Solana

Memecoin

USDC

dogwifhat

<p>The post <a href="https://coinpedia.org/news/solana-sol-price-saw-a-double-digit-gains-update-on-memecoin/">Solana (SOL) Price Saw A Double-Digit Gains, Update On Memecoin</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Solana’s price has jumped significantly overnight, driven by a surge in meme coins on its blockchain. Right now, Solana’s token, SOL, is trading at $153.50, reflecting an 11.8% increase for the day. Despite this rise, it remains over 16% below its value from last week due to <a href="https://coinpedia.org/news/japan-stock-market-correction-trigger-crypto-market-crash-bitcoin-ethereum-bleeding/">Monday’s crypto market crash.</a></p> 
<h2 class="wp-block-heading" id="h-double-digit-gains-for-solana">Double-Digit Gains for Solana</h2> 
<p>The recent price increase for Solana is linked to news that crypto bank <a href="https://www.anchorage.com/insights/anchorage-digital-bank-expands-custody-support-spl-tokens-on-solana#:~:text=Anchorage%20Digital%20Bank%20has%20supported,networks%20like%20Solana%20is%20essential.">Anchorage plans to support SOL-based</a> tokens using the Solana Program Library (SPL) standard. This support includes well-known tokens like the USDC stablecoin, Helium (HNT), Wormhole (W), Pyth (PYTH), and Metaplex (MPLX).</p> 
<p>Solana’s blockchain has seen a notable increase in activity, with over 5 million transactions as users rushed to acquire Ore. Ore is a new cryptocurrency designed to mimic Bitcoin’s mining algorithm but operates on Solana’s platform. Unlike traditional mining, Ore provides personalized challenges for miners, ensuring rewards for solving these puzzles.</p> 
<h2 class="wp-block-heading" id="h-meme-coins-drive-market-recovery">Meme Coins Drive Market Recovery</h2> 
<p>Meme coins on Solana have <a href="https://coinpedia.org/crypto-live-news/solana-based-memecoins-surge-over-30-as-sol-recovers/">surged by over 30% i</a>n the last 24 hours, contributing to the broader crypto market recovery. Tokens like the cat-themed popcat (POPCAT) and the dog token dogwifhat (WIF) rose by up to 25% before slightly retreating. Smaller tokens such as MUMU and catdog (CATDOG) also saw increases of around 30%.</p> 
<p>Overall, <a href="https://markets.coinpedia.org/solana/">SOL has experienced a 40% rally </a>from its low of $110 on August 5. After testing the $140 level, SOL has climbed 12% in the past day and is now trading at $154, with a market cap of $71.8 billion. This impressive recovery reflects renewed investor interest in the token.</p> 
<p><strong>As the crypto market heats up, Solana’s performance is one to watch.</strong></p>

Solana (SOL) Price Saw A Double-Digit Gains, Update On Memecoin

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