Only Possible on Solana ($OPOS), a new memecoin running on the Solana blockchain, has sparked a lot of frenzies among the Solana community. Just a few hours after its early phase launch, the token has quickly gained so much attention from the community and seen early success.
$OPOS Sees Early Success
Solana block explorer Solscan revealed that the first 1 million $OPOS were minted on September 28, approximately 15 hours ago, and quickly became the most searched token on Solscan. Within hours of launch, the memecoin garnered more than 2,300 holders, and its 24-hour volume surpassed 11.7 million.
After initial minting, the full $OPOS value was transferred to a separate address and used to conduct liquidity provider (LP) activities. As displayed by Solscan, 999,999.99 $OPOS, and 689,999.99 $USDC were added to the Orca LP. At the time of writing, Orca LP is the largest holder of $OPOS, accounting for more than 34.85% of the current supply.
Token Distribution
Including Orca LP, the top ten holders of $OPOS collectively hold 462,666.26 tokens, representing 46.27% of the supply. The other accounts hold 537,333.69 tokens (53.73%).
$OPOS’ early success can be attributed to several factors, including strong community support and its association with the Solana ecosystem. Solana is a high-performance blockchain platform known for its scalability, low transaction fees, and fast transaction speeds. Labeled the ‘Ethereum Killer,’ the blockchain is seen as the most serious challenger to the Ethereum blockchain.
The memecoin‘s early success could have also been boosted by the previous success of several other Solana-based memecoins, such as $BONK and $SAMO. Both tokens have seen their prices skyrocket in recent weeks and have helped attract much attention to the Solana ecosystem from memecoin enthusiasts.
While it is still early to say whether $OPOS will be able to maintain its current momentum in the long run, its early success suggests that it has the potential to compete in the Solana memecoin space.
