Event: Solana officially announces its Chinese name as '索拉拉', marking its first formal brand naming for the Chinese market.
Time: October 20.
Market Reaction: Community enthusiasm is off the charts, and a similarly named Meme coin $索拉拉 appeared in a short time, with market capitalization skyrocketing within 24 hours, gaining traction on social platforms.
Current Market Situation:
SOL price is approximately 189.33 USD
24-hour rise of 2.02%
Market capitalization around 103.4 billion USD (6th globally)
Trading volume 5.88 billion USD
Market Fear and Greed Index 33 (Fear zone)
1️⃣ Brand Strategy: Official 'Chinese Name' = Market Signal
Solana’s announcement of '索拉拉' is not just a simple translation, but a strategic move to enter the Chinese market.
It signifies that Solana is starting to actively layout in the Chinese-speaking market, bridging relationships with Chinese users, developers, and investors.
Similar to past naming effects like 'Ethereum → 以太' or 'Binance → 币安', which are often accompanied by explosive ecological dissemination.
2️⃣ Community Effect: Chain Reaction of Same-Name Meme
Once the new name was released, it immediately spurred the on-chain '$索拉拉' Meme coin.
While the speculative nature of this derivative Meme is evident in the short term, it strongly stimulates the main chain's enthusiasm.
Past similar events (like Dogecoin, PEPE, Book of Meme) have driven short-term activity and TVL increases on the main chain.
3️⃣ Ecological Benefits Overlay
The Solana Foundation recently launched the SIMD-0266 proposal aimed at optimizing transaction throughput and efficiency.
Some exchanges have introduced SOL cooperative credit cards, enhancing the reality payment ecosystem.
Additionally, recent AI + GameFi projects are gradually returning to the Solana chain, making the upward trend in on-chain TVL evident.
📈 Short-Term Judgment:
If SOL breaks through the 200 USD mark, it can be seen as a signal of emotional breakthrough, targeting the range of 215~230 USD;
If it falls below the 175 USD support, it may retrace to the mid-support of 160~165 USD.
⚠️ Main Risks:
The hype around the Meme coin '$索拉拉' has bubble risks, and a sharp drop may temporarily cool the main chain's emotions.
Although the sentiment in the Chinese-speaking community is high, on-chain outflows show that some main forces are taking advantage of the situation to reduce positions. '索拉拉' ignites emotions, but the main upward wave still needs capital confirmation.
The enthusiasm is real, but don’t be misled by the Meme.
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