• Solana (SOL) has emerged as one of the top winners in the crypto market after recording double-digit gains over the last week.
• Solana is now the 11th largest cryptocurrency, surpassing the likes of Shiba Inu, Polkadot, Litecoin, and DAI.
• The rise in the price of SOL is attributed to the popularity of the BONK meme coin and the recovery of the crypto market.

In the last week, Solana (SOL) has seen a surge in its price and has become one of the top performers in the crypto market. SOL has seen more green days than red in the last week and has now moved to the top of the most-viewed list on Coinmarketcap. On Monday, Solana was officially the most-viewed cryptocurrency on Coinmarketcap. This comes after SOL posted gains of more than 22% in a 24-hour period, pushing its price above $16 for the first time since November 2021 following the collapse of the FTX crypto exchange.

The rise in the price of SOL is attributed to the popularity of the BONK meme coin and the recovery of the crypto market. After falling to two-year lows, Solana had begun to see interest from investors once more when BONK, a meme coin based on the blockchain, went viral. SOL’s price grew quickly as the popularity of the BONK meme coin rose, which could become the first catalyst that pushed it above $10. With SOL already riding the wave of the BONK popularity, the crypto market recovery in the early hours of Monday was just an extra boost.

Given this, the coin emerged as the best performer so far among the top largest cryptocurrencies by market cap. Thanks to its recent gains, Solana has moved up a couple of spots and is now the 11th largest cryptocurrency. This means that in the last week, SOL has been able to surpass the likes of Shiba Inu, Polkadot, Litecoin, and DAI.

The surge in the price of SOL is a positive sign for the crypto market and could signal more gains in the coming weeks. Investors should keep an eye on SOL and other cryptocurrencies as there could be further gains ahead.