Solana submerged below the $100, but the rise in memecoin minting and integrations of Polymarket keeps the prices afloat.
As the geopolitical tensions aggravate and the bearish sentiment spreads across the crypto market, Solana crashed below $100. SOL lost this psychological support level, which, when lost, deters the investors away. However, the ecosystem’s strong fundamentals paid off and helped the prices once again rise to the three digit level, increasing the confidence of the investors in the ecosystem.
The active address on the ecosystem spiked up from 2.9 million in early January 2026 to 5.8 million by the end of January. This rise in active wallet addresses shows that the traders are transacting, swapping, minting, and interacting with dApps. These traders are probably interacting with DEXs (Serum, Raydium, Jupiter, etc.).
The active address spiked up as the memecoin minting activity increased drastically. The memecoin launches on Solana hit a total of 44.5K, and there were more than 38.7K coins created on Pump.fun launchpad, which is around 87% of the total coin creation. However, after reaching this pinnacle, the coin creation has dropped to 38.7K.
In addition to this, Jupiter, the decentralized exchange that functions on Solana, made a collaboration with Polymarket, a prediction market. Jupiter stated on X, “Integrating Polymarket is primed for making Jupiter the most innovative predictions platform on Solana.”
The prevailing market conditions were so bad that Solana crashed below the $100 level. However, as the network had strong fundamentals, it was able once again get back above the $100 price level.
Priced at $103 at the time of writing, the coin has the potential to hit values above $180. Historically, this support level has acted as a launching pad for catapulting the SOL prices above $180. As such, even this around Solana could be aiming at this range.
The Relative Strength Index, which was facing downwards, has now changed its direction, showing that SOL is on the right track. Given that Solana makes full use of the momentum it got started, it would be first met with resistance at the 50-day moving average at $129.
