SEI, Solana (SOL), and Dogecoin (DOGE) Show Renewed Strength

The crypto market is back in full swing, with total capitalization climbing above $3 trillion as Bitcoin pushes past $103,000 and Ethereum stabilizes near $2,300.

The crypto market is back in full swing, with total capitalization climbing above $3 trillion as Bitcoin pushes past $103,000 and Ethereum stabilizes near $2,300. In this revived environment, three altcoins—SEI, Solana (SOL), and Dogecoin (DOGE)—are showing renewed strength, each backed by distinct narratives that reflect the market’s risk-on pivot.

SEI price has steadily climbed to around $0.25, fueled by rising ecosystem TVL and growing investor interest in its EVM upgrade roadmap. The network’s pivot toward Ethereum compatibility marks a significant step in its bid to attract developers and capital away from Cosmos.

Solana, meanwhile, has bounced back from April’s dip, trading near $172. Moreover, the frenzy surrounding Solana memecoins might be responsible for SOL price rally. Platforms like Pump.fun have turbocharged this mania, spawning dozens of low-cap tokens and some clocking triple-digit gains within hours. The surge in on-chain activity has translated into rising demand for SOL, making it one of the best-performing large-caps in recent weeks.

Dogecoin remains the wild card. Despite lacking any fundamental development, DOGE has held firm above $0.20, boosted by whale accumulation and anticipation of another Elon Musk headline. Traders see signs of a breakout brewing, especially if the meme token rotates into favor during the next wave of retail speculation.

SEI’s DeFi Surge and Strategic Pivot Boost Bullish OutlookSEI continues to build momentum, with its total value locked (TVL) hitting a new all-time high of $500 million. This marks a significant milestone in its DeFi expansion. The bullish sentiment is further supported by the upcoming GIGA upgrade, which promises up to 50x EVM throughput, aiming for 115,000 transactions per second with sub-second finality.

Furthermore, SEI is shifting from the Cosmos framework to full Ethereum compatibility. This move is intended to foster greater developer adoption and ecosystem interoperability. Meanwhile, institutional interest is escalating, highlighted by Canary Capital’s recent filing for a staked SEI ETF. If these structural upgrades and capital inflows continue, SEI might position itself as a serious contender in the Layer-1 race.

SEI price is currently trading at around $0.25 after reclaiming the 0.5 Fibonacci retracement level. The token has managed to rally over 80% since hitting a low point of $0.14 in early April. The token’s recovery has seen momentum shift decisively in favor of the bulls.

The immediate resistance is at $0.27, which is close to the 0.618 Fib zone. A successful breakout could open the path toward the next resistance around the 0.786 Fibonacci level. Flipping this zone would expose the breakout target, which is located close to the previous swing high.

On the downside, support is building around the $0.21 level, which coincides with the 0.382 Fib retracement. A deeper pullback could retest the support near $0.18—an area that held firm through multiple retests during SEI’s early Q2 consolidation.

The daily RSI is currently above 70, suggesting that SEI is in overbought territory. However, sustained strength above the mid-range Fibonacci levels could invalidate the overbought risk and reinforce the bullish continuation.

With the EVM migration, GIGA upgrade, and ETF narrative in play, SEI is entering a high-stakes zone, with the next few sessions being crucial.Solana's Memecoins Drive Network Activity Surges as Capital Flows InSolana has rallied to nearly $172 as capital continues rotating into its memecoin ecosystem. As of May 9, the total market cap of Solana-based memecoins surpassed $12 billion, fueled by triple-digit gains in tokens like MOODENG (up 212% in 7 days), PNUT (up 110%), and BONK (up 27%).

Trading volumes in this segment have also surged, with several tokens posting over $800 million in 24-hour activity. Platforms like Pump.fun have accelerated token launches and liquidity injections, attracting interest in retail traders and sparking short-term demand. This resurgence in on-chain activity has translated into rising demand for SOL, making it one of the best-performing large-caps this month.

The network's throughput and low fees continue to position it as the go-to hub for memecoin speculation, particularly with this wave of tokens featuring liquidity mining incentives and community-driven hype.

The SOL/USD pair has surged nearly 85% from its 2025 low near $95, reaching a daily high near $175 on May 10. The Solana token price is