Solana's native token, SOL, saw a significant surge, gaining 12.1% between October 11 and October 18, largely attributed to the rising popularity of memecoins. The uptick in Solana network activity indicates increased trading volume, fees, and total value locked (TVL). While there is skepticism about the sustainability of the memecoin trend, social media has played a pivotal role in directing attention to these tokens, exemplified by the GOAT memecoin's rapid rise fueled by a viral post. Additionally, Solana experienced a substantial increase in TVL, reaching a two-year high of nearly 41 million SOL, outpacing Ethereum and BNB Chain in growth. These metrics reflect Solana's competitive positioning, bolstered by a 43% increase in decentralized exchange volumes, overtaking Ethereum despite its typically lower transaction fees. The future trajectory of SOL is uncertain, but the prevailing data supports the possibility of it reaching the $180 mark as network engagement continues to evolve across sectors like AI and gaming.

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