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Solana’s price has surged 8% over the past 24 hours, trading at $240.47 as of 11:40 a.m. ET, with trading volume surging 53% to $10.9 billion.
This comes as follows SOL hits a new ATH. It’s $264.31 on Coinbase. Momentum for the asset was driven this week by filings by Bitwise, VanEck, 21Shares, and Canary Capital to launch a spot Solana exchange-traded fund (ETF).
Solana’s popularity has also been driven by a new outbreak of meme coin mania, with the Pump.fun meme coin launch promising revenue growth for the platform.
Solana price aims for continued rebound
Solana price has been trending upward since October after bulls took control of the asset around the $160 support zone. gecko terminal. In November, momentum strengthened and prices rose further, forming a rising channel pattern with higher highs and lower lows.
XRP remained above its 50-day and 200-day simple moving averages (SMA) as a result of its upward trend.
The relative strength index (RSI) is currently in the overbought zone (above 70) at 71, suggesting that the asset may be overextended in the near term. Overbought RSI levels often lead to a decline or consolidation, but in a strong bullish trend, the RSI can remain overbought for an extended period of time.
The MACD line (1.97) is above the signal line (0.98) and is in positive territory, indicating bullish momentum. The histogram is increasing green, indicating strengthening bullish momentum. However, MACD is not excessively high. This means there may still be room for upside before a reversal occurs.
If the upward trajectory continues, the bulls could push Solana’s price to a new all-time high (ATH) with a target of $300.
However, Solana price may experience a correction near the $231 support zone (50-day SMA) as RSI is currently oversold.
Meanwhile, investors are rushing to buy newly released meme coins. Cat slap (SLAP)After listing yesterday, it showed a parabolic trend.
According to ClayBro, a prominent crypto analyst with over 131,000 subscribers, CatSlap could be the next meme coin to surge 50x.
New Memecoin CatSlap Surges 2000% – Best Cryptocurrency to Buy Now?
CatSlap Token is a new meme coin that comes with an addictive online slapping game.
SLAP had a direct fair launch on the DEX yesterday and has already surged over 2,000%. A strong marketing push and a relationship with renowned cryptocurrency wallet Best Wallet have sparked expectations of massive growth.
Its market capitalization has already soared to nearly $20 million, it boasts a cross-platform community of 1,800 people, and has recorded 1,448 DEX transactions after amassing over 900 holders.
Our partnership agreement with Best Wallet, one of the fastest growing next-generation cryptocurrency wallets, gives you instant exposure to their 60,000 strong community.
We are cooking. Staking is currently live, all website purchases will be staked for 7 days at 40% APY. Burn to unlock early 🔥🔥 pic.twitter.com/ZIUK9pd3sZ
— CatSlap (@CatSlapToken) November 21, 2024
It aims to compete with sector leaders like Popcat to capitalize on the booming cat-themed meme coin trend. Take advantage of game mechanics to engage with the community.
There is also the opportunity to earn passively through the project’s staking mechanism, which offers a 40% Annual Percentage Yield (APY). Tokens are locked for 90 days, with the option to unlock your stake early. Unstaking before 90 days will burn a portion of your tokens, thus reducing selling pressure.
The current value of $SLAP is $0.002104 per token. After its explosive debut, there are already rumors that the token could land on the coveted Coinbase or Binance listing. When PEPE listed on Coinbase and Robinhood last week, its price seemed parabolic.
you can buy CatSlap tokens can be purchased through the official website or best wallet Via the “Future Tokens” section.
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