Solana Spikes 20% to New ATH: Surpassing Dogecoin as Top 7 Crypto

It’s safe to say that SOL has been among the best performers in the past few weeks with consecutive new records. The latest one, which came just a few hours ago, has helped the asset to surpass Dogecoin in terms of market capitalization.

• Described as one of the fastest and rapidly growing blockchain platforms, Solana’s network has become a home for many of the most popular protocols today, including such from DeFi and NFT.
• The explosion of both industries has impacted the use cases of the underlying blockchain, and, somewhat expectedly, its native cryptocurrency has gone through the roof.
• Back on July 20th, SOL’s price had dipped to around $20. While most of the market has charted 50% to 100% gains since those lows, SOL has continuously outperformed almost all of them.
• It took the cryptocurrency just two weeks to double its value against the dollar, but it only kept climbing after that. This resulted in breaking above $100 for the first time in late August.
• While this was a whopping 400% increase in six weeks, SOL didn’t stop there. In the past 24 hours came the latest record – this time at above $140.
• It means that SOL is up by 600% since July 20th. What’s even more impressive is the token’s surge since the start of the year.
• It entered 2021 at around $1.5 – meaning that it has exploded by more than 9,000% YTD.
• Aside from breaking above $140 for the first time, the latest record brought another significant milestone. SOL became the seventh-largest cryptocurrency by market cap (over $40 billion). Thus, it surpassed the popular meme token – Dogecoin.

SOLUSD. Source: TradingView