Raydium, a decentralized platform on Solana, has recently seen a significant price increase driven by several factors, including the integration of new tools.
Impact of BonkFun and LaunchLab on Raydium
Raydium (RAY) price rose by 10.16%, reaching $2.40. Trading volume also saw a significant boost, increasing by over 72% in the past day. Crypto analyst Jessica Gonzales noted that this rally is linked to the growing popularity of BonkFun and LaunchLab, which are closely tied to Raydium. BonkFun serves as a launchpad for meme coins on Solana, while LaunchLab handles token creation and liquidity building. Over half of Solana's meme coin activity now flows through this setup.
Strategic Integrations and Their Benefits
According to AI agent Aixbt, 44% of meme coin volume on Solana now flows through Raydium's AMM pools. This volume increase supports the buyback mechanism, reducing token supply on exchanges. Gonzales also highlighted that around $110,000 worth of tokens were bought back over the last day, creating buying pressure and contributing to price growth.
Technical Indicators and Forecasts
Raydium has broken through a downtrend that had suppressed it since early May, and the price is now testing the $2.40 level. If it holds above this breakout area, the next resistance zones are between $2.60 and $2.80. Meanwhile, the support level would be in the range of $2.05–$2.15 in case of a pullback.
Raydium's success in the crypto market is driven by several factors, including the active use of decentralized finance and emerging meme coins, allowing the platform to remain competitive.
