Solana Meme Coins Soar as Trump Coin, Bonk Rise. Could Solaxy Explode Next?
The Solana meme coin sector is experiencing a revival, with notable price rallies from both TRUMP and BONK, each gaining over 7% in the past 24 hours. As retail investors re-enter the market, several traders are keenly watching a burgeoning Layer-2 project called Solaxy. This project is projected to gain further traction once its presale concludes.
Meme Coin Momentum on Solana
The recent uptick in meme coin activity can be attributed to renewed enthusiasm from retail investors who are overcoming previous market uncertainties. A substantial number of Solana-based meme coins are showing gains, indicating a bullish trend. TRUMP has reached approximately $11.70, pushing its market capitalization past $2.3 billion. Meanwhile, BONK, recognized as the original meme coin on Solana, is trading around $0.000013, boasting an impressive trading volume of $230 million in just 24 hours.
WIF and FARTCOIN have also made significant strides, while PENGU stands out as the biggest gainer, with an increase of 10% from the previous day. The cumulative market cap for Solana meme coins has surged to $8.3 billion, with trading volumes escalating considerably. This resurgence isn’t confined to Solana; other meme coins like DOGE and PEPE are similarly benefiting from this bullish wave.
Market Dynamics: Bitcoin’s Recovery and Investor Sentiment
The broader cryptocurrency market is showing positive signs, fueling the momentum in meme coins. Bitcoin has notably bounced back above the $87,000 mark, a level unseen since early March. Ethereum has also crossed $2,000, and multiple altcoins, including XRP and SOL, are seeing healthy gains. The overall market sentiment appears optimistic, with the Crypto Fear & Greed Index nearing a move away from “Fear” territory.
Caution does loom, however, as traders remain skeptical ahead of the imminent Personal Consumption Expenditures (PCE) index release—an important inflation measure favored by the Federal Reserve. Additionally, upcoming U.S. tariffs slated for April 2 could impact the bullish trend. Despite high stablecoin reserves on Binance, which can be a positive indicator, there is an underlying belief that the current rally may be short-lived, and corrections could occur.
Solaxy: The New Contender in the Meme Coin Arena
Amidst this context, one project capturing attention is Solaxy, which has raised over $27 million in its presale. Distinct from typical meme coins, Solaxy is positioning itself as the first-ever Layer-2 solution for Solana, aiming to enhance its transaction capabilities and reduce costs associated with congestion. The SOLX token will power this ecosystem, facilitating transaction fees, staking, and governance.
As of now, early investor interest signifies strong confidence in Solaxy’s strategies and roadmap. With endorsements from popular crypto influencers, the project’s follower count has surged, reaching 73,500 on X (formerly Twitter) and over 10,000 on its Telegram channel. Should Solaxy deliver on its ambitious plans, it stands a good chance of riding the wave of the recent meme coin success alongside TRUMP and BONK.
The momentum in the Solana meme coin space, combined with Solaxy’s innovative approach, positions it favorably in the current market landscape, leaving many investors eager to see how high SOLX could soar as this dynamic unfolds.
