Unpacking the Rise and Fall of MIRA Crypto: A Comparison to Other Solana-Based Memecoins
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MIRA crypto’s 2024 journey – Is it the same as other Solana-based memecoins?
In a shocking turn of events, MIRA crypto has taken the cryptocurrency world by storm, with its market capitalization reaching an astonishing $80 million. However, this sudden surge in popularity begs the question: is MIRA crypto’s 2024 journey any different from that of other Solana-based memecoins? Let’s dive into the data to find out.
As we can see, MIRA hit a remarkable $80 million market cap on Thursday, only to drop down to just below $8 million at press time. The social experiment sparked goodwill and also saw early traders profit, resulting in some online consternation. But, as is often the case with the cryptocurrency market, this too shall pass.
The data paints an interesting picture when compared to other Solana-based memecoins. Comparing MIRA’s performance to that of Bonk [BONK], dogwifhat [WIF], and Popcat [POPCAT] reveals a stark contrast. The graph shows the rise and fall of these memes in mid-November, only to see a swift decline since then.
What stands out is Dogecoin’s ability to defend its gains better than POPCAT. This could be attributed to the fact that it remains the most popular meme in the market. Additionally, we can see a clear correlation between the price trends of these memecoins and the monthly active addresses on the Solana network.
The uptrend in September and the peak in November can be explained by increased participation due to the memecoin frenzy. However, this phenomenon has lost strength over the last six weeks, as evident from the data.
It is essential to note that MIRA crypto’s journey in 2024 stands out for its sheer magnitude and speed of growth. While other Solana-based memecoins have shown a similar pattern of rapid rise and fall, MIRA’s performance is unique in its ability to capture the attention of investors.
In conclusion, while it may be tempting to draw parallels with other Solana-based memecoins, the data suggests that MIRA crypto’s journey in 2024 is distinct.
Source: ambcrypto.com
