Continuing its impressive momentum, Solana’s popularity has soared to new heights. According to the latest data from Google Trends, the search popularity of the word Solana has hit 100, signifying the highest level of interest for this specific search term. Not only that, SOL’s ascent to the top of the popularity index has set a new precedent in the blockchain’s 5-year history. So far, the layer-1 network recorded the second-highest search popularity of 84 in early September 2021.
This came as the price broke past the $200 level. In an arena frequently dominated by meme coins, SOL’s entry has boosted the altcoin troupe. Since hitting bottom in Dec. 2022, the token’s value has been soaring and has risen nearly twenty times from its lowest low, per market analyst Negentropic.
Based on Fib levels, a technical indicator that identifies potential areas of support and resistance in a price trend, Negentropic suggests a sustained upward movement in the price action. The Fib levels mentioned here are price targets 268, 427, and 686.
Solana recently flipped BNB to become the 4th largest cryptocurrency in the world by market value. What makes this revelation even more intriguing is how SOL outpaced its cryptocurrency counterparts. Solana’s activity, specifically non-voting user transactions, surpassed that of Ethereum, Arbitrum, Optimism, BNB Chain, Tron, and Avalanche collectively.
This remarkable milestone highlights Solana’s growing prominence and widespread adoption in the blockchain space. Recent data from The Block’s dashboard also highlighted the record-high surge in the wallet address.
Solana’s Meme Coin Sensation
Meanwhile, Solana’s newest memecoin star, Dogwifhat [WIF], made a grand appearance on the famous Vegas Sphere after successfully raising $681k in just three days. WIF’s price and market cap have grown at an exponential rate, with more investors and traders betting on the token’s popularity. The price reached an all-time high, making it the largest meme coin on the Solana blockchain.
WIF’s rapid ascent has sparked conversations about its evolving beyond the realm of meme-based cryptocurrency and transitioning into a more serious contender in the world of alternative digital assets, or altcoins. The frenzy has reached fever heights particularly with the latest update revealing that the original photo of Dogwifhat, featuring Achi the dog, sold for 1,210 ETH [$4.3 million+].