Solana Price Prediction: SOL Analysts Sense $300 In Q4 As Meme Coin Investors Buy More Pepe And Viral New Meme Coin
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/Cutoshi/ – After Bitcoin, Solana is close to reaching an all-time high after 8 months of correction. SOL started the rally on the 5th of November from a low of $156.7 and has risen around 57% to the current level of $241.
Meanwhile, the meme coin sector has gained momentum as Dogecoin is leading the current phase of the market. Pepe has given triple-digit returns while emerging projects like Cutoshi have become viral all over the crypto community. Cutoshi is expected to scale rapidly due to its great fundamentals and unique positioning in the market.
Solana Faces Local Resistance After Flag Pattern Breakout
Last week, Solana formed a tight flag on the daily pattern, giving a Sunday breakout. However, the pattern breakout’s follow-through has failed as it faces resistance near the $250 resistance level. In the last two sessions, price action has been contained in the $234-$250 range; the breakout on either side will decide further price direction.
According to Nansen’s latest data, Solana (SOL) has surpassed Ethereum (ETH) as the most used blockchain. User activity on Solana has soared in recent weeks, hitting a record 6.3 million active addresses in November. The network has also experienced a spike in token creation, fueled largely by the growing popularity of meme coins. Step Finance reported that 322,000 new tokens were created on Solana last week alone, highlighting the impact of this meme coin frenzy.
PEPE Retraces Nearly 25%, 10-DMA Local Support
Pepe (PEPE) has performed remarkably in the memecoin sector, with an impressive price surge over the past week. It has also shown substantial gains on monthly charts. The PEPE price has retraced below $0.00002 after the rally, showing a pullback of nearly 25%. The major support in the charts is the 10-day moving average. Also, the current support is $0.0000196, which is an important level for the short term.
The pullback started with a shooting star candle with a high of $0.000025, followed by six bullish correction candles. PEPE has formed a bullish flag pattern within PEPE’s ongoing 2024 uptrend, highlighting its growth potential. If the broader market recovers, PEPE could reach the upper resistance of the pattern for a breakout. However, if the price dips, $0.000018 is expected to be the monthly low.
Cutoshi Demand Skyrockets Amid Meme Coin Frenzy In The Market
Cutoshi (CUTO) has surpassed expectations in its third development stage, and there is growing speculation that it could join the ranks of top-performing coins. This buzz is fueled by its innovative MemeFi platform, which combines education with rewards in DeFi activities. At the same time, Cutoshi stays true to core DeFi principles like privacy, decentralization, and financial freedom.
Last week, Cutoshi took the spotlight by trending as the #1 topic globally and in the US on X, drawing a surge of followers to its social media. The project also launched community quests and challenges, allowing participants to earn extra tokens by creating memes, engaging in chats and more.
Cutoshi sets itself apart by merging meme culture with real DeFi utility. Its decentralized exchange (DEX) simplifies cross-chain trading, ensuring robust security and privacy while making transactions effortless.
With a unique token farming model that rewards users for completing community-driven tasks, Cutoshi has already raised over $900,000 in presale revenue. Its on-chain academy further enhances its appeal by offering users an engaging way to learn about DeFi. Positioned to rival meme coins like PEPE, Cutoshi delivers fun and functionality, redefining the meme coin space.
For more information on the Cutoshi (CUTO) Presale: Website.
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