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Solana meme coins have done well and gained market share this year.
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Developers have turned to Solana because of its faster speeds and low costs.
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Tequila (JULIO) hopes to become the next big thing in the meme coin industry.
Solana meme coins have done well this year as they became the biggest competitors to Ethereum ones like Pepe and Shiba Inu. Dogwifhat (WIF) has become the fourth-biggest meme coin in the world while Bonk and Book of Meme have continued to gain market share.
More Solana meme coins are being launched to take advantage of this trend. One of the most anticipated ones is known as Tequila (JULIO), whose fair launch will happen on July 10th.
Why Solana meme coins have done well
Solana meme coins have become the best-performing assets in the crypto industry this year. That happened as Solana became the best alternative to Ethereum’s ecosystem.
There are three main reasons for this. First, Solana is known for its quicker transaction speeds compared to Ethereum and BNB Chain. Solana can handle over 2,000 transactions per second (TPS) while Ethereum handles less than 50.
Second, Solana is known for its scalability sincer it is designed to scale with Moore’s Law, which implies that it does well as the computing industry improves.
Third, Solana has substantially lower costs than Ethereum and other popular layer-1 networks. It handles many transactions for just cents. A good example of this is in its total fees this year. While Ethereum has collected over $1.4 billion in fees this year, Solana has made less than $300 million.
Further, there is a lot of hype surrounding the success of Solana dApps this year. For example, decentralized exchanges (DEX) like Raydium, Jupiter, and Orca have constantly moved into the top ten of the biggest DEX networks in the industry. Also, Solana meme coins have made more headlines this year.
Tequila hopes to be a key Solana meme coin
The past few weeks have seen several drink-related tokens on Solana’s ecosystem. Beercoin and Water did not do well as insiders dumped the tokens shortly after launch, leading to substantially losses.
Tequila, which is a popular drink that originated from Mexico, hopes that it will become the biggest drink-themed token on Solana’s ecosystem. This is notable because of the role that tequila plays in the drinks industry. In 2023, Mexico shipped over 400 million liters and made over $32 billion in revenue.
Tequila will not have a typical token sale. Instead, it will have a fair launch on July 10th. A fair launch is where all tokens are issued instantly. After that, the developers hope to launch its marketing push and listings on key platforms like CoinMarketCap and CoinGecko.
This process will be followed by the listings on key centralized exchanges and the launch of tequila-themed parties. In the future, the developers will work to launch the utility features of the JULIO token, including its layer 3 networks. You can learn about Tequila (JULIO) here.
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