Solana (SOL) rally to $100 could benefit BONK, Memeinator
Solana price is up 30% in 24 hours as bulls look to strengthen above $70.
Meanwhile, Bonk (BONK) has hit a new all-time high amid the bullish SOL outlook.
Is the Memeinator (MMTR) likely to benefit from a resurgence in meme coins like Bonk?
Solana traded to above $72 on Friday morning, with SOL price gaining more than 13% in the past 24 hours to pierce a level last seen in May 2022. Solana’s price was hovering at 19-month highs, with bulls boasting a more than 800% spike since SOL flipped higher from lows of $8 in late December 2022.
Could this surge for SOL cascade to Solana ecosystem meme coin Bonk (BONK)? What would a surging BONK mean for Memeinator (MMTR)?
Solana (SOL) price could surge to $100 in coming weeks
Analysts are predicting the 6th ranked cryptocurrency could continue an upside trajectory towards the $100 mark.
A look at the charts shows SOL/USD has notched 7 green weekly candles out of the last 8, and on the monthly chart, its four consecutive greens for the first time since SOL rallied higher with five straight greens from July to November 2021.
Solana price on the weekly chart. Source: TradingView
With buy-side pressure likely to mount amid key network growth and price action, the former BitMEX CEO Arthur Hayes’ bullish call for Solana to $100 could be on the cards. While that may not happen this weekend, strengthening above $70 could bulls the foundation to assault the higher levels.
If bears manage to poke their nose into bulls’ business in the short term, then a bearish retest of support could be possible for the range of $60-$55. Below that is the $50 level which will likely act as a robust support area.
Bonk (BONK) – Solana-based meme just hit new ATH
Bonk (BONK) is a Solana-based dog-themed meme coin that has seen significant gains over the past few weeks. Within the Solana ecosystem, BONK stands out as one of the top performing coins, rising over 200% in the past week.
Over the past 30 days, this meme token has jumped over 1,000%. The past 24 hours have seen BONK rise 30%, hitting an all-time high of $0.00001224 on December 8. This came as trading volume reached $200 million and up 137% in the last 24 hours.
BONK was launched last year and struggled for any community traction as the meme coin space experienced a dip. However, with interest in Solana rising over the past few months as investors took positions around the layer 1 blockchain, BONK benefited.
Should the bullish sentiment around Solana continue, and meme coins like Dogecoin, Shiba Inu signal a return of the meme coin glory days, BONK price could take a few zeros off the price level.
Memeinator price prediction – will MMTR catch the meme coin resurgence?
The Memeinator (MMTR) is a new meme token looking to leverage artificial intelligence (AI) in the quest to emerge as the top meme coin. While the token has yet to launch, its presale is attracting a lot of attention from investors.
Memeinator’s whitepaper highlights potential utility via gaming, non-fungible tokens (NFTs), decentralised applications (dApps) integration and staking. As alluded to on the presale page, the MMTR is a token designed to clean the meme coin world by targeting weak meme tokens.
The project hopes to capture a $1 billion market cap by overtaking low or no utility. This has the investor community primed, with a resurgence in meme coins like Pepe, Bonk and Floki likely the reason the Memeinator presale has raised over $1.75 million already.
Recent updates like a massive 129 million MMTR burn and launch of staking is likely to see further interest as the presale moves towards a close.
Once it launches on major exchanges, the price of Memeinator could rise significantly, with buyers who get in at the current $0.014 price potentially adding to the 250% increase the token will see through the remaining presale stages as it rises to $0.049.
If market conditions align for a bullish rally in 2024 when MMTR launches, this token could target $0.1 in the year and $0.5 to $1 by end of 2025.
Find out more before you invest on the Memeinator social media pages or their website.
