These metrics signal the rise of Solana.

The re-emergence of Solana-based memecoins and the dominance established by whales are important signals.

Solana, shown as Ethereum's biggest rival, hosted the memecoin craze last week. The transaction volume of memecoins on the Solana blockchain exceeded $ 1.6 billion. According to the data, the total market value of Solana memecoins reached $ 8.6 billion the previous week.

MOODENG, one of the newest players in Solana, attracted attention by increasing by over 400 percent in the last week. The memecoin craze increased Solana's transaction volume and total locked asset value.

AMBCrypto stated that it expects an increase due to the fact that whales own the vast majority of the SOL supply and the demand for memecoins.

It was reported that whales, who own 59 percent of the total SOL supply, could also trigger the rise. According to the data, wallets with assets over $ 5 million are leading the market.

Commenting on the dominance of whales over SOL, AMBCrypto said; “The high whale ratio shows that these players have an interest in pushing the price of $SOL above the resistance level. Whales are aware of the potential in SOL.”

According to CoinGecko data, the Solana price has increased by nearly 7 percent in the last seven days. Solana, which has the best performance among major altcoins, has shown short-term bullish momentum.

According to AMBCrypto’s analysis, more trading volume is needed for SOL to rise. The analysis stated that $141 to $154 is an important accumulation point.

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