In a remarkable feat, Memecoin $MEW has soared to become the fifth largest cryptocurrency by monthly on-chain trading volume on the Solana blockchain. This achievement is highlighted by an impressive $1.15 billion in trading volume registered this month alone.
Solana’s Promotional Strategy Boosts $MEW
Solana’s strategic partnership with meme coin creators, involving airdrops of $MEW tokens to customers who pre-ordered their new smartphones, has contributed to the surge in trading volume. This promotional initiative, which caused a significant price surge in tokens, offers customers the potential to offset the $450 cost of the smartphone if the tokens maintain their current value.
Growing Interest in Solana’s Digital Currencies
The surge in $MEW underscores the increasing interest and trust the crypto community places in Solana’s digital currencies. Solana’s reputation for fast transactions and low fees further enhances its appeal among investors.
Current Market Status
Despite a 6.54% decrease in the last day, $MEW is currently trading at $0.006, with a market capitalization of approximately $489 million. Market analysts are closely monitoring $MEW’s trajectory as it becomes increasingly significant within the Solana network, potentially shaping the overall market.
