Solana Price News: Can BONK, PUMP, and PENGU Hype Push SOL to $190?

Solana (SOL) has booked a 10% gain in the past 7 days as its meme coin ecosystem seems to be thriving and capturing more and more eyeballs, and pockets, every week.

Unexpectedly, Pudgy Penguins (PENGU) is now leading the race to become the first meme to get its own exchange-traded fund (ETF) in the United States after the U.S. Securities and Exchange Commission (SEC) acknowledged Canary Capital’s application for this vehicle.

PENGU has more than doubled its price in just 7 days amid the news and has jumped to the 5th place in the list of most valuable meme coins, already surpassing Official Trump (TRUMP) by nearly $100 million.

Pump.Fun Launches ICO and $PUMP Gets Picked Up by Top Exchanges

Pump.fun recently conducted a successful initial coin offering (ICO) through which it raised $500 million in just a few minutes through the sale of $PUMP.

Solana Official X Account – Source: X.com

This token is already the 44th largest cryptocurrency with a market cap of $2.2 billion while its trading volumes in the past 24 hours have reached nearly $1.3 billion.

Top centralized exchanges (CEXs) have rushed to list PUMP immediately. The list includes OKX, Coinbase, Bitget, and Crypto.com.

Finally, Bonk (BONK), the top Solana meme coin by market cap, has more than doubled in the past month following the launch of LetsBonk – a meme coin launchpad that comes to expand this project’s ecosystem further.

Solana DEX Volumes Rise by 51%

Data from DeFi Llama shows that trading volumes across Solana DEXs have jumped by 51% in the past week alone.

Solana Weekly DEX Volumes – Source: DeFi Llama

Higher demand for Solana meme coins as a result of these important developments could help catalyze SOL’s next big move.

Trading volumes for SOL have jumped by 10% in the past 24 hours following the launch of PUMP across multiple DEXs and BONK’s strong 19% rally during this period.

Looking at the daily chart, the 9-day exponential moving average (EMA) for SOL has made a ‘golden cross’ upon crossing above the 200-day EMA.

SOL/USD Daily Chart (Coinbase) – Source: TradingView

The price action has now entered a tight range between this indicator and a key area of support at $170 that could soon be broken if bullish momentum continues to gain traction.

If that breakout occurs, the next stop for SOL would be the $190 and every technical and ecosystem driver is in its right place to get beyond that figure.

Momentum across the meme coin space is quite high, trading volumes are above the average for the token, the Relative Strength Index (RSI) is on an uptrend and already way past the mid-line, and short-term EMAs seem poised to make a bullish crossover above the 200-day EMA.

Is This Latest ‘Golden Cross’ The Real Deal?

The last time in this cycle that we saw a ‘golden cross’ between short-term and long-term EMAs it turned out to be a fake-out. However, market conditions were different at that point amid the uncertainty caused by Trump’s aggressive trade policies and tensions in the Middle East.

This week is an important one for the crypto world as major bills like the Genius Act are being discussed in Congress.

President Trump said he brokered a deal with the remaining factions of the Republican party that were opposing the approval of this important piece of legislation. Its passing could add additional fuel to the fire to ignite this rally’s next leg up.

Bitcoin has already made multiple new all-time highs lately, it may be altcoins’ turn to start surging to new records.