Solana app revenues up 213% in Q4: Messari
Solana's Revenue Surge: Application revenues on the Solana network rose by 213% in Q4 2024, reaching $840 million, driven primarily by increased memecoin trading and speculation. Notable contributors included Pump.fun, Photon, and Raydium, all experiencing significant quarter-over-quarter growth.
Market Trends and Dominance: Memecoins now hold a market capitalization of approximately $130 billion, while Solana has become the leading blockchain for AI agents with a 56.48% market share. The total value locked in Solana reached $8.6 billion, making it the second-largest blockchain after Ethereum.
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Technical Analysis for MEME
Technical Sentiment Analysis for Memecoin (MEME) As of , Memecoin (MEME) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MEME stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, MEME is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Memecoin (MEME) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000267 | 0.000434 | 0.000603 | 0.00077 | 0.000939 | 0.00111 | 0.00128 |
| Fibonacci | 0.000434 | 0.000562 | 0.000642 | 0.00077 | 0.000898 | 0.000978 | 0.00111 |
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