Solana’s Remarkable Bullish Momentum
After weathering significant selling pressure during the bear market, Solana, a popular layer-one blockchain project, has started to exhibit substantial bullish momentum, making it the best-performing cryptocurrency among the top 40 coins by market capitalization this week.
On Sunday, October 15th, it was priced at $21.9, and it has since seen continuous upward movement, with a 33% increase this week and a 4% increase in the last 24 hours, currently sitting at $29.2.
SOL briefly touched $30 earlier today but has since pulled back. Nevertheless, this is a significant achievement, considering the last time it reached this price was in November 2022 during FTX’s collapse.
The Solana price chart below shows that its latest daily candle closed above its previous highest close, indicating an uptrend.
Moreover, data from Santiment demonstrates that Solana’s social dominance has recently surged, reflecting the growing excitement within the community.
Lastly, DeFiLlama data shows that Solana’s total value locked (TVL) is on the rise, and its trading volume has also recently increased. Growing trading volume during an uptrend is considered bullish, as it indicates increasing interest despite a higher price.
Well-known Solana community member 0xGumshoe recently tweeted about Solana’s current situation, stating that “Solana is 10x better at $28 than it was at $250.” Meanwhile, economist and investment strategist Raoul Pal expressed extreme bullishness about Solana throughout the year.
Since publishing the tweet on October 20, Solana has broken above the SOLUSD trendline that began in November 2022.
However, some investors remain skeptical. In response to 0xGumshoe’s tweet, one X user noted that Solana may not experience the same buying pressure in the next bull run, as its price was heavily supported by FTX last time. Nevertheless, Solana remains largely bullish, although it still holds a negative reputation among some crypto investors due to its significant downfall in the last bull run and frequent network outages.
Best Tokens to Buy Now
While Solana and other major tokens continue to experience price growth, several new coins are gaining attention due to their high potential.
Bitcoin Minetrix
Bitcoin Minetrix is a new Ethereum-based platform that allows users to mine Bitcoin by staking $BTCMTX tokens. The process is straightforward, requiring only a MetaMask or other Ethereum-compatible wallet, with no upfront costs or hardware needed.
Historically, mining was reserved for tech-savvy individuals and well-funded businesses, but Bitcoin Minetrix empowers anyone to start. The project is currently in a highly successful presale, raising almost $2 million in under a month.
Investors can purchase $BTCMTX for $0.0111, and the price is set to increase by 10% within 24 hours. After this initial increase, there will be seven more 10% bumps before the end of the presale, offering substantial upside potential for early investors.
Bitcoin Minetrix’s presale success can be attributed to its innovative use case and robust tokenomics. The project’s use case is in high demand, as demonstrated by its presale’s massive success. Additionally, when the token launches on the open market, the staking mechanism required for Bitcoin mining will lock up a significant number of tokens, potentially leading to a substantial price increase.
You can purchase Bitcoin Minetrix tokens during the presale on the project’s website.
Meme Kombat
Meme Kombat is a new play-to-earn (P2E) staking coin that enables users to wager on the outcomes of AI-generated meme battles using the $MK token. This unique approach provides utility-driven demand for a trending meme coin and offers a fun way for players to earn crypto through gambling.
Furthermore, the platform features a staking mechanism that provides a 112% annual percentage yield (APY), which can further drive demand for the token while limiting its supply.
These factors have contributed to a successful presale, with the project raising $630K in under a month. Investors can acquire $MK for $0.1667, but they should act quickly, as the presale round is ending soon.
The team has allocated 50% of tokens to the presale, 10% to DEX liquidity, 30% to staking and battle rewards, and 10% to community rewards. This allocation ensures that $MK is 100% community-owned, aiming to encourage stable and long-term price action.
Looking ahead, the project has planned different seasons with new characters, rewards, battle modes, and ecosystem expansions to maintain community interest. Additionally, the team is fully transparent and well-versed in the business, tech, and blockchain industries, indicating long-term potential for Meme Kombat.
Considering its presale success and the appeal of viral meme coins, Meme Kombat has the potential to surge after its launch on exchanges.
Telegram-Based TG Casino Presale
With the Rollbit crypto casino recently reaching a $500 million market cap, the new TG Casino presale has also gained momentum, surpassing $1.4 million after announcing a 25% cashback on all losses when using the $TGC token.
But the $TGC token offers more than just cashback. Holders enjoy various advantages, including rewards, exclusive access to rooms and games, a 370% staking APY, and significant potential for price appreciation.
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