Franklin

Rally

Solana

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/surge-in-solanas-market-value-overtakes-crypto-market-trends">Surge in Solana’s Market Value Overtakes Crypto Market Trends</a><br></p>
<p style="text-align: justify"> The cryptocurrency <a href="https://en.bitcoinhaber.net/expert-analyst-predicts-explosive-upward-movement-for-solana-amidst-crypto-market-fluctuations">Solana</a> (SOL) recently experienced a notable surge, climbing to $174, the highest price point since January 2022. This 6.70% increase set Solana apart from the broader cryptocurrency market, which saw a slight decline on the same day. Despite a minor retraction to $166 at the time of reporting, Solana’s strong performance has sparked interest in the market. </p> 
<h2 id="rally-behind-solana-s-ascent">Rally Behind Solana’s Ascent</h2> 
<p style="text-align: justify"> Solana’s value ascension aligns with activities associated with Dogewhatif (WIF), a memecoin project. Enthusiasts of WIF managed to fundraise $50,000, part of a larger $700,000 goal, which they used to promote the token in Las Vegas. Consequently, WIF’s value rose by 25%, with the market valuation crossing the $3 billion threshold. </p> 
<p style="text-align: justify"> The upturn in Solana’s price trajectory began soon after the Dogwifhat promotional campaign was publicized on March 10th. Since then, SOL has seen a more than 24% rise, gaining further momentum post the successful WIF fundraising event. </p> 
<p style="text-align: justify"> The enthusiasm for Solana is partly driven by the network’s embrace of memecoin projects. A study from Franklin Templeton highlighted that a significant percentage of network activities corresponded with price hikes of the popular memecoin project BONK during the last quarter of 2023. </p> 
<h2 id="correlation-with-bitcoin-s-performance">Correlation with Bitcoin’s Performance</h2> 
<p style="text-align: justify"> Solana’s recent gains also reflect a wider recovery against <a href="https://en.bitcoinhaber.net/bitcoins-rise-marks-the-start-of-a-potential-bull-run-experts-claim">Bitcoin</a>. With a 32.45% increase in the SOL/BTC pair after hitting a local low earlier in the month, Solana demonstrates a shifting investor preference from Bitcoin to other altcoins. Bitcoin’s own 65% rise this year and signs of overbought conditions on the RSI suggest that investors may be exploring altcoins like Solana and <a href="https://en.bitcoinhaber.net/ripples-strategic-xrp-release-a-market-update">XRP</a>, which showcase more moderate RSI values, signaling a potentially more stable market sentiment.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/surge-in-solanas-market-value-overtakes-crypto-market-trends">Surge in Solana’s Market Value Overtakes Crypto Market Trends</a></h5>

Surge in Solana’s Market Value Overtakes Crypto Market Trends

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