TROLL (TROLL), a meme coin built on the Solana (SOL) blockchain, has shocked the crypto market with a dramatic 210% price increase over the past week. After several months of relatively quiet trading, the coin has suddenly soared to an all-time high of $0.106, pushing its market cap beyond $100 million before settling at $93 million.

TROLL is inspired by internet ‘troll’ culture and is part of the meme coin segment that often sees rapid and speculative price movements. While it had been trading sideways since its launch 3.5 months ago, a late-July breakout triggered a wave of interest and activity, marking the beginning of its current bullish run.

At the time of writing, the token is priced at $0.093, with nearly 999 million TROLL tokens in circulation.

Huge Returns: One Trader’s 109x Windfall

TROLL’s massive rally has already created a crypto success story. According to on-chain data from Lookonchain, one trader purchased 27.86 million TROLL tokens for $22,800 just a few months ago.

They later sold 1.28 million tokens for around $16,200, recovering a large portion of their initial investment. Despite that, they still hold 26.57 million TROLL, which is now worth approximately $2.48 million.

This translates to a 109x return, a rare feat even in the volatile world of meme coins. As the trader’s profit exceeds $2.45 million, this event has drawn significant attention across crypto forums and trading circles.

Bullish Momentum: Volume, Holders, and Market Cap Climb

The TROLL rally appears to be supported by strong on-chain fundamentals. According to data from Solscan, the coin is seeing rising trading volume on decentralised exchanges (DEXs) along with increased token transfers, both of which suggest higher investor interest and growing liquidity.

At press time, TROLL has 28,836 holders, with the top 10 addresses controlling 16.1% of the total circulating supply. While this level of concentration might raise centralisation concerns, it is not unusual in the early phases of meme coin development.

A crypto analyst commented on the price action, stating, “From a long, boring base to a vertical send, this is how conviction plays reward the patient. Volume’s up, and market cap’s pushing for new ATH. Next stop? Price discovery.”

The statement reflects growing market sentiment that the coin could continue upward if momentum persists.

Solana Meme Coin Wave Resurfaces

TROLL’s rise is part of a broader revival in the Solana meme coin market. After a period of decline, meme coins on the Solana network are once again gaining traction.

Recent data from Dune Analytics shows that the number of newly launched tokens on Solana is climbing steadily. This uptick follows a shift in market dynamics, with LetsBonk now leading meme coin activity on Solana, capturing over 60% market share. This marks a change from earlier months, where Pump.Fun was the dominant player.

As a whole, the meme coin market’s total capitalisation has seen a modest gain of 3%, bringing it to around $72 billion. This suggests renewed investor confidence and speculative interest in meme coins, especially those tied to rising blockchains like Solana.

Hype or a Turning Point?

While meme coins often carry significant risk due to their speculative nature, the TROLL token’s recent performance illustrates how quickly fortunes can change in crypto. Whether this is a short-lived rally or the beginning of a longer trend remains to be seen.

For now, TROLL has captured the spotlight and possibly signalled that the Solana meme coin wave is making a comeback. Traders should approach with caution, but the opportunity for outsized returns clearly remains alive in the meme coin space.