Solana Breaks $140 as Memecoin Market Lights Up with Mixed Momentum

Once again, Solana has laid claim to a spot above $140. This is a significant level because it has historically been a key psychological barrier that drives speculative trading activity in not just Solana, but in the crypto ecosystem as a whole.

Right on cue, this is spilling over into the memecoin market, which is now, as ever, responding with characteristic volatility—some tokens now soaring, others crashing under the weight of piling-up sell pressure.

On April 21, a large increase in memecoin activity occurred, with direct benefits from the resurgent Solana for several projects. As investors have started to look again at high-risk, high-reward plays, some meme tokens and new additions have gained serious traction, delivering impressive double-digit hourly gains. But the names and projects enjoying this rally are not so numerous. Most have a good deal of activity beneath the surface to keep things looking healthy, but one in particular looks like it might be experiencing a serious distribution event.

The day’s gains are led by $SIGMA, which is up a remarkable 15%. This pushes $SIGMA’s market cap up to $20 million. Though the token has been off the radar for a while, $SIGMA seems to be riding the next wave of attention toward the Solana ecosystem.

A close second is $TAI, which surged 10.8% and now holds a market cap of $22 million. $TAI has really gained traction in the last few weeks, thanks in a large part to a recent series of community-led events, almost all of which have acknowledged TAI’s serious and loyal community, as well as the project’s seemingly harmless and even tongue-in-cheek approach to decentralized finance. Whether TAI can keep the dollar gains it has achieved this week is an open question.

$FARTCOIN posted an even stronger performance with an 11% gain, bringing its market cap to $925 million. A more consistent performer through both bull and bear cycles, the token is known for its silly branding even more than for its wild price swings.

Another notable mover is $POPCAT, which advanced 9.6% and now holds a market cap of $260 million. With a durable meme foundation and active community engagement, $POPCAT seems to be gaining momentum along with the broader Solana memecoin rally.

However, not everyone is savoring the current market activity—to put it mildly. Not only has some recent market movement been less-than-ideal for a good number of tokens, but the situation has also put many long-suffering holders of those tokens in a position to do some significant reeling. What follows is a brief overview of some of the major tokens that have fallen victim to the recent uptick in market volatility and the not-so-ideal price performance that a good number of them have exhibited during that period.

Maybe the most impressive drop of the day comes from $RFC (Retard Finder Coin). After just recently hitting a crazy milestone $100 million market cap, the token has collapsed by 45%, now sitting at a dubious $30 million—and still falling. This isn’t just a case of market rotation or fading hype; it’s a full-on sell-off.

Found on Stalkchain, a foremost decentralized platform for tracking and executing trades, are several DCA (dollar-cost averaging) sell orders. Three wallets have initiated sequential sell orders that, together, amount to $183,000—a significant sum for a token with a market as fragile as this one. These orders are open and continue to add pressure to the sell side, bringing down not just the price but also the confidence in the price.

In the past hour alone, seven distinct wallets have initiated DCA sell orders, collectively unloading $379,000 worth of RFC. Five wallets dumped 1.66 million RFC each, which comes out to around $58,000 per wallet. Meanwhile, two others are offloading 1 million and 1.2 million RFC tokens, respectively. With this level of organized selling, observers are increasingly worried that RFC’s valuation will keep collapsing unless the trend reverses right quick.

Today’s activity in the memecoin sector highlights the twofold nature of these highly unstable assets: enormous possible profits on one end, and equally humongous possible losses on the other. As Solana regains upward momentum, the memecoin’s new phase seems to be one of intensified speculation and volatility.

Volume trends, wallet behaviors, and order book depth serve as signals for the investor class to base decisions upon. This is especially true in the case of Solana, a blockchain where the signs are fast, cheap, and transparent to see. Some tokens are enjoying what seems to be an extended moment in the sun, while others are being tested under real sell pressure. The next 48 hours may well determine which ones rise and which ones vanish into meme history.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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