Solana Ecosystem Sees Growth with Meme Coins WOOF and BORK Surging

According to CryptoPotato, Solana has been in the spotlight recently, with its network experiencing an outage on Tuesday that lasted nearly five hours, followed by SOL's price skyrocketing to $105 and its ecosystem recording a total value locked (TVL) of $1.85 billion. The meme coin frenzy has driven significant traffic to the Solana network, with WOOF and BORK, two popular meme coins, showing growth of 50% and 70%, respectively. WOOF, a meme coin built on the Solana blockchain, aims to become the most decentralized meme/social token in the ecosystem. According to data from CoinMarketCap, WOOF's trading volume has risen 30%, currently trading at $0.00014, a 76% increase in the last seven days. WOOF stands for 'We Own Our Future,' emphasizing its community-led protocol's DAO and active participation in the project's trajectory. BORK, another meme coin on the Solana blockchain, saw significant gains in the last seven days, closing the week at $0.0006142, a 50% surge. Inspired by the viral internet meme Bork, also known as Gabe the Dog, the project aims to establish itself as a top memecoin within Solana and create a sustainable community of retail investors. BORK has gained attention for its rapid rise in the memecoin scene, with a trader reportedly achieving gains of approximately 2,250 SOL (around $245,000) in just five days, starting with an initial investment of 4 SOL shortly after discovering BORK 10 minutes after launch. Solana's ecosystem has seen an uptick in price and network activity, with SOL reaching $110 on Friday. Last week, CryptoPotato reported that Solana's TVL rose to $1.74 billion, marking a nearly 500% increase since October 2023. However, Solana's ecosystem quickly surged to $1.85 billion a day later, signaling the rapid resurgence of the Solana DeFi ecosystem.