While analysts are warily watching the cryptocurrency market, coming off a week of significant long-bet liquidations and worries about severe value drop-offs, Solana's meme coins are powering ahead.
As many investors and traders are taking a cautious wait-and-see approach, some altcoins are completely defying the current trend. Solana meme coins in particular are creating a big buzz, and are attracting a lot of activity. These are drawing users away from established favorites like Tron and Dogecoin.
Solana's meme coins are becoming exceptionally popular, due to the benefits they offer over others provided by Ethereum and Binance, for instance. Their lower transaction fees, faster processing, and more scalable performance make them extremely attractive.
They're especially favored by gamers who can use their accounts to make in-game purchases at crypto game platforms. On the other hand, online casinos like Solana dice platforms that accept specific cryptocurrencies, are also reaping the rewards as player numbers increase, thanks to the increasing popularity of more niche altcoins. These kinds of platforms are becoming increasingly popular since they enable benefits like faster payouts and more private transactions.
Solana Poised for a Breakout Quarter?
Solana's stable of altcoins has shown resilience during the early September market lull. WIF (Dogwifhat) is currently the strongest of its traditional altcoins, even as it experiences some wild swings in the $1 to $2 range.
It's had a solid 8% gain over the last month, after dipping in the period just prior. Traders are expecting a mini bull run, as its RSI sits at around 44, which indicates that it's still under-bought. On the whole, analysts believe that Solana could soon see a price surge of around 25%, taking the company through the $160 mark.
Its strength against other meme coins is notable. For example, TRON (TRX) is also showing signs of confidence, having grown by around 21% compared to the last month. Still, it's trading way below WIF at an average of $0.16, indications are that it could break through the $0.17 ceiling, which would be another short-term gain of roughly 10%.
Dogecoin is having a shaky time of it, struggling to surpass $0.11. It's shed about 46% of its value over the last six months, and while this indicates that there is room for improvement, this could still be a way off, if at all.
Solana's BONK declined by 20% in the previous month, with its value at a miniscule $0.000015 and $0.000019, compared to the rest. However, its 10-day moving average is trending positive, and some traders are starting to see it as a strong source of potential value.
PlayDoge is a fast-rising up-and-comer. This next-gen Solana meme coin is quickly attracting a lot of trust and activity, mainly due to its strong emphasis on building a community through transparent communications on social media platforms like Telegram. In the wake of high-profile hacks, trusted platforms are seemingly getting harder to come by.
Dogen, the New Solana Powerplay
Dogen is the Solana meme coin that is grabbing most of the headlines. It saw a whopping 700% push during presales, with this momentum appearing to show no signs of slowing down. In fact, some traders are eyeing up to a 1000% return on Dogen investments. It's expected to reach the popularity of other Solana meme coins like the hugely successful BONK, Popcat and WIF.
These are ambitious targets, given that Popcat grew by almost 15,000% in the eight months since it was released, with WIF gaining 10,000% in just a month more. BONK's growth was a bit less spectacular, coming in at 7,000% over the period of its first year.
These extraordinary numbers put Solana firmly on the cryptocurrency map, and Dogen's arrival comes at a time when Bitcoin's market dominance slipped lower than it did in May. This has created more appetite for alternative crypto coins.
Solana's very active user community and solid ecosystem are the mainstays of its meme coin success. These playful, game-inspired animal-themed tokens have created their own niche in the cryptocurrency market, and are wildly popular.
The Dogen meme coin carries high-investment value potential, on top of its initial 700% presale surge. It has strong HODL credentials, designed to withstand market volatility. Community perks are a central feature, and early holders are well-rewarded. This includes referral bonuses, staking opportunities, and airdrop rewards that earn extra free Dogen tokens.
Solana is promising to make Dogen meme coins even more accessible, through its upcoming DogeTap app. This will provide more staking options that create new ways for users to enhance their earnings. Dogen aims to create the potential for high rewards through community-driven growth, both in the form of short-term gains and longer-term returns on investment.
