The content and materials featured on this page are for educational purposes only. Turmoil strikes the Solana meme coin market as Bonk and Dogwifhat retrace 11% and 12%. However, the newly launched Slothana has continued pushing ahead as top analysts back it for 10x gains.
According to CoinGecko data, the total crypto market cap is down by 3.8%, but the Solana meme coin ecosystem fares worse for wear, down 5.8%. However, Solana’s top dogs, Bonk and Dogwifhat, have suffered even deeper selloffs, down 11% and 12%, respectively. Currently, Bonk is trading at $0.00002373.
Despite today’s pullback, it remains up 67% this week but is down 11% this month. BONK has a $1.5 billion market cap and a $531 million 24-hour trading volume, down 9.3% today. The analyst noted that it recently broke a wedge chart pattern to the upside and suggests that it will now push toward its March 2024 all-time high (ATH).
Moving to Dogwifhat, it is trading at $2.95, up 23% this week and 4.8% this month. It holds a $2.9 billion market cap and a $802 million 24-hour trading volume. The analyst cited WIF’s bounce from the $1.9 support level but warned that the bullish outlook will be invalidated if it loses that level.
Analysts are backing new projects to perform well. One of the most promising is the presale token Slothana, predicted to 10x by a leading analyst. The sloth-themed meme coin has eclipsed the total raise of earlier presale phenoms, Book of Meme and Slerf, setting a bullish precedent for its upcoming exchange listing.
Leading analysts are rallying in support based on the relentless success of Book of Meme and Slerf after their presales. BOME reached a $1 billion valuation in two days, and SLERF overtook Ethereum in on-chain trading volume. Another factor hinting at success for the newest Solana hype is rumors that its team is linked to Smog, another hyper-triumphant Solana meme coin.
These factors offer an exciting glimpse into Slothana’s future potential, but traders must act quickly because the presale ends in four days. Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page.
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