Amidst rising NFT and Defi use, Solana continues its propulsive rise and dethrones the main meme coin. Solana is now the seventh-largest cryptocurrency by market cap, flipping Dogecoin to take its spot. SOL has multiplied in value over the last few weeks, rising 300% over the past 30 days.
SOL, the native cryptocurrency of the Solana blockchain, has moved up one other spot to assert seventh on the checklist of probably the most worthwhile cryptocurrencies by total market cap, per data from CoinGecko. In doing so, Solana has flipped the main meme coin Dogecoin (DOGE).
Solana has seen an unbelievable rise in worth in recent weeks, climbing over 300% over the last 30 days. SOL has repeatedly set new all-time high price levels throughout that span, vaulting from about $35 per coin on August 1 to a new peak value above $136 set on Tuesday. Solana is now up 23% over the last 24 hours, continuing its propulsive rise of late, and simply handed the $100 mark for the primary time on Monday.
Alternatively, Dogecoin has seen an extra blended efficiency of late. Based on CoinGecko, its value is up 46% over the last 30 days, but only up about 7.5% over the last week. DOGE popped back up faster than some rival coins when the broader cryptocurrency market began rebounding in late July, but it’s a traditionally risky coin that tends to swing harder in either direction than coins like Bitcoin and Ethereum.
Dogecoin’s price is still up massively because of the beginning of the year, rising from $0.0055 on January 1 to a current value above $0.29. That’s a 5,200% improvement, though notice that Dogecoin remains to be almost 60% off its peak value of $0.73 set again in May. Solana’s market cap—or the total quantity of coins multiplied by the current price—now sits at $39.2 billion in comparison with $38.7 billion for Dogecoin.
