The Layer-1 (L1) blockchain Solana has experienced a surge in activity due to the rising popularity of meme coins TRUMP and MELANIA. This surge has resulted in an all-time high in network fees and revenue. Solana's daily network fees reached $36 million, a 176% increase from the previous day, and the revenue derived from these fees reached $18 million, a 200% increase from the day before. However, the increased activity has led to sell-offs and a decline in SOL's price. Currently, SOL is trading at $263.69, down 10% from its peak price. Nevertheless, market sentiment has shifted, and future traders are starting to take long positions on the altcoin, indicating a potential upward trend and a revisit to its all-time high. However, if selling pressure intensifies, SOL's price could decline further toward $239.39.



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