Dogecoin Launches on Solana Blockchain Amid 34.21% Monthly Gain

Generated by AI AgentCoin World
Friday, May 23, 2025 11:17 am ET1min read
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Dogecoin, the popular memecoin, is set to launch on the Solana blockchain, a move that could potentially draw fresh users and boost its trading activity. This integration is facilitated through Wormhole’s interoperability technology, including the Native Token Transfers (NTT) framework and zero-knowledge proofs (ZKPs). The decision to expand DOGE to Solana is driven by strong retail demand, which has been a significant factor in accelerating this integration.

DOGE is entering a network where other memecoins like Fartcoin, Pudgy Penguins, and dogwifhat have seen substantial gains over the last 90 days. This move could bring DOGE access to deeper liquidity from the Solana ecosystem, potentially helping its total value locked (TVL) reclaim its all-time high or even surpass it. Historically, rising TVL has supported price appreciation and market cap growth by drawing in liquidity providers.

Over the past month, Dogecoin has maintained a bullish threshold, gaining 34.21%. This trend was mirrored over the last 24 hours with a modest 3.24% increase. The memecoin is currently on the move, with roughly 30% of the rally in progress. If similar price action unfolds, DOGE could trend back to the $0.669 level. Ecosystem shifts like this integration with Solana could play a key role in accelerating Dogecoin’s upward trend.

DOGE’s total value locked (TVL) currently sits at $4.66 million, a relatively low figure. However, expanding DOGE to Solana, combined with ongoing ecosystem growth, could help its TVL reclaim the $9.22 million all-time high. This move could also increase the odds of stronger price performance for DOGE, as liquidity inflows may climb with the cross-chain expansion.

Looking at the 1-week chart, DOGE has respected a rising support trendline, which previously sparked a 404% rally. If similar price action unfolds now, the memecoin could trend back to the $0.669 level. This integration with Solana could be a significant catalyst for DOGE’s price performance, potentially drawing in more users and liquidity providers to the memecoin ecosystem.