This week, Solana hit a 22-month peak at $136, riding high on Bitcoin’s surge to $64,000, which injected fresh energy into the entire crypto market. With an impressive 11% leap in the last 24 hours alone, Solana now stands at its loftiest point since April 2022, marking a remarkable 33% spike just within the past week.
While Bitcoin continues to hold its sway as the leading crypto, it’s experienced a slight dip in the past day, though it’s still up by a solid 19% over the week. Ethereum, on the other hand, is hovering around $3,450 after enjoying a 16% gain for the week.
Dogecoin emerges as the star among the top 10 cryptocurrencies by market capitalization, soaring by a whopping 53% to nearly $0.13 this week. The meme coin fever extends into the Solana ecosystem as well, with Solana-powered meme coin Bonk (BONK) more than doubling in value over the past week, hitting $0.000025. Another dog-themed memecoin, Dogwifhat (WIF), also saw significant traction, skyrocketing by 198% this week to reach $0.9.
While Bitcoin’s movements continue to cast a shadow over the market, Solana itself has been on a remarkable growth trajectory, sparking renewed optimism in recent months. After dipping to nearly $8 in December 2022 following the FTX collapse, Solana has staged a remarkable comeback, boasting over 500% growth in the past year alone.
