Can Solana Price Reach $500 as Meme Coin Momentum Drives Gains?

Solana’s price has surged upwards for three consecutive weeks, driven by a surge in meme coin activity within its ecosystem. This rebound follows the crypto market’s overall recovery, and it has been fueled by the rise of Solana-based meme coins like Bonk (BONK) and Fartcoin (FARTCOIN). 60% gains on SOL have been recorded this month, and other prominent Solana tokens are up over 50% in just a week. This remarkable rebound has seen the combined market capitalization of Solana meme coins surpass $8.78 billion, after hitting a low of $6 billion earlier this month.