Solana Meme Coins BONK and WIF Mark Significant Price Increase

By: Isha Das

Solana's meme coins, BONK and Dogwifhat (WIF), have showcased significant gains over the past day. BONK exhibited a 35% increase, whereas WIF saw a 19% hike. These coins are now among the top gainers among the top 100 cryptocurrencies. This remarkable performance is linked to the recent improvements in the Solana network's efficiency.

Solana had been suffering from congestion issues which were resolved recently, restoring block production and transaction confirmations to normal. This resolution has acted as a springboard for the Solana-based meme coins. On the 15th of April, Solana had also released updates to tackle these congestion issues.

WIF experienced a 24-hour high of $3.43 due to a commendable 96% increase in trading volumes. Notably, it broke out from the resistance level of $3.18 after a week of sideways trading. Meanwhile, BONK registered a dramatic 35% rise supported greatly by its inclusion on the global neobank Revolut's trading list. The price action indicated strong buying potential and bullish market momentum.