Solana’s top coins fell today, with Bonk down 3.5% and Dogwifhat down 6.9%. However, several meme coins with low market caps continue to advance. Additionally, traders argue that Slothana’s trending presale is exploding after raising $10 million in two weeks.
Top Solana Meme Coins Plunge as Traders Capitalize on SOL Bounce
The recent Solana coin sale comes as SOL finds support and begins to move forward. Traders, on the other hand, are speculating that the next step is on the horizon.
As such, meme coin holders have reduced the size of their positions, reallocating SOL to capitalize on the bullish momentum.
Currently, Bonk is trading at $0.00002036, down 3.5% today. However, despite the recent sell-off, Bonk and Dogwifhat remain higher this week.
Bonk is trading at a 45% premium over last week. However, the asset is down 7.4% this month and 54% from its March 2024 all-time high (ATH).
Its market cap is $1.3 billion and its 24-hour trading volume is $174 million, down 53% today.
While Bonk has been falling in recent months, one analyst notes a breakout of the falling wedge, which is often synonymous with a reversal to the upside.
“Impressive move from BONK! After bouncing off the support at $0.00001335, it rose 62% to $0.000021. Chart analysis indicates a breakout of a falling wedge pattern, suggesting further gains to come. My next targets are $0.000029, $0.0000366 and $0.0000428,” wrote X-istan.
Dogwifhat has struggled more than Bonk this week, trading at $2.8 and down 6.9% today and up 10% this week.
However, he has outperformed Bonk this month, up 23% and closer to his ATH, down 43%.
WIF has a market cap of $2.7 billion and a 24-hour trading volume of $395 million, down 0.1% today.
Prominent commentator Ansem is optimistic about WIF and signals an explosive recovery in the coming months.
The analyst explain in a recent tweet: “Last time WIF consolidated in a tight price range for two months and then broke out, it went from $0.30 to $4. »
However, while Bonk and Dogwifhat have struggled to gain momentum recently, other Solana meme coins continue to make headway, with the new Slothana presale backed to explode next.
Trader Says New Slothana Meme Coin Could Grow 100x and Presale Ends in 6 Days
Following in the footsteps of other Solana pre-sale puzzles like Book of Meme and Slerf, Slothana takes a lackadaisical but very compelling approach to memetic activity.
The sloth-themed meme coin recently launched a presale and raised $10 million in its first two weeks, eclipsing the total increases of BOME and SLERF.
Following their respective presales, BOME became the fastest meme coin with a market cap of $1 billion, and Slerf eclipsed Ethereum in terms of on-chain transaction volume. This attracted coverage from media giants like Bloomberg.
Given that Slothana outperformed both of its presales, this presents an extremely optimistic outlook for the new coin. Currently, investors have their last chance to buy at a fixed pre-sale price, with the campaign ending in six days.
To add to the excitement, quick-thinking detectives are speculating that Team Smog is behind Slothana, identifying a connection where Smog responded to Slothana’s very first X post when he had fewer than 50 followers.
This improves Slothana’s case significantly, as Smog soared more than 100 times to a market cap of $270 million after its February launch.
As such, leading analysts have given their opinions, with Michael Wrubel telling his 311,000 YouTube subscribers that Slothana is his “next 100x coin.”
Visit the Slothana presale
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reference: watcher.guru