Solana's native token, SOL, surged 61.5% from November 5 to November 22, reaching $263, amid broader altcoin gains. This rally coincided with significant activity in the Solana network, particularly in decentralized exchange (DEX) trading volumes, which hit over $100 billion for November 2024—nearly double Ethereum's $55 billion. The daily DEX volume peaked at $7.14 billion and the weekly at $41.6 billion, marking an all-time high. Analysts attribute this growth to a rise in memecoins and user-friendly platforms on the network. Active addresses in Solana reached nearly 25 million in November, bolstering its position as a leading chain in DEX volumes. Technically, SOL's price shows bullish potential, aiming for a target of $300, despite indications of slightly overbought conditions that could lead to a correction to $200. These developments highlight Solana's strong onchain metrics and market dynamics, suggesting further upside for SOL.

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