- Solana-based meme coins such as Bonk Inu, dogwifhat, and Myro have gained popularity, with their ability to outperform Dogecoin depending on technological advances, community growth, and market acceptance.
- Their success is closely tied to SOL’s performance, which has recently rallied substantially.
What are the Odds?
Solana-based meme coins, such as Bonk Inu (BONK), dogwifhat (WIF), and Myro (MYRO), have taken center stage as of late, charting explosive gains and capturing the investors’ attention. We decided to ask ChatGPT whether their progress would continue throughout the year and if one of them could eventually flip the largest meme coin by market capitalization – Dogecoin (DOGE).
The AI-powered chatbot claimed that such a scenario is highly speculative but possible if certain factors take place. It started its analysis with BONK, claiming the token could surpass DOGE if it underwent major technological advantages and increased the size of its community base.
ChatGPT noted that newer cryptocurrencies have a better chance for rapid growth, meaning Bonk Inu might have already missed its best moment. The asset was airdropped to the Solana community in December 2022, with its price skyrocketing to an all-time high a year later.
The chatbot maintained that WIF is very similar to BONK, and its possible success hinges on its distinct features, use cases, and market reception.
The meme coin saw the light of day less than two months ago and quickly turned into a sensation. At one point, it caught the eye of prominent figures, such as BitMEX’s co-founder Arthur Hayes, who jokingly posted a photo on X (Twitter) wearing a hat (making a reference to the coin’s logo and name). In addition, Binance, Coinbase, and many other leading exchanges embraced WIF, pushing its price to a peak of over $0.45 in mid-January.
Last but not least, ChatGPT touched upon MYRO, suggesting its potential to become the number one meme coin depends on how it would differentiate itself in the cryptocurrency market, technical advancements, and adoption rate.
Another Important Factor
It is safe to assume that the possible rally of the aforementioned meme coins also hinges on Solana’s (SOL) performance. The asset has been among the trendiest cryptocurrencies in the past several months, witnessing a price increase of around 1,000% throughout 2023.
Numerous analysts believe the uptrend would continue this year. Those willing to dive deeper could take a look at our dedicated video below: