President Donald Trump’s cryptic “Bela” post has spawned a bunch of memecoins, with Solana SOL/USD-based Bela rising 184% in 24 hours and a similar Solana DEX token surging 128%. The coins are linked to Trump’s meeting with Russian President Vladimir Putin and have been marked as “High Risk” by CoinMarketCap.
Solana’s SOL token surged past $200 for the first time since July, rising 23% weekly amid strong institutional buying [1]. The token’s price climbed 15.67% over the previous 24 hours to $201.22, with its weekly gain reaching over 23%. This performance outpaced the broader cryptocurrency market’s 4.2% rise, highlighting Solana’s growing appeal among investors.
A key catalyst for the rally was corporate activity involving Upexi Inc., a Nasdaq-listed consumer products firm. The company announced the formation of a Solana-focused advisory board led by BitMEX co-founder Arthur Hayes. Additionally, Upexi revealed it holds $316 million worth of SOL and plans to deepen its engagement with Solana-based projects [1]. This news sent its shares up 20% in pre-market trading.
Public companies now own approximately 8% of Solana’s available supply, creating a supply concentration that makes the token less accessible to other investors. This scarcity, coupled with speculation around potential U.S. regulatory approval for Solana-based investment vehicles, has fueled bullish sentiment [1].
The $200 level holds psychological significance for traders, serving as a key benchmark for momentum. Solana briefly reached $205.87 before retreating slightly, leaving investors in anticipation of whether the token can sustain its recent gains [3]. The price movement also followed a breakout from an ascending channel, with traders now closely watching for a sustained close above $200.
The rally aligns with a broader shift in investor interest toward alternative cryptocurrencies. Ethereum’s market share has fallen to its lowest level since December, while Solana has led the daily gains, outperforming Ethereum’s 7.9% rise [4]. Vincent Liu, chief investment officer at Kronos Research, described the move as “a key milestone” for Solana.
Market observers suggest that if Solana can maintain its upward momentum and confirm the breakout with strong volume, the next key resistance level could be $250. A sustained bullish trend might even see the token reach $300 in the long term [2].
Despite the positive short-term outlook, the market remains volatile. Sharp corrections could occur if macroeconomic conditions or sentiment shift. However, Solana’s performance reflects its position as a high-throughput blockchain platform, meeting growing demand for scalable solutions in decentralized finance and decentralized applications [4].
Additionally, memecoins linked to President Donald Trump’s meeting with Russian President Vladimir Putin have seen significant gains. The Solana SOL/USD-based Bela token rose 184% in 24 hours, while a similar Solana DEX token surged 128%. These coins have been marked as “High Risk” by CoinMarketCap [2].
References:
[1] Solana Crosses $200 as Institutional Buying Sparks Strong Rally (https://www.cryptotimes.io/2025/08/13/solana-crosses-200-as-institutional-buying-sparks-strong-rally/)
[2] Solana Could Skyrocket to $300 by 2026—Here’s What … (https://www.interactivecrypto.com/solana-could-skyrocket-to-300-by-2026heres-what-you-need-to-know)
[3] Solana price nears $200 after breakout from ascending … (https://tradersunion.com/news/cryptocurrency-news/show/434059-solana-breakout-from-ascending-channel/)
[4] Ethereum Inches From Record, Dogecoin Soars (https://stocktwits.com/news-articles/markets/cryptocurrency/ethereum-inches-from-record-dogecoin-soars/chrCBj9RdBU)
