Solana Price Prediction: DEX Volumes Explode as Meme Coin Hype Comes Back

Published: January 07, 2026

Author: Alejandro Arrieche

Key Highlights

• Solana (SOL) has shown an 8% gain over the past week, recovering from a low of $120.
• Decentralized exchange (DEX) volumes have surged, driven by a resurgence in meme coins.
• For SOL to confirm a bullish trend, it must surpass the $160 resistance level.

Market Performance

Solana's price recently reached $140 but faced selling pressure, indicating a potential market correction. Despite this, SOL has rallied in 10 out of the last 12 trading days, bouncing off the $120 support level.

DEX Volume Surge

Trading volumes on Solana's DEXs have increased significantly, with a reported 39% weekly rise. This surge is attributed to the popularity of meme coins like Fartcoin (FARTCOIN) and Bonk (BONK), which have gained 50% and 80% respectively over the past week. The total market value of Solana's meme coins has exceeded $6 billion, with weekly trading volumes reaching $30 billion, a 25% increase from the previous week.

Transaction Activity

Despite the increase in DEX volumes, weekly transactions on the Solana network remain below previous highs, currently at 487 million, which is 40% lower than the peak of 816 million transactions recorded in late July. This suggests that while there is a recovery, it may not be sustainable without a significant increase in network activity.

Technical Analysis

Solana has broken out of a falling wedge pattern and is approaching the $160 resistance level, which coincides with the 200-day exponential moving average (EMA). The Relative Strength Index (RSI) has also shown bullish signals, indicating potential upward momentum. However, if SOL fails to break above $160, it may indicate that the current rally is merely a relief rally rather than the start of a new bull market.

Conclusion

In summary, while Solana has shown signs of recovery and increased trading activity, the sustainability of this trend will depend on whether it can break through key resistance levels and increase transaction volumes significantly. Investors should monitor these indicators closely to gauge the future direction of SOL's price.