Finance

$RAY Token Soars 393% in 24 Hours: Solana’s Memecoin Makes Waves with Strong Buyback Support

9 hours ago
Bitcoin Ethereum News

In an astounding show of market momentum, 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.

The trusted token’s community has grown to 52,744 holders; even DeFi dad and $RAY skeptic @0xSanti appeared to be getting in on the action with a recent buy. What’s behind this price surge? It’s not just buy pressure from traders that is propelling the token upward. $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.

The recent surge in $RAY’s price has been accompanied by a new honor for the token: it’s now one of the top five on the Solana network with the highest decentralized exchange (DEX) buy volumes in the last 24 hours. This is no small feat for the asset, which has seen a staggering 150% pump in just four days. A breakdown of the next resistance and support levels will follow. For now, though, let’s enjoy the ride and take a closer look at how we should be perceiving this emerging Solana-based asset.

A Strategic $54 Million Buyback

The price of $RAY is not just rising because of market speculation and hype. It is also surging because @RaydiumProtocol has implemented an aggressive buyback program. In January 2025, Raydium spent a staggering $54 million buying back 8.8 million $RAY tokens. This buyback has probably been the largest in the history of the platform and shows a commitment to the half path tokenomics of $RAY as well as a substantial floor for the price of $RAY.

The buyback strategy has impacted the token’s price. The repurchase of the token has had an impressive effect and is making a big difference in the price action of the token.

This buyback strategy has had a significant impact on the token’s price, with the increased demand and reduced circulating supply contributing to the sharp rise in value. As more tokens are repurchased and taken off the market, the remaining supply of $RAY becomes more scarce, which can drive further price appreciation if demand continues to grow. This type of programmatic buyback is a common technique used by companies and token issuers to create upward pressure on their assets and reward long-term holders.

It is worth emphasizing that the $54 million allocated for buybacks has reached a new peak for Raydium when it comes to buyback spending on a monthly basis. It demonstrates the platform’s commitment to establishing a robust market for its token. And the token benefits not just from price stabilization as a result of the buybacks but also from the actual sign of confidence in its future that the buybacks represent.

Top DEX Tokens on Solana

Within the Solana ecosystem, $RAY ranks alongside the most heavily traded tokens on decentralized exchanges (DEXs) throughout the network. Across the DEXs in the past 24 hours, it ranked number one for buy volume, beating out other noted Solana-based assets, including $FARTCOIN, $SSE, $mSOL, and $ALPHA.

The top five tokens have had a recent blend of performances, with $FARTCOIN grabbing attention for its remarkable price fluctuations and the by-now predictable strategic buy-ins from major whales. However, in the DEX buy volume rankings, $RAY is making itself increasingly known and liked among traders and liquidity providers on Solana.

A token from the Tapestry Protocol, $SSE, and another from Marinade Finance, $mSOL, are also popular in the ecosystem, but $RAY’s 393% surge has catapulted it to the top of the leaderboard. As the Solana network continues to grow, these tokens—along with $RAY—are helping to reinforce the network as a serious contender in the world of decentralized finance (DeFi) and token-based ecosystems.

The Impact of a Strong Community and Network Support

The ascent of $RAY can equally be credited to the robust community it has attracted since launch. In just a short span, the number of holders has surged to 52,744, which speaks directly to the burgeoning interest around this token. Yet, what really distinguishes $RAY from many other Solana-based projects is the kind of community it has fostered. The Solana community (and beyond) has coalesced around $RAY, and the community’s pumped-up energy charge serves as $RAY’s primary fuel, both for its ascendant price trajectory and for the price moves we might expect in the near future.

The decentralized exchange protocol supporting the token, Raydium, is well-integrated into the larger Solana ecosystem, which supplies not just liquidity, but also a reach into other decentralized applications (dApps). The network’s speed and scalability are major user attractions and are further solidifying Solana as the go-to blockchain for DeFi applications.

Additionally, the progress of $RAY should be seen as part of a larger movement of projects built on Solana that are starting to achieve real-world success. As this decentralized push on the network becomes more pronounced, the role of $RAY within the Solana ecosystem is bound to increase. The interplay of solid network effects, well-planned buybacks, and a genuinely enthusiastic community sets $RAY up for a real shot at becoming a significant hit on the Solana blockchain.

Looking Ahead: Can $RAY Sustain Its Momentum?

Although $RAY’s price is undergoing an uptrend, maintaining that upward momentum remains to be seen. Why? Because 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).

Even so, the past 24 hours during which $RAY has performed remarkably, coupled with the fact that we have a well-funded, strategic buyback program in place, tells me that $RAY is not just another flash-in-the-pan token. 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.

Conclusion

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%. It should be no surprise that avid supporters of the token and the Raydium project are enjoying this latest development. Buying extras in the hopes of a further uptrend is something enthusiasts are likely to be engaging in, what with all this chart business being talked about. And for good reason, too: if you engage with the Solana DeFi landscape, things are looking quite bright (if you own $RAY, that is).

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: Vintage Tone/Shutterstock.com

Source: https://nulltx.com/ray-token-soars-393-in-24-hours-solanas-memecoin-makes-waves-with-strong-buyback-support/