5 Tokens That Trail SOL: Rising When It Rises, Falling When It Falls
Solana (SOL) has become one of the brightest stars in the crypto universe, especially after pulling off a strong comeback from some pretty rough patches.
But what really makes SOL even more interesting isn’t just its solo performance—it’s the ripple effect it creates across other tokens that live and thrive in its ecosystem.
From viral meme-coins to sophisticated DeFi protocols, a handful of tokens tend to move in sync with SOL. When SOL goes on a run, they sprint. And when SOL takes a tumble… well, they usually go down harder.
Quick Facts You Need to Know
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BONK: Solana’s go-to meme-coin, highly reactive to SOL pumps—once surged 1,400% while SOL rose 400%.
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Serum (SRM): The OG order-book DEX; trading activity and governance closely tied to SOL’s momentum.
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Raydium (RAY): Solana’s top DEX by volume; price moves almost in sync with SOL.
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Saber (SBR): Stable-swap protocol; mirrors SOL’s volatility and DeFi trends.
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Orca (ORCA): Beginner-friendly DEX; often rises with SOL due to integrated liquidity and dApp adoption.
Let’s break it all down. Not just the surface-level stuff, but the tech, the price correlation, and what it all means if you’re an investor, a trader, or just curious about how these coins are linked.
1. BONK – The Meme-Coin of the People
When SOL Pumps, BONK Goes Wild
BONK isn’t just another meme-coin trying to ride the hype train. It was born from the Solana community itself, with branding that’s fun, friendly, and full of that underdog energy Gen-Z loves.
But don’t let the cuteness fool you—BONK has some seriously wild price action. When SOL rocketed from $20 to $100 in late 2023 (a 400% increase), BONK didn’t just follow… it exploded from $0.000002 to $0.000030.
That’s a 1,400% jump. Imagine grabbing a million BONK and turning it into a semester’s worth of pocket money.
Why So Crazy?
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Extreme Volatility: BONK is super sensitive to SOL’s momentum. If SOL pumps, BONK often flies higher. But if SOL dips, BONK usually crashes harder. Classic high-risk, high-reward.
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Massive Liquidity: Trading volume often hits hundreds of millions of dollars per day, making it easy to get in and out.
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Hype-Driven: Its price is heavily influenced by sentiment—whether it’s listings on big exchanges, Twitter buzz, or general crypto vibes.
BONK is the perfect example of how “sentiment is king” in crypto. You could make huge gains, but you’ll need nerves of steel.
2. Serum (SRM) – Solana’s On-Chain Order-Book OG
The First Order-Book DEX on Solana
Serum was the first decentralized exchange on Solana that offered an on-chain order-book. That’s different from AMMs like Uniswap—it lets users place buy/sell orders like on centralized exchanges, but everything still runs on-chain.
Why SRM Still Matters
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Fee Discounts & Staking: Holding SRM means up to 60% off trading fees. Plus, staking rewards rise when Solana’s activity surges.
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Active Governance: When SOL is buzzing, Serum’s community is usually pushing proposals and voting on protocol upgrades.
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Resilient Post-FTX: Serum took a hit during the FTX fallout (FTX was a major backer), but the community forked it into OpenBook. Even after the drama, its price movements still closely mirror SOL.
SRM might not be the flashiest token anymore, but it’s part of the foundation that helped DeFi on Solana take off. And its bond with SOL is still strong.
3. Raydium (RAY) – The DEX Powerhouse of Solana
Leading in Volume, Leading in Influence
Raydium is probably the most well-known DEX on Solana. It doesn’t just have its own liquidity pools—it also hooks directly into Serum. That gives it a hybrid edge, combining AMM simplicity with order-book precision.
Why RAY Follows SOL So Closely
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Liquidity Dominance: As SOL activity ramps up, Raydium’s volume explodes. More swaps, more fees, more attention.
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Strong Price Correlation: Data shows RAY and SOL move almost hand-in-hand—like they’re dancing to the same beat.
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Hype Momentum: When SOL pumps, RAY often follows within hours. That makes RAY a solid play for people looking to ride SOL’s wave from a different angle.
Raydium proves that a great DEX isn’t just about cheaper trades—it’s about being plugged into the pulse of an entire ecosystem.
4. Saber (SBR) – The Stable-Swap Pro That Mirrors SOL
Built for Stable Assets
Saber specializes in swapping assets that are supposed to be stable—like different flavors of stablecoins or wrapped tokens (think wrapped SOL). It’s designed to be the go-to AMM for pegged assets.
Why It Moves with SOL
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DeFi Correlation: If Solana’s network gets congested or goes down, Saber’s activity tanks. But when things are smooth and SOL rallies, Saber gets busy again.
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LP Revenue Boost: More SOL activity = more swaps = higher fees for Saber’s liquidity providers.
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TVL & Governance Growth: Saber’s total value locked (TVL) climbs when SOL pumps. Its native token, SBR, is also used in protocol decisions.
Saber might not be as flashy as some other projects, but it’s critical to the health and stability of Solana’s DeFi infrastructure.
5. Orca (ORCA) – The User-Friendly DEX That Just Works
DeFi Without the Headache
Orca is designed for people who want to use DeFi without feeling like they need a computer science degree.
Its clean UI and smooth UX make it a favorite among casual users—and many dApps use Orca under the hood as a liquidity source.
Why ORCA and SOL Are Synchronized
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Price Parallels: ORCA often rises when SOL does. That’s because Orca’s liquidity is heavily based on SOL pairs.
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Liquidity Dependency: Most Orca pools are paired with SOL, so any shift in SOL’s price or usage directly impacts Orca’s market depth.
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Dev Adoption: Tons of new dApps in the Solana ecosystem integrate Orca, which boosts usage and token demand whenever SOL sees growth.
Orca is like the friendly front door to Solana DeFi. But don’t be fooled by its simplicity—it’s deeply tied to SOL’s fate.
Final Thoughts – It’s Not Just Copycat Behavior, It’s an Ecosystem
The relationship between SOL and these tokens isn’t just hype-driven. They’re intertwined through shared infrastructure, liquidity, and user activity. Together, they form the beating heart of Solana’s expanding universe.
If you’re planning your next investment move, understanding these correlations is a must. Yes, they offer potential arbitrage and early signals, but they also come with high volatility.
Do your homework. Manage your risks. Don’t just chase trends—follow the data.
Solana’s ecosystem isn’t just a single token—it’s a living network. And BONK, SRM, RAY, SBR, and ORCA? They’re the planets orbiting its sun. Sometimes stable, sometimes chaotic, but always fascinating to watch.
Frequently Asked Questions (FAQs)
Do these correlations always stay positive?
Mostly yes. When SOL pumps, these five usually rise too. But during corrections, they can drop just as fast—or faster.
How can I monitor these correlations?
Use correlation calculators or check SOL↔token conversion tables on CoinCodex or CoinMarketCap.
Are all Solana-based tokens equally affected?
Nope. The ones that show strong correlation are deeply tied to Solana’s infrastructure (DEXs, AMMs, governance tokens).
How can I reduce correlation risk?
Diversify into lower-correlation assets like Bitcoin or stablecoins, and consider using stop-loss strategies.
Do meme-coins always outperform during rallies?
Not always. BONK once outpaced SOL big-time, but in other cycles, meme-coins lag when hype cools off.