- Solana reclaims $200 with 47% monthly gains and rising developer engagement.
- Meme coins like PENGU and Bonk surge as the Solana ecosystem attracts speculators.
- Mercurity’s $200M Solana deal disputed as Solana Ventures denies equity agreement.
Solana has achieved the $200 price milestone for the first time since June 6th, triggering increased crowd interest according to Santiment analysis. The price breakthrough comes alongside elevated developer activity reaching two-month highs.
At press time, market data shows SOL posting 5.5% daily gains with 24.8% weekly and 47.5% monthly appreciation. The consistent upward movement across multiple timeframes shows sustained buying interest rather than temporary speculation.
Santiment expects temporary retests of the $200 level as traders secure profits and new buyers evaluate entry points. However, the analytical platform emphasizes that long-term prospects benefit from increased developer engagement that validates network utility and ecosystem expansion.
Solana Meme Coins Jump Alongside SOL
Solana-based meme coins have participated in the network’s rally with several tokens posting double-digit weekly gains. Pudgy Penguins (PENGU) leads with 25.1% seven-day appreciation despite trading at $0.03721, while Fartcoin achieved 24.8% and weekly gains at $1.58.
Bonk secured 14.2% weekly returns with the price at $0.00003421. Official Trump token gained 19.1% weekly to $10.86, while dogwifhat posted 23.4% appreciation, reaching $1.23. Popcat is trading at $0.4221, with a 16.2% weekly gain.
Solana Ventures Clarifies Treasury Strategy News
There was a recent controversy over Mercurity Fintech’s announcement that it had received a $200 million equity line of credit from Solana Ventures to develop its treasury plan. Solana Ventures, however, clarified that it did not agree on any public company equity credit agreements, suggesting that the press release may have misrepresented or misused the Solana Ventures name.
The proposed plan aimed to accumulate SOL, earn staking rewards, and invest in tokenized finance opportunities within the Solana ecosystem. Although the actual deal cannot be verified, the announcement suggests institutional interest in Solana-based treasury strategies.
Developer activity metrics add validity to Solana’s price appreciation. Increased programming activity is indicative of the ecosystem expanding into new applications and infrastructure development.
The mutual interaction between price milestone attainment and developer activity expansion provides positive feedback mechanisms that encourage ongoing network adoption. Increasing SOL prices attract developer talent, and rising programming activity sustains network utility. Santiment analysis suggests that the recent rally is developer-driven based on metrics and not driven by speculative buying.
Related: Here’s Where Solana Is Starting to Look Stronger Than Ethereum
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