- Solana-based memes added 5% in total valuation today to reach a market cap of $15.6 billion.
- PENGU and BONK have led the Solana-based memes in a bullish outlook.
- SOL price has little resistance to price discovery and may mirror XRP to a new all-time high.
The rising calls for a 2025 altseason have increased the speculation for Solana (SOL)-based memecoins. In the past 24 hours, the Solana-based memecoins added 5.1% in market capitalization to hover about $15.57 billion on Tuesday, July 22.
In the past seven days, cat in a dogs world (MEW), dogwifhat (WIF), Pudgy Penguins (PENGU), and Fartcoin (FARTCOIN) led the Solana-based memes with gains of 35%, 22%, 25% and 22% respectively.
Reasons why Solana-based memes are surging
The top reason why Solana-based memes have gained bullish sentiment is the significant capital now rotating into the altcoin market.
According to a weekly report from CoinShares, the digital asset investment products recorded their largest weekly inflows on record, totalling $4.39 billion, thus surpassing the previous peak of $4.27 set post-US election in December 2024.
Remarkably, Solana recorded a net cash inflow of $39 million, thus increasing the net assets under management (AUM) to $$1.83 billion. The rising demand for Solana by institutional investors has trickled down to the memecoins.
Furthermore, the U.S. Securities and Exchange Commission (SEC) is reviewing the Canary PENGU ETF, which will give investors direct exposure to the Solana-based meme if approved.
The Solana-based memes have gained bullish momentum following the record initial coin offering (ICO) of the Pump.fun (PUMP) token. Notably, the PUMP ICO sold out in 12 minutes, thus raising $500 million.
Evidently, more investors are betting on the Solana memecoin ecosystem, especially through Pump.fun and LetsBONK.fun.
Top Solana memecoins for traders to consider
The Solana-based ecosystem has thousands of not millions of memecoins created through the Pump.fun and LetsBONK.fun launchpads. Navigating through the vast majority of coins to find unexplored highly-potent gems is prudent to make the best of the anticipated 2025 altseason.
Considering Solana-based meme projects with a vibrant community of users and developers is key to finding the best tokens to consider. Additionally, it is prudent to consider Solana-based memes with deep liquidity, especially those listed on major crypto centralized exchanges (CEXes) and Decentralized Exchanges (DEXes).
Related: PUMP Is Down 15%, But Why Are Traders Betting $674 Million on It in the Futures Market?
Some of the memecoins, with low market caps, that meets the above criterias include dogwifhat (WIF), Popcat (POPCAT), Moo Deng (MOODENG), Gigachad (GIGA), and Goatseus Maximus (GOAT), among others.
SOL price reaps the benefits of the memecoin hype
The gradual bullish breakout for top Solana-based memes has helped SOL price regain rising momentum. According to aggregate market data from coingecko and TradingView, SOL price has rallied over 22% in the past seven days to retest $204 for the first time since February 14, 2025.
From a technical analysis standpoint, SOL price has confirmed a higher low and a higher high since early April, thus signaling a rally towards its all-time high (ATH).
Related: A Shift in Solana’s Memecoin Market: LetsBonkFun Overtakes Pump.fun
Furthermore, the daily MACD line has remained above the zero line and the signal line amid growing bullish histograms. Additionally, the daily Relative Strength Index (RSI) has surged above the 79 level for the first time in 2025.
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