Solana Network is one of the hottest blockchains of 2021. From its humble beginnings in January when $SOL was $1.50 til today, when the price is $202.75. It is one of the blockchains that performs the best out of all the so-called "Ethereum killers", alongside Cosmos, Cardano, Avalanche, Polkadot and Polygon. Cardano is on the 4th place after BNB and then there is Solana Network in the 5th place.
Alongside the fundamentally sound, respectable blockchains mentioned above, there is the memecoins. The undisputed king of memecoins is Dogecoin, currently the 10th largest by marketcap. Ahead of Avalanche, Algorand and Cosmos. It is safe to call Dogecoin the memecoin of all cryptos. Memecoins are driven by culture and either represent a movement or an underlying theme, rather than technical superiority and real-world use cases. Buying these cryptos is a bet on the culture.
Besides shooting into the top 10 list, Dogecoin ($DOGE) managed to start a massive trend within memecoins. Spawning several other dog-themed cryptos. One which just now surpassed the marketcap of the original, Shiba Inu ($SHIB).
There is little utility in any of these coins, which is kind of a fundamental factor of a memecoin. Dogecoin has been dubbed the "crypto of the people", but a more fitting label would be "mascot". That Dogecoin became the mascot of cryptos. Why cryptos? Because it is essentially a fork of Luckycoin, which has the same underlying blockchain technology as the Bitcoin spin-off Litecoin. It was also the first memecoin created, based on the Doge meme.
So, what is Shiba Inu? It is the dog-themed memecoin of Ethereum and ETH's mascot. While being a memecoin, it also possesses some use cases. But that utility is not the driving factor behind its impressive price growth, and not worth talking about.
Then there is Samoyed Coin ($SAMO). $SAMO has turned into the dog-themed memecoin and mascot of the Solana Network. Is it time to ape into $SAMO?
The spike in price came in the wake of the massive price hikes of $SHIB. Dog-themed coins are hot. Ethereum is hot = $SHIB rocket. Solana is hot = $SAMO rocket. Simple math.
Yesterday, $SAMO was whiffing at 0.24$ before regressing to sub $0.20 levels. Chances are that Solana's mascot will remain hot, along with other dog-themed coins. In that respect, $SAMO is in the best position to reach $1.
The current marketcap of Dogecoin is $38,509,825,471 with a price of $0.290524 per $DOGE.
The current marketcap of Shiba Inu is $40,927,747,921 with a price of $0.00007439 per $SHIB.
The current marketcap of Samoyedcoin is $589,937,142 with a price of $0.189339 per $SAMO.
At a price of $1 per $SAMO, the total marketcap "only" need to reach $2,750,000,000. Compared to the top dogs, that marketcap is within reach, at around 5x from current levels.
Several media sites have mentioned $SAMO alongside other dog-themed coins as one of the hottest, together with $DOGE and $SHIB.
As of October 30, 2021 02:00 UTC - Gate.io offer the trading pair SAMO/USDT and SAMO/ETH on their exchange.
You can sign up to Gate.io and start trading $SAMO through this link (get 10% cashback when signing up).
Several notable handles on Twitter have bought $SAMO and showing their support.
Infographic floating around on Twitter covering $DOGE, $SHIBA, and $SAMO.
Be irresponsible like @mdudas and ape into $SAMO (not financial advice):