Solana Soars to 22-Month High, Leading Altcoin Rally Driven by Bitcoin Resurgence
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Solana (SOL) has surged to a 22-month high above $131, up 26% in the last week. If it hits $137, it will be a 2-year high.
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Bitcoin is up 21% in the last week but has been outgained by SOL and some altcoins like Dogecoin (53% weekly gain).
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Meme coins on Solana like Bonk (BONK) and Dogwifhat (WIF) have doubled or more in the last week.
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Bitcoin's gains, nearing its all-time high, are likely driving broader crypto market gains. Factors are spot BTC ETFs and 2024 halving excitement.
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Solana has rebounded 468% in the last year after falling as low as $8 in December 2022 following FTX collapse. Renewed optimism in ecosystem is a factor.