Solana rockets toward $200 as meme coin mania and stablecoin surge fuel rally

Solana’s price trajectory looks unstoppable—meme coins are pumping, stablecoins are flooding in, and traders are dumping common sense for hopium. Here’s why SOL might just laugh its way to $200 before the next ’stable’ coin rug pull.

Meme coins hijack the narrative: Dogwifhat and other Solana-based joke tokens are sucking up liquidity like a degenerate vacuum cleaner. Meanwhile, USDC and USDT inflows suggest even the ’smart money’ is piling in—or just hedging against their own poor life choices.

Technical breakout or trap? The charts scream bullish, but let’s be real—in crypto, every ’sure thing’ is just three tweets away from becoming a cautionary tale. Still, with SOL’s ecosystem firing on all cylinders (and VCs needing an exit), this train might keep rolling until Wall Street ’discovers’ blockchain again.

Solana price technical analysis

The daily chart shows that the SOL price bottomed at $95.27 earlier this month as concerns about its ecosystem jumped. It has bounced back and moved above the key resistance level at $121.17, its lowest since September last year. 

It formed an inverse head-and-shoulders pattern, a popular bullish sign. It has also moved above the 50-day moving average. Additionally, oscillators such as the Relative Strength Index and the MACD have continued to rise.

It has also jumped above the 23.6% Fibonacci Retracement level. Therefore, the coin will continue rising as bulls target the key psychological level at $200. This target is about 32% above the current level.