- The trading volume of the memecoins was over $1.6 billion at press time.
SOL’s trend remains bullish.
As a seasoned crypto investor with a knack for spotting trends and making strategic moves, I must say the recent surge of Solana-based memecoins has piqued my interest. The impressive gains these assets have posted over the past week are nothing short of remarkable. In fact, I’ve had to take a second look at my portfolio to ensure I haven’t missed out on this golden opportunity!
This week, memecoins built on the Solana platform have been attracting noticeable interest. Multiple assets experienced substantial growth. Towards the end of the week, Solana’s total market value inched up slightly, while SOL closed the week on an optimistic note.
Solana memecoins post strong gains
As reported by CoinGecko, the combined worth of Solana’s meme tokens is a substantial $8.6 billion, underscoring their considerable importance within the Solana network.
In simpler terms, the essential elements within this group finished the week with gains, which boosted the total market value.
In an impressive surge over the last week, Dogwithit (WIF) has seen a 33% increase and is currently valued at approximately $2.28. Among Solana-based meme coins, it boasts the largest market capitalization, exceeding $2.2 billion.
Following closely in line is Bonk (BONK), the second most valuable meme coin by market capitalization, with a value exceeding $1.6 billion. The price of BONK has skyrocketed by more than 30%, currently being exchanged at approximately 0.000023 dollars.
Last week, Moo Deng experienced an unprecedented surge, increasing more than four times its original value in merely seven days. Currently, it’s being traded at $0.24 per share, and its market cap stands impressively above $241 million.
Solana volume sees slight uptick
Although Solana’s memecoins experienced a surge in price, the overall network volume did not see the same drastic spike. However, a slight increase was observed, according to data from DefiLlama.
This week’s trading volume has consistently been over a billion dollars, or very near to it, representing an upgrade compared to past volumes.
Moreover, in the last seven days, Solana’s Total Value Locked (TVL) has seen a slight increase, climbing from $5 billion to more than $5.4 billion.
SOL shows steady growth
In the past week, Solana has experienced a 7% rise, placing it as the third-best performer among significant cryptocurrencies, based on CoinMarketCap’s data. At the moment, Solana is being traded at $155.38, but there has been a slight dip of 0.89%.
Based on the technical analysis, there’s a positive short-term trend, as the price remains above crucial moving averages, indicating a potential increase in the market.
Read Solana (SOL) Price Prediction 2024-25
As a researcher examining market trends, I’ve noticed that the 50-day moving average hovers around $141.74, while the 200-day moving average stands at $154.66. This suggests a possible continuation of upward momentum. Yet, for any potential breakout to be sustained, we need increased trading volume to reinforce this positive trajectory.
Read More
- DOGS PREDICTION. DOGS cryptocurrency
- SQR PREDICTION. SQR cryptocurrency
- LDO PREDICTION. LDO cryptocurrency
- KNINE PREDICTION. KNINE cryptocurrency
- JASMY PREDICTION. JASMY cryptocurrency
- UXLINK PREDICTION. UXLINK cryptocurrency
- METIS PREDICTION. METIS cryptocurrency
- CLOUD PREDICTION. CLOUD cryptocurrency
- STG PREDICTION. STG cryptocurrency
- USD HKD PREDICTION
2024-09-30 07:03