Solana Continues Majestic Ascent After Shakeout, While $WIF and $BONK Join Billion Dollar Market Cap Club. Will $SMOG Be Next?
Solana continues its majestic ascent today after yesterday’s 10% market shakeout. The highly popular altcoin reached a high of $142.75 yesterday before a market wipeout caused it to spike as low as $110.
$SOL has since recovered, and a string of Solana-based altcoins, such as $BONK and $WIF, are now entering the billion-dollar market club as they also see impressive price hikes.
With Solana-based meme coins surging, experts believe $SMOG will be the next to enter the billion-dollar market cap club as its popularity continues to rise rapidly.
What you'll learn 👉
Solana Continues Climbing After Brief Shakeout
Solana has recovered after yesterday’s market wipeout as the cryptocurrency reclaims support at $130.
Solana had climbed as high as $142.75 yesterday, meeting resistance at a short-term 1.618 Fib Extension. From there, a market-wide shakeout caused Solana to spike as low as $110 as traders quickly fled their long positions.
Fortunately, buyers have returned to Solana today, allowing it to establish support back above $130;
Looking ahead, if the buyers continue pushing higher, the first strong resistance lies at $142.75. This is followed by resistance at $150, $155 (1.272 Fib Extension), $161.42 (1.414 Fib Extension), and $170 (1.618 Fib Extension).
On the other side, support lies at $130, $123.40, $110, $103.60, and $100.
$WIF and $BONK Join Billion Dollar Market Cap Club
While Solana surges, Solana-based meme coins also see magnificent exposure, with the market leaders entering the billion-dollar market cap club.
The latest addition to the exclusive club was dogwifhat ($WIF), which saw an extraordinary 200% price hike over the past week, allowing it to reach a market cap high of just under $2 billion.
The cryptocurrency was trading beneath resistance at $0.46 throughout the first start of 2024 until the breakout came at the end of February. Following the breakout, $WIF continued to surge this past week to reach as high as $1.90 today;
Looking ahead, resistance first lies at $2.00. This is followed by $2.41 (1.272 Fib Extension), $2.50, $2.65 (1.414 Fib Extension), and $3.00.
On the other side, support lies at $1.50, $1.32, $1.12, and $1.00.
$BONK is another meme coin sensation that recently re-entered the billion-dollar market cap club after a 150% surge this week;
Resistance lies at $0.00004, $0.0000435, $0.000048, and $0.00005.
Why Do Experts Think $SMOG Will Be Next?
As Solana-based altcoins steal the focus, traders are looking for newly emerging competitors to $BONK and $WIF that can follow their path with 100x returns.
In particular, Smog Token ($SMOG) continues to emerge as the strongest contender after the cryptocurrency surged by another 160% this week, allowing it to reach a market cap value of $105 million.
With another 10x potential on the table before reaching a billion dollars, traders are now eager to position themselves in any dips seen on $SMOG – if they come.
The project is bringing an airdrop spectacle to the Solana ecosystem, allowing token holders to accumulate airdrop points to be eligible to participate. As a result, traders are holding onto their bags and are very reluctant to let them go as they seek to accumulate more points for the airdrop – creating a solid floor for the market.
In addition, Smog Token offers a unique Zealy campaign that allows users to accumulate more airdrop points by completing specific tasks for Smog Token, such as following the project on Twitter and visiting particular web pages.
The Zealy campaign is garnering incredible traction after the team revealed that over 1 million quests had been completed, demonstrating the eagerness of the community to continue accumulating airdrop points.
With a strong marketing push behind the project, a highly experienced Web3 team, and a community with diamond hands, Smog Token is undoubtedly next in line to be the next candidate for entering the billion-dollar market-cap meme coin club.
The project can be purchased on both Ethereum and Solana blockchains. On Ethereum, the best place to buy the token is on the project’s website, using $ETH, $USDT, or a credit/debit card. Alternatively, it can be purchased on Jupiter DEX using $SOL.
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