bullish

Solana

Peanut the Squirrel

Elon Musk

<p>The <a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">Solana price</a> has surged past the bullish $241 target as volume on the network’s decentralized exchanges (DEXs) skyrockets amid a seemingly unstoppable meme coin mania.</p>  
<p>Layer 1 blockchain Solana’s price can reach $500 by year’s end as its speed and efficiency advantages over competitors like Ethereum continue to impact market positioning.</p>  
<p>If Solana can hold the break above the crucial $241 level, then the next target for bulls is $291, which is well into price discovery territory – the SOL all-time high is $259.</p>  
<p>It would be a steep climb to hit $500 by the end of the year, but even a shallower ascent would easily capture $350-$400 price range targets.&nbsp;</p>  
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXepTjX_raqR9nXqTAKm394c4KfIM2tcyskz4VvzVZl8xGw9acbP_BuVSQ6UfHoVnaOreCPVr9Q5Uo3qGPQcWpf2nyLm-jhDevrJgs7ymLQMMWiBzBeYD8kzR5Y7i4krS2INxhXCxA?key=JI_BblZRAQ91aAePTDRxYr2I" alt="">
</figure>  
<p>DEX daily volume on Raydium is more than double that of Ethereum-based Uniswap ($3.93 billion vs $1.45 billion), according to the <a href="https://defillama.com/dexs" rel="noopener noreferrer nofollow">latest DefiLlama data</a>.&nbsp;&nbsp;&nbsp;</p>  
<h2 id="h-solana-meme-coins-explode-in-value-pump-fun-market-cap-passes-8-billion" class="wp-block-heading">Solana Meme Coins Explode As Pump.Fun Market Cap Surpasses $8 Billion</h2>  
<p>Behind the surge is the explosive growth of meme coins on the Solana chain, which has become the de facto home of meme coins, helped by the <a href="https://pump.fun/" rel="noopener noreferrer nofollow">pump.fun</a> launchpad breakout success.&nbsp;</p>  
<p>Through its clever implementation of bonding curves that abstract away complexity through its user-friendly design, pump.fun enables anyone to quickly spin up a meme coin at the click of a button at minimal cost.</p>  
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeduEK-DxWhdu6qXSJr4o3pzimmPeo7DtG0YmSasNdOOGRxvOgXRzLKWpt5WjAeUw-2ozb8e9l8CM_4TGo_NosfRIyxObf7f6vrW-y4Qxf2zEggxJznjSbJHagPShI3rVryrJSZcA?key=JI_BblZRAQ91aAePTDRxYr2I" alt="">
</figure>  
<p>The pump.fun ecosystem is today valued at $8.2 billion with an equally impressive 24-hour trading volume of $4.3 billion.</p>  
<p>Leading the charge on pump.fun is Peanut the Squirrel ($PNUT), commanding a market value of $1.6 billion a little more than two weeks since its launch.</p>  
<p>Since its listing on Raydium on November 3 at $0.075 the $PNUT price has surged 2,046% to $1.61. If you had bought it at its lowest point on the open market ($0.0318) you would have bagged a return of 5,099%.</p>  
<p>Those who bought $PNUT on the bonding curve prior to its Raydium listing will be sitting on an even bigger return on investment.</p>  
<p>To be listed on Raydium, tokens must reach a market cap of $69k. When that is achieved, $12,000 liquidity is deposited on Raydium and burned.&nbsp;</p>  
<h2 id="h-how-to-find-the-next-pnut-on-pump-fun" class="wp-block-heading"><strong>Here’s How To Find The Next Gem Like PNUT On Pump.Fun</strong></h2>  
<p>For those hunting for the next hot pump.fun token, the ‘about to graduate’ section in the advanced section of pump.fun shows users what’s in the imminent listings pipeline.</p>  
<p>Pump.fun launchpad tokens are all fair sales, so there is no presale or team allocation.</p>  
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXf2rKYXN4DGAhfgOTyNtMfiBJuXIa_cVYo70MOxYMj7-A0Xf-LoQ5CkAwJxwHe12LJipvqpMUfkvzWkp_D1UBFSdasP0S6eOsG3WM5AWO7bd9IBxjOvPtNvXj-76dvHkxeJEjGo?key=JI_BblZRAQ91aAePTDRxYr2I" alt="">
</figure>  
<p>If more evidence is needed of the growing dominance of Solana in the meme coins category, take a cursory glance at the CoinMarkeCap homepage:</p>  
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXf-UKhtOn2qpnOTgszorxwFF9m2QVuqK5Z6TFX1KrSlCF-yCcKKv2DNUjJK1NlKQemjfnevG2jEYRLYsloGVGXD0yTbtdipPJ8dGQ-hA4c6IQhIjDqyuBkQ_jFDiyTzR7KC0zErfQ?key=JI_BblZRAQ91aAePTDRxYr2I" alt="">
</figure>  
<p>Solana is now the second most valuable blockchain for running smart contracts. Its proof of stake and proof of history technology is proving its worth as a scalable solution for commercial activity, even though meme coins are of course primarily vacuous viral efforts from the standpoint of their use value.&nbsp;&nbsp;&nbsp;</p>  
<h2 id="h-robinhood-and-coinbase-help-create-weekend-solana-fomo" class="wp-block-heading">Robinhood And Coinbase Helped Boost Solana FOMO</h2>  
<p>Another couple of things have helped Solana over the past few days. Last week, Robinhood reversed its previous delisting of several coins, including Solana—it no longer thinks there is a danger that the formerly delisted need worry about the Securities and Exchange Commission’s unregistered securities diktats.</p>  
<p>In addition, Coinbase launched its <a href="https://www.coinbase.com/en-gb/coin50" rel="noopener noreferrer nofollow">COIN50 index</a> aimed at helping institutions to easily track the market. Eligible institutions outside of the US, Canada and UK can trade the index.&nbsp;</p>  
<p>Solana is in the index with a weighting of 6%. However, Solana market cap as a percentage of the total crypto market cap is 3.56%, so 6% represents an overweight position. In other words if a company were looking to replicate the COIN50, they would need to buy more than the market cap weight of the coin. Bitcoin has a weighting of 50% in the Coinbase COIN50 index while its actual dominance of total market capitalization is 59%.</p>  
<h2 id="h-solana-the-institutions-are-coming-sol-strategies-and-etfs-to-smooth-the-way" class="wp-block-heading">Solana: Institutions Are Coming, With Sol Strategies And ETFs Smoothing The Way</h2>  
<p>Institutional interest in Solana is exploding as financial advisors and asset managers adjust their portfolios to allocate to crypto inside the 5% portion typically reserved for alternative asset classes, or those deemed high-risk and more speculative.&nbsp;</p>  
<p>On that, Anchorage Digital CEO and co-founder Nathan McCauley told the <a href="https://www.washingtonpost.com/technology/2024/11/16/bitcoin-price-trump-doge-investors/" rel="noopener noreferrer nofollow">Washington Post</a> last week, “The next wave of crypto adoption likely won’t be driven by crypto-native individuals, but by mainstream investors who prefer to access digital assets through their existing wealth management and financial adviser relationships.” Anchorage is the only federally chartered crypto bank in the US.&nbsp;</p>  
<p>Solana will be one of the top picks, alongside bitcoin, for inclusion in investment portfolios. For those institutions not looking to hold the digital asset directly, there is now a publicly traded Solana holding company called <a href="https://solstrategies.io/" rel="noopener noreferrer nofollow">Sol Strategies</a> available that invests directly in Solana and the network’s ecosystem. For instance, last week it bought four validators in a stock and cash deal to <a href="https://cryptonews.com/news/sol-strategies-acquires-cogent-cryptos-solana-validator-assets-valued-at-203-6-million-in-stock-and-cash-deal/" rel="noopener noreferrer nofollow">acquire Cogent Crypto</a>.</p>
<p><img decoding="async" class="alignnone  wp-image-600116" src="https://insidebitcoins.com/wp-content/uploads/2024/11/TonyG-231x300.jpg" alt="" width="444" height="577" srcset="https://insidebitcoins.com/wp-content/uploads/2024/11/TonyG-231x300.jpg 231w, https://insidebitcoins.com/wp-content/uploads/2024/11/TonyG-790x1024.jpg 790w, https://insidebitcoins.com/wp-content/uploads/2024/11/TonyG-768x996.jpg 768w, https://insidebitcoins.com/wp-content/uploads/2024/11/TonyG.jpg 850w" sizes="(max-width: 444px) 100vw, 444px"></p>  
<p>As regulations become clearer, the probability of Solana ETFs being approved has risen substantially since <a href="https://www.sec.gov/Archives/edgar/data/2028541/000162828024030249/vanecksolanatrusts-1.htm" rel="noopener noreferrer nofollow">VanEck Digital Assets fired the Solana ETF starting gun</a> with the first SEC filing on June 27 2024.</p>  
<p>And things have moved on since the <a href="https://www.ft.com/content/d37543d9-fe2f-43f5-986a-df37ea7f99d8" rel="noopener noreferrer nofollow">Financial Times reported on July 26</a> that VanEck Solana ETF’s success probably hinged on the outcome of the US presidential election:&nbsp;</p>  
<p>Matthew Sigel, head of digital assets research at VanEck, confirmed on X that his company’s filing was a bet on a Trump victory. Legislation for crypto in Washington could also resolve the issue. But with a deadline of March, “a lot of things need to change and they have to change quite fast”, said Tischhauser.</p>  
<figure class="wp-block-embed">
 <div class="wp-block-embed__wrapper"><img decoding="async" class="alignnone  wp-image-600118" src="https://insidebitcoins.com/wp-content/uploads/2024/11/NateG-300x298.jpg" alt="" width="443" height="440" srcset="https://insidebitcoins.com/wp-content/uploads/2024/11/NateG-300x298.jpg 300w, https://insidebitcoins.com/wp-content/uploads/2024/11/NateG-768x764.jpg 768w, https://insidebitcoins.com/wp-content/uploads/2024/11/NateG-64x64.jpg 64w, https://insidebitcoins.com/wp-content/uploads/2024/11/NateG-86x86.jpg 86w, https://insidebitcoins.com/wp-content/uploads/2024/11/NateG.jpg 894w" sizes="(max-width: 443px) 100vw, 443px">
 </div>
</figure>  
<h2 id="h-solana-ecosystem-development-is-going-from-strength-to-strength" class="wp-block-heading">Solana Ecosystem Development Keeps Getting Stronger</h2>  
<p><strong>Here’s a roundup of news from the Solana space, that shows the protocol improvements and adoption traction the ecosystem is seeing:</strong></p>  
<p>The Breakpoint 2024 conference showcased advancements in ZK compression technology for Solana, aimed at reducing data storage costs and enhancing scalability. Firedancer is a game changer for future scalability, as Cryptonews.com reported in an interview with Valkyrie co-founder and <a href="https://cryptonews.com/exclusives/why-solana-will-be-altcoin-seasons-big-winner-as-sol-strategies-seeks-to-accelerate-its-blockchain-adoption/" rel="noopener noreferrer nofollow">Sol Strategies CEO Leah Wald</a> earlier this month.</p>
<p><iframe title="Breakpoint 2024: Keynote: Fast Forward From Frankendancer to Firedancer (Kevin Bowers)" width="640" height="360" src="https://www.youtube.com/embed/8sl3RcN2Rdk?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>   
<p>The <a href="https://solana.com/news/solana-radar-winners" rel="noopener noreferrer nofollow">Solana Radar Hackathon</a> attracted over 10,000 participants, highlighting the ecosystem’s vibrancy and innovative projects.</p>  
<p>The <a href="https://blog.colosseum.org/radar-hackathon-winners-midwest-blockchain-conference-mfv/" rel="noopener noreferrer nofollow">Midwest Blockchain Conference</a> emphasized Solana’s popularity among students and industry leaders, focusing on adaptable project development.</p>  
<p>An analysis of Solana’s decentralization revealed a <a href="https://www.helius.dev/blog/solana-decentralization-facts-and-figures" rel="noopener noreferrer nofollow">strong validator distribution with 4,514 nodes</a>, indicating a resilient network structure.</p>  
<p>Challenges of network congestion were addressed, with strategies proposed for optimizing transaction processing through priority fees.</p>  
<h2 id="h-diversification-is-the-name-of-the-game-meme-coins-for-your-crypto-portfolio" class="wp-block-heading">Diversification Is Key: Meme Coins For Your Portfolio</h2>
<p><iframe title="Pepe Unchained - NOW HAS HIS OWN BLOCKCHAIN!💫" width="640" height="360" src="https://www.youtube.com/embed/pqZA66JCLLU?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>     
<p><a href="https://insidebitcoins.com/visit/pepeunchained" rel="noopener noreferrer nofollow">Pepe Unchained ($PEPU)</a> is the first meme coin to have its own Ethereum Layer 2 blockchain. It’s raised just shy of $36 million in ICO, which finishes in 24 days, so there’s no time to lose if you wish to contribute. The project has raised an incredible $3.2 million since Friday. $PEPU could be the next Pepe.</p>  
<p>The ecosystem includes Pepe’s Pump Pad, an Ethereum-focused pump.fun, where meme coins can be launched by literally clicking a few buttons.</p>  
<p>The project is raising more than $1 million every 24 hours – whales can’t get enough of $PEPU, as this <a href="https://etherscan.io/tx/0xda863d23db18fcc129d1c4973def5456f857b8834de93f582baf79fb4270afec" rel="noopener noreferrer nofollow">$67,319 buy</a> attests. The price of the $PEPU token presale increases every 12 hours and at the time of writing is priced at $0.012891.</p>  
<p>Anyone doubting the pulling power of the Pepe brand in crypto right now should take a look at an <a href="https://twitter.com/elonmusk/status/1858273930609319969" rel="noopener noreferrer nofollow">Elon Musk X post yesterday</a>.</p>
<p><iframe title="PEPE COIN PRICE | PEPE COIN NEWS (URGENT BULLISH CHART FORMING!!!)" width="640" height="360" src="https://www.youtube.com/embed/xRiOLZvMk1U?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>  
<figure class="wp-block-embed">
 <div class="wp-block-embed__wrapper"><a href="https://insidebitcoins.com/visit/cryptoallstars" rel="noopener noreferrer nofollow">Crypto All-Stars ($STARS)</a><span style="background-color: var(--bs-body-bg); color: var(--bs-body-color); font-family: var(--bs-body-font-family); font-size: var(--bs-body-font-size); font-weight: var(--bs-body-font-weight); text-align: var(--bs-body-text-align);"> is a meme coin ecosystem that introduces the innovative concept of unified staking for meme coins. The MemeVault Network allows meme coin fans to stake their tokens, but to maximize returns users need to hold the $STARS token.</span>
 </div>
</figure>  
<p>Crypto investors like what they see – the presale raise total so far is $4.2 million. $STARS sells for $0.0015806 and there’s only around 72 hours to go before the next price rise. A whale has just bought<a href="https://etherscan.io/tx/0x469747fc96f5c6ed030d6d27b79cd5d7dc728fe44b84c8fde2ab02762f430ad2" rel="noopener noreferrer nofollow"> $21,714 worth of $STARS</a>.</p>  
<p><a href="https://insidebitcoins.com/visit/flockerz" rel="noopener noreferrer nofollow">Flockerz ($FLOCK)</a> is ‘the people’s meme coin’. It is the first meme coin that will be run by its token owners through its vote-to-earn mechanism. Flockerz empowers its community – The Flock – to guide the project by voting on proposals and are rewarded for their participation. Flockerz has raised $2.2 million and is priced at $0.006053 in the current price stage, which ends in two days.</p>  
<p><a href="https://insidebitcoins.com/visit/freedumfighters" rel="noopener noreferrer nofollow">FreeDum Fighters ($DUM)</a>&nbsp;is a PolitiFi-focused coin that has raised more than half a million dollars for its revolutionary vote-to-earn take on the thrills and spills of the political campaign trail, all with tongue-in-cheek memeification.</p>  
<p><strong>You can buy the presales mentioned above in the </strong><a href="https://insidebitcoins.com/visit/bestwalletpresale" rel="noopener noreferrer nofollow"><strong>Best Wallet</strong></a><strong> app. The wallet’s native token $BEST is for sale exclusively to Best Wallet users in a private sale.</strong></p>

Solana Price Could Hit $500 By End 2024: Here’s Why

Table of Contents

Inside Bitcoins

Other articles published on Nov 18, 2024

Cardano-Bitcoin bridge may be first step to true Bitcoin DeFi

MicroStrategy’s Bitcoin Holdings Reach $24B with Latest Acquisition

Slawomir Mentzen Proposes Bitcoin Reserve for Poland

HBAR Heads to Space: SpaceX’s Bold Blockchain Mission

New Bitcoin Announcement from Binance! This Altcoin's Price Has Increased Incredibly!

Top 5 Memecoins to Deliver Portfolio Growth in a Few Weeks

Join our free newsletter for daily crypto updates!