On September 26, 2024, Solana-based meme coins got substantial attention from the crypto neighborhood following their excellent efficiency.
Solana Meme Coins Outperform Bitcoin and Ethereum
According to CoinMarketCap information, SOL-based meme coins such as Dogwifhat (WIF), Bonk (BONK), Popcat (POPCAT), and Cat in a Dogs World (MEW) have rose by 6%, 5.5%, 12%, and 15.5%, respectively, over the last 24 hours.
However, this substantial cost rise tookplace throughout a duration when significant cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and others were havingahardtime to gain momentum. It will be more fascinating to see whether Solana (SOL) follows the verysame rally.
SOL Current Price Momentum
At press time, SOL is trading near $150 and has skilled a cost rise of over 2% in the past 24 hours. During the exactsame duration, its trading volume leapt by 9%, showing growing involvement from traders and financiers. However, SOL’s rally hasactually been good, neighborhood expectations are increasing that it might follow the exactsame strong efficiency as its associated meme coins.
Solana Technical Analysis and Upcoming Levels
According to CoinPedia’s technical analysis, SOL appears bullish as it trades above the 200 Exponential Moving Average (EMA) on a day-to-day time frame, suggesting an uptrend. Additionally, its current combination breakout has moved the market belief.
Based on historic rate momentum, if SOL breaches its previous day’s high of $154, there is a strong possibility that it c