Solana News Today: A New Chapter for Crypto: Meme Coins Drive Interaction, Utility Tokens Provide Stability

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Solana News Today: A New Chapter for Crypto: Meme Coins Drive Interaction, Utility Tokens Provide Stability

Bitget-RWA2025/11/01 03:48

By:Bitget-RWA

- Meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) surge amid crypto market optimism, driven by Ethereum's rally and strategic accumulation. - Solana (SOL) fuels growth, generating $4.67M in app revenue and attracting $155M in ETF inflows, signaling institutional confidence in its infrastructure. - BONK, Solana's top meme coin, retains $1.05B market cap despite 13% decline, while utility tokens like Remittix (RTX) gain traction for real-world blockchain adoption. - Analysts highlight $0.18 (DOGE) and $

The cryptocurrency sector is experiencing renewed enthusiasm for

meme

coins, with

Dogecoin

(DOGE) and

Shiba Inu

(SHIB) at the forefront as overall market sentiment improves. Latest figures indicate

DOGE

is priced at $0.2032, marking a 1.5% increase over the week, while

SHIB

jumped 1.8% to $0.00001042, fueled by a record-setting 26,492.5% rise in its burn rate, according to

Benzinga

. Experts point to targeted buying and Ethereum’s (ETH) upward momentum as key drivers, noting that SHIB has historically outperformed when ETH approaches its peak, as highlighted by Benzinga. In contrast,

Pepe

(PEPE) slipped by 0.2%, underscoring the sector’s inherent volatility.

Solana (SOL), which underpins many meme coin projects, is also making significant progress. The network generated $4.67 million in application revenue in the last 24 hours, outpacing

Ethereum

and Binance Smart Chain, as reported by

Coinpedia

. This uptick aligns with a 2% price recovery to $190, attributed to ETF investments and an expanding stablecoin market. Since launching on October 28,

Solana

ETFs have attracted more than $155 million, with Bitwise’s BSOL accounting for $152.5 million, according to

Yahoo Finance

. The same source notes that Solana’s stablecoin reserves grew by $152 million in just one day, reflecting growing institutional trust in its platform.

Solana News Today: A New Chapter for Crypto: Meme Coins Drive Interaction, Utility Tokens Provide Stability image 0

BONK, the top meme coin on Solana, has attracted attention for its potential to spark the next market rally. Despite dropping 13.04% in the past day,

BONK

retains a $1.05 billion market valuation and robust community support, according to

OpenPR

. Analysts connect its trajectory to the overall health of Solana’s ecosystem, especially its influence in NFTs and gaming. However, attention is gradually shifting to utility tokens such as Remittix (RTX), a PayFi solution that facilitates crypto-to-fiat transfers across chains. With $27.7 million raised in private investment and CertiK certification, Remittix signals a move toward practical blockchain use cases.

Although meme coins dominate the headlines, Solana’s technical strengths are vital for maintaining the current uptrend. Market observers identify $0.18 as a crucial support for DOGE and $200 as a pivotal level for

SOL

, according to analysts. Surpassing these price points could spark increased speculative and institutional interest, especially as ETF inflows and stablecoin liquidity enhance market resilience.

The intersection of speculative excitement and infrastructure development highlights the shifting landscape of crypto. As platforms like Remittix connect traditional finance with Web3, the industry may evolve toward a hybrid approach where meme coins drive engagement and utility tokens provide lasting value. For now, traders are monitoring SHIB’s burn activity, DOGE’s price stability, and Solana’s institutional uptake to anticipate the next stage of this market surge.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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