Solana (SOL) continues to be the darling of institutional investors, with significant gains in the last 48 hours. The recent price movements have led to bullish predictions of an upward trend, with a potential reversal and change in market sentiment. SOL's price is currently 38% below its all-time high of $260, reached on November 6, 2021, but recent gains have seen it surpass $164 before a correction.

Solana's market value has reached a massive $71.3 billion, with a 4% increase in the last 24 hours, surpassing BNB. The 24-hour daily trading volume has also seen a significant increase of 31% to $3.9 billion, with a weekly price increase of 5%. The monthly price increase of 15% has led to a stronger rally within the community, with the total locked value (TVL) on SOL's DeFi platforms marking $4.42 billion after a 7.83% increase.

Solana meme coins have also seen a significant increase of 6.4% in the last 24 hours, with a market value of over $7.5 billion. The entry of new tokens into the market is driving the upward trend, providing substantial gains in daily transactions. However, investors should be aware that these assets are extremely risky cryptocurrencies.

The current price outlook of SOL still seems far from its all-time high, but crypto bulls are highlighting the Solana meme coin craze and a potential rate cut by the Federal Reserve as factors that could trigger a move towards a new resistance level for SOL. With institutional investors driving the price surge, Solana is definitely a cryptocurrency to watch in the coming days.