{"id":28607,"date":"2025-05-26T12:46:37","date_gmt":"2025-05-26T12:46:37","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=28607"},"modified":"2025-05-26T12:46:37","modified_gmt":"2025-05-26T12:46:37","slug":"solana-following-bitcoin-network-activity-chart-pattern-point-to-300-sol-price","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=28607","title":{"rendered":"Solana following Bitcoin? Network activity, chart pattern point to $300 SOL price"},"content":{"rendered":"<div>\n<p style=\"float:right; margin:0 0 10px 15px; width:240px;\"><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDUvMDE5NzBjODgtYmNjYy03ODYyLTg3NWMtNjIyZDdiNGMxOGM3.jpg\"><\/p>\n<\/p>\n<p style=\"float:right; margin:0 0 10px 15px; width:240px;\"><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDUvMDE5NzBjODgtYmNjYy03ODYyLTg3NWMtNjIyZDdiNGMxOGM3.jpg\" alt=\"Solana following Bitcoin? Network activity, chart pattern point to $300 SOL price\"><\/p>\n<p><strong>Key takeaways:<\/strong><\/p>\n<ul>\n<li>\n<p>Solana&#8217;s $9.4 billion TVL is a 54% increase since April 7.<\/p>\n<\/li>\n<li>\n<p>Solana\u2019s memecoin daily trading volume has more than doubled since early April.\u00a0<\/p>\n<\/li>\n<li>\n<p>A bullish V-shaped recovery pattern projects SOL price to rise toward $300.<\/p>\n<\/li>\n<\/ul>\n<p>Solana\u2019s native token,\u00a0<a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/solana-price-index\" title=\"null\">SOL,<\/a>\u00a0surged 86% between April 7 and May 26, following the broader altcoin market rally that saw\u00a0<a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-new-all-time-high-traders-asking-is-btc-price-overheating\" title=\"null\">Bitcoin hit new all-time highs above $111,000<\/a>. <\/p>\n<p data-ct-non-breakable=\"undefined\">Since then, SOL has struggled to break above $180, but onchain and technical data still suggest further gains are in store for the altcoin. Can SOL follow in Bitcoin\u2019s footsteps and hit all-time highs above $300?<\/p>\n<h2>Solana\u2019s TVL up 54% since April 7<\/h2>\n<p>The <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/explained\/what-is-total-value-locked-tvl-in-crypto-and-why-does-it-matter\" title=\"null\">total value locked<\/a> (TVL) on the Solana blockchain has increased by over 54% to $9.44 billion on May 26 from multimonth lows of $6.12 billion reached on April 7. It\u2019s also up by almost 20% over the last 30 days.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-05\/01970c85-3fc1-7cc2-94bf-5095a31d5814\" title=\"\" alt=\"Solana following Bitcoin? Network activity, chart pattern point to $300 SOL price\"><figcaption style=\"text-align: center;\"><em>Solana TVL. Source: DefiLlama<\/em><\/figcaption><\/figure>\n<p>Data from DefiLlama <a data-ct-non-breakable=\"null\" href=\"https:\/\/defillama.com\/chain\/Solana?groupBy=weekly&amp;volume=true&amp;tvl=false\" title=\"null\">highlighted<\/a> that the subsequent increase in TVL was led by Raydium, with a whopping 52% increase in a month. Other major decentralized applications such as Jupiter DEX, Jito liquid staking, and Kamino Lending gained 12%, 25% and 11%, respectively.<\/p>\n<p>While Solana ranks the fifth-largest cryptocurrency by market capitalization, the Solana network is ahead of the other top layer-1 blockchains in terms of TVL, second only to Ethereum.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-05\/01970c85-4585-77b2-b6e3-5e79235002da\" title=\"\" alt=\"Solana following Bitcoin? Network activity, chart pattern point to $300 SOL price\"><figcaption style=\"text-align: center;\"><em>Blockchain ranked by TVL, USD. Source: DefiLlama<\/em><\/figcaption><\/figure>\n<p>However, Solana\u2019s $9.5 billion TVL surpasses that of the Ethereum <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/learn\/articles\/a-beginners-guide-to-understanding-the-layers-of-blockchain-technology\" title=\"null\">layer-2 ecosystem<\/a>, which includes Base, Arbitrum, and Optimism. It is also larger than BNB Chain\u2019s, which integrates seamlessly with Binance and Trust Wallet.<\/p>\n<h2>Solana memecoin market cap gains 65%<\/h2>\n<p>The rise in Solana\u2019s TVL mirrors an increase in memecoin market capitalization as prices recovered across the board.<\/p>\n<p>Most Solana-based memecoins have posted double-digit daily losses in the weekly and monthly timeframes, as shown in the figure below. A majority of these tokens are 50% to 80% from local lows.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-05\/01970c85-4a87-72e0-87a2-6de76688e081\" title=\"\" alt=\"Solana following Bitcoin? Network activity, chart pattern point to $300 SOL price\"><figcaption style=\"text-align: center;\"><em>Solana-based tokens performance. Source: <\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/www.coingecko.com\/en\/categories\/solana-meme-coins\" title=\"null\"><em>CoinGecko<\/em><\/a><\/figcaption><\/figure>\n<p>As a result, Solana&#8217;s collective memecoin market cap increased to $13.4 billion on May 26 from $8.1 billion on April 8, a 65% climb in less than two months.<\/p>\n<p><em><strong>Related: <\/strong><\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/solana-will-make-everyone-an-investor-or-a-dreamer-over-time-solana-exec\" title=\"https:\/\/cointelegraph.com\/news\/solana-will-make-everyone-an-investor-or-a-dreamer-over-time-solana-exec\"><em><strong>Solana \u2018will make everyone an investor\u2019 \u2014 Solana nCMO<\/strong><\/em><\/a><\/p>\n<p>This rise in the prices of Solana-based memecoins and market cap is preceded by increasing DEX activity on the layer-1 blockchain.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-05\/01970c85-4e3d-7d61-b4fe-7bd06afbac9a\" title=\"\" alt=\"Solana following Bitcoin? Network activity, chart pattern point to $300 SOL price\"><figcaption style=\"text-align: center;\"><em>Memecoin trading volume on Solana. Source: <\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/solana.blockworksresearch.com\/?dashboard=sol-dex\" title=\"null\"><em>Blockworks Research<\/em><\/a><\/figcaption><\/figure>\n<p>The increase in memecoin activity on Solana indicates high network activity and rising usage, positively impacting demand and SOL price.\u00a0<\/p>\n<h2>SOL\u2019s \u201cV\u201d chart pattern targets all-time highs<\/h2>\n<p>SOL\u2019s price action has been painting a V-shaped pattern on the weekly chart since January, as shown below.<\/p>\n<p>A V-shaped recovery is a bullish pattern formed when an asset experiences a sharp price increase after a steep decline. It is completed when the price moves up to the resistance at the top of the V formation, also known as the neckline.<\/p>\n<p>SOL appears to be on a similar trajectory and now trades below a supply-demand zone between $180 and $200. A breakout here will increase the chances of the price rising to the neckline at $252 to complete the V-shaped pattern. <\/p>\n<p>Beyond that, the next target would be the all-time high above $295, representing a 66% increase from the current price.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-05\/01970c85-52bb-7ab1-a7a8-056322388770\" title=\"\" alt=\"Solana following Bitcoin? Network activity, chart pattern point to $300 SOL price\"><figcaption style=\"text-align: center;\"><em>SOL\/USD daily chart. Source: Cointelegraph\/<\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/www.tradingview.com\/x\/esK0S1bT\/\" title=\"null\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The <a href=\"https:\/\/cointelegraph.com\/news\/here-s-3-ways-the-relative-strength-index-rsi-can-be-used-as-a-sell-signal\" rel=\"\" target=\"_self\" title=\"https:\/\/cointelegraph.com\/news\/here-s-3-ways-the-relative-strength-index-rsi-can-be-used-as-a-sell-signal\">relative strength index<\/a> has increased to 53 at the time of writing from 36 at the end of March, suggesting that bullish momentum is picking up.<\/p>\n<p>As Cointelegraph <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/solana-price-fractal-targets-rally-to-260-but-one-thing-must-happen-first-analysts\" title=\"null\">reported<\/a>, SOL price could rise by 45% with a decisive bullish breakout above $180 in the coming days.<\/p>\n<p class=\"post-content__disclaimer\" type=\"\">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\" data-ct-non-breakable=\"undefined\" label=\"Subscription Form: Markets Outlook\"><\/template>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Key takeaways: Solana&#8217;s $9.4 billion TVL is a 54% increase since April 7. Solana\u2019s memecoin daily trading volume has more than doubled since early April.\u00a0 A bullish V-shaped recovery pattern projects SOL price to rise toward $300. Solana\u2019s native token,\u00a0SOL,\u00a0surged 86% between April 7 and May 26, following the broader altcoin market rally that saw\u00a0Bitcoin [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-28607","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/28607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28607"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/28607\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}