Solana active addresses hit 17M as Pump.fun ICO nears
Solana has hit a new milestone in network usage, with daily active addresses surpassing 17 million.
The surge in activity comes as anticipation builds for the upcoming PumpFun ICO on July 12, a meme coin launchpad built on the Solana blockchain. This heightened engagement has coincided with a renewed bullish outlook for SOL and PUMP token listing on major exchanges, СoinGape reported.
As of publication, SOL is trading at $163, up 3% in the past 24 hours, with analysts forecasting a potential rally of 30%, which could take the token above $210 in the near term.
Technical setup signals breakout potential
According to technical analysis, SOL schedule forms rounding bottom, a bullish formation often associated with trend reversals and sustained upward momentum. If the breakout continues as projected, Solana’s price could target $216, driven by both technical factors and growing demand from users engaging with ecosystem projects such as PumpFun.
The token sale, combined with heightened user interest, is contributing to increased trading volume and on-chain activity — both viewed as strong indicators of organic growth and investor optimism.
Traders eye new highs as momentum builds
The confluence of rising address activity, crypto rally, technical strength, and ecosystem expansion paints a promising picture for Solana in the short term. The upcoming weekend, coinciding with the PumpFun ICO, is expected to be particularly active, with potential for increased volatility and price discovery.
Solana continues to position itself as a high-performance blockchain known for low fees and fast transactions, making it an attractive option for developers and traders alike.
Read also: Bullish exchange moves core infrastructure to Solana.
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