The cryptocurrency Solana (SOL) has seen a significant increase in value, with a 1500% rise reported since this year, and is nearing a milestone of $200, up from $140 just five days ago to $195 right now. This surge is attributed to the growing popularity of memecoins within the Solana network. Memecoins, often considered a speculative investment, are gaining serious attention from various sectors including venture capitalists, asset managers, and even traditional financial analysts who are now conducting research reports on them. The enthusiasm for memecoins on Solana is not only drawing investors but also encouraging developers to build on the Solana network, with Layer 1 solutions promoting their growth. This trend is seen as a potential growth strategy for blockchain networks, aiming to attract retail investors and skeptics into the consumer chain. Despite the speculative nature of memecoins, their proliferation on Solana, with a staggering figure of 693847272 memecoins, is viewed by some as an indicator of broader trends in the cryptocurrency market.