Memecoins
Expert Predicts Solana Price To Rise By 300%, Along With A Rise In This Memecoin
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Solana’s recent price drop to $135 has not dampened experts’ predictions of a potential 300% rebound in 2024, as well as a new memecoin showing potential.
Solana has been the clear frontrunner in this year’s rally, with monthly trading volume reaching a new all-time high of $58.4 billion in March and prices reaching as high as $200.
However, in recent weeks, trading has slowed and the coin’s price has dropped to just $135.
However, many expect this to be a temporary correction that will lead to a promising recovery. Popular crypto expert Jacob “Crypto” Bury predicted that Solana could reach 3-4x in 2024 and outlined his reasoning in a recent report. Message.
He also highlighted the upcoming Solana coin which he believes is poised to gain momentum, Dogeverse (DOGEVERSE)which is currently on pre-sale.
The price of Solana will increase by 300% this year
2023 was a tough year for crypto, with prices falling and stagnating as trading activity declined across the board. The Solana blockchain was not immune to this bearish sentiment, it started 2023 at around $10, almost a tenth of the price it started 2022 at.
From there, it struggled to make serious gains through the end of 2023. The price surged from $38 in November to break the psychological barrier of $100.
From there, we saw Solana reach new highs, even hitting $200 (its all-time high was $260 in 2020). This was accompanied by a huge increase in trading volume, reaching $58.4 billion. Previously, the highest monthly trading volume was almost $28.5 billion in December 2023.
The month of April was marked by a slowdown, with only $35 billion traded. At the same time, the price fell below the $200 level to settle around the $135 mark. However, recent moves and analysis have given rise to speculation that this price drop is not likely to last and the price could increase by 300%.
The last 24 hours saw a 12% price rise and positive candlestick trends. Solana is currently priced at $137.40.
Jacob points out that Solana has jumped 500-600% since 2023, so a similar jump is entirely possible. He also points out that even if Solana simply maintains its market dominance at 2.8%, with the crypto industry expected to reach a valuation of $10 trillion, Solana’s market cap could reach $280 billion.
This would result in an increase from its current market valuation of $61.5 billion.
One of the main factors influencing Solana’s bullish sentiment has been the memecoin mania dominating the crypto landscape. Meme coins have dominated this bull run to become a popular narrative in the first quarter of 2024. On average, meme coins have seen returns of $1,312.6 across major tokens.
Most of this activity comes from the new Solana memecoins. This has prompted investors to scour the web for the next Solana coin to gain traction.
Dogeverse: New Solana Coin Expected to Gain Momentum
In addition to predicting positive price upside for Solana, Jacob Bury also highlighted a Solana-compatible memecoin that he sees as having high potential: Dogeverse (DOGEVERSE).
In a recent Xpost, he predicted that there is a chance that this crypto will become another top 20 coin. Dogeverse is a new project and the first meme coin to run on six major blockchains.
If Dogeverse makes the top 20 memecoins, Dogeverse would follow in the footsteps of recently launched meme coins such as Book of meme, dogwifhat, and Bonk.
Book of meme had a successful launch, with the token seeing a 57,000% gain in three days. Many recently launched coins have seen similar returns.
Dogeverse is a new multi-chain meme coin that can capitalize not only on the success of Solana, but also on the popularity of other chains such as Ethereum, Avalanche, and the newly launched chain, Base. Base has spawned a number of viral coins, including Degen, which saw a 3,000% increase in the first week after launch.
Dogeverse follows the adventures of Cosmo, the chain-hopping Shiba Inu at the heart of the Dogeverse project. Dogeverse recently expanded to the Solana channel, attracting the attention of experts of all stripes, including Jacob Bury. Currently, the token is in pre-sale and has already raised more than $13 million.
Holders can stake the token to receive a generous staking return. The coin will function as a bridge between six major blockchains: Ethereum, Binance, Polygon, Avalanche, Base and Solana, meaning it will attract coin investors from all crypto communities.
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