“LandWolf, Moo Deng Soar as Solana DEX Volume Hits New Highs”

Meme coins on the Solana network have surged as the crypto fear and greed index nears the greed territory, hitting 60.

LandWolf (WOLF) and Moo Deng (MOODENG) emerged as the top performers, climbing over 112% and 56%, respectively, on September 27. WOLF has experienced a remarkable increase of over 390% from its lowest point this month, elevating its market cap to more than $38 million.

Moo Deng has outperformed, soaring by an astonishing 1,800% from its low in September, with its valuation approaching $200 million.

Further, other well-known Solana (SOL) meme coins have enjoyed double-digit increases recently. Popcat (POPCAT) notably surged, pushing its market cap over the $1 billion mark for the first time.

This surge in performance aligns with a more positive sentiment within the broader crypto market. Bitcoin rebounded from its September low of $52,000 to surpass $65,000, while the crypto fear and greed index climbed from the fear zone of 34 to 56.

During bullish trends, meme coins frequently outperform more established large-cap coins like Bitcoin and Ethereum, largely due to their lower price points.

Moreover, recent data reveals a more than 32% increase in Solana’s decentralized exchange volume, reaching $6.3 billion in the past week, fueled mainly by platforms such as Raydium, Orca, Phoenix, and Lifinity.

According to Solscan, a significant number of investors have acquired Moo Deng and LandWolf, driving their daily volume higher. LandWolf boasts over 45,000 holders, while Moo Deng has attracted more than 20,000 holders.

LookOnChain spotlighted one Moo Deng holder who turned $1,331 into $3.4 million in just 15 days. Another trader bought the token when its market cap stood at $70,000, yielding nearly $392,000 in profit. Such stories often create a fear of missing out (FOMO), leading to dramatic price increases.