Memecoins
Experts Suggest Solana Price Will Rise 300% in 2024 and This New Meme Coin Will Explode
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Solana has been the clear harbinger of this year’s bull run, with monthly trading volume hitting a new all-time high of $58.4 billion in March and prices as high as $200.
However, in recent weeks, trading has slowed and the price of the coin has dropped to just $135.
However, many expect this to be a temporary correction that will lead to a strong recovery. Renowned crypto expert Jacob “Crypto” Bury predicted that Solana could rise 3-4x in 2024 and outlined his reasoning in a recent X post.
He also highlighted Solana’s next meme coin that he thinks is set to explode, Dogeverso (DOGEVERSE)which is currently on pre-sale.
Solana’s price will increase by 300% this year
2023 was a difficult year for cryptocurrencies, with prices declining and then stagnating as trading activity declined across the board. The Solana blockchain has not been immune to this bearish sentiment; started 2023 at around $10, which is almost a tenth of the price she started 2022 at.
From here, it struggled to make serious gains until the end of 2023. The price jumped from $38 in November to surpass its psychological barrier of $100.
From there, we saw Solana rise to new heights, even reaching $200 (its all-time high was $260 in 2020). This was accompanied by a huge increase in trading volume, which reached $58.4 billion. Previously, the highest monthly trading volume was nearly $28.5 billion in December 2023.
April saw a slowdown, with just $35 billion traded. In parallel, the price fell below the $200 level to stabilize around the $135 mark. However, recent movements and analysis have prompted speculation that this price drop is not meant to last and that the price could increase by 300%.
The last 24 hours have seen a 12% price increase and positive candlestick patterns. Solana is currently priced at $137.40.
Jacob points out that Solana has jumped 500-600% since 2023, so a similar leap is quite possible. He also points out that even if Solana simply maintains its market dominance of 2.8%, as the cryptocurrency sector is expected to reach a $10 trillion valuation, this could see Solana’s market capitalization reach 280 billions of dollars.
This would lead to an increase from its current market valuation of $61.5 billion.
One of the main factors influencing Solana’s bullish sentiment has been the meme coin craze dominating the cryptocurrency landscape. Meme coins have dominated this bull run to become the most popular narrative in the first quarter of 2024. On average, meme coins have seen returns of $1,312.6 among the top tokens.
Most of this activity comes from Solana’s new meme coins. This has investors scouring the web for the next Solana meme coin to explode.
Dogeverse: Solana’s new meme coin is about to explode
In addition to predicting a strong Solana price rally, Jacob Bury also highlighted a Solana-compatible meme coin that he believes has high potential: Dogeverso (DOGEVERSE).
In a recent X post, predicted that there is a possibility of this cryptocurrency becoming another top 20 meme coin. Dogeverse is a new project and the first meme coin to operate on six major blockchains.
If Dogeverse enters the top 20 meme coins, Dogeverse will follow in the footsteps of recently launched meme coins such as BOOK OF MEME, Dogwifhat, and Bonk.
BOOK OF MEME had a hugely successful launch, with the token recording a 57,000% gain in three days. Many recently launched coins have seen similar returns.
Dogeverse is an exciting new multi-chain meme coin that can benefit not only from the success of Solana but also from the popularity of other chains such as Ethereum, Avalanche, and the newly launched Base chain. Base has spawned a number of viral meme coins, including Degen, which saw a 3000% increase in the first week after launch.
Dogeverse follows the adventures of Cosmo, the chain-hopping Shiba Inu at the center of the Dogeverse project. Dogeverse recently expanded to the Solana chain, attracting the attention of experts at all levels, including Jacob Bury. The token is currently on presale and has already raised over 13 million dollars.
Holders can stake the token to receive a generous staking return. The coin will work as a bridge between six major blockchains: Ethereum, Binance, Polygon, Avalanche, Base and Solana, meaning it will attract meme coin investors from across crypto communities.
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