SOL Pumps 17% As Experts Say This New Meme Coin Might Outperform PEPE, SHIB, BONK, And WIF

The Solana value jumped 17% within the final 24 hours to commerce at $130 as of 4:45 a.m. EST on buying and selling quantity that skyrocketed 220% to $7.57 billion.

Solana’s new value surge got here amid a market-wide bull run which is as soon as once more led by Bitcoin. The world’s oldest cryptocurrency blasted via $64k yesterday earlier than paring positive factors.

Bitcoin’s market dominance ensured that altcoins will comply with, which led the SOL value to skyrocket as effectively. Nevertheless, whereas Bitcoin stopped solely round $5,000 wanting its ATH, SOL nonetheless has an extended solution to go because it’s now solely reached 50% of its ATH.

That is why many analysts imagine the coin has much more room left to develop. Led by the expectations of additional progress, merchants began shopping for, which pushed the coin’s day by day buying and selling quantity up by over 220%.

Solana Worth Prognosis

The SOL value climbed to $130 as a part of the brand new rally, however it seems that this degree stands as a robust resistance that has prevented it from transferring additional up. In fact, provided that SOL is surging as a part of a broader crypto rally led by BTC, the explanations for its value enhance come from elementary components, quite than technical ones.

Even so, many merchants imagine that technical evaluation can present them with hints of issues to return. Proper now, a number of the technical indicators counsel that SOL is more likely to see a light correction. One of the vital generally used indicators for predicting value efficiency is the coin’s Relative Energy Index (RSI), which ventured deep into the overbought territory previously 24 hours.

RSI reached the worth of 76.71 earlier at this time, and whereas it has dropped to 65.52 since, that is nonetheless considerably above the impartial zone. Nevertheless, this solely means that merchants are persevering with to purchase, and whereas some have seemingly taken a possibility to take revenue, many appear assured that SOL will proceed to develop.

In different phrases, whereas a excessive RSI degree is often an indication that the worth would possibly drop transferring ahead, this isn’t essentially the case when a significant rally like this pumps the costs up.

However, Bollinger bands nonetheless stay extraordinarily huge, which is one other bullish signal. Although the SOL value began struggling on the resistance at $130, likelihood is good that the worth will both stay near this degree or that it’d breach it if the shopping for stress continues to develop.

Alternatively, if the bulls do determine to withdraw, the SOL value has a number of robust help ranges, together with those at $125, $120, and $110 which have a robust probability of stopping the worth from dropping too deep.

Promising Different to Solana

One of the vital promising alternate options to SOL proper now’s a younger token referred to as Frog Wif Hat (FWIF). It is a meme coin that was impressed by the identical frog meme as PEPE.

Nevertheless, the crypto group appears satisfied that this venture would possibly outperform PEPE, and alongside it, additionally SHIB, BONK, and even WIF.

Frog Wif Hat describes itself as a venture that’s, “Opping onto a scene the place it’s regular to place ‘ats on animals.”

Frog Wif Hat wears le béret, a staple of French tradition. All the time carrying a baguette, usually grumpy or drunk, often chain-smoking while displaying a deep disdain for Individuals, ‘e’s crypto’s moodiest toad.

The venture has provide you with a reasonably detailed roadmap, and its crew introduced that they plan to bridge it to Solana through Portalbridge as soon as the roadmap reaches Part 2. In doing so, they’ll open FWIF to the second-largest meme coin group in the complete crypto sector.

Proper now, the token will be bought on Uniswap, the place you should buy it in trade for ETH, USDT, USDC, and just about some other cryptocurrency supported by Ethereum’s largest DEX.

All that’s wanted to buy it’s a MetaMask pockets, and given the group’s pleasure by it, many are doubtless to take action — particularly now that the crypto trade is seeing an enormous market-wide rally.

Go to FWIF here.

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