Solana Memecoins Are Teasing Bullish Reversals — Will SOL Price Rally?

Solana (SOL) memecoins are returning to form after undergoing massive crashes in recent months, indicating that SOL, the native token powering the memecoin ecosystem, will boom alongside.

TRUMP, BONK, WIF Post Impressive Price Rebounds

Almost all top-ranking Solana memecoins have posted impressive price rebounds in the past week, whether US President Donald Trump’s official token, Official Trump (TRUMP), or a Dogecoin-inspired Bonk (BONK) crypto.

The jumps appear alongside a rise in memecoin launches across Pump.fun, a Solana-based memecoin launchpad.

According to data resource Dune Analytics, the platform deployed over 34,000 tokens atop the Solana blockchain on March 24, rising from the daily deployment count witnessed earlier in the month.

Solana memecoins are rising primarily due to signs of recovering risk appetite, primarily after Trump’s limited tariff threats and the Federal Reserve’s dovish outlook in their March 19 meeting.

In markets, a risk-on environment means investors feel confident enough to invest in riskier assets, like tech stocks, small caps, and crypto. These assets are highly volatile but offer high upside, so they rally when sentiment is bullish.

Note that:

 

• Bitcoin institutional inflows into ETFs are returning.
• Despite recent weakness, ethereum is showing early signs of bottoming, and institutions are beginning to dip into ETH too (via spot ETFs and staking).
• Despite recent volatility, US stock markets remain in a broader uptrend, suggesting global investors aren’t risk-off yet.

 

Memecoins are the purest form of speculative assets. They have little to no intrinsic value and rely entirely on hype, momentum, and social media. Hence, they are showing a possible return of a risk-on sentiment.

Will SOL Price Boom, As Well?

Solana has a history of rising alongside its native memecoins, all for a simple logic: When memecoin activity surges on Solana, it drives higher demand for the network’s blockspace and SOL tokens used for transactions.

So, fundamentally, SOL is looking poised for a rally. The technical indicators, in the meantime, suggest the same.

SOL appears poised for a significant price move after breaking out of a falling wedge pattern — a technical formation typically viewed as a bullish reversal signal.

As of March 26, SOL is trading around $143.85, having successfully breached the wedge’s upper trendline on March 19 and sustained gains in the days following.

The breakout has opened the door to a potential rally toward $235, a level projected by adding the wedge’s maximum height to the breakout point. This would mark a 65% increase from current levels, assuming bullish momentum continues.

Supporting the bullish case, Solana’s Relative Strength Index (RSI) has climbed above 50, indicating growing buying pressure.

However, the price is now approaching resistance at the 50-day exponential moving average (EMA), currently near $154. A confirmed breakout above this EMA would further strengthen the upward outlook.

If SOL fails to clear the EMA resistance and reverses lower, it risks invalidating the bullish setup and returning to the wedge’s previous range. Until then, the structure remains favorable for a continuation move to the upside.