- Solana breaks the $150 resistance, marking a significant market milestone with a 2% surge in 24 hours.
- SOL’s market capitalization reaches $68 billion, driven by a 606% surge over the past year.
- Concerns arise over meme coin ventures on Solana as a dozen projects shut down within a month, resulting in a $26.7 million loss for investors.
Solana (SOL) has recently experienced a notable surge, surpassing the $150 resistance level, marking a significant milestone in its market performance. With a price of $153, SOL has demonstrated a positive trend, climbing by over 2% within the last 24 hours.
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The cryptocurrency’s market capitalization now stands at $68 billion, indicating a growth of 2.60%. This upward trajectory is accompanied by a substantial increase in trading volume, which has risen to $2.83 billion over the previous day, reflecting growing investor interest and confidence in Solana’s potential.
Over the past week, SOL has seen a 4% increase and an impressive 606% surge over the past year, illustrating a strong upward trend. Despite some fluctuations between $130 and $157, SOL’s overall growth pattern remains predominant.
Analysts predict that if SOL continues its current momentum and breaches the $180 resistance level, it could signal a bullish revival, potentially propelling the digital currency toward the $190 mark and laying the groundwork for a climb to $200 in the near future. However, a reversal in trend could see SOL retract to the $150 support level, with further downward pressure potentially pushing it to $130, indicating a bearish market phase.
However, amidst SOL’s positive performance, concerns have been raised regarding the ecosystem’s meme coin ventures. A dozen meme coin projects launched on Solana have shut down within a month of their inception. This has resulted in a collective loss of 180,650 SOL, equivalent to approximately $26.7 million for investors.
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