Solana (CRYPTO: SOL) continues to perform well against Bitcoin (CRYPTO: BTC), with market commentators predicting the trend could accelerate in the near term.
What Happened: In a detailed X post, pseudonymous trader Unipcs said that Solana's momentum could spill over into Solana-based meme coins, with several names set for significant upside.
He outlined his highest-conviction meme coin plays in the Solana ecosystem which can capitalize on SOL continued dominance and meme coin sector momentum.
- Bonk (CRYPTO: BONK): Solana's flagship meme coin with a devoted community and consistent buy/burn mechanisms via BonkFun. Unipcs sees it as the strongest Solana-native meme asset with breakout potential.
- Useless Coin (CRYPTO: USELESS): A newly launched, high-risk/high-reward coin seen as a leveraged proxy for the meme sector. With just a $300 million market cap, Unipcs says it could scale to billions in a meme coin market that exceeds $88 billion.
- Fartcoin (CRYPTO: FARTCOIN): A widely recognized meme token with potential for mainstream appeal. Some analysts, including Unipcs, see a more than $10 billion valuation as realistic this cycle.
Other ecosystem tokens to watch include Peanut The Squirrel (CRYPTO: PNUT) and Pudgy Penguins (CRYPTO: PENGU), which may benefit from Solana's rising network activity.
Also Read: Trader Who Called Bitcoin, Ethereum, Solana Bottom In April Now Warns Local Top Likely In August
Why It Matters: Solana meme coin valuation surged 6.9% over the past 24 hours to $15.9 billion.
DefiLlama data shows total value locked (TVL) has surged to $10.5 billion, the highest since mid-January, with a 5% rise in the last 24 hours.
Coinglass data shows Solana's open interest hit an all-time high of $11.8B, jumping 8.7% in a single day. Derivatives volume spiked by 64.7%.
As Solana continues to dominate altcoin momentum, meme coins in its orbit are increasingly seen as high-beta bets on SOL's continued rally.
Crypto trader Shelby sees Solana targeting $218.69 by late August.
Pentoshi says SOL must break from the current support/resistance flip to trigger a massive move.
Ted Pillows who correctly predicted Solana greater than $200 in Q3, now expects it to cross $250.
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