Solana Memecoin skyrocketed more than 209%, top 10 addresses earned 30 times more profit
Recently, memecoin Silly Dragon (SILLY) based on the Solana network experienced a phenomenal surge, setting a new peak yesterday with its market capitalization climbing to the $140 million mark.
This dynamic cryptocurrency has attracted a lot of attention from the community, with the top 10 addresses, excluding centralized exchange (CEX) addresses, boasting floating returns (* Floating Profit) increases 30 times on average.
*Floating Profit: the profit level that users can receive immediately upon closing the transaction.
According to the latest data, Silly Dragon is trading at 0.1378 USD, marking a strong increase of 43.35% in the past 24 hours and an impressive figure of 209% in the past seven days. The performance of this memecoin has been closely watched by investors and enthusiasts eager to understand the factors contributing to its rapid rise.
Meme coin fever
Silly Dragon first appeared in the Solana ecosystem on Halloween this year, officially introduced by Anatoly Ykovenko, co-founder of Solana. This character represents the fresh and colorful energy of Solana's "life", promoting a sense of community cohesion and creativity.
"Silly Dragon" - Silly Dragon appeared when 2024 - the year of the Dragon in many cultures is approaching. This has led more and more people to look forward to new stories and innovations surrounding SILLY, potentially acting as a catalyst for breakthroughs in the Solana ecosystem.
Tokenomics play a key role in Silly Dragon's success. With a total supply of 1 billion tokens, the absence of transaction taxes ensures simple transactions, providing a user-friendly experience for investors. Liquidity pools (LPs) burn to maintain fairness and stability in the ecosystem, while surrendering mining rights helps ensure a fixed supply, enhancing security measures.
Silly Dragon's rapid growth in value and market capitalization underscores memecoin's growing influence in the cryptocurrency space. The Solana blockchain, known for its high throughput and low transaction fees, has proven to be a favorable environment for the growth and flourishing of innovative projects like Silly Dragon.
Silly Dragon price chart. Source: TradingView
