Solana’s meme coin sector is back in the green.
Both TRUMP and BONK have rallied, up over 7% each in the past 24 hours.
However, some traders are keeping a keen eye on Solaxy, believing that this new Layer-2 project could potentially see even higher gains once its presale phase concludes.
TRUMP, BONK, and Others Rally as Solana Meme Coin Space Heats Up
So, what’s driving this sudden momentum in the Solana meme coin market?
It appears that retail investors are shaking off recent uncertainties and are once again diving into this lively segment of the market.
Almost every Solana-based meme coin is currently in the green, indicating that the bulls are back in control.
The gains are nothing short of impressive. TRUMP has surged to around $11.70, pushing its market cap past $2.3 billion.
BONK, the original Solana meme coin, is trading at approximately $0.000013, with a remarkable $230 million in trading volume recorded since just yesterday.
WIF and FARTCOIN have also reported solid returns, but the standout performer has been PENGU, which is up 10% compared to its price yesterday.
These price increases have propelled the total Solana meme coin market cap to $8.3 billion, with trading volumes also experiencing rapid growth.
Interestingly, even outside the Solana ecosystem, meme coins such as DOGE and PEPE are rallying, further confirming that retail traders are re-entering the market.
Why Are Meme Coins Rallying? Bitcoin’s Recovery and Market Optimism
But what’s driving the resurgence of Solana meme coins – and meme coins in general? It seems they are taking cues from the broader cryptocurrency market, which has rallied after a phase of consolidation.
Bitcoin has rebounded above $87,000, a level it has not reached since March 7. Ethereum is now trading above $2,000, and other major altcoins like XRP and SOL have shown strong gains.
The overall market is radiating positivity, with the Crypto Fear & Greed Index teetering on the edge of escaping the “Fear” territory.
Investors are regaining their optimism.
Nevertheless, even as Bitcoin heads toward the end of Q1 on a positive note, some traders remain cautious. The release of the Personal Consumption Expenditures (PCE) index later this week introduces some uncertainty, given that it’s the Fed’s preferred inflation gauge.
Additionally, new U.S. tariffs set to take effect on April 2 could complicate matters.
While stablecoin reserves on Binance are high – typically an encouraging sign – there’s a sentiment that today’s rally could be fleeting, with the possibility of another pullback looming.
Solaxy Presale Raises Over $27M – Will SOLX Benefit from Solana Meme Coin Rally?
Amid this evolving landscape, the question arises: where should investors look for the next big opportunity?
Presale projects come with a high-risk, high-reward proposition, and one that’s currently generating significant buzz is Solaxy.
This project promises much more than just another meme coin.
Solaxy seeks to be the first Layer-2 solution built on top of Solana, designed to enhance its speed, cost-effectiveness, and capacity to manage a high volume of transactions without congestion.
The SOLX token powers this Layer-2 ecosystem, being utilized for transaction fees, staking, and project governance.
As of this writing, Solaxy’s presale has raised over $27.7 million, an indication of the confidence early investors have in Solaxy’s team and roadmap.
Even popular YouTubers like Cilinix Crypto have offered praise for Solaxy.
This momentum has propelled Solaxy’s following to 73,500 on X (Twitter) and 10,100 members in its Telegram channel.
With the Solana meme coin ecosystem on the rise, a project like Solaxy, which aims to improve the underlying infrastructure, is well-positioned to capitalize on this trend.
If Solaxy’s team can deliver on their promises, there’s a strong likelihood that the SOLX token could see explosive growth similar to TRUMP and BONK.
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