Solana-based meme coins, such as Popcat (POPCAT) and dogwifhat (WIF), are experiencing significant price surges, despite the current bearish sentiment in crypto markets.

Why Are Solana Meme Coins Rising?

In the past 24 hours, Popcat and WIF have surged by 6.9% and 5.2%, respectively. This rally occurred while major cryptocurrencies like Bitcoin and Ethereum fell by 2.45% and 2.3%. The main drivers of these meme coins' growth are their bullish price action patterns and positive on-chain metrics.

POPCAT Technical Analysis and Forecast

According to expert technical analysis, POPCAT appears poised for a major rally in the coming days. After breaking out of its consolidation zone and retesting the resistance level, the coin is forming a bullish engulfing candle, indicating a potential price increase. POPCAT's open interest has also risen by 4.9% in the past 24 hours and 6.25% in the past four hours, highlighting growing trader interest.

WIF Technical Analysis and Forecast

Expert analysis indicates WIF has successfully retested its breakout level of $2.30, suggesting a bullish outlook. If WIF closes its daily candle above the $2.43 level, it may potentially rise by 20% to reach $2.95. Open interest for WIF has increased by 8.35% in the past 24 hours and 7.92% in the past four hours, suggesting bulls are focusing on long positions.

While the market continues to exhibit bearish sentiment, Solana-based meme coins like Popcat and dogwifhat are showing positive growth. Their success is attributed to bullish price patterns and rising open positions, indicating increasing trader interest.