Home web3.0 Solana SOL/USD Memecoins Rally Sharply as Broader Cryptocurrency Market Regains Momentum

Solana SOL/USD Memecoins Rally Sharply as Broader Cryptocurrency Market Regains Momentum

Sep 20, 2024 pm 03:03 PM
solana Dogecoin Shiba Inu BONK Dogwifhat Memecoins

Memecoins on the Solana SOL/USD blockchain rallied sharply on Thursday as the broader cryptocurrency regained momentum following the Federal Reserve's aggressive rate cut.

Solana SOL/USD Memecoins Rally Sharply as Broader Cryptocurrency Market Regains Momentum

Solana (CRYPTO: SOL) memecoins continued to rally on Thursday evening as the broader cryptocurrency regained momentum following the Federal Reserve's aggressive rate cut.

What Happened: Canine-inspired token dogwifhat (CRYPTO: dog) emerged as the market's biggest gainer among memecoins exceeding billion-dollar valuation, surging 6.55% in the last 24 hours. The coin's trading volume also jumped 18.56% to $424 million.

Another dog-themed coin Bonk (CRYPTO: BONK) recorded gains of more than 6%, with trading volume more than doubling to $152 million.

cat-themed cryptocurrency Popcat (CRYPTO: popcat) lifted 4.74%, extending its gravity-defying rally this year. The token was up an astounding 11130% year-to-date.

Solana memecoins outperformed the more established Ethereum (CRYPTO: ETH)-based heavyweights like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB), which were up 2.66% and 4.39%, respectively.

The performance of memecoins rubbed on Solana's native token SOL, which was up 3.60% in the last 24 hours.

See Also: Bitcoin’s Reserve Asset Appeal Increased Due To State Of US Federal Deficit And Debt, Says BlackRock: A Hedge Against ‘Possible Future Events’ Affecting The Dollar

Major cryptocurrencies were on the move following the Fed's announcement of a 50 basis point cut in interest rates.

Bitcoin has rallied nearly 6% since the announcement, while Ethereum was up more than 10%.

Image via Shutterstock

Don't Miss Out on Crucial Market TipsJoin Benzinga Pro for a limited-time offer to get concise, actionable insights. From navigating the market's ups and downs to uncovering new opportunities, we'll help you make informed trades and maximize your earning potential.

Click Here to Get Benzinga Pro at a Discounted Rate

The above is the detailed content of Solana SOL/USD Memecoins Rally Sharply as Broader Cryptocurrency Market Regains Momentum. For more information, please follow other related articles on the PHP Chinese website!

Statement of this Website
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

Video Face Swap

Video Face Swap

Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Tools

Notepad++7.3.1

Notepad++7.3.1

Easy-to-use and free code editor

SublimeText3 Chinese version

SublimeText3 Chinese version

Chinese version, very easy to use

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

SublimeText3 Mac version

SublimeText3 Mac version

God-level code editing software (SublimeText3)

Hot Topics

Java Tutorial
1664
14
PHP Tutorial
1266
29
C# Tutorial
1239
24
Various ETF issuers compete to apply for Solana ETF! But why is BlackRock still absent? Various ETF issuers compete to apply for Solana ETF! But why is BlackRock still absent? Mar 03, 2025 pm 06:33 PM

Many ETF issuers are scrambling to apply for SolanaETF, but BlackRock is still holding back? This article will interpret this phenomenon. SolanaETF application boom The Securities and Exchange Commission (SEC) has accepted SolanaETF applications submitted by several institutions, including Bitwise, 21Shares, VanEck, CanaryCapital and Grayscale. Bloomberg predicts that the probability of Solana spot ETF being approved by the end of the year is as high as 70%, which is closely related to the Trump administration's friendly attitude towards cryptocurrencies. The establishment of Franklin's "Franklin SolanaTrust" also implies its potential application for SolanaETF. However, Sol

How to Find the Next Peanut the Squirrel (PNUT) Solana Memecoin That Could Rally to Astronomical Heights How to Find the Next Peanut the Squirrel (PNUT) Solana Memecoin That Could Rally to Astronomical Heights Nov 15, 2024 pm 03:34 PM

Solana memecoins continue to make waves in the crypto space with the newest memecoin that has taken the crypto space by storm, Peanut the Squirrel (PNUT) token

WallitIQ (WLTQ): Investors Positioning For A 34,000% ROI As Dogecoin And Shiba Inu Prices Compete For Dominance WallitIQ (WLTQ): Investors Positioning For A 34,000% ROI As Dogecoin And Shiba Inu Prices Compete For Dominance Nov 15, 2024 pm 12:00 PM

The crypto industry is now in a full bullish mood where traders are looking for the best cryptocurrency to get in on. This bullish mood has seen the Dogecoin price and Shiba Inu price compete for dominance among both retail and institutional investor

WallitIQ (WLTQ) To Rival The Meme Coin Hype Cycle WallitIQ (WLTQ) To Rival The Meme Coin Hype Cycle Nov 14, 2024 pm 12:38 PM

The ongoing rivalry between Shiba Inu (SHIB) and Dogecoin (DOGE) has captured the attention of investors. As both projects continue to build, SHIB's lead dev recently proposed a challenge to the Ethereum founder and urged recognition of Shiba Inu (SH

Rexas Finance (RXS) Presale Gathers Steam as Investors Seek Alternatives to Speculative Meme Coins Rexas Finance (RXS) Presale Gathers Steam as Investors Seek Alternatives to Speculative Meme Coins Nov 17, 2024 am 07:32 AM

As Shiba Inu (SHIB) and Dogecoin (DOGE) attract fresh investor interest in November 2024, the meme currency mania keeps on full tilt. While DOGE has skyrocketed 56.55%, SHIB, trading at $0.0000193, has seen an amazing 21.87% increase in price.

Have you applied for SOL's ETF? Learn about the application process of SOLANA ETF in one article Have you applied for SOL's ETF? Learn about the application process of SOLANA ETF in one article Mar 03, 2025 pm 09:00 PM

Solana (SOL) ETF application: In-depth analysis and future prospects In the near future, there is a surge in crypto ETF applications, which is closely related to the SEC's increasingly friendly attitude towards cryptocurrencies and its clear approval rules. As a mainstream cryptocurrency, Solana (SOL)'s ETF application progress has attracted much attention. This article will conduct in-depth discussion on the current status, impact and future prospects of SOLETF applications. Current status of SOLETF application. Several institutions have submitted SOL spot ETF applications, among which Grayscale is particularly eye-catching. It plans to convert Solana Trust Fund into spot ETF, which will further expand its influence in the digital asset market. If approved, the ETF will be listed on the New York Stock Exchange under the code

Why did Solana go bankrupt? Is the reason why PI coins are listed on Binance? Why did Solana go bankrupt? Is the reason why PI coins are listed on Binance? Mar 03, 2025 pm 09:54 PM

Solana's recent price decline may be related to the potential Binance listing speculation of PiCoin (PI). Binance's poll showed that 86% of participants supported the listing of PI coins, which could attract a large amount of capital to flow into PI, causing some Solana investors to turn to PI. Solana's price plummeted: Will PI coins replace SOL and become the first choice for investors? Solana (SOL) prices have fallen sharply recently, falling 16% last week and 37% last month. Loss of key support levels has heightened investor concerns. While the overall crypto market downturn is partly responsible, the panic selling of traders has exacerbated the decline. Solana network activity has dropped significantly, with transaction volume plummeting from $1.99 billion in November 2024

Will the Solana ETF be approved in 2025? SOL ETF debuts at DTCC Will the Solana ETF be approved in 2025? SOL ETF debuts at DTCC Mar 04, 2025 am 09:06 AM

SolanaETF: Will it be approved this year? What impact will it have on the market? After Bitcoin and Ethereum spot ETFs were approved, the market's attention turned to the next potential ETF target: Solana. Several companies have submitted SolanaETF applications, triggering heated discussions in the market about the possibility that SOL spot ETF will be approved this year. Latest progress of SolanaETF Recently, VolatilityShares' two Solana futures ETFs have been included in the US Securities Centralized Custody and Settlement Company (DTCC) list, indicating that the SolanaETF ecosystem has entered a critical stage and has also increased the expectation of SOL spot ETF approval. DTCC plays a central role in global financial markets, and its list means these