Solana

Uniswap

DeFi

Bonk

<p><a href="https://www.cryptopolitan.com/solana-memecoin-trader-misses-out/" rel="noopener noreferrer nofollow">Solana</a> (SOL) witnessed a significant surge in its price, climbing by nearly 24% amidst the recent excitement surrounding meme coins. Trading at $180.72, SOL’s increase in value can be attributed to the explosive rise of meme coin enthusiasm, particularly fueled by Dogewhatif (WIF).&nbsp;</p>
<p>WIF’s astonishing fundraising success of $700,000, surpassing its initial goal by a wide margin, propelled a 25% surge in price, boasting a staggering $3 billion market cap. This fervor directly influenced SOL’s impressive price hike, reflecting the underlying strength of Solana’s network.</p>
<h2 class="wp-block-heading" id="record-total-value-locked-tvl-demonstrates-solana-s-robustness">Record total-value-locked (TVL) demonstrates Solana’s robustness</h2>
<p>The surge in SOL’s activity isn’t solely about memes; it mirrors the network’s robustness, evidenced by a record total-value-locked (TVL) of 23.07 million SOL, the highest since December 2022. Solana’s distinguishing features, such as lightning-fast transactions and minimal fees, have positioned it as a hotbed for meme coin mania. WIF’s connection to Solana’s infrastructure has amplified its appeal, potentially transitioning it beyond meme status into decentralized finance (DeFi).</p>
<p>Jupiter, a prominent DeFi project within the Solana ecosystem, has showcased impressive performance by surpassing Uniswap V3 in data processing volume. Experiencing a remarkable 67% increase since March 6, Jupiter’s resilience shines through, particularly with the introduction of its Value-Average (Beta) feature. The surge in <a href="https://www.cryptopolitan.com/interplay-meme-coins-and-native-networks/" rel="noopener noreferrer nofollow">meme coins</a> like Bonk (BONK) and Dogwifhat (WIF), alongside Jupiter’s achievements, highlights the expanding allure of Solana’s ecosystem.</p>
<h2 class="wp-block-heading" id="solana-s-outlook-and-technical-analysis">Solana’s outlook and technical analysis</h2>
<p>As of the latest analysis, Solana (SOL/USD) is experiencing a slight retreat, trading at $181.57, down by 1.27%. The pivot point for SOL is $181.57, which could act as a decisive level for future price movements. Immediate resistance levels are observed at $188.69, $201.35, and $214.81, potentially impeding upward progress.&nbsp;</p>
<p>Conversely, immediate support is $170.07, with deeper safety nets at $158.56 and $149.35, providing crucial zones to cushion any potential declines. The Relative Strength Index (RSI) stands at 66.96, hovering near overbought territory, signaling a possible consolidation or reversal if traders perceive SOL as overvalued at current levels.</p>

Solana experiences surge amid meme coin excitement

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