Solana’s meme coin market is experiencing a remarkable surge this July, with $USELESS spearheading the charge. This satirical token, which many initially dismissed as a whimsical experiment, has experienced an explosive 85% increase in just the past week and an astounding 209% over the last month. The rally has left both skeptics and enthusiasts in awe, questioning whether these gains are a fluke or a sign of a broader trend.
Meme Coins: The Unexpected Contenders
Solana’s meme coins—$PENGU, $USELESS, and $WIF—are suddenly the talk of the crypto town. These coins, often seen as the jester in the serious world of digital currency, are capturing investor attention with their surprising performance. $PENGU and $WIF have followed $USELESS in its meteoric rise, echoing similar patterns that suggest a growing appetite for risk and novelty among traders. This mirrors the unexpected success of parody coins, as discussed in our recent article on Flipping Housecoin.
Here’s where it gets interesting: these coins are thriving despite their lack of intrinsic utility. As John Bennett, a cryptocurrency analyst at BlockAnalytica, wryly notes, “The allure of meme coins lies not in what they do, but what they represent—a rebellion against the conventional wisdom of the crypto market. They’re the underdogs that everyone roots for, even if it’s just for a good laugh.”
The Snorter Token: The Next Big Thing?
As these meme coins gain momentum, the crypto community is abuzz with speculation about the next potential breakout star: Snorter Token. Though currently under the radar, Snorter Token is rumored to be the next candidate for a similar surge. Its quirky branding and community-driven development have piqued interest, suggesting it might soon join its meme coin brethren in the spotlight.
Market analysts are cautiously optimistic. Amelia Tran, a blockchain strategist, suggests that “while meme coins are notoriously volatile, their ability to capture the zeitgeist of the market shouldn’t be underestimated. Snorter Token is positioned well, but whether it can sustain interest beyond the initial hype remains to be seen.”
A Historical Perspective
This isn’t the first time meme coins have captured the public’s imagination. Who could forget the Dogecoin frenzy sparked by Elon Musk’s tweets back in 2021? These events have set a precedent, illustrating how rapidly digital narratives can shift and influence market dynamics. The current rally in Solana’s meme coins might be the latest chapter in this ongoing saga of unpredictability and excitement. For more on Solana’s broader market movements, see our analysis on Solana’s recent price surge.
Yet, as history shows, these trends are fickle. They rise on waves of enthusiasm but can crash just as swiftly when the buzz fades. This inherent volatility raises questions about the sustainability of investing in such assets—especially given their lack of tangible value.
Looking Ahead: Boom or Bust?
The current surge in Solana meme coins raises a pivotal question: is this a fleeting phenomenon, or are we witnessing the genesis of a new market segment? For now, these coins continue to defy expectations, drawing in traders looking to capitalize on the hype. However, seasoned investors advise caution, urging newcomers to balance the thrill of potential gains with the risk of sudden declines.
The cryptocurrency world is, as always, a landscape of possibilities—both promising and perilous. As the meme coin narrative unfolds, the market will be watching closely to see if Snorter Token can live up to its speculative hype and if $USELESS and its peers can sustain their newfound momentum.
Only time will tell whether this meme coin rally is a flash in the pan or the beginning of a new era in crypto trading. As we move through 2025, investors and analysts alike will be keenly observing the whims of the market, ready to adapt to whatever comes next.
Source
This article is based on: Solana Meme Coins Surge: $PENGU, $USELESS & $WIF On Fire; Snorter Token Next?
Further Reading
Deepen your understanding with these related articles:
- BONK Leads Memecoin Amid Crypto Rally While the Token Approaches 1M Holder Milestone
- Japan’s Minna Bank Explores Stablecoins on Solana in Fireblocks-Led Study
- Will Solana, XRP, Dogecoin and Other Crypto ETFs Take Off?
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
