“Memecoin Craze Drives Solana to Reach $160 – Its Peak Since January 2022”
The cryptocurrency passed $160 on Wednesday, marking its highest price since January 2022.
So it’s not surprising that the growth and traction on its blockchain is also being transpired through to its token.
Since mid-December, a number of Shiba Inu dog-themed tokens on the Solana blockchain like Bonk and dogwifhat have taken off.
(Please note none of this is financial advice, but one of the reasons that could point to Solana’s price increase.)
Memecoins in general have seen a huge rally as the crypto market continues to thaw from its most recent winter.