Solana (SOL) has been riding a powerful bullish wave, surging nearly 22% in the past week and positioning itself for even more upside potential. With its price currently consolidating just below its recent all-time high, analysts are closely watching for a major breakout, driven by growing market enthusiasm and a spike in trading activity on the blockchain.
Meme Coin Mania Fuels the Rally
A key factor behind Solana’s latest surge is the explosion of meme coin activity on the network. Over the weekend, the launch of a Donald Trump-themed meme coin on Solana set decentralized exchange (DEX) trading volumes and blockchain fees to new record levels. This unexpected frenzy has once again highlighted Solana’s efficiency and scalability, catching the attention of investors and crypto enthusiasts alike.
Trump’s Crypto Executive Order Sparks Market Momentum
Adding to the excitement, U.S. President Donald Trump recently signed a crypto executive order, which sent shockwaves through the market. Bitcoin (BTC) soared past $105,000, igniting bullish momentum across the altcoin sector, with Solana benefiting from the surge. This wave of positive sentiment has helped propel SOL’s value, with many analysts predicting further price increases.
Solana Eyes Key Resistance at $270
At the time of writing, Solana is trading at $265.76, with a 24-hour trading volume of $55.58 billion and a market capitalization of $129.29 billion. SOL has gained 7.25% in the past 24 hours alone, strengthening its bullish case.

Crypto analyst Jelle has pointed to a pennant pattern, suggesting that Solana is poised for a breakout. The critical resistance level to watch is $270. If SOL breaches this threshold, it could set the stage for new all-time highs. As investor optimism grows, all eyes are on Solana as it inches closer to what could be a significant upward move.
Also Read: Grayscale Files for Litecoin and Solana ETFs Amid ETF Frenzy Post-Gensler Exit
In summary, Solana‘s recent rally, fueled by meme coin activity and market-moving developments, suggests that the blockchain may soon surpass its previous highs, making it an asset to watch in the coming weeks.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.