Solana Surges Past $150 as Meme Coins and Stablecoins Thrive
Solana (SOL) has regained strength, crossing the crucial $150 mark. The price hike is linked to the surge in meme coins within its network. SOL reached $153,marking its highest as March 3. This impressive climb is 60% above its year’s lowest point. The coin’s market cap now stands near $80 billion.
Investor interest in Solana’s meme coins has fueled this growth. These digital assets have seen their combined market value hit $10 billion, up from $6 billion earlier this month. Notable gains include Official Trump (TRUMP),Bonk (BONK),Dogwifhat (WIF),and Pudgy Penguins (PENGU),all soaring over 60% in a week. Three of these coins—TRUMP, Bonk, and Fartcoin—now hold over $1 billion each. the excitement around these tokens has driven Solana’s ecosystem. The stablecoin market cap within Solana has also hit a new peak at $13.1 billion. The network’s active addresses have climbed to 3.1 million.
These meme coins, inspired by Fartcoin, have seen massive gains.Fartcoin itself has seen a 500% rise from its monthly low. The surge comes after former President Trump’s dinner with top investors of his TRUMP token. this event sparked a wave of enthusiasm.
Decentralized exchanges (DEXs) like Raydium and Orca have processed over $17 billion in trading volume in a week. The stablecoin market cap within Solana has reached an all-time high. The network’s stablecoins are now worth $13.1 billion. The rise in meme coins has boosted decentralized exchanges (DEXs). Raydium and orca have seen a surge in activity. The network’s stablecoins have also seen a boost. The stablecoin market cap has surged, reflecting growing confidence in the platform. The network’s stablecoins are now worth $13.1 billion. This growth shows the platform’s expanding influence.
Technical analysis shows a bullish trend. The SOL price chart reveals a strong upward move. The price broke past the $121.17 resistance. The Relative Strength Index and MACD indicators point to a continued uptrend.Analysts see the price heading towards $200,a 32% jump from current levels.
Key factors include:
- Increased trading on DEXs
- Stablecoins’ market cap growth
- Active addresses on Solana have spiked to 3.1 million.
Raydium and orca have handled $17 billion in trades. The SOL price chart shows a bullish pattern. The coin formed an inverse head-and-shoulders pattern, a sign of more gains. The price is above the 50-day moving average. The Relative Strength Index and MACD suggest more gains. The 23.6% Fibonacci Retracement level supports this bullish outlook. The price is above the 50-day moving average. the Relative Strength Index and MACD indicators signal more gains. the 23.6% Fibonacci Retracement level supports this bullish trend.
Raydium and Orca have seen a $17 billion trade volume. The SOL price chart shows a positive shift. The coin is above the 50-day moving average. This bullish signal hints at a possible $200 target.The SOL price chart shows a strong upward trend.The coin could hit $200, a 32% rise from current levels.
raydium and orca have seen a $17 billion volume. The SOL price chart shows a strong upward move. The coin could reach $200,a 32% rise from today’s levels.
Raydium and Orca have seen a $17 billion trade volume. The SOL price chart shows a strong upward move. The coin could hit $200, a 32% rise from current levels.
