SEI, Solana, and Dogecoin Lead Crypto Surge on DeFi Growth, Memecoin Frenzy, and Institutional Interest

The cryptocurrency market is experiencing renewed momentum as SEI, Solana (SOL), and Dogecoin (DOGE) post significant gains. SEI has attracted notable trader attention, driven by a sharp rise in DeFi total value locked (TVL), now reaching $500 million. Its strategic push for Ethereum compatibility and the forthcoming GIGA upgrade—which could deliver up to 50x EVM throughput—have reinforced investor optimism. Institutional interest is also rising, evidenced by a staked SEI ETF application, pushing SEI’s price up over 80% since early April to hover near $0.25. Solana has rebounded robustly, propelled by explosive gains in Solana-based memecoins like MOODENG, PNUT, and BONK, with MOODENG rising 212% in a week. The total Solana memecoin market cap is now above $12 billion, fueling demand for SOL and lifting its price up to $175, with immediate resistance near $185. Trading volumes remain high due to Solana’s low fees and fast throughput. Dogecoin has surged more than 33% this week, breaking out above $0.22 following whale accumulation, revived meme sentiment, and anticipation of Elon Musk-related momentum. DOGE is targeting $0.31 based on technical patterns, but traders should watch for overbought signals and resistance levels. Across the market, overall stabilization is evident, with rising DeFi activity, memecoin speculation, and increasing institutional participation driving a risk-on narrative. However, traders are cautioned to monitor potential overextensions and macroeconomic triggers that could impact short-term direction.