Is Solana (SOL) Truly Undervalued or Just Riding the Memecoin Wave?

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Solana’s divergence explained – Is <a href="https://minority-mindset.com/sol-usd/">SOL</a> undervalued or not?

If the price of an asset goes up despite weak underlying factors, it often suggests a positive outlook. Current data shows investors remain confident and are continuing to invest in the long-term success of the network. Temporary price drops are likely just caused by less confident investors selling, which can actually create an opportunity for prices to recover once the market calms down.

Considering this, it’s easy to see why Solana [SOL] could be following a similar path.

SOL has decreased by 31% in 2026, making it one of the worst-performing cryptocurrencies this year. Despite this price drop, the network is still very active, with significant investment continuing in growing areas like Real World Assets (RWAs), reaching record levels.

Solana’s decentralized finance (DeFi) platforms are thriving, recently reaching a record high of $80 million in total value locked (TVL). This growth is largely due to a significant increase in stablecoin deposits. Overall, TVL is a strong sign that investors are confident in Solana (SOL).

Lots of activity and increasing value locked in the network suggest people are confident in its future. This also indicates the token’s true value isn’t reflected in its current price, which often happens when it’s a good buy.

This raises the question of whether Solana (SOL) is currently undervalued. If it is, a recovery could happen when investors start feeling more confident and willing to take risks. However, a more detailed examination indicates that this optimistic outlook might be premature for Solana.

Speculative buzz returns to Solana amid memecoin mania

Memecoin performance is putting SOL’s market momentum to the test.

In the last month, memecoins have actually done better than Solana. The total value of memecoins decreased by 3.5% to $30.2 billion, but Solana’s value fell by a larger amount – 8.5% – over the same time.

Looking at on-chain data, I’m seeing a potential explanation for recent market activity. Dune Analytics shows that Solana-based meme launchpads are handling almost $100 million in daily trading volume. What’s interesting is that, on average, we’re seeing around 30,000 new tokens launching each day this week. This suggests a lot of activity and potentially high interest in new projects on Solana.

Put simply, the data highlighted the ongoing speculative frenzy on the network.

Adding to this growing pattern, Pippin [PIPPIN] saw its value more than double in just one week, reaching a market capitalization over $535 million. Meanwhile, established memecoins such as Dogecoin [DOGE] and Shiba Inu [SHIB] actually lost value.

So why is this important? Lots of trading in memecoins can actually be a negative sign, because people usually buy them hoping to make a quick profit. Because of this, the fact that Solana’s on-chain activity and price are moving in different directions might not be a typical sign that the price is going to go up.

This could suggest that worries about Solana are overshadowing its actual strengths. Because of this, the idea that Solana is currently worth less than it should be doesn’t hold as much weight, and it may be difficult for the price to recover to $100.

Final Summary

  • Solana’s on-chain activity, DeFi TVL, and capital inflows seemed to be illustrative of strong long-term investor conviction.
  • Surging Solana memecoins emphasize speculative trading, undermining the case for SOL being undervalued.

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2026-02-15 08:57