Is $WAL token primarily a meme coin on Solana 👇

No, $WAL is not primarily a meme coin on Solana.
It functions as the utility and governance token for Walrus, a decentralized storage protocol built on the Sui blockchain, where WAL pays for data storage, rewards node operators, enables staking for security, and supports voting on protocol decisions.

Walrus leverages Sui’s high throughput design for scalable blob storage, with cross chain integrations that extend access to networks like Solana, but WAL remains natively tied to Sui’s ecosystem and tokenomics.
Market trackers and analyses consistently classify WAL under decentralized storage infrastructure rather than Solana’s meme coin category, emphasizing its deflationary mechanics like burning from staking penalties and slashing.

While the walrus mascot adds a playful, meme adjacent vibe that appeals to community traders, this branding supports rather than defines the token, which derives primary value from real world storage demand and network participation.
Listings on exchanges and investor backing from firms like a16z further position WAL as a serious DePIN project, not a speculative Solana meme play.

#Walrus @WalrusProtocol