Solana has been having an up-and-down Tuesday, with its market cap surpassing $70B this morning but since dropping back to $67B. However, the network’s native token is seeing green, up 10% in the past week. With SOL on a climb, the Solana network’s meme-coin industry is being pumped, including Dogwifhat (WIF) and BONK.
SOL’s impressive performance Tuesday saw Solana outperform industry giants like Bitcoin (BTC) and Ethereum (ETH). These two assets remain stuck in their price gyrations. With its market capitalization now totaling an impressive $80.7 billion, Solana’s surge is benefitting its entire network, including meme coins.
At press time, WIF is trading at $3.28%, up 27% in the past week and 6% in 24 hours. BONK is also up 13% on Tuesday in 24 hours, surging a monstrous 73%. As Solana holders are unstaking their tokens, it is generating hype around potential sales incoming, thus boosting the price of the entire network. Solana is currently trading around $157 per coin, and this translates to roughly $780 million worth of tokens re-entering the market
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As the entire cryptocurrency market looks to Bitcoin for optimism, the Solana meme coins look to SOL to determine whether their future is bullish or bearish. Since BONK and Dogwifhat are on the rise, new profits are imminent for holders.