I've done Europe solo. I've also done Japan and Egypt solo. Just stick to Hostels. If you end up in a hotel, you won't be able to meet anyone. Meeting people is what you have to do to have an enjoyable time. You can't be on your own the whole trip.
I've never done the couchsurfing thing, but as mentioned that could be an option as well.
Some European cities offer bike tours. I prefer these over walking tours. Way easier to get around, you can cover more of the city and get a lay of the land and you're with people that will likely be more in your age range.
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