---
title: "Solana ‘memecoin season’ tokens see profits up to over 7,300%"
url: https://diffcoin.com/solana-memecoin-season-tokens-see-profits-up-to-over-7300/
description: "Solana DEX volume hits $1.2B, nearing Ethereum's as \"memecoin fever\" takes hold. Tokens like BONK, Dogwifhat, and Ribbit ride the hype wave."
published: 2023-12-21
updated: 2023-12-21
author: "Mila"
site: "Diffcoin"
---

# Solana ‘memecoin season’ tokens see profits up to over 7,300%

#### Share this article

Solana has been gaining traction in December. The total traded volume in Solana’s decentralized exchanges (DEX) reached $ 1.2 billion in the past 24 hours, surpassing Ethereum’s $ 1.1 billion, according to DefiLlama. Analyzing the past 7 days, Solana DEXes are $ 444 million short of Ethereum mainnet volume, which is historically close.

The reason behind this rise in Solana’s trading activity is a ‘memecoin fever’, prompted by the token known as BONK. In December, BONK rose 572% until it peaked on the 15th day of the month. Even after a sharp 43% fall, the memecoin is still 327.4% up from December 1.

The movement was enough to create waves in the ecosystem and make liquidity flow to new tokens, like ‘Dogwifhat’ (WIF). Created on December 13, the token skyrocketed by 7,363% within six days. Even after a 43% pullback, WIF is up 2,449% in its first week.

The memecoin fever could be a result of more liquidity entering the market in the fourth quarter of 2023. From October 1 to December 19, $ 5.5 billion in stablecoins entered the crypto market, shows data from Artemis Terminal. This is the first sign of growth from stablecoins market cap since November 15, 2023.

Another reason behind the interest in memecoins might be the 63% rise in Bitcoin’s price in the fourth quarter. After a rally fueled by the expectation of approval for the first ETF indexed to Bitcoin’s spot value, traders got excited to look for more profitable crypto assets on the market.

The third memecoin that benefited from the current market status was Ribbit (RBT). The RBT token grew 865.5% in value between December 1 to 19, when its price met its peak. The all-time high was met with a 77% correction, but RBT is still 135% up from its December 1 price level.

#### Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

[Source link](https://cryptobriefing.com/solana-memecoin-season-tokens-see-profits-up-7300/?utm_source=feed&utm_medium=rss)