“SOL hasn’t yet retested its all-time high from late 2021 ($250–260). The first major target is $250, the next $290–300, and the upper range could extend toward $350,” he noted.

From June 22 to August 29, SOL rallied nearly 70%, reaching $220 before sliding back to $200. By press time, the token had regained ground to $218, posting a 7% weekly increase.

SOL/USDT Hourly Chart
SOL/USDT Hourly Chart. Source: TradingView

Record TVL Boosts Momentum

Solana’s total value locked (TVL) surged to an all-time high of $12.2 billion, up 57% since June.

  • Raydium: +32% in one month

  • Jupiter: +24%

  • Jito: +18%

  • Sanctum: +20%

Solana TVL chart.
Solana TVL chart. Source: DeFi Llama

This growth cements Solana as the second-largest blockchain by TVL, trailing only Ethereum.

Solana is the second largest blockchain, behind only Ethereum
Source: DeFi Llama

Meme Coins Add Fuel

The ecosystem’s rally is also driven by a booming meme coin sector, where combined market cap jumped 70% in three months to $12.4 billion.

op 8 Largest Meme Coins by Market Cap on Solana
Top 8 Largest Meme Coins by Market Cap on Solana. Source: CoinGecko  

Top tokens saw 15–30% gains in the last 24 hours, while trading volumes on Solana-based DEXs spiked 73%, reaching $817 million.

The renewed buzz around meme coins has led to a surge in trading volume on the Solana DEX , which jumped 73% in 24 hours to $817 million.
Source: Blockworks Research

Analysts’ Price Targets

Market watchers increasingly expect Solana to challenge its all-time high of $293 from January.

  • Jussy: breaking above $220 could open a run toward $270.

  • Crypto General: SOL remains in a bullish trend since April, with $190 as key support.

    “The next target lies between $240 and $260. As long as demand holds, momentum stays intact.”

According to Glassnode, Solana “continues to outperform the broader crypto market.” Futures open interest has now surpassed $7 billion.

Glassnode analysts pointed out that “Solana continues to outperform the entire market.
Source: Glassnode

Technically, traders are eyeing resistance zones:

  • $220–$240: short-term breakout zone

  • $250–$260: historical ATH region

  • $290–$300: major target for bulls

  • Above $300: potential extension toward $350

Support remains strong near $190, which many consider a “must-hold” level to sustain the broader bullish trend.