Solana’s Recent Surge and Potential Impact
Solana’s price has experienced a remarkable 30% increase in the last 24 hours, aiming to solidify its position above $70. Concurrently, Bonk (BONK) has achieved a new all-time high amidst the optimistic outlook for SOL. The question arises: How might Memeinator (MMTR) benefit from a resurgence in meme coins like Bonk?
Solana traded above $72 on Friday morning, with SOL’s price gaining over 13% in the past 24 hours, reaching levels last observed in May 2022. The bullish momentum has propelled Solana to 19-month highs, boasting an impressive 800% spike since its rise from $8 in late December 2022.
Could this surge for SOL have a cascading effect on Solana’s ecosystem meme coin, Bonk (BONK)? What implications would a surging BONK have for Memeinator (MMTR)?
Anticipating Solana’s Potential Surge to $100
Analysts are predicting that Solana (SOL) could surge to $100 in the coming weeks. A closer look at the charts reveals that SOL/USD has recorded 7 green weekly candles out of the last 8. On the monthly chart, it shows four consecutive greens for the first time since SOL’s rally from July to November 2021.
With anticipated buy-side pressure amid key network growth and price action, former BitMEX CEO Arthur Hayes’ bullish call for Solana to reach $100 could materialize. While this may not happen immediately, a strengthening above $70 could provide the foundation for bulls to target higher levels.
If bears intervene in the short term, a bearish retest of support within the $60-$55 range could be possible. Below that, the $50 level is expected to act as a robust support area.
Bonk (BONK) – Setting New All-Time Highs
Bonk (BONK) is a Solana-based dog-themed meme coin that has experienced significant gains, rising over 200% in the past week. Over the last 30 days, BONK has surged over 1,000%, hitting an all-time high of $0.00001224 on December 8, with a trading volume of $200 million, up 137% in the last 24 hours.
Launched last year, BONK initially struggled for community traction in the challenging meme coin space. However, with increasing interest in Solana over the past few months, BONK has thrived.
If the bullish sentiment around Solana persists, and meme coins like Dogecoin and Shiba Inu signal a return of the meme coin glory days, BONK’s price could see a significant reduction in zeros.
Memeinator (MMTR) Price Prediction
The Memeinator (MMTR) is a new meme token aiming to leverage artificial intelligence (AI) in becoming the top meme coin. Although the token is yet to launch, its presale is drawing attention from investors.
Memeinator’s whitepaper highlights potential utility through gaming, non-fungible tokens (NFTs), decentralized applications (dApps) integration, and staking. The project aims to clean the meme coin space by targeting weak meme tokens, with a goal to capture a $1 billion market cap.
Recent updates, including a massive 129 million MMTR burn and the launch of staking, are expected to generate further interest as the presale progresses towards a close.
Upon launching on major exchanges, the price of Memeinator could experience a significant rise. Buyers entering at the current $0.014 price might contribute to the expected 250% increase as the token rises to $0.049 through the remaining presale stages. If market conditions align for a bullish rally in 2024, MMTR could target $0.1 in the year and $0.5 to $1 by the end of 2025.
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