Solana’s Remarkable Price Rally
Solana (SOL) has become the focal point of crypto discussions on social media, experiencing a substantial price surge in the last week.
Top Trending Token
According to data from the crypto analytics platform Santiment, Solana claimed the top position as the trending token on November 13.
Impressive 42% Price Jump
Solana’s price has skyrocketed by 42% over the past seven days, soaring from approximately $40 to over $57. This remarkable upward movement has ignited a wave of social media activity, with enthusiasts engaging in discussions about the Solana blockchain and its native SOL token.
Solana currently holds a market cap of $24.12 billion, securing its place as the seventh-largest cryptocurrency, trailing just behind USDC. This valuation surpasses the market cap of notable entities such as Fujitsu ($24.16 billion) and Roblox ($23.96 billion).
According to Santiment data, 51.03% of the social media discussions about Solana in the past day have been positive. This positive sentiment reflects a strong community interest and support for Solana’s recent price gains. However, it is noteworthy that 33.19% of the social volume has been negative, likely influenced by concerns related to its fundamentals and its association with the defunct crypto exchange FTX.