Solana Price Breaks $200 After New Meme Crypto Trend

The Solana price broke through the $200 barrier, while meme coins again received a lot of attention on the network. At the moment, memes based on cats are very popular on the network and have led to significant trading volume.

There are rumors that Solana could achieve a similar performance this year as Binance Coin (BNB) did during the 2021 bull run, which could significantly increase the value of SOL in the near future. What’s in store for Solana after testing the strong resistance at $200 for the second time this year?

Solana price breaks through $200 after new meme crypto trend

Solana broke through $200 yesterday before entering a retracement thanks to the falling Bitcoin price. The Solana price has fallen by -7.4% to $182.40, while the Bitcoin price has fallen by about -4.5% in the past 24 hours.

Despite Solana’s sharp decline since last night, Solana is benefiting from high volume of over $3.8 billion. Today, Solana could fall even further because Bitcoin, the bottleneck of the crypto market, also appears to be falling further.

The SOL price may fall further towards its support at the 30-day average of $172. This level has not been breached once since the end of February, so expectations are high that SOL can make a bounce here.

Solana also benefits from great popularity, mainly due to the meme coins on the network. Due to its low transaction fees, fast processing times and the popularity of SOL memes, Solana is currently the most popular blockchain network.

Solana has more daily transactions than all other chains combined#sol #bnb #btc #eth #base #avax #cardano pic.twitter.com/uLNW7raEkA

— Aden Herz (@AdenHerz) April 1, 2024

Although SOL still has a lower market cap than Ethereum and BNB, Solana could see quite a bull run this year. Even though the SOL price is already up +760% in the last year, Solana could still be undervalued.

We see a similar pattern with Solana with Binance Coin (BNB), which rose over +200% from $13 to $42 in January 2020 to January 2021, before rising ~15x in the first 5 months of 2021 in value and peaked around $680.

Due to Solana’s considerable popularity, SOL is definitely a crypto to keep an eye on this year. The Solana price could test $200 again before the Bitcoin halving, but could reach a new ATH above $260 after the halving.

Which meme cryptos will explode in April?

Meme coins on Solana are very popular at the moment, but the problem is that most of them collapse within 1 day. That is why in this article we look at 2 different meme coins, 1 that has still been relevant since the beginning of February and 1 that is still for sale in the presale.

Slothana (SLOTH) – Presale raises $5.8 million

Slothana (SLOTH) is a new meme coin that launched its presale last week and has already raised $5.8 million. The sloth on Solana is tired of the ‘9 to 5’ life and wants to use crypto as an alternative source of income together with the Solana community.

SLOTH is very popular due to its recognizable message and the upcoming crypto airdrop that will take place after the token’s launch. Slothana aims to grow the meme coin to a market cap of $420 million, which could allow early investors to make a lot of profit.

The show goes on! This is my home. They’re gonna need a fuckin’ wreckin’ ball to take me out of here! #slothana #memecoin pic.twitter.com/8Qoiz2jw1W

— Slothana (@SlothanaCoin) March 30, 2024

SLOTH can be purchased in the presale for 1 SOL per 10,000 tokens, so you can get the token for approximately $0.18 each. The presale will end soon, the token will then be launched on its first exchange and could potentially explode in value. You do not have to claim SLOTH after the presale, you will automatically receive it in your wallet with which you purchased the token.

Smog (SMOG) – Last chance for airdrop

Smog (SMOG) is a meme coin launched in February on Solana with a wormhole to Ethereum. This makes it possible to trade the meme coin on both blockchains and stake it via Ethereum for extra rewards and benefits.

Today is the last chance to participate in the big SMOG airdrop on Zealy. By purchasing or staking tokens and completing quests, you can earn points. The more quests you complete, the greater your airdrop will be as a SMOG holder.

You can buy SMOG through decentralized exchanges on Solana and through the official website. If you choose to stake SMOG, you will receive additional airdrop points, an APY of 42% and a 10% discount on the current price. Soon, SMOG will make the ‘largest airdrop on Solana’.

Disclaimer: This article contains insights from independent authors and is not part of BitcoinMagazine.nl’s editorial content. This is not investment advice, please do your own research.