Solana meme coin crazy, why are all eyes on the goat?
In the year October 25, 2024 The overall cryptocurrency market has experienced a modest recovery after the last few days of price declines. Meanwhile, Solana (SOL) and its meme-based tokens have been making waves, garnering attention from crypto-enthusiasts with dramatic price increases.
Coins based on Solana
According to CoinMarketCap data, SOL-based meme coins including Dogwiffhat (WIFF), Bonk (BONK), PopCat (POPCAT), Cat in Dog World (MEW) and the recently launched Goatseus Maximus (GOAT) have seen impressive gains. Increase. According to the data, WIF, BONK, POPCAT, MEW and GOAT recorded price increases of more than 3.7%, 5.6%, 9.8%, 26.3% and 5.5% respectively in the last 24 hours.
Why SOL-Based Meme Tokes?
A possible reason for the rally of the aforementioned meme coins is that Solana (SOL) recently broke out of the consolidation zone and increased in price by over 3.7% in the last 24 hours.
According to professional technical analysis, SOL has turned bullish following the formation of an inverted head and shoulders pattern. Additionally, based on the recent price action, there is a high probability that SOL will reach the $190 level in the coming days. If SOL reaches this level, a significant upward rally in SOL-based meme coins and other related tokens may follow.
The GOAT meme coins and its demand
Despite the prevailing sentiment around the meme sector, whales and investors seem to have turned their attention to the Goat meme coin. In the last few days, these tokens have accumulated significantly, which indicates the increasing demand and interest in the GOAT meme coin.
This consistent demand from investors and whales has led to a 130% increase in prices over the past week and 650% over the past 30 days.
Following the positive speculation in the cryptocurrency market around GOAT, on October 24, 2024, the world's largest cryptocurrency exchange, Binance, has announced that it will start futures trading for MemCoin. This announcement by Binance boosted the coin's price to a new high, making it into the top 100 cryptocurrencies for the first time.
As of now, GOAT is not available on major cryptocurrency exchanges. Despite this, the demand has increased significantly, which is a positive sign for goat owners.
