{"id":4929,"date":"2024-08-08T16:23:30","date_gmt":"2024-08-08T16:23:30","guid":{"rendered":"https:\/\/technoghyan.com\/the-new-meme-coin-on-solana-is-gaining-430-but-dont-get-carried-away-too-quickly\/"},"modified":"2024-10-25T16:49:24","modified_gmt":"2024-10-25T16:49:24","slug":"the-new-meme-coin-on-solana-is-gaining-430-but-dont-get-carried-away-too-quickly","status":"publish","type":"post","link":"https:\/\/hindideep.org\/the-new-meme-coin-on-solana-is-gaining-430-but-dont-get-carried-away-too-quickly\/","title":{"rendered":"The new meme coin on Solana is gaining 430%, but don’t get carried away too quickly"},"content":{"rendered":"
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However, one should not believe that every new trending token deserves special attention. Some, like the Banana Tape Wall (BTW), actually offer very little interest or functionality, despite their attractive price increases.<\/p>\n

What fueled this new Solana meme corner?<\/h2>\n

Meme coin Solana BTW stood out as the best in its category in the last 24 hours, rising by a whopping 430% while the rest of the market was still trying to recover from the recent crash.<\/p>\n

BTW, currently listed at $0.0143, has certainly seen a remarkable rise, but that does not guarantee its place in an investor’s portfolio. Indeed, new meme coins are often subject to considerable volatility and price manipulation.<\/p>\n

BTW is inspired by the piece “The Comedian” which shows a banana stuck to the wall. Sold for nearly $120,000, this piece plays with the irony of valuing elements that are nonetheless trivial.<\/p>\n

More info: Solana blockchain meme coins to watch in August 2024<\/strong><\/p>\n

Launched less than three days ago, the BTW token hopes to capitalize on the current craze for meme coins based on the Solana blockchain. Since its introduction, the token has seen strong growth, but this could already represent its peak.<\/p>\n

Nevertheless, this token has played a significant role in increasing the total market cap of Solana meme coins, which now exceeds $7 billion. This equates to an increase of 12% in a single day.<\/p>\n

Solana Price Forecast: Benefits for SOL Ecosystem Parent Currency?<\/h2>\n

Solana’s price also benefits from market dynamics and the appeal of meme coins on its network. In the last 48 hours, the cryptocurrency has seen a price increase of almost 20%, reaching $154.<\/p>\n

Dubbed the \u201cEthereum Killer\u201d, SOL is poised to turn the $156 mark into strong support, marking a 50% bounce after recent losses. A rise from this level could push SOL to $175 or even higher.<\/p>\n

Learn more: Platforms to Buy Solana (SOL) in 2024<\/strong><\/p>\n

However, profit-taking could see Solana lose support at $156, ultimately pushing the altcoin lower. A drop below $150 could then reverse recent gains and contradict the price’s bullish outlook.<\/p>\n

Moral of the story: When the same horn goes off, all of SOL benefits.<\/strong><\/p>\n

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Disclaimer<\/p>\n

Disclaimer: In accordance with The Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased information, but market conditions may change without notice. Always do your own research and consult with an expert before making any financial decision.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

However, one should not believe that every new trending token deserves special attention. Some, like the Banana Tape Wall (BTW), […]<\/p>\n","protected":false},"author":2,"featured_media":4979,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-currency"],"_links":{"self":[{"href":"https:\/\/hindideep.org\/wp-json\/wp\/v2\/posts\/4929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hindideep.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hindideep.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hindideep.org\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hindideep.org\/wp-json\/wp\/v2\/comments?post=4929"}],"version-history":[{"count":1,"href":"https:\/\/hindideep.org\/wp-json\/wp\/v2\/posts\/4929\/revisions"}],"predecessor-version":[{"id":4997,"href":"https:\/\/hindideep.org\/wp-json\/wp\/v2\/posts\/4929\/revisions\/4997"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hindideep.org\/wp-json\/wp\/v2\/media\/4979"}],"wp:attachment":[{"href":"https:\/\/hindideep.org\/wp-json\/wp\/v2\/media?parent=4929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hindideep.org\/wp-json\/wp\/v2\/categories?post=4929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hindideep.org\/wp-json\/wp\/v2\/tags?post=4929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}