Solana DApp activity continues to grow, while the memecoin market experiences a short-term adjustment

ChainCatcher news, Cointelegraph reported on social media analysis that Solana ($SOL) price fluctuated around $210, but showed resilience thanks to the continued growth of DApp activity. Although the price dropped by 18% after March 18, Solana quickly rebounded to above $165, with the market having both bullish and bearish expectations.

As demand increases, transaction fees have risen, and the number of transaction failures has also correspondingly increased, especially during periods of surging memecoin trading. After the Dencun upgrade on Ethereum, Solana's memecoin market seems to have experienced a short-term weakness, with the prices of WIF and BONK dropping by 38% and 40%, respectively.

However, from an overall trend perspective, Solana continues to benefit significantly, with both DApp transaction volume and the number of active addresses showing a clear upward trend.