Is BSC Taking Over Solana This Meme Coin Cycle?

This morning, BSC took over the trending meme coin list, totally displacing Solana. SOL is still leading this market sector, but BNB’s blockchain might be the best candidate to replace it.

Other chains, like Base and XRP, have enjoyed opportunities at long-term prominence, but these have both diminished. So far, BSC has the best infrastructure and community to actually take over this space.

Can BSC Usurp Solana?

Solana has usually been the top blockchain in meme coins, but a new contender may be gunning for its position. Recently, BNB Smart Chain (BSC) has risen in this market sector, as one analyst pointed out that it ousted Solana from the trendiest positions:

ALL TOP 5 TRENDING COINS ON DEXSCREENER ARE ON BSC

Of course, the list of trending meme coins is constantly churning, and statistics like this never last long. For example, at the time of writing, the 5-minute trending category has a different result.

All five of these leading assets are from Solana, not BSC, and the two blockchains are neck-and-neck in the one, six, and 24 hour leaderboards.

Solana Meme Coins Trending. Source: DEXScreener

Still, an upset like this doesn’t just fall out of the sky. BSC has to be a serious contender to even briefly contest with Solana like this. Compared to BSC, is there any other blockchain that has a shot at taking over the meme coin sector? What does BNB Smart Chain have that these other projects lack?

Meme Coin Contenders Explained

A year and a half ago, there were market rumors that Base could replace Solana in this area. However, security vulnerabilities turned some investors off, which has discouraged a native meme coin community.

This has caused growth to stagnate, and a lack of popular launch rails and fragmented liquidity across EVM venues and bridges have further stifled its growth.

When it comes to an enthusiastic “meme-native” community, it seems like there’s no alternative to XRP. XRP meme coins also enjoyed a popular moment last year, but this sector has apparently withered on the vine. A few projects continue to stand out, but most XRP meme coins are more or less dead.

Comparatively, BSC is in a solid place to overtake Solana.

Although Binance has somewhat distanced its branding from BNB and BSC, ecosystem integration and leverage still help these projects reach a larger audience. The blockchain is actively building meme coin launch rails, while Solana is showing signs of saturation and fatigue.

BNB is also enjoying a surge in popularity, which seems like a bullish sign for the rest of its blockchain ecosystem:

BNB Price Performance. Source: CoinGecko

In short, BSC has a lot of factors that could allow it to overtake Solana. Today’s success over the trending token list does not necessarily guarantee a long-term victory, but BSC is the best contender to achieve this goal.

Unless another blockchain can build up a similar community and infrastructure, it’s likely to maintain this prominence.