Solana meme cash like Popcat and Cat in a canine world continued their uptrend as their complete market cap jumped to $11.38 billion.
Solana DEX quantity soars
Popcat (POPCAT) was buying and selling at $1.3220 on Monday, Oct. 21, up by 30,000% from its lowest stage this 12 months. This surge has pushed its market cap to $1.3 billion, making it the third-biggest Solana meme coin after Dogwifhat (WIF) and Bonk (BONK).
Cat in a canine world (MEW) rose to a report excessive of $0.01050, up by 285% from the year-to-date low. Its valuation has elevated to $828 million, making it the fourth-largest meme coin within the Solana ecosystem (SOL).
Different smaller meme cash like Fwog, Goatseus Maximus, Michi, and Maneki have additionally surged up to now few days.
This efficiency has translated to increased buying and selling volumes in Solana’s decentralized exchanges, which have now overtaken Ethereum. Knowledge from DeFi Llama exhibits that quantity in Solana DEXes rose by 41% within the final seven days to $12.61 billion, whereas Ethereum DEXes dealt with $8.7 billion.
Raydium maintained its standing as the largest Solana DEX, dealing with $7.6 billion in token quantity. It was adopted by Orca, Lifinity, and Phoenix.
Solana additionally surpassed Ethereum in month-to-month quantity, reaching $30.4 billion in October, in comparison with Ethereum’s $26.5 billion.
The identical pattern occurred within the perpetual futures market. Solana’s networks dealt with perpetuals price $4 billion within the final seven days, whereas Ethereum had $2.83 billion. This month, Solana’s community processed perpetual futures price $12 billion in comparison with Ethereum’s $7.9 billion.
This robust efficiency is essentially as a result of reputation of Solana meme cash like MEW and Popcat, which have led the current positive factors.
Knowledge from CoinCarp exhibits that these tokens have attracted extra holders in current months. Popcat has 77,750 holders, up from 68,300 on Sept. 21. Equally, Cat in a canine world has 178,200 holders.
Popcat value has fashioned a bullish pennant
The day by day chart exhibits that the Popcat token has fashioned a bullish pennant chart sample, characterised by an extended flag pole and a triangle sample. It additionally stays above the 50-day Exponential Shifting Common.
The token could stage a powerful rally now that the triangle sample is nearing its confluence. If this occurs, the preliminary goal will likely be $1.5535, its highest level on report.
Cat in a canine world fashioned a cup and deal with
On the day by day chart, the MEW token made a powerful bullish breakout above $0.0087, its highest level on June 24, and the higher aspect of the cup and deal with sample.
Cat in a canine world has additionally moved above the 50-day shifting common. Additional positive factors will likely be confirmed if it rallies above its all-time excessive of $0.01047.
