Solana ecosystem tokens continue with impressive 2024 performances.
POPCAT, MUMU, WIF, MEW, and BOME lead the recent crypto market recovery.
Ecosystem tokens cumulatively boost SOL’s performance after a recent crash.
The Solana ecosystem is emerging as one of the positive narratives of the 2024 crypto market bull run. This trend has continued, fueled by the impressive performances of various Solana ecosystem tokens since the August 5 crypto market crash that saw the cryptocurrency market capitalization dip below $1.7 trillion for the first time since February.
Solana ecosystem tokens leading the recovery charge include POPCAT, MUMU, WIF, MEW, and BOME. Notably, POPCAT surged 140% in the past two days after dropping to $0.255 during the recent market downturn. The memecoin’s recovery continued in the past 24 hours with a 48% surge, trading for $0.59 at the time of writing, according to data from TradingView.
Like POPCAT, MUMU recovered excellently, making a 162% rally after the recent crash. The community-driven memecoin traded for $0.000072946 at the time of writing, rebounding from a $0.000059876 low recorded during the August 5 decline. Meanwhile, another Solana-based memecoin, WIF, surged 63% following the same recovery pattern.
MEW, the memecoin referred to as a cat in a dog’s world, surged 83% in the past two days to mark a remarkable recovery. The memecoin climbed to $0.0062474 in the early hours of Wednesday before pulling back slightly to trade for $0.0058419 at the time of writing. The fifth token in the group is BOME, which made a %44.41% recovery from the recent decline and traded for $0.0072 at writing time.
The cumulative impact of these Solana ecosystem tokens’ performances has reflected positively on Solana’s native cryptocurrency, SOL, which also recovered impressively after the August 5 market crash. TradingView’s data shows SOL has rallied 41% since dropping to $110 last Monday. The scalability-focused blockchain’s token is currently trading at $153.51, signaling residual upside momentum that could encourage further upward movement.
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