- SOL jumped to a brand new all-time excessive at $263.7 and is headed larger.
- The Solana meme coin hype can be the rationale for the cryptocurrency's uptrend.
- Solana's greatest meme coin, BONK, is up greater than 50% within the final week.
Solana (SOL), the fourth-largest cryptocurrency by market capitalization, hit a brand new all-time excessive of $263.70 immediately, outperforming most different digital property since November 2023. SOL's rise in worth is basically attributed to rising demand for meme cash on its blockchain and rising expectations surrounding the potential approval of the Solana spot exchange-traded fund (ETF).
Information from CoinMarketCap reveals that the value of SOL rose by 11.19% within the final 24 hours and is now monitoring the $300 degree within the quick time period. If the present market momentum continues, analysts consider that SOL may goal $500 throughout this bullish cycle that ought to final till 2025.
SOL has additionally gained 25.65% over the previous week and 58.95% over the previous 30 days. Since November 2023, its worth has skyrocketed by 383.36%, fueled by the rising significance of Pump.enjoyable, the highest meme coin generator on the Solana blockchain.
Meme Cash Fueling Solana's Momentum
Solana-based meme cash have whatβ¦
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