Following a volatile week in the crypto market in which many major coins saw gains before dropping, Solana has emerged as one of the biigest winners. It has pumped 16.7% this week as it nears a $9 billion market cap, meaning SOL is currently priced at $21.57 after bouncing from lows of $12.76 in June.
The project has risen 2% in the last 24 hours while other top 10 coins have remained stagnant.
Solana’s strong performance against USD, BTC and ETH was highlighted by prominent Crypto Twitter analyst @Pentosh1 recently.
The influencer posted technical analysis ideas showing SOL forming double bottoms against BTC, ETH and BNB, as well breaking a bearish trend line against USD. Since then, the price has broken out further, confirming Pentosh1’s theory.
Solana was labelled a security by the SEC at the beginning of June; subsequently, Robinhood announced it would delist the coin and sell any SOL left on its exchange on 27 June. This caused significant sell pressure in anticipationof the sell off, pushing its to lows of $12.76 on 11 June.
However, Sean Farrell, head of digital asset research at data firm FundStrat, believes this could have caused Solana to become “super oversold”, which is why the price has strongly recovered in the last week.
Meanwhile, Avalanche has enjoyed a similar feat, pumping 8% in the last day, putting its market cap at $4.7 billion and making it the sixteenth largest cryptocurrency. Volume has also spiked for AVAX, climbing 60% in 24 hours to $228 million.
The recent increase in volume has mainly been buying pressure, with the current daily candle showing strong bullish momentum,
Still, the $13.6 – $14 range for AVAX has acted as
strong support and resistance recently, making it difficult for the price to continue to climb.
Wall Street Memes Also Bullish as it Surges Past $13 Million
While Solana and Avalanche have been two of the strongest large-cap cryptos, Wall Street Memes has recently emerged as one of the most bullish low-cap gems.
The project is currently in its presale, having raised $13.4 million in just a couple of months. At the moment, investors can buy $WSM for $0.0313, but this is set to rise incrementally throughout the remainder of its presale.
Wall Street Memes is a meme coin launched by the largest crypto memes community on the internet, with over one million followers across all platforms. The team previously launched the Wall St Bulls NFT collection in 2021, which sold out in just 32 minutes, raising $2.5 million.
The presale has piqued the interest of investors because Wall Street Memes’ social media accounts reach far and wide, followed by countless celebrities – and have even received engagement from Elon Musk.
In celebration of the presale, the Wall Street Memes team are running an airdrop worth $50K. The prize will be split between “5 lucky degens”, and the community will each get up to seven entries into the airdrop by completing simple tasks like following Wall Street Memes on Twitter.
Having launched just over a month ago, Wall Street Memes has proven to be one of the most popular new meme coins. However, the presale is nearing its halfway mark, so investors must act fast to secure $WSM for the best price.
