The oldest memecoin in crypto just landed on the fastest chain. dogecoin:native holders can now hold and swap the token natively in Phantom, Solflare, and Backpack, which utilize Wormhole's Sunrise. No bridging required. ⬇️

What happened

Dogecoin, described as the oldest memecoin, is now available natively on Solana, a fast blockchain. Holders can use Phantom, Solflare, and Backpack wallets to hold and swap it, with Wormhole's Sunrise technology, and no bridging is needed.

Confirmed

Global impact / market context

This could increase Dogecoin's use because Solana is faster and cheaper than other networks. More trading may raise demand for Dogecoin and Solana’s token, potentially benefiting investors in both. It also makes owning Dogecoin easier for new users.

Analyst inference

Wormhole's Sunrise enables cross-chain movement, which means it lets assets work on different blockchains. This step could strengthen Solana’s position as a hub for popular tokens, possibly attracting more projects and users, and affect competition among blockchain networks.

Analyst inference

What to watch

1. Check that Dogecoin holders can now use Phantom, Solflare, and Backpack to hold and swap the token without bridging, as stated in the announcement. Confirmed
2. Watch whether Dogecoin trading volume on Solana increases, which might show if the new native access boosts usage and attracts more investors to the token. Proposed
3. See if other memecoins follow Dogecoin to Solana, which could increase network activity and potentially raise the value of Solana’s token. Analyst inference

Affected assets

• SOL — SOL

Evidence

• x.com