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Meme coin season has arrived as numerous tasks expertise astronomical positive aspects. The Solana ecosystem has skilled notable success, with Myro and Bonk up over 20% at present.
In the meantime, the brand new cross-chain meme coin Frog Wif Hat is taking the market by storm, hovering over 130% and attracting over 1K consumers in its first 12 hours.
Solana meme cash surge as SOL pumps 8%
The previous 24 hours have been exceptionally type for the crypto market. Bitcoin just lately touched $57K, and altcoins throughout the board have exploded.
In addition to Bitcoin, Solana is up 8.41% at present. The transfer has added $4.1 billion to its market cap, whereas its buying and selling quantity has additionally surged by 197%, at the moment at $2.7 billion.
Nonetheless, Solana’s bullish uptick has been overshadowed by a few of its native meme cash, with Bonk and Myro up over 20%. In the meantime, Dogwifhat has additionally seen a notable rise, pumping over 50%.
These outsized positive aspects are enabled by the decrease market caps, coupled with the hype and FOMO-driven nature of meme cash.
Analysts have weighed in on the current will increase, with Universol noting a trendline resistance escape for Myro.
Whereas Universol didn’t present a value goal, such patterns usually signify the tip of a pullback, enabling uptrend continuations. This presents vital upside potential, with Myro sitting 68% from it’s all-time excessive.
Steph Is Crypto can also be bullish on Myro, highlighting a W sample formation on the 4-hour chart.
The dealer anticipates a transfer towards $0.1, virtually 30% from its present value.
Transferring to Bonk, famend analyst Kaleo expects “critical catch-up performs,” noting that Bonk is Solana’s largest meme coin and has a market cap considerably decrease than Shiba Inu’s, which is Ethereum’s largest meme coin.
In the meantime, TradingView analyst imanofsky7 expects Bonk’s run to proceed towards $0.0000231. From its present value of $0.00001424, this may equate to a 62% acquire.
The analyst notes that Bonk is buying and selling inside an ascending channel and exhibits energy on the assist degree.
Since he posted the evaluation, Bonk has gained notable momentum, climbing 29% from $0.000011.
However because the meme coin market gathers tempo, a brand new cross-chain sensation, Frog Wif Hat, is trying to steal the throne. After launching simply 12 hours in the past, the token has already seen a 143% enhance.
Frog Wif Hat leaps 143%
Impressed by Solana’s Dogwifhat token, Frog Wif Hat launched on Uniswap at present and is at the moment up 143%.
It initially noticed an much more spectacular returns however then pulled again and commenced consolidating, probably earlier than its subsequent leg up.
The token was issued as a good launch, with 100% of its complete provide instantly in circulation and the liquidity pool locked.
At present, Frog Wif Hat holds a $1.2 million market cap.
Whereas impressed by Dogwifhat, Frog Wif Hat affords a French-esque spin, swapping out the beanie for a beret. Additionally it is “all the time carrying a baguette, usually grumpy or drunk, regularly chain-smoking whereas displaying a deep disdain for People, ‘e’s crypto’s moodiest toad.
This playful twist affords a singular tackle the meme coin mannequin, offering a refreshing different to present tasks.
Moreover, Frog Wif Hat is launching on Solana utilizing Portalbridge.com.
Regardless of its early stage, these components have drawn notable consideration, with over 1K purchase orders already rolling in.
And with the meme coin market on a tear, FWIF’s present consolidation interval will seemingly be short-lived.
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