Solana Surges 20% as Meme Coins Drive Trading Volumes

Solana (SOL) has shown remarkable performance in the past week, outperforming its peers in the top 5. This surge is attributed to the rising popularity of meme coins like Fartcoin (FART) and Popcat (POPCAT), which have attracted significant trading volumes to Solana’s decentralized exchanges. These meme coins have managed to deliver double-digit and even triple-digit returns in a short period, defying the market’s downturn.

Decentralized exchanges (DEXs) such as Orca and Raydium have seen a surge in trading activity. This increase is partly due to the decision by President Donald Trump to pause the implementation of tariffs, which has eased market volatility and lured traders back into the market. This temporary tailwind has managed to propel the price of Solana above the $140 level briefly.

According to the popular crypto trader Ali Martinez, the most important support for Solana (SOL) is at $129, while the key resistance to watch sits at $144. A break below the $129 marker could result in a trend reversal for SOL in the near term. Conversely, a push above the $144 level will likely result in an explosive move for the cryptocurrency.

Solana has broken out of a falling wedge pattern on the 12-hour chart, a classic bullish reversal setup. This suggests that a strong upside move may be underway. The breakout follows a sustained period of higher lows and tightening price action, with SOL now trading near $139.50 after reclaiming key territory. Momentum indicators support the bullish thesis, with the RSI holding at 61.9 and trending higher, while the MACD histogram continues to print green, indicating growing strength behind the move.

If SOL maintains this momentum, the next key resistance sits around $150. A clean break above this level could open the door to a swift rally toward $175 and beyond. As Solana’s price structure turns bullish, its ecosystem continues to heat up, with meme coins like Fartcoin (FART) drawing fresh attention and surging trading volumes.

To tackle the congestion issues Solana has faced in the past, a new layer-two scaling solution called Solaxy (SOLX) is preparing for launch. Solaxy (SOLX) will be a key piece of the puzzle to help decentralized apps thrive in the Solana blockchain. This side chain will bundle transactions offline to alleviate the mainnet’s burden and increase its efficiency. The developing team has already shared exciting updates about the project, collaborating with top blockchain firms like Sovereign Labs and Hyperlane to test the L2 in the Solana devnet and have had satisfactory results.

Solaxy (SOLX) will experience high demand once top wallets and exchanges embrace it. Apart from its upside potential, $SOLX offers attractive staking rewards of 130%. To buy $SOLX, users can head to the Solaxy website and connect their wallet. They can join the presale by swapping USDT, SOL, or ETH for the token or simply use a bank card to make their purchase.