Solana (SOL) Rally to $100 BONK, Memeinator can benefit
Solana prices surged 30% in 24 hours as bulls looked to consolidate above $70. Meanwhile, BONK has reached a new all-time high amid the impressive SOL scene. Could Memeinator (MMTR) benefit from the resurgence of meme coins like Bonk?
Solana traded above $72 on Friday morning, with SOL's price gaining more than 13% in the past 24 hours to hit levels last seen in May 2022. An increase since the SOL reversed its $8 lows at the end of December 2022.
Can this cascade to the Solana Ecosystem meme coin Bonk (BONK) for SOL? What does rising BONK mean for Memeinator (MMTR)?
Solana (SOL) price may rise to $100 in the coming weeks.
Analysts predict that the 6th-ranked cryptocurrency may continue its upward trajectory towards the $100 mark.
Looking at the chart, we can see that SOL/USD has recorded 7 green weekly candles from July to November 2021. On the monthly chart, SOL has had four consecutive green highs for the first time with five green highs from July to November 2021.
Solana price on weekly chart. Source: TradingView
Amidst key network growth and price action, buy-side pressure could increase, with former BitMEX CEO Arthur Hayes calling $100 on Solana could be on the cards. While that may not happen this weekend, a consolidation above $70 could lay the groundwork for an attack on higher levels.
If the bears manage to poke their noses into the bulls' trades in the short term, a retest of support in the $60-$55 range is likely. Below that is the $50 level which can act as a strong support area.
Bonk (BONK) – The meme based on Solana just hit a new ATH
BONK is a Solana-based dog-themed meme coin that has seen significant gains over the past few weeks. Within the Solana ecosystem, BONK stands out as one of the top performing coins, up over 200% in the past week.
In the last 30 days, this meme token has jumped over 1,000%. Over the past 24 hours, BONK has seen a 30% increase, reaching an all-time high of $0.00001224 on December 8th.
BONK launched last year and has struggled for any community traction. However, as investors took positions around the Layer 1 blockchain, interest in Solana has increased over the past few months, and BONK has benefited.
If the bullishness around Solana continues and meme coins like Dogecoin, Shiba Inu suggest the meme coin glory days are back, BONK price may take a few zeros off the price level.
Memeinator Price Prediction – Will MMTR Catch a Meme Coin Revival?
Memeinator (MMTR) is a new meme token that seeks to use artificial intelligence (AI) in an effort to emerge as the top meme coin. While the token has yet to launch, the pre-sale is attracting investors' attention.
Memeinator's white paper highlights the benefits of gamification, non-fungible tokens (NFTs), decentralized applications (dApps) integration and staking. As mentioned on the presale page, MMTR is a token designed to clean up the meme coin world by targeting weak meme tokens.
The project hopes to capture a $1 billion market cap with little or no utility. This has put the investor community first, the resurgence of meme coins like Pepe, Bonk, and Floki may be the reason why Memeinator's presale raised over $1.75 million.
Recent updates like the massive 129 million MMTR may see more demand as the pre-sale draws closer.
After its launch on the major exchanges, the price of Memainer can increase significantly, buyers who enter the current price of $0.014 will see a 250% increase to $0.049, the remaining pre-sale levels.
If market conditions are favorable for a bullish rally when the MMTR launches in 2024, the token will target $0.1 per year and $0.5 to $1 by the end of 2025.
Learn more before investing on Memeinator's social media pages or their website.
