- The price of Solana rose 30% in 24 hours as bulls expected to rally above $70.
- Meanwhile, BONK hit an all-time high amid a strong SOL outlook.
- Is Memeinator (MMTR) likely to benefit from the resurgence of meme coins like Bonk?
Solana was trading above $72 on Friday morning, with SOL price rising more than 13% in the past 24 hours, breaking levels last seen in May 2022. Solana’s price was hovering around 19-month highs and boasted gains of over 800% during the bull market. The surge has occurred since SOL rose from a low of $8 in late December 2022.
Could the surge in SOL spread to Solana ecosystem meme coin Bonk (BONK)? What does the surge in BONK mean for Memeinator (MMTR)?
Solana (SOL) price could surge to $100 in the coming weeks.
Analysts are predicting that the sixth-largest cryptocurrency could continue its upward trajectory towards $100.
Looking at the charts, we see that SOL/USD has recorded green weekly candles for 7 of the last 8, while on the monthly chart, SOL has recorded 4 consecutive green candles for the first time since rising to 5 consecutive green candles from July to November 2021. .
Solana price on weekly chart. Source: TradingView
With buy-side pressure likely to increase due to major network growth and price fluctuations, former BitMEX CEO Arthur Hayes said: optimistic call With Solana, up to $100 can be included on the card. That may not happen this weekend, but a consolidation above $70 could allow the foundation to attack higher levels.
In the near term, if the bears stick their nose into the bulls’ business, a retest of bearish support in the $60-$55 range could be possible. Below that is the $50 level, which is likely to act as a strong support area.
Bonk (BONK) – Solana-based meme hits a new ATH.
Bonk (BONK) is a Solana-based dog-themed meme coin that has seen significant gains over the past few weeks. Within the Solana ecosystem, BONK stands out as one of the best-performing coins, up over 200% in the past week.
In the past 30 days, this meme token has jumped more than 1,000%. In the last 24 hours, BONK rose 30%, reaching an all-time high of $0.00001224 on December 8. This is because trading volume reached $200 million, a 137% increase over the last 24 hours.
BONK launched last year and struggled to gain community traction as the meme coin space declined. However, over the past few months, BONK has benefited from increased interest in Solana as investors take positions on the layer-1 blockchain.
If the bullish sentiment towards Solana continues and meme coins like Dogecoin and Shiba Inu signal a return to the meme coin heyday, BONK price could move a few zeros below the price level.
Memeinator Price Prediction – Can MMTR Catch the Meme Coin’s Resurgence?
Memeinator (MMTR) is a new meme token that seeks to leverage artificial intelligence (AI) to emerge as the number one meme coin. Although the token has not been launched yet, the pre-sale is generating a lot of interest from investors.
Memeinator’s whitepaper highlights its potential utility through gaming, non-fungible tokens (NFTs), decentralized application (dApp) integration, and staking. As mentioned on the pre-sale page, MMTR is a token designed to clean up the meme coin world by targeting weak meme tokens.
The project hopes to overtake low or no utilities and achieve a market capitalization of $1 billion. This has primed the investor community for the resurgence of meme coins like Pepe, Bonk and Floki, and is probably why the Memeinator pre-sale has already raised over $1.75 million.
Recent updates, such as the massive burn of 129 million MMTR and the launch of staking, are likely to attract greater interest as the pre-sale comes to an end.
The price of Memeinator could rise significantly once it launches on major exchanges, with a buyer entering at the current $0.014 price potentially adding a 250% increase in the token, taking it up to $0.049 through the remaining pre-sale stages.
If market conditions remain strong in 2024, when MMTR launches, the token could target $0.1 this year and $0.5-1 by the end of 2025.
Find out more before investing in a Memeinator social media page or website.