Solana Eyes $400 Target as Pump.fun Meme Coin Frenzy Drives 40% Monthly Surge
2025-07-16 10:22:50
Main Idea
Solana's price is being driven by the meme coin frenzy on Pump.fun, with potential to reach $400, though sustainability depends on more than just speculative activity.
Key Points
1. Solana's price has risen nearly 40% over the past 30 days and 65% year-to-date, trading around $161 as of July 15, 2025.
2. Pump.fun, a Solana-based platform, has generated over $60 million in fees, contributing significantly to on-chain activity and revenue.
3. Solana's market dominance has increased to 7.36% of the total crypto market cap, up from 3.9% at the start of the year.
4. The current Pump.fun frenzy is compared to the 2017 Ethereum ICO boom, but with differences such as reduced need for coding or legal expertise.
5. For Solana to sustainably reach $400, it would need a 148% increase from current prices, requiring more than just meme coin activity.
Description
Attention is shifting back to Solana due to a surge in activity driven by the launch of meme coins on the Solana-based platform.
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