Solana (SOL) has experienced a significant increase in value, reaching a 3-year high of over $220 and achieving a market cap of over $103 billion. This surge has increased Solana’s influence in the crypto market and boosted activity in Solana-based meme coins. However, caution is advised, as active addresses on Solana’s network have declined, and an overbought Relative Strength Index (RSI) suggests that the price may correct soon.
Overall, Solana’s recent gains and the popularity of Solana-based meme coins demonstrate the potential of the cryptocurrency market, while the declining active addresses and overbought RSI signal that a correction may be on the horizon.
