Crypto Analyzer

Solana Price Prediction as SOL Meme Coins Go Viral – Here’s the Latest

### Solana Price Prediction: SOL Continues to Surge Amid Meme Coin Craze

#### By Simon Chandler
**Last updated:** March 4, 2024 06:24 EST | 3 min read

Solana (SOL) has been on a steady rise, with the price surging by 3% in the past 24 hours to reach $134. This upward momentum is attributed to the ongoing bullish sentiment in the market, driven by the Bitcoin ETF-related optimism. Over the past week, SOL has gained 32%, while its value has soared by 35% in the last 30 days and an impressive 530% over the past year.

Apart from the general market optimism, Solana has also experienced a surge in interest in meme coins running on its platform. This increased demand for SOL has further boosted its value. As a result, it is anticipated that SOL will continue to witness gains in the coming weeks and months, potentially threatening its all-time high.

#### Solana’s Price Momentum
The chart for SOL indicates a strong positive momentum in the near term. The relative strength index (RSI) has been steadily rising without becoming excessively overbought. Additionally, SOL’s 30-day average is on an upward trajectory, indicating an expansionary phase and maintaining a healthy distance from the 200-day average.

Although the 24-hour trading volume has slightly decreased from the previous week, it remains robust at around $3.5 billion. Despite some profit-taking activities by whales, the SOL market is resilient, supported by a consistently rising green support level which suggests any near-term dips are likely to be minor.

#### Increasing Demand for Solana-Based Meme Tokens
The uptrend in SOL’s value can be attributed to the heightened activity on its blockchain, primarily driven by the growing demand for Solana-based meme tokens. This trend is exemplified by traders realizing substantial profits through the trading of these tokens, further contributing to SOL’s strength.

As the market enters the alt season, characterized by increased interest in alternative cryptocurrencies following the surge in demand for Bitcoin, the current craze for meme coins is expected to intensify. Consequently, the prediction is that the Solana price will continue its upward trajectory, potentially reaching $150 by the spring.

#### High-Potential SOL-Based Meme Tokens
While SOL may be approaching overbought territory, the market is ripe with promising new tokens that could potentially rally further. Investors are advised to keep an eye on the evolving landscape of SOL-based meme coins for potential opportunities and continued growth in the cryptocurrency market.

In conclusion, with the ongoing meme coin trend and the broader market optimism, Solana appears poised for further price appreciation, making it a key asset to watch in the cryptocurrency space in the coming months.The crypto market is abuzz with excitement over the recent surge in Solana-based meme tokens, with one of the latest contenders capturing the attention of investors – Smog (SMOG). Listed on the Jupiter and Birdeye DEX aggregators just last month, Smog has seen an impressive price increase of nearly 5,000% since its debut.

The bullish price chart of Smog reflects its meteoric rise in the market, making it one of the best-performing new coins in its category. A key factor driving the interest in Smog is its innovative airdrop system, which offers rewards to investors based on their holdings. With a series of airdrops scheduled over the upcoming months, investors with larger holdings stand to gain more, thereby encouraging long-term investment in the token.

Smog has a total maximum supply of 1.4 billion SMOG tokens, with 35% allocated for airdrops. Additionally, holders have the option to stake the token, with a protocol that provides an attractive yield of 42% APY. The token’s ability to incentivize participation is further enhanced by engaging quests that invite holders to complete tasks and contribute to the growth of the Smog community.

For investors looking to get in on the action, Smog can be purchased through Jupiter or Birdeye, or directly from the official Smog website. As Smog gears up to be listed on other exchanges in the coming weeks, there is potential for further price appreciation, making it an enticing investment opportunity for those interested in the burgeoning world of meme tokens.

However, it’s important to note that investing in cryptocurrencies, including meme tokens like SMOG, comes with inherent risks. Cryptocurrency is a high-risk asset class, and investors should exercise caution and do their own research before making any investment decisions. This article is intended for informational purposes only and should not be construed as financial advice. It’s always crucial to be aware that there is a potential of losing all invested capital in the volatile crypto market.