Solana’s market capitalization hit an all-time high of $81.1 billion on Friday morning in Asia. This surpasses its previous high of $77.9 billion in November 2021.
In the past 24 hours, the price of Solana has risen by 10% to $183.55 as of 9:30 a.m. Hong Kong time, but it is still far from its all-time high price of $259.96 in November 2021.
Benjamin Stani, director of business development at Matrixport, believes that the rise in Solana’s price is fueled by meme coins. In the past day, memecoins on the Solana blockchain have performed well, with Dogwifhat rising by 20%, Popcat by 35%, and Bonk by 10%.
Stani also noted that Solana-based Bonk and Dogwifhat are the first meme tokens outside of Ethereum to reach a market capitalization of over a billion dollars.
