Top trending cryptocurrencies on Solana Chain today – Phauntem, Barron, Solama

Solana’s recovery over the past 24 hours has been remarkable. SOL bounced back today, recovering more than 10% of its decline after falling about 18% in price. The performance of the most popular tokens on the Solana Chain primarily fuels ongoing trends.

According to market data, several assets in the Solana ecosystem have recorded double-digit gains over the past 24 hours. The development of Phauntem, Barron’s, Solama and other cryptocurrencies has captured the attention of investors today with their impressive upward trends. Therefore, in this post, we will detail their activities.

Most Popular Cryptocurrencies on Solana Chain

Additionally, the chain’s newest tokens are also seeing a ripple effect from the inflow of funds. Newly debuted memecoin Smog recorded double-digit gains today. Moreover, the much-anticipated airdrop has increased interest in the token. Details on performance and other things investors need to know about Solana Chain’s trends are covered below.

1. PHAUNT

After an incredible price surge, Phauntem is listed as one of the most popular tokens on Solana today. A similarly sized increase in trading volume pushed the token price up over 262% today. The price change has increased interest in the token, which indicates that it may record further price rises in the coming days.

Additionally, the number of PHAUNT holders has increased dramatically, reaching over 1600. With a total supply of 9.9 million PHAUNT, the calculated market capitalization is $1.64 million. In terms of liquidity, PHAUNT has performed moderately well relative to its holder size. At the time of writing, the liquid value is $107,000.

Considering recent performance, it is best to look at the token’s future trends based on current data. It will help clarify whether the token will maintain its record as one of the most popular cryptocurrencies on Solana at the moment or whether it is just a temporary phenomenon.

Not a bad idea at all.#Phantom Technology https://t.co/rrnuskGyb4

— PHAUNTEM SOL (@phaunteum69) March 5, 2024

PHAUNT has ample room to increase its value considering the current memecoin season. However, more than 20% of the circulating supply is held by the top 10 wallets, which could impact the price of the token in the long run. As prices rise, these wallets may move to sell their holdings, causing prices to plummet.

Before making any important decisions about Phauntem tokens, it is in the holder’s best interest to observe which wallets are holding a significant amount of tokens. Otherwise, extreme volatility can cause prices to fluctuate wildly between highs and lows.

2. SOLAMA

Solama is currently marking its territory in the memecoin sector. At press time, the coin had over 6,000 holders, making it one of the most popular coins on Solana right now. The token price has risen 93% in the last 24 hours, with the community eyeing the goal of achieving a $1 price. Surprisingly, prices are trending against the overall downward trend in the cryptocurrency market.

Despite being a new cryptocurrency token, SOLAMA has achieved a market capitalization of approximately $8.5 million with a total token supply of 676.58 million. Rising prices can have a significant impact on the market capitalization of an asset in the future, causing its value to increase.

On the other hand, the decline in interest in memecoins recorded from yesterday to today may result in significant churn for future projects such as Solama. Prices may fall due to pressure from migrating holders. Therefore, if the selling in the sector continues, SOLAMA will likely not be on the top trending list.

We keep working hard 🔥

We just passed a new record of over 5,000. $SOLAMA holder

Do you know what that means? 🙌 🙌 🙌

this is just the beginning $SOLAMA 🦙🦙🦙🦙
💯

chart; https://t.co/mwDZALFXxr…@SolamaSPL $SOLAMA #solama #RideTheLama #SOLAMA_ARMY

TG:… pic.twitter.com/YvhstiS4Gm

— Solama | Solana Chain 🦙 (@SolamaSPL) March 3, 2024

Conversely, the project incorporates several initiatives to ensure Solama maintains its value over the long term. The community and token holders can use SOLAMA services as a medium of transaction and have access to play-to-earn games with rewards paid equally to users. The project also boasts a Solama store where participants can purchase branded items. It can also increase token demand and increase platform revenue.

Ultimately, the team behind a project can make it successful. However, as market data shows, it is still early days and investors should conduct detailed research before making a decision.

3. Barron Trump

With Coingekco’s new Politifi cryptocurrency category, we’ll likely see more memecoins leveraging this category to capitalize on the growing interest in politics. For example, Barron Trump is a meme cryptocurrency that was recently launched on the Solana chain. The project aims to create a community built on a philosophy of freedom and prosperity. Like Trump’s enigma, their community is made up of vibrant, non-conformist and decadent investors.

At the time of this writing, the price of BARRON has risen by almost 21%, entering the list of most popular cryptocurrencies on Solana. Trading volume also increased significantly. The price has been gradually increased since launch and the team claims that work is underway to increase the visibility of the token.

The community has completed over 1100 transactions since launch and has experienced a complementary increase in holder numbers. Based on current market cap, the company has a market capitalization of approximately $1.1 million.

Will BARRON maintain its trending status over the next few weeks or the rest of the quarter? Considering the current market performance and the plans proposed by the team, it is possible that BARRON could return to the training list or maintain his place on the list for some time.

According to a post on the project’s official Twitter handle, the community recently activated its token burning plan. It is reported that BARRON worth $20,000 will be taken out of circulation due to this action. As a result, the token’s price movement may react with a further upward trend.

What will be the next top trending cryptocurrency?

Smog has become one of the most popular tokens in the bull market since its fair launch. The token has amassed over $3 million since its debut on the Solana chain, and has earned its place on the top trending lists due to its incredible price-performance ratio.

In the last 24 hours, SMOG has recorded a price increase of over 50%, with many traders speculating whether the token will surpass $1 before the bull market ends. Despite yesterday’s Bitcoin drop, the SMOG community continued its quest to make SMOG the most meme cryptocurrency of the season. Currently, trading volume has increased by 110%, increasing interest.

Additionally, Team Smog has set itself a bold mission that will surprise the cryptocurrency community. This project set out to provide the largest airdrop in Solana Chain history. In pursuit of its vision, the platform is currently offering 49.38k holders the opportunity to participate in an airdrop. The procedure to be followed is explained on the official Twitter handle.

Depending on the current pace and ongoing airdrop plans, Smog may print more green candles in the future. Therefore, it is best to monitor trends to understand and capitalize on opportunities.

Visit the Smog website

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