on investors’ radar. Despite the recent downturn in the cryptocurrency market, these three altcoins hold promise for wealth-seeking investors.
Solana (SOL)
The main network asset of the Solana network, SOL, continues to maintain its strong position in the decentralized finance (DeFi) sector by using Blockchain technology to solve significant problems in the finance world. As of this writing, SOL is trading at $124 and has risen 7% over the last 7 days according to data.
The total value locked (TVL) in DeFi applications on the Solana network is steadily increasing, which particularly boosts the popularity of Solana-based memecoins. As a result of the increase in TVL, the price of SOL is also rising. Despite recent declines, this major altcoin has increased its value by 462% over the past year and ranks fifth in the list of the largest cryptocurrencies with a market value of $55 billion, according to CoinMarketCap data.
Dogwifhat (WIF)
A Solana-based memecoin, WIF, has seen a notable decrease in market activity. Its price has fallen over 7% in the last 24 hours to $2.43. However, since its launch on March 10, WIF’s price has risen by 1,344% and reached an all-time high of $4.85 on March 15. This situation has positively influenced other memecoins as well.
WIF has been trading between $2.40 and $3.54 for a while, and the popularity of Solana and a potential recovery in the overall cryptocurrency market could drive the altcoin’s price upward again.
Bonk (BONK)
Inspired by other Solana-based memecoins, BONK, which distributed half of its supply to Solana users, has made a significant impact and raised its market value to over $1.5 billion.
At the time of writing, BONK is trading at $0.00002287, having fallen over 6% in the last 24 hours, but since its launch, it has shown a remarkable rise of 3,830%. BONK could be a promising investment based on Solana’s popularity.
