The Top Meme Coins In The Solana Ecosystem (SAMO Vs WOOF Vs FLOOF)

Meme coins are all the rage these days with the likes of Dogecoin (DOGE), Shiba Inu (SHIB), and others dominating the crypto circles with strong communities behind them. It’s not surprising to witness such strong passion toward meme coins as they are, perhaps, the easiest and least complex point of entry for the mainstream populace into the crypto space.

While the above-mentioned meme coins continue to enjoy heightened popularity, it is also true that trading such coins on Ethereum-based decentralized exchanges is quite a challenge for users due to the Ethereum blockchain’s sky-high fees. Trading coins on centralized exchanges has its own set of challenges such as giving up on the custody, the risk of the platform getting hacked, the exchange going down during peak market hours, and others.

The aforementioned sets of challenges might force one to think if there’s an alternative to trading meme coins without giving up on the custody of such coins while also not facing the wrath of the Ethereum gas fees?

Fortunately, there is. The trick is to explore the meme coin ecosystem of competing blockchains such as Solana.

In this article, we will deep dive into some of the top meme coins in the Solana ecosystem and present a case as to why they hold the potential to run hard during the current crypto bull run.

Samoyedcoin (SAMO)

Inspired by the charismatic FTX crypto exchange CEO Sam Bankman-Fried and Solana Labs CEO Anatoly Yakovenko, SAMO positions itself as the Dogecoin (DOGE) of the Solana ecosystem. The project has a total supply of 14,000,000,000 SAMO tokens out of which a total of 64% will be burned over three separate events. Notably, 2.1% of the total SAMO token supply has already been burned.

The project was launched in April 2021 at the peak of the crypto bull run and airdropped 14.4% of its total supply to the community. In addition, Samoyedcoin set aside 10% of its token supply for marketing and growth while 3.9% of the supply sits with the team behind the project.

According to Samoyedcoin’s roadmap, the token is expected to get listed on more exchanges in the coming days to not only make it easier for users to buy SAMO but also boost the token’s liquidity across different markets.

At the time of writing, SAMO is trading at $0.15 with a total market cap of more than $460 million, according to data from CoinGecko. Individuals can trade SAMO at several centralized exchanges such as, Bitrue, MEXC, and others. SAMO is also available on Solana-based DeFi platforms Orca, Serum, and others.

Woof Token (WOOF)

The WOOF token is Shiba Inu (SHIBA) to Samoyedcoin’s Dogecoin. The second-largest dog-theme memecoin in the Solana ecosystem, Woof has experienced tremendous growth amid the ongoing memecoin frenzy, recording a price appreciation of more than 50,000% in a matter of just two weeks.

Woof describes itself as a Solana-based decentralized exchange (DEX) and non-fungible token (NFT) marketplace.

According to the project’s website, WOOF has a token supply of 1 trillion tokens whereby it burns 50% of the existing supply every day to exert a supply crunch over the token which, in turn, would help in WOOF’s price appreciation.

The project concluded its airdrop in May 2021 where it distributed 0.0001% of its total supply. Notably, assuming the recipient of the WOOF airdrop never sold their tokens, today they would possess 50x the amount of tokens that they received via airdrop.

Over the long term, Woof aims to develop an NFT marketplace where anyone can be a creator or a seller and can bid for NFTs at a flat cost. In addition, to make it easier for users to trade WOOF, the project has developed a DEX on its website with sufficient liquidity to allow for seamless token swaps.

At the time of writing, WOOF commands a market cap of $21 million with close to 19,000 holders.

Floof (FLOOF)

The last entry in our list of top memecoins in the Solana ecosystem, Floof is a recently launched dog-themed memecoin that has already burned 98% of its supply.

As far as their tokenomics go, the project takes a rather humorous approach with a total supply of 6,900,000,000,000,000 FLOOF tokens. Of the total, 98% of the supply has been burnt to date with plans to burn even more supply in the coming days.

According to its roadmap, Floof is eyeing the launch of a play-to-earn game during Q1/Q2 2022.

At the time of writing, Floof commands a market cap of just over $7 million, making it the largest beta play among all dog-themed memecoins in the Solana ecosystem.

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