The entire Solana ecosystem is breaking out just as SOL is closing in on a $200 re-test, with BONK, WIF and POPCAT all printing green candles overnight. From billion-dollar coins down to microcaps, the entire Solana memecoin space is exploding right now.
Alongside SOL and its ecosystem of memecoins and utility projects booming, DefiLlama data shows that the total-value locked (TVL) on Solana has spiked 6.5% in the past day, to $9.6 billion.
$SOL is on the verge of breaking out of it's 4 month downtrend.
You're not late to things.
The belief you are will hamper your potential to make money. pic.twitter.com/85cIFL5bVG
— Cold Blooded Shiller (@ColdBloodShill) May 23, 2025
SOL USD Back To $200 By The End Of May? Market Analysts Seem To Think So
Solana (SOL) has been working hard to break out of a near four month downtrend in recent weeks. It has posted modest 20% gains in the past 30 days, with a further 2% spike overnight.
This rally from SOL sees it trading for around $181, putting it touching distance of a $200 retest. The next step for SOL is to break and hold above $190, which should then see a clear run to $200.
If $200 SOL becomes a reality in the short-term, investors should be looking at February’s yearly high of $262 as the next price target as there is no real resistance between $205 and $262.
However, many analysts believe that a fake out will come first to liquidate late longers, reset the funding rate, before a surge toward $220, wiping out shorters at the same time.
This is a classic move for many large cap coins as they edge closer to a breakout above key levels and SOL following this playbook would be no different.
If the market continues to remain uber-bullish, the fakeout may not come and SOL may charge straight toward $200 without any pullbacks, making it a risky play for both bulls and bears.
RELATED: Top Solana Meme Coins to Buy in May 2025
The Solana Memecoin Space Is Going Crazy: Is Solaxy (SOLX) The Bluechip Solana Play For 2025?
The entire Solana ecosystem is blowing up right now, with notable Solana memecoins such as BONK, WIF and POPCAT all up big in the past few weeks. Just looking at the 7-day timeframe shows BONK up 10%, WIF +13% and POPCAT printing an 11% candle.
This breakout across the entire Solana ecosystem is both a blessing and a curse. The struggles of the Solana network during times of peak activity are well documented since its launch back in 2020.
Whenever on-chain activity peaks on Solana, it is known to struggle, with delayed/failed transactions, slowdowns and even full-blown outages the most common issues.
This is where Solaxy (SOLX) comes in clutch. It is the first ever Layer-2 solution for Solana and is launching at the perfect time with the market heading into peak bull territory.
The hype for SOLX is clear, with the presale raising a staggering $39.5m since beginning earlier this year. The demand for a native L2 solution for Solana is apparent, especially when considering Ethereum’s ecosystem of L2 protocols valued at a combined $16.5 billion.
While the Ethereum L2’s are all stepping on each others toes, vying for the same market share and user base, Solaxy stands alone on a network with over $9.6b in TVL and $3.6b in daily on-chain trading volume.
Solaxy Runs On Rollup Technology And Has Just Announced Its Pump.fun Competitor: Igniter Protocol
Introducing: Igniter Protocol 🔥
We’re excited to officially announce Igniter — Solaxy’s native token launchpad protocol. Igniter gives $SOLX holders the power to create, launch, and bootstrap their own tokens directly on the Solaxy rollup.
This is more than a launchpad. It's… pic.twitter.com/DhNIguaPct
— SOLAXY (@SOLAXYTOKEN) May 22, 2025
SOLX will be the native token powering the Solaxy protocol, with Solaxy utilizing rollup technology to batch together Solana transactions before taking them off chain for processing, to then send back to the mainnet for settlement.
This strategy will see the stress load reduced on Solana, while maintaing the security and speed that the Solana network is well known for.
Solaxy also recently announced its ‘Igniter Protocol’, its own Pump.Fun token launchpad. Igniter will give SOLX holders the power to create, launch, and bootstrap their own tokens directly on the Solaxy rollup.
There is a good chance that the next 100x Solana memecoin play could be launched via the Igniter Protocol.
With its own launchpad, Solaxy isn’t just Solana’s first L2; it is an all-in-one, rollup-native ecosystem. Igniter and full mainnet rollout are just the beginning of the roadmap for Solaxy, with lots more to come.
Visit The Solaxy Presale To Learn More
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