Solana's price has rebounded to 125 USD, marking a 30% increase from its lowest point this year. The recovery is linked to the recent success of meme coins within the Solana ecosystem.
Solana's Price Recovery
After hitting a 13-month low, Solana's price rose to 125 USD, boosting its market capitalization to over 64 billion USD. This recovery has also been influenced by a general market rebound.
Performance of Meme Coins
Several meme coins in the Solana ecosystem have shown impressive performance: Fartcoin's price surged by over 81% in the past week, and Popcat increased by 57%. The overall market cap of all Solana meme coins exceeded 7.02 billion USD.
Technical Analysis
Technical indicators suggest a potential price increase for SOL, as it has formed a falling wedge pattern, historically a bullish sign. Support at the $110 level is crucial, and falling below it could invalidate the bullish outlook.
The recovery of Solana amid rising meme coins reflects active interest in the platform, suggesting potential for further growth.