As the broader crypto market enters a correction phase, meme coins on the Solana network have largely cooled off, with most tokens seeing sharp price declines. Yet amid the downturn, an emerging project has quietly gained momentum, surpassing a $100 million market cap and capturing the spotlight.
Defying the Trend: A Standout Performer Emerges
Data shows the token rose 18% in the past 24 hours, trading near $0.104. Its on-chain activity has surged, with rising wallet inflows and transaction volume, signaling strong market support despite the bearish sentiment across the ecosystem.
- SPSC: Gained 7.5%, holding steady at a $14.5M valuation, with growing community traction;
- SOL (PUMP live-streaming meme): Fueled by livestream hype and airdrop speculation, jumped 80% in a day, nearing a $6M market cap;
- Several early-stage meme projects saw capital flight, with some dropping over 40%.
The Risks Behind the Hype
While select tokens shine, analysts warn that meme coins are inherently speculative, driven by sentiment rather than fundamentals. Rapid price surges often precede steep pullbacks, especially in low-liquidity, small-cap assets.
As market enthusiasm cools, investors are advised to focus on on-chain metrics and long-term viability rather than short-term trends. In such volatile conditions, prudent position sizing and risk management are critical.