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$RAY Token Soars 393% in 24 Hours: Solana’s Memecoin Makes Waves with Strong Buyback Support
- Solana’s memecoin, $RAY, has undergone a nearly 400% price pump in the past day, and is now the number one degenfi.ai gainer by a wide margin.
- $RAY’s backing entity, @RaydiumProtocol, has been undertaking liquidity maneuvers to keep the token from falling, and these very buybacks and support measures are in the white paper guide for making a liquidity.
- In January 2025, Raydium spent a staggering $54 million buying back 8.8 million $RAY tokens.
- $RAY is also one of the top five on the Solana network with the highest decentralized exchange (DEX) buy volumes in the last 24 hours.
- The ascent of $RAY can equally be credited to the robust community it has attracted since launch.
- The decentralized exchange protocol supporting the token, Raydium, is well-integrated into the larger Solana ecosystem.
- As this decentralized push on the network becomes more pronounced, the role of $RAY within the Solana ecosystem is bound to increase.
- Upward price movements (aka rallies) are often sustained when there is (1) A REASON TO RALLY (like a strong support level, which we have in the form of a buyback program); (2) CONTINUED DEMAND (that could mean buying or not selling when the token is in the hands of traders and investors); and (3) A BROAD CRYPTO MARKET THAT IS HOLDING UP (which has been the case recently).
- The continued efforts by Raydium to secure the value of our token and the growing interest of the community make me think that the future of $RAY in the Solana ecosystem is potentially very bright indeed.
- The Solana ecosystem has seen its latest favourite in the $RAY token, which has emerged as the surprising top gainer of the past few days with its 24-hour surge of 393.46%.
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