Sui meme coins, not typically seen at the forefront of the sector, are surging in volume recently. Their market cap is far smaller than Solana meme coins, but it’s also growing fast.
LOFI, a meme coin deployed on the blockchain, surged by over 186% in a week. If fresh DEX trading volumes start flowing into these assets, Sui could be the next emerging ecosystem for meme coins.
Are Sui Meme Coins About to Explode?
Meme coins based on Solana have been getting a lot of attention lately, with surging trade volumes and token prices. This has fueled speculation that Solana’s poised to lead a new meme coin boom, especially as the sector is exposed to new risks.
However, Sui meme coins are gaining some unexpected traction, and DEX volumes are noticeably soaring.
Sui is a high-performance Layer-1 blockchain that shares many similarities with Solana but several key differences.
Its design focuses on scalability, using parallel transaction processing and an object-centric transaction model to achieve this aim. Sui’s ecosystem is much less mature than Solana’s, but this could present opportunities for meme coins.
Sui’s developers are constantly working on upgrades to encourage new projects, some of which are explicitly geared towards meme coins. Solana’s 6.3 billion meme coin market cap grew by 2.4% in the previous 24 hours, while Sui’s increased by 4.6%.
LOFI grew 184.5% in the last week, highlighting its dedicated community.
LOFI’s impressive rise stands out, but several other projects on the layer-1 network have also attracted speculative interest. Meme coins thrive on community hype, and the blockchain’s DEX volumes are soaring.
If this high performance and committed enthusiasm connect with fresh investors, it could present an explosive opportunity.
For now, Sui’s meme coin ecosystem has a ways to go, with a total market cap of $123 million. However, this sector moves fast, and the Sui ecosystem could be poised to make some major growth soon, if meme coin enthusiasts continue to trade.
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