Solana DApp activity continues to grow, memecoin market undergoes short-term adjustment

The price of Solana ($SOL) fluctuated around $210, but its resilience was demonstrated thanks to the continuous growth of DApp activity. Despite a 18% drop in price after March 18th, Solana quickly rebounded to over $165, with market expectations both bullish and bearish. As demand increased, transaction fees rose and the number of failed transactions also increased accordingly, especially during periods of surging memecoin trading.

After Ethereum's Dencun upgrade, Solana's memecoin market seemed to experience short-term weakness, with prices for WIF and BONK falling by 38% and 40%, respectively. However, looking at the overall trend, Solana still benefited greatly as both DApp transaction volume and active address numbers showed significant growth trends.