Cryptocurrency Markets Surge 8.28%: Solana and Shiba Inu Lead Rally

• Solana (SOL) surged by as much as 30% on Saturday, hitting its strongest point since November.
• Shiba Inu (SHIB) was also a notable gainer, rising by over 10% and hitting its highest level since early November.
• Cryptocurrency markets were significantly bullish to start the weekend, with the global market cap 8.28% higher as of writing.

The weekend brought positive news for cryptocurrency investors, as the global market cap rose 8.28% as of writing. This was driven by a number of tokens, which enjoyed significant gains over the two-day period.

Solana (SOL) was one of the biggest movers to start the weekend, with prices skyrocketing by as much as 30%. Prices surged to an intraday high of $22.37 following a low of $16.52, resulting in the token hitting its strongest point since November 9, when price was at a top of $24.60. The move appears to have been driven by a break out of a resistance point on the 14-day relative strength (RSI), which moved above a ceiling at the 80.00 level.

Shiba Inu (SHIB) was another token to enjoy significant gains. SHIB/USD climbed to a peak of $0.00001081, after ending the working week at a low of $0.000009462. This resulted in prices hitting its highest level since early November, and was the third consecutive session of gains, with the token now up 24% in the last seven days. However, the rally appears to have cooled off after the RSI failed to break out of its long-term resistance point at the 80.00 mark.

Overall, it was a significantly bullish start to the weekend for cryptocurrency markets, with a number of tokens enjoying significant gains. Solana and Shiba Inu were two of the biggest movers, with both tokens hitting their strongest points since November. As of writing, the global market cap was 8.28% higher, with the bullish sentiment likely to continue into the week ahead.