Meme coins, often inspired by internet memes or cultural references, have gained huge popularity for their community-driven nature and potential for rapid price movements. When it comes to meme coins, two blockchain ecosystems stand out: Solana and Ethereum. Both these big platforms offer fertile ground for the creation and trading of meme coins. However, the process of buying meme coins on Solana and Ethereum may differ since their technological infrastructure and community dynamics are also different. Eventually, many crypto enthusiasts, especially those new to the space, may feel uncertain about how to buy meme coins on Solana and Ethereum.
But, nothing to worry about.
In this blog, we will demystify the process, providing clear, step-by-step instructions and insights into each platform’s unique features. All you need to do is read this detailed blog post. We’re sure that after reading this blog, you’ll be equipped with the valuable knowledge you need to buy meme coins on Solana and Ethereum.
Before You Dive In! Understand the Difference Between Solana Meme Coins and Ethereum
We know you’re very keen to know the answer to the question ‘How to buy meme coins on Solana and Ethereum.’ But before jumping straight into this topic, let’s look at the difference between Solana meme coins and Ethereum.
Solana Meme Coins
Currently, Solana meme coins have a market cap of $8,604,922,510. In March 2024, most of the Solana meme coins were ruling the market. However, it’s another story that their prices have to face a downfall in April due to a market crash. But still, Solana meme coins are the best-performing meme coins on the market.
According to Coin Gecko’s data, the top-performing Solana meme coins are given below.
dogwifhat (WIF):
It is a popular Solana meme coin that has a dog with a hat. On March 31, 2024, dogwifhat recorded the all-time highest price with $4.83. As of now, dogwifhat has a market capitalization of $2,680,394,520.
Bonk (BONK):
Let’s give you a little fun fact: Bonk is the first Solana dog coin that is dedicated to the people, by the people & 50% of the total supply to the Solana crypto community. It has a market capitalization of $1,860,089,564. On March 4, 2024, Bonk reached an all-time high price of $0.000004547.
BOOK OF MEME (BOME):
Created by the artist Darkfarms, the BOME coin has one weird face with a green background. Like other Solana meme coins, BOOK OF MINE recorded its all-time highest price of $0.00005848 in March 2024.
Let’s explore the reasons that Solana meme coins have become one of the market’s key leaders.
What Makes Solana Meme Coins So Successful?
Solana offers a wide range of unique features, which make this platform ideal for buying and trading meme coins. The following are the reasons behind the surging popularity of Solana meme coins.
1. High Transaction Speed and Low Fees
Solana is particularly known for its faster capability of processing thousands of transactions per second.
‘The faster the Transaction Speed, the more the chances of getting viral’.
Thus, Solana’s lightning-fast transactions perfectly fulfill the needs of this fast-paced world. In addition, Solana also imposes low transaction fees. This makes Solana more accessible and affordable for beginners.
2. Strong Community Engagement and Marketing
Compared to other platforms, Solana meme coins enjoy social media attention and limelight. Many meme coins on Solana have effectively leveraged social media, influencers, and community-driven marketing strategies to build and sustain hype and engagement. Thus, this active promotion always puts crypto enthusiasts in a chokehold, creating a sense of excitement and urgency in them.
Ethereum Meme Coins
Solana boasts various meme coins on its platform—so many that it’s challenging to count them all. In comparison, Ethereum has fewer meme coins, but what the platform has is top-of-the-game.
According to CoinGecko’s data, the top-performing Ethereum meme coins are given below.
Shibu Inu (SHIB):
Shibu Inu is the most popular meme coin after DogeCoin. Initially launched as a fun currency with 50% of the supply allocated to Ethereum’s wallet, it quickly gained mainstream success. The total market capitalization of this meme coin is $13,041,969,932. It recorded an all-time high price of $0.00008616 on October 28, 2021. Since then, it has been trading a bit low.
Pepe (PEPE):
Pepe is another famous meme coin with a market capitalization of $5,144,696,795. On May 27, 2024, Pepe recorded its all-time highest price at $0.00001717.
FLOKI (FLOKI):
In the last few months, FLOKI has reached new heights in terms of popularity and price surge. Many publications have even ranked it as the ‘Best Meme Coin to Buy in 2024’. As of now, it has a market capitalization of $2,475,505,179. On June 4, 2024, FLOKI recorded the all-time highest price of $0.0003449.
What Makes Ethereum Meme Coins Top of Their Game?
All three of the Ethereum meme coins mentioned here are some of the best-performing meme coins. What makes them so top on their game? Let’s find out here:
1. Established User Base
As you may know, Ethereum is the second largest cryptocurrency platform after Bitcoin. Thus, it’s obvious for Ethereum to have an established infrastructure. As a result, this established infrastructure and large user base at Ethereum offers a fertile ground for meme coins to grow and enjoy huge limelight. Moreover, the reliability of Ethereum as a platform also provides security for meme coins.
2. Innovative Use Cases and Ecosystem Development
Most meme coins start as jokes, but only some evolve over time. Ethereum meme coins are one of them. They have evolved to include some substantial user cases and ecosystem development. For instance, Shiba Inu has expanded its ecosystem to include a decentralized exchange (ShibaSwap), NFTs, and other blockchain-related projects. This provides additional utility and attracts more serious investors.
How to Buy Meme Coins on Solana and Ethereum
Now, let’s answer the question ‘How to buy Meme Coins on Solana and Ethereum, for which most of you would have clicked on the blog post. Knowing the difference between Solana meme coins and Ethereum meme coins is essential to understanding this question’s answer easily. That’s why we’ve briefly explained the differences.
Let’s first discuss the steps to buy meme coins on Solana.
Buying Meme Coins on Solana
Step #1: Set Up a Solana-Compatible Wallet
To buy meme coins on Solana, you’ll need a Solana-compatible wallet. Some of the popular choices may include:
- Phantom Wallet
- Solflare Wallet
- Sollet Wallet
Then, download and set up your wallet by following the instructions provided there. One more thing: make sure to securely store your seed phrase.
Step #2: Acquire Solana (SOL)
Most of you would have known SOL is the native cryptocurrency of the Solana blockchain, and you’ll need it to buy meme coins. Consider major cryptocurrency exchanges such as Binance, Coinbase, or Kraken to buy SOL. After purchasing it, transfer SOL to your Solana wallet.
Step #3: Connect Your Wallet to a Decentralized Exchange (DEX)
Solana’s most popular DEX is Serum. Follow these instructions to connect it.
- Go to the Serum DEX website.
- Connect your wallet (Phantom, Solflare, etc.)
- Ensure your wallet is funded with SOL.
Step #4: Swap SOL for Meme Coins
Now comes the important step.
Once your wallet is connected, you can swap SOL for meme coins, such as if you want to buy Samoyedcoin (SAMO).
- Search for the SAMO/SOL trading pair.
- Enter the amount of SOL you want to swap for SAMO.
- Confirm the transaction and approve it in your wallet.
Step #5: Secure Your Meme Coins
After swapping, your meme coins will be in your wallet. From here, your strategies and techniques will help you trade them.
Also, consider moving your meme coins to a hardware wallet for added security.
Follow these easy steps to buy meme coins on Solana.
Buying Meme Coins on Ethereum
Step #1: Set Up an Ethereum-Compatible Wallet
You’ll need an Ethereum-compatible wallet to buy meme coins. Some of the best choices may include:
- MetaMask
- Trust Wallet
- Coinbase Wallet
Next up, download and set up your wallet, and store your seed phrase securely (IMPLEMENT THIS STEP ATTENTIVELY),
Step #2: Acquire Ethereum (ETH)
You’re buying meme coins on Ethereum; thus, of course, you’ll first need to buy ETH to carry forward your process of purchasing meme coins.
You can buy ETH on exchanges like Binance, Coinbase, or Kraken. After buying ETH, consider transferring it to your Ethereum wallet.
Step #3: Connect Your Wallet to a Decentralized Exchange (DEX)
Ethereum’s most popular DEX is Uniswap (You would have surely heard this word once).
Follow these instructions to connect it.
- Go to the Uniswap website.
- Connect your wallet (MetaMask, Trust Wallet, etc.)
- Ensure your wallet is funded with ETH.
Step #4: Swap ETH for Meme Coins
Once your wallet is connected, you can swap ETH for meme coins. For example, if you want to buy Shiba Inu (SHIB):
- Search for the SHIB/ETH trading pair.
- Enter the amount of ETH you want to swap for SHIB.
- Confirm the transaction and approve it in your wallet.
Step #5: Secure Your Meme Coins
Your meme coins will be in your wallet. Adopt expert technique and strategies to do trading effectively. Make sure to move them to a hardware wallet for enhanced security.
Solana Meme Coins or Ethereum Meme Coins: Which is Ideal to Buy?
As explained in this blog post, both Solana and Ethereum offer unique advantages for buying meme coins. Solana is ideal for those looking for fast, low-cost transactions, while Ethereum has an established infrastructure that offers top-tier security.
We know you would be expecting a clear answer from our side, but the choice between Solana and Ethereum largely depends upon market trends. As of now, Solana meme coins are often considered to be a reliable choice for making investments. But who knows in which direction market trends will move tomorrow? So, we advise you to follow the expert suggestions and use your strategies to make this decision. We know you’ll make great investments.
Thanks for reading this. Happy trading!
Also, stay tuned for more interesting crypto-related blog posts.
