Telegram meme coins like SUN, DOGS, and NOT are becoming very popular. These new coins are taking attention away from Solana, which has been a big name in the crypto world. While many are focused on these Telegram coins, Solana might make a comeback soon and regain attention.
Key Points:
Telegram meme coins, such as SUN, DOGS, and NOT, have gained significant popularity. These new coins are diverting attention from Solana, which has been a prominent force in the crypto domain. While the focus remains on these Telegram coins, Solana may be poised to re-enter the spotlight.
Telegram Meme Coins and Their Impact
The launch of DOGS on the Ton blockchain on August 26 encountered some challenges. The network became congested, delaying transactions. To resolve this issue, the Ton Foundation requested validators to restart their nodes.
Another Telegram meme coin that garnered attention was Notcoin, which launched in May. Unlike DOGS, it did not encounter significant network problems. However, Notcoin's price experienced a 62% drop following an initial surge. DOGS' price also faced difficulties, particularly due to legal issues involving Telegram founder Pavel Durov.
Despite these challenges, Telegram meme coins continue to gain traction, shifting attention away from Solana.
SUN Token vs. Solana's Pump.fun
Among the Telegram meme coins, SUN is notably competing with Solana's meme coin platform, Pump.fun. On August 21, SUN surpassed Pump.fun in revenue generation, earning $585,000 compared to Pump.fun's $366,000.
Following Tron founder Justin Sun's promotion of SUN on his X account, the token's price surged by over 170%. It reached a high of $0.043 but has since corrected to $0.03118, still showing resilience.
Solana, however, remains a dominant force in the meme coin arena. As of August 29, Solana still ranks as the top chain for meme coin creation. Around 8,000 new tokens have been created on Solana, generating $458,000 in revenue. This highlights Solana's strength despite the popularity of Telegram meme coins.
Solana's Potential for a Comeback
Solana has a track record of recovering from challenges. Despite the current focus on Telegram meme coins, Solana may stage a comeback. Recently, Solana's price rallied from $20 to $144, showcasing its capacity for strong performance.
If Telegram's legal issues are resolved, its coins could experience further growth. However, Solana remains a formidable competitor and may reclaim the spotlight in the evolving market landscape.
Looking Ahead
Currently, Telegram meme coins, such as SUN, DOGS, and NOT, are commanding a lot of attention in the crypto market. But Solana is renowned for its resilience and may be poised to make a powerful re-entry into the market. As the market unfolds, both Telegram meme coins and Solana's performance will be interesting to watch.
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