Solana (CRYPTO: SOL) edged up 0.04% to $174.63 on May 28, 2025, as MetaMask rolled out native support and a viral meme coin sparked renewed trading. Daily volume rose 26% to $3.5 billion, signaling fresh activity despite muted price action.

MetaMask’s rollout of native support for the Solana blockchain allows users to hold and transact Solana-based assets within its interface—marking its first expansion beyond Ethereum (CRYPTO: ETH). The integration lowers friction for retail traders and gives developers access to a combined dApp ecosystem across both chains. It’s a key infrastructure shift aimed at making Solana accessible to Ethereum-native users.

Don't Miss:

The move coincided with a speculative rally in an unofficial Solana meme coin tied to Labubu, a Pop Mart toy character. After the company halted Labubu sales over safety concerns, the token surged, peaking at $49.16 million before pulling back to $41.55 million. The frenzy underscores Solana’s role as a hotspot for retail speculation.

Standard Chartered Bank PLC launched its first coverage of Solana, forecasting a year-end price of $275. Geoffrey Kendrick, Head of Digital Assets, said Solana could lag Ethereum over the next two to three years unless it broadens real-world use. He flagged scaling and utility gaps as the key hurdles to long-term performance.

SOL has  support in the $168–$170 range, with resistance around $185. The 50-day moving average near $165 is acting as a floor, while $160 marks the next downside level, if momentum stalls. Open interest in futures is climbing, suggesting institutions are adding exposure even as spot moves remain range-bound.

According to Solscan, daily active addresses are up 15% this week, nearing 1.2 million. TVL across DeFi protocols is holding at $5.8 billion, revisiting levels last seen in early 2022. 

Funding rates are mixed across major derivatives exchanges, and short-term profit-taking is visible. Traders are watching whether MetaMask’s support brings new capital inflows. If the meme-coin buzz fizzles before it translates into real adoption, SOL could see a break below $165, which could flip the momentum.

If SOL can sustain rising on-chain activity and hold above $170, the next upside test is near $200, provided Solana’s developer ecosystem can translate headline gimmicks into a lasting engagement.

The MetaMask update is expected to boost Solana’s visibility among wallets, DeFi builders, and multichain projects looking to escape Ethereum’s fee dynamics. The Labubu coin surge may have been noise, but it still activated the network. 

The future outlook is cautiously bullish, with Standard Chartered warning that meme-driven growth won’t be enough. Real gains will depend on execution, especially on scaling, developer adoption, and upcoming infrastructure like the Wormhole v2 upgrade aimed at better cross-chain liquidity.

Prolonged underperformance relative to Ethereum remains a risk until Solana proves its chops in high-throughput financial applications and mainstream dApp utility.

More Opportunities:

Image: Shutterstock