Solana-Based Memecoins Make a Strong Comeback and Dominate the Memecoin Rally This Altcoin Season
- DDDOriginal
- 2024-10-16 00:38:10715browse
Amid increased price volatility, the Solana price has maintained its value above the $150 mark. This has resulted in the Solana ecosystem regaining
Solana-based memecoins have shown remarkable resilience amid the recent market downturn. Several memecoins, such as Dogwifhat (WIF), Bonk (BONK), and Popcat (SOL) POPCAT, have outperformed the broader market and recorded significant gains.
As we approach the final quarter of 2023, interest in memecoins is expected to remain high, especially among retail traders. In this article, we will analyze the price performance of three promising Solana-based memecoins and identify their potential for massive price surges in Q4.
1. Dogwifhat (WIF)
Solana memecoin Dogwifhat (WIF) price has shown promising resilience despite the recent market downturn,濤涛不禁 to record a drop of 5.86% in the past 24 hours. Countering this short-term price decline, WIF price has added ~7% in the past week and 69.16% during the past 30 days.
Moreover, the memecoin has rewarded its long-term investors with a YTD return of 11.18%,本線fine to secure the 36th position with a market cap of $2.67 billion. A key factor contributing to this strong price performance is the memecoin’s upcoming NFT mint, which has generated significant buzz within the crypto community.
An analysis of the 1D Dogwifhat price chart reveals Simple Moving Average (SMA) acting as a crucial support to the price floor. At the same time, the Relative Strength Index (RSI) indicator has failed to breach its overbought range on multiple occasions, highlighting increased price volatility for the memecoin in the crypto market.
If the bulls regain momentum, we can expect the WIF price to head toward its upper resistance level of $4 in the coming time. However, a bearish reversal could pull the price toward its low of $2.1.
2. Bonk (BONK)
Solana memecoin Bonk (BONK) price has maintained its bullish momentum by adding ~2% in the past day and 7.16% over the past week. Countering this short-term price rally, the memecoin has added 31.35% during the past month and rewarded its long-term investors with a YTD return of 69.68%.
An analysis of the 1D BONK price chart reveals increased bullish action from both EMA 50/200-day and the RSI indicator, which is yet to reach the overbought zone. At the same time, the Moving Average Convergence Divergence (MACD) indicator also showcases bullish momentum.
This technical analysis suggests that the BONK memecoin may continue gaining value during this week. If the bulls can maintain the price above its support level of $0.00002125, it could set the stage for the memecoin to head toward its resistance level of $0.0000270.
On the flip side, a trend reversal could result in it retesting its low of $0.0000150.
3. Popcat (SOL) POPCAT
Solana memecoin Popcat (SOL) POPCAT price has shown promising resilience despite the recent market downturn,濤涛不禁 to record a neutral trend in the past 24 hours. However, the memecoin has added 84.41% to its valuation over the past month and 16,585.95% this year alone, making it the best-performing memecoin of this year.
An analysis of the 1D POPCAT price chart reveals the RSI indicator continuing to hover close to its overbought range. At the same time, both EMA 50/200-day are seen maintaining a constant uptrend on their respective chart.
This technical analysis highlights a bullish outlook for the POPCAT price in the crypto market. If the bulls can regain momentum, suppose, this could result in this meme coin recording a new all-time high (ATH) in the coming time. On the contrary, if the bears outrun the bulls, the POPCAT price could plunge toward its low of $1.25.
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