Solana Meme Coins Are on the Rise in the Crypto Market: What's Happening?

Despite the general decline in the crypto market, meme coins based on Solana are showing remarkable performance. Especially as major cryptocurrencies lose value, Solana's Popcat (POPCAT) and dogwifhat (WIF) coins are experiencing strong price increases. In the last 24 hours, Popcat has risen by 6.9% and WIF by 5.2%, attracting investors' attention. This situation raises the question of why Solana-based meme coins are so popular despite the overall negative sentiment in the market.

Why Are Solana Meme Coins Rising?

As we have reported at Kriptokoin.com, in recent times, major cryptocurrencies such as Bitcoin and Ethereum have entered a downward trend. However, Solana-based meme coins have managed to defy this trend. One of the most important reasons behind this rise is the strong on-chain metrics of Popcat and WIF. In particular, the positive technical signals of these coins increase the interest of investors.

Furthermore, the breaking of the major resistance levels of these meme coins has been an important factor supporting the rise. Additionally, the movement of whales in these coins and the increase in open positions further strengthened the upward trend of Solana meme coins. Investors are fueling the bullish market expectation by taking long positions in these coins. As a result, these coins are successfully diverging from other major cryptocurrencies in the market.

POPCAT Technical Analysis and Expected Levels

Another important point is the strong price movement of POPCAT based on Solana in recent times. Popcat managed to break out of the consolidation zone and surpass an important resistance level. This breakout caused the price to rise rapidly and increased confidence among investors. So much so that experts expect POPCAT to rise even further in the coming days.

According to the latest data, the price of POPCAT could reach $1.46 with an 18% increase. Additionally, open positions have increased by 4.9% in the past 24 hours. This indicates a growing interest in POPCAT among investors and a strengthening of long-term positions. Therefore, the Solana-based meme coin POPCAT may have the potential to achieve even greater gains in the future.

WIF Technical Analysis and Expected Levels

WIF gives quite positive signals in terms of technical analysis. Meme Coin regained strength by breaking out of the important resistance level at $2.30. If the price rises above the $2.43 level, WIF has the potential to rise up to $2.95 with a 20% increase. This explains why WIF is so popular among investors.

Just like POPCAT, WIF's open positions have also increased by 8.35% in the last 24 hours. This shows that there is an increasing interest in WIF and investors are expecting a rise. As a result, WIF can also provide significant gains to its investors in the long term. Therefore, Solana meme coins are among the assets that need to be watched in the crypto market for now.

To be instantly informed of the latest developments, follow us on Twitter*,* Facebook*,* and* Instagram*,* and join our* Telegram and YouTube channels!