The Latest Crypto Bull Run Has Commenced, and Memecoins Sure Are Shaping Up to Be the Sector Where the Real Fun Is

CoinGecko's Q3 crypto industry report highlighted memecoins and Solana memecoins as the top two crypto narratives of the third quarter of 2024

Cryptocurrency prices have been on a roll since Trump took over the US Presidency, and as of November 12, Bitcoin resides above $86K. During Trump’s campaigning, Elon Musk was a key supporter of his pro-crypto stance, and he proposed a new government agency called the “Department of Government Efficiency”, the acronym to which neatly forms the ticker for a well-known memecoin. Rumors have it that this crypto could be involved more within the Trump government than just being an acronym for a department, which has sent memecoins in particular soaring.

The latest crypto bull run has already commenced, and memecoins sure are shaping up to be the sector where the real fun is. CoinGecko’s Q3 crypto industry report highlighted memecoins and Solana memecoins as the top two crypto narratives of the third quarter of 2024, and the latter is living up to its potential in Q4. Solana mememcoins’ aggregate market cap went past $16 billion on November 11, with their single-day trading volume reaching $10 billion for the first time ever.

Solana memecoins’ performance, November 11, 2024

When you put the market cap of the sector ($16 B) against the aforementioned single-day active trading volume of $10 billion, you find a major bullish sign. Notably, $FOMO, $GOAT, and $BONK have emerged as the fastest growing crypto out of all the Solana memecoins.

Top three Solana memecoins to watch out for

1. $BONK (BONK)

Launched in 2022, $BONK is one of the very first memecoins on Solana. Following a long line of dog-based memecoins, BONK aimed to be “the people’s dog coin”. It has recently recorded a growing user base and a pretty strong trading volume. Buoyed by the hype surrounding the memecoin sector on Solana, $BONK is another good investment at the moment that you may want to focus on. However, do remember that simple memecoins like $BONK may struggle once the hype dies down.

2. $FOMO (FOMO.fund)

With a recent successful presale under its belt, $FOMO is flying high right now! FOMO.fund is a leading memecoin launchpad on the Solana blockchain, and the project has also just built the first ever AI agent launchpad on the same chain.

The platform helps token creators by offering a simple and fair launch, while putting its focus on community support and transparency. The fair launch system utilized by the project integrates a bonding curve model, letting token prices adjust dynamically based on supply and demand, which ensures steady liquidity. The recently launched AI agent platform further takes $FOMO into another exciting crypto dimension, given AI is also one of the top crypto narratives in 2024. FOMO.fund’s users can develop tokenized AI agents of their own in under a minute. These AI agents are not simply bots either, they are fully autonomous virtual personalities!

The agents can learn, interact with users, complete diverse tasks, create content, and even promote their own tokens on social media platforms like Telegram, Tiktok, X, YouTube, and more.

Fomo.fund further brings a gamification aspect to token acquisition, which encourages engagement in the community through fun games that reward the winners with $FOMO tokens.

As FOMO greenlights its first ever Initial Agent Offering (IAO), Fomo.fund has committed 15% of its total $FOMO supply to early community members through pre-sales. With FOMO’s strong fundamentals, its market cap is expected to reach $1 billion soon enough. The token shows 100x growth potential and exchange listings are anticipated soon; we’d definitely recommend getting a stake into the token as it skyrockets in the bull market!

3. $GOAT (Goatseus Maximus)

The $GOAT memecoin, affectionately known as the Goatseus Maximus, is trending for very good reason. The crypto went from nothing to over $700 million in market cap in the span of exactly two weeks in October, a clear sign of just how quickly fortunes are created in the world of crypto. $GOAT blended pop culture with crypto just like its numerous predecessors have done, but this one is one to keep a special focus on at the moment due to the current hype surrounding it, and the fact that it’s based on Solana- a blockchain where the memecoin sector is on a good run.

If you compare $GOAT to the likes of $FOMO, while the first one is a wager on the current popularity of memecoins and may not be sustainable once the hype dies down, the latter is a project with strong fundamentals with better real-world value, and may keep going strong years down the line.

Remember to do your own research before you go investing in any of our recommendations