The Solana (SOL) price is up over 25% in the past month

The Solana price has risen by over 25% in the past month as the Solana ecosystem becomes a hotbed of meme coin activity. Crypto analysts are now predicting that SOL might double before June, as this speculative mania pushes the Solana meme coin market cap past $15 billion. Let’s find out more.

Solana price action: SOL soars 75% from the dip

Solana hit an all-time high of $294 in January, returning over 36x to patient investors who had been accumulating SOL during the bear market lows in the $8 region. This gigantic surge sparked a massive selloff, putting SOL on a protracted bearish run. For nearly five months, the SOL price had been crumbling, returning to test the lows around the $96 zone in an unforgiving marketwide correction.

However, investors have been rolling into SOL in droves lately, rotating the asset price back up to test resistance levels in the $160-$180 region. Currently, the SOL price is over 75% from the dip, having climbed over 25% in the past month alone as the meme coin speculation mania returns on Solana.

Solana meme coins hit $15 billion market cap

One of the top factors driving SOL’s impressive price action is the recent rise of Solana meme coins. Projects like BONK, Popcat, WIF, Peanut Squirrel, Ben Pasternak, and Grassito have clocked mammoth surges in the past month, notching up double to triple-digit gains from their recent lows.

This spike in speculative trading has seen the Solana meme coins market zoom from about $6 billion in April to over $15 billion in May, adding to the SOL’s bullish steam as Solana’s valuation surpasses $86 billion.

Investor sentiment in the SOL community is also being lifted by the euphoria surrounding spot Solana ETFs, which Bloomberg Intelligence analysts have assigned a 90% chance of approval this year. If Solana ETFs come with staking, market analysts anticipate over $6 billion in potential inflows during the first year!

Solana price prediction: Can SOL double before June?

Though the Solana price is expected to slow down as it battles resistance zones below $180, it might rocket upwards to blow past its ATH and scale new heights if it manages to overcome this psychological barrier.

Overall, SOL is predicted to continue posting bullish price action for the rest of the year. According to CoinCodex data, Solana might pull a nearly 100% upsurge, doubling in price to reach a new ATH in the $330 zone.

Solana whales are also exploring new altcoins

While SOL is anticipated to return 2x in the coming months, savvy Solana investors are not putting all their eggs in one basket. In the past months, SOL whales seeking more exciting gains have been secretly accumulating Remittix(RTX), a new PayFi token tipped to disrupt the $190 trillion cross-border payments market.

The Ethereum-based crypto-to-fiat payment network connects cryptocurrencies to local payment apps worldwide, offering a seamless, faster, and cheaper crypto-powered cross-border remittances solution to the average consumer.

Investors have already stockpiled over 535 million RTX tokens, pouring close to $15 million into the Remittix presale. Tokens are selling out like hotcakes at the $0.0757 floor price, and investors are advised to load up on this low-cap crypto gem before the price jumps to $0.0781 in the next presale phase.

Discover the future of PayFi with Remittix by visiting their presale here:

Website: https://remittix.io/ Socials: https://linktr.ee/remittix