Crypto Gloom

Solana Price Prediction: SOL Turns Binance Coin into 4th Largest Cryptocurrency, This Solana Meme Coin Surges 20%

Crypto Companies News
By Crypto Gloom

join us telegram A channel to stay up to date on breaking news coverage

Solana’s price surged 9% to $202.91 as of 2:21 EST, making it the fourth-largest cryptocurrency by market capitalization, surpassing Binance Coin (BNB).

According to CoinMarketCap, SOL’s market cap soared to $89 billion, while BNB ranked fifth at $86 billion.

CoinMarketCapCoinMarketCap

CoinMarketCap data

As Solana price continues to strengthen, X’s Wolf of Altcoins has listed SOL on its current best buy list.

The Solana ecosystem has been a dominant topic since the fourth quarter of 2023. This story grew out of the competition between Solana and Ethereum over transaction cost metrics.

The Solana ecosystem’s competitive advantage over Ethereum lies in its low transaction fees. With this, SOL continues to dominate the main Ethereum Virtual Machine (EVM) chain for decentralized exchange (DEX) traders.

Aside from the SOL vs. ETH story, another topic that has kept Solana in the headlines is the abundance of meme coins.

Myro (MYRO), Bonk Inu (BONK), Dogwifhat (WIF), and Smog (SMOG) are among Solana’s meme coin stars and cannot be ignored. This social dominance has provided a tailwind for Solana’s price, which is currently eyeing a 2021 all-time high of $259.90. With this, the Solana ecosystem is now popular among DEX Screeners.

DEX ScreenerDEX Screener

This indicates a significant level of trading activity or price movement compared to other assets listed on the DEX.

Solana Price Outlook As SOL Continues to Shock Markets

Solana price is trading within the upper region of the market range, measuring from $8.73 to $259.90. If the bulls have their way, Solana price could regain its all-time highs, nearly 30% above current levels.

Several technical indicators are tilting in favor of the bulls, starting with the Relative Strength Index (RSI), which is rising to show that momentum is rising. The histogram bar of the Awesome Oscillator (AO) is also blinking green and increasing in volume. This is a sign of strength in the SOL market.

Additionally, the volume indicator is growing, which means that the Solana price upward trend is getting stronger. This adds credence to the optimistic thesis.

If we are very bullish, Solana price could break the all-time high of $259.90 and hit higher highs, potentially reaching the psychological level of $300.00.

SolanaSolana

TradingView: SOL/USDT 1-week chart

converse case

On the other hand, if the downtrend is triggered by profit booking and the market recovers, Solana price could fall. If the price falls and closes below the 50% Fibonacci placeholder $134.32, the bullish argument will be invalidated.

Meme Coins remain the primary narrative of the Solana ecosystem. Among them: Smog surged more than 20% as investors prepared for large-scale airdrops.

According to cryptocurrency YouTuber Jacob Bury, Smog is one of the five best meme coins you can buy right now.

A promising alternative to Solana

Smog entered the cryptocurrency market through the Jupiter Decentralized Exchange (DEX). This promises to be the mother of all airdrop campaigns and builds on the success of Solana’s recent launches such as Myro, Bonk, and Dogwifhat.

With the goal of sparking breakthrough success with a powerful airdrop campaign, Smog will give token holders access to a professional cryptocurrency community. This group will help build the community support needed to create an unstoppable buzz within the meme coin space. This is the promise and excitement of interactive, persistent, multi-airdrop campaigns that gamify the user experience.

Some analysts say smog is poised to benefit this year from its dragon theme. Chinese Lunar Year of the Dragon celebrations could attract investors from vibrant Asian cryptocurrency markets looking to capitalize on the season’s lucky charm.

According to the project’s token economics, 35% of all tokens are allocated for the upcoming airdrop. To participate, purchase and hold Smog and complete activities managed by Zealy to earn additional airdrop points.

The best place to buy Smog is the official website here, where buyers can get 10% discount. But act quickly as the offer likely won’t last long.

Also read:

Green Bitcoin – Gamified Green Staking

green bitcoingreen bitcoin
  • Coinsult’s contract audit
  • Early Access Presale Now Live – greenbitcoin.xyz
  • Profit Forecast – Cointelegraph Feature
  • Staking Rewards and Token Bonuses
  • More than $6 million raised

green bitcoingreen bitcoin


join us telegram A channel to stay up to date on breaking news coverage

You might also like More from author