Solana Nears $200 as SOL Meme Coin Presale Trend Continues

Solana’s bullish trajectory continues as its price flirts with the $200 mark.

This momentum is made possible by a resounding interest in its ecosystem, with coin pre-sale projects like Book of Meme, Slerf and Slothana all making a splash.

SOL Price Shows Strength Amid Parabolic Ecosystem Growth

Solana price is driven by unwavering on-chain activity, with trading volume, TVL, and meme coins all reaching new highs.

Currently, Solana is priced at $196, up 0.2% today, 5.4% this week, 48% this month, and 836% this year.

Although its price is stable today, the 24-hour trading volume increased by 37%, to $3.1 billion.

Indeed, its recent performances have turned heads in the crypto community. However, this is to be expected given his spectacular on-chain metrics.

According to data from The Block, Solana recently reached its highest number of daily active wallet addresses since its peak in 2021. Additionally, it is experiencing a more steady climb, indicating organic and sustainable growth.

Solana’s growing user base is also reflected in DEX activity, with two of the top three crypto DEXs by volume being on Solana.

Currently, Jupiter and Orca occupy first and third place, separated by Ethereum’s Uniswap in second place.

Meanwhile, Solana’s TVL is also thriving at $7 billion, its highest level since December 2021. According to DeFiLlama data, this equates to a whopping 65% increase this month.

These on-chain statistics represent a growing demand for SOL among crypto users.

However, TLDR analyst ELI5 recently noted that the price of Grayscale’s Solana fund is trading at a significant premium to SOL’s crypto market value.

This indicates deep-rooted demand among institutional heavyweights who cannot purchase through traditional crypto exchanges.

Yet the main driver of Solana’s recent rise is his sensational coin season. The saga has taken many twists and turns, starting with blue chips like Bonk and Dogwifhat.

However, its latest revelation concerns pre-sale meme coins. Book of Meme started the trend, becoming the fastest meme coin to reach a $1 billion market cap shortly after its IEO.

Then Slerf took off, eclipsing Ethereum in 24-hour trading volume just days after its launch.

But the new Slothana presale looks set to blow up next, raking in more than $5 million in its first six days of presale.

New Solana Slothana Presale Raises $5M, Backed at 10X

Given its unprecedented pre-sale success, it’s no surprise that Slothana is being dubbed the next coin to explode.

“A potential 10X gem of a coin,” famous analyst Jacob Bury said in a recent YouTube video.

The success of other Solana meme coin presales adds to the excitement. LookOnChain reported there are many cases of traders becoming absurdly rich by buying the pre-sale of the Book of Meme, then reselling it once its price increased.

However, Slothana has already eclipsed BOME in its pre-sale, with BOME raising just north of $2 million.

Indeed, this creates an extremely bullish outlook for $SLOTH. However, there is speculation that a savvy team of marketers launched the project and engineered its rapid success.

Rumors suggest this is the same band that started Smog.

This would be extremely optimistic, given that Smog soared 100 times to reach a market cap of $200 million after its February launch.

To add fuel to the fire, Team Smog was one of the very first interactions on Slothana’s X account when she had less than 50 followers, commenting on her first post, “To the moon.”

But even though Slothana’s outlook is optimistic, there is no predetermined pre-sale cap, so potential buyers should act quickly.

Visit the Slothana presale


reference: watcher.guru

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