The post Memecoin season fades on Tron and Solana as utility tokens explode appeared on BitcoinEthereumNews.com.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. As memecoin season fades, utility tokens like Rollblock are taking center stage, with RBLK surging 160% in just weeks amid growing demand. Just a few weeks ago, the memecoin season was at full tilt. Total memecoin capitalization went to an impressive $70b record high. However, Solana bled 40% of its yearly high, and so did SOL memes. Even Tron, which recently struck gold with the SunPump memecoin launchpad, has lost its luster.  But as the memecoin season continues to fizzle out, the potential of utility tokens to offer sustainable growth and real-world value is becoming increasingly apparent. One such promising utility token is Rollblock, which has turned into a gold rush and went up 160% in mere weeks. Let’s find out why. Tron’s meme frenzy fizzles Justin Sun embracing the meme culture on Tron was an important highlight of the memecoin season this year. In no time, the DeFi network blazed to new highs before sputtering to low investors’ interest.  Tron’s TRX, once riding high on a 24.8% surge, has now tumbled 9.5% from its peak. Although some Tron-based memecoins like Sundog and Muncat saw a surge likely spurred by social media buzz, the broader picture only shows waning enthusiasm.  Solana memecoins shed 30% Solana memecoins had a spectacular run this year. At the start, SPL meme coins, BONK and WIF blazed a trail that helped Solana token to its feet from the 2023 gut wrenching lows. But Solana’s recent flounders only elicited a ripple effect that shed over 30% from many SPL memecoins. The memecoin season’s fading frenzy has also dimmed Solana’s embers. Despite consistent accumulation at the $125 support level, SOL has struggled to break the $140…

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Filed under: News - @ September 16, 2024 9:28 am