June 6, 2025 – Solana’s memecoin market cap is now $20 billion, and a new memecoin has joined it – MASK. This new cryptocurrency was launched recently, probably via the Pump.fun website, and is quickly gaining attention. MASK has achieved a market cap (total market value) of $15 million and a 24-hour trading volume of $50 million in just a short time. It is now competing with larger memecoins such as Ethereum’s Pepe ($PEPE) and Solana’s Dogwifhat ($WIF). MASK’s rise shows that memecoins are still very popular. Let’s understand in detail how it compares to other mimecoins.
MASK: Solana’s new fun coin
MASK is a mimecoin built on the Solana blockchain. It is growing solely on social media buzz and people’s curiosity. On the social media platform X (formerly Twitter), people are calling it a “moonshot” i.e. a coin that will go up very fast. Not much is known about its theme right now, but its initial figures are very strong. It has probably reached 10,000 holders and its liquidity (ease of buying and selling) is between $500,000 to $700,000.
Solana’s blockchain is very fast and it can do up to 65,000 transactions in a second, that too at a very low fee. This is why MASK is easy for common people to buy and sell. It is mostly traded on DEXs (decentralized exchanges) like Raydium. It is being marketed through viral posts. However, some people are also saying that some big wallets hold more than 3% of this coin, which may affect its price.
Like other memecoins, MASK also has no real use. Its price depends only on people’s interest and trading. Although it has started well, it is a big challenge for it to survive among so many memecoins.
Pepe ($PEPE): Ethereum’s largest memecoin
Pepe ($PEPE) was launched on Ethereum in April 2023 and now its market cap has reached $8.54 billion. In November 2024, its price rose 41.5% to $0.000011 and in a week it gained 142%. It has been audited by a company called Certik, in which it got a score of 91% – indicating that its code is secure.
Pepe is now present on all three – Ethereum, BNB Chain and Solana. It has a huge community which gives it strength.
Compared to $MASK, $PEPE is a much older and larger memecoin. Its market cap is $8.54 billion while MASK has just $15 million. But the advantage of MASK is that it is cheaper to transact on Solana, while on Ethereum it can cost $1 to $5 per transaction. $PEPE’s frog meme is very old and famous, while MASK’s story is still building. $PEPE has been audited, so the risk is less. On the other hand, MASK is still new and its price can fluctuate rapidly because some big investors hold a large share of it.
Dogwifhat ($WIF): Solana’s popular dog memecoin
Dogwifhat ($WIF), was launched on Solana in November 2023. By January 2025, its market cap reached $3.1 billion and its price was $3.14. It saw a tremendous growth of 1800% in 2024 and is also listed on major exchanges like Binance and KuCoin.
$WIF has a special platform called MemeVerse, which also includes NFT marketplaces. This makes it not limited to just memes or jokes, but also adds some use to it.
Compared to MASK, WIF has a much larger market (3.1 billion dollars), but both use Solana’s fast and cheap blockchain. WIF has things like NFT and MemeVerse, which make it stronger, while MASK is based only on social media promotion. WIF’s community has also been involved for a longer time, while MASK is still new and is connecting people by promoting on X (Twitter). But WIF has also fallen by 87% at one time, so MASK is also at risk of decline.
What will happen next and what are the risks?
Solana’s Memecoin market is trading $6.8 billion every day, and this is the reason that has helped MASK grow so fast. But in the last months of 2024, many scams and frauds have come to light, due to which people need to be cautious.
Some big wallets hold a lot of tokens in MASK, due to which its price can be easily changed. Something similar happened with WIF earlier. Although PEPE is more secure, its size has become so large that the possibility of very rapid growth in it has reduced. On the other hand, MASK is small, so if people’s interest remains, it can grow very fast.
The success of WIF and the popularity of PEPE show that mimecoins can be very big. But MASK has to create its own identity. Investors should invest in it very carefully, because mimecoins are very volatile.
Conclusion
MASK is currently a new rising star in Solana’s mimecoin market. Its speed, low fees and social media buzz have given it a boost. However, it is yet to gain a solid identity for PEPE and a strong system for WIF.
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