The Solana price has made a remarkable bullish recovery over the past few days. With its price recording a local high of $179.01, the Solana ecosystem has experienced a significant uptrend within a short period.
Will the price of the SOL token act as a catalyst for these memecoins to dominate the upcoming crypto bull run? Dive in as, in this article, we have covered the price analysis of the top 3 trending memecoins of the Solana ecosystem.
By defying all the odds, the MOODENG price has surged ~42% in the past 24 hours with a trading volume of $495.42 million. Moreover, it has added 153.83% to its portfolio over the past week and 767.55% since its inception. This makes it one of the top picks for this list.
The Relative Strength Index (RSI) continues hovering over the overbought range in the 4H time frame. Further, the average trendline shows a constant rise in the MOODENG price chart. This suggests that the price may continue gaining value in the coming time.
If the market continues to favor the bulls, this could result in this SOL-based meme coin retesting its upper resistance level of $0.3025. On the contrary, if the bears regain momentum, the Moo Deng price may plunge toward its lower support level of $0.1755.
Goatseus Maximus (GOAT)
Built on the Solana chain, the Goatseus Maximus is the first project created by the truth terminal. Its native token “GOAT” has a solo mission of fulfilling the prophecies of the ancient memers. Notably, this project has grabbed significant attention within a short period.
Reportedly, it has had a total supply of 1,000 million GOAT tokens. Furthermore, with a 24-hour trading volume of $386.61 million and a market capitalization of $780.80 million, it has secured the 88th position in the global list.
Ponke (PONKE)
Despite recording a drop of ~2% in the past day, the Ponke memecoin has jumped 16.05% during the past month and has rewarded its long-term investors with a Year-to-Date (YTD) return of +403.64%. With a market cap of $225.14 million, it is currently listed at 194th position.
The Moving Average Convergence Divergence (MACD) has displayed a rising negative sentiment in its price chart. However, the EMA 50/200-day shows a bullish outlook. This suggests a mixed price sentiment for it in the crypto space.
Maintaining the price above its support level could set the stage for the PONKE price to retest its upper resistance level of $0.5890 during the upcoming time. Conversely, if the bearish reversal occurs, this could pull the price toward its low of $0.2195.
Also, read our Solana Price Prediction.
