Solana-based meme coins have caused significant market disruption, attracting substantial capital inflows during their presale. Over the past week, 33 Solana meme coins have collectively crossed the $150 million mark in fundraising, delivering substantial returns to early investors.
The presale events of notable meme coins, including Book of Meme (BOME), Nap (NAP), and Nostalgia (NOS) have exclusively contributed to the upward momentum of Solana’s ecosystem. Despite speculations surrounding this sudden upsurge in activity, presale meme coins continue to attract significant investor interest.
Solana-based meme coins surge past $150M within days
The meme coin rally commenced when the Book of Meme (BOME) presale concluded. Within a timeframe of less than 56 hours, BOME experienced a remarkable surge of over 36,000%, peaking at a market capitalization of $1.45 billion. After its listing on exchanges like Binance and Bybit, BOME has demonstrated a remarkable 1110% surge on the weekly chart.
This surge of interest has played a key role in drawing the focus of investors who missed the recent meme coin frenzy. According to ZachXBT, crypto traders have deployed around $150 million worth of SOL in an attempt to acquire new Solana meme coins adding to the success of Solana’s ecosystem.
Solana (SOL) Hit $200 mark amidst meme frenzy
The meme coin frenzy has contributed to a surge in SOL, with the price surpassing $200 for the first time since November 2021. As network activity continues to grow rapidly, Solana has seen a tenfold increase in trading volume, surpassing the success of Ethereum in terms of DEX volume.
With a minor correction phase, Solana is still trading above $172 with a 9% rise on the weekly chart. However, pessimistic sentiment is also prevailing due to rumors about fraudulent activities and denying SOL refunds to investors. Many analysts are discovering another best presale project that can show similar gains to unprecedented levels.
Algotech (ALGT) emerges as the best presale project after $2.4M raised
Algotech (ALGT) is emerging as the best presale project in 2024. The project has raised a shocking $2.4 million in the public presale stage 1, selling over 60 million ALGT tokens within two days. The project empowers traders to leverage automation and machine learning for unparalleled efficiency and accuracy in trading. Key features include:
Breakout Identification: Algotech’s tradFi platform helps traders watch for price breakouts from support and resistance levels, signaling potential opportunities for significant price swings.
Arbitrage Opportunities: With Algotech’s algorithmic platform, traders can capitalize on price discrepancies across exchanges for profitable arbitrage opportunities, thereby maintaining market equilibrium.
Momentum Trading: Traders can search for assets with high trading volumes and favorable price momentum to enter trades strategically according to prevailing market trends.
Mean Reversion: When an asset’s price moves away from its mean, traders expect a reversion to the previous level. Algotech’s platform can help them to make profits by trading when prices are too high or too low compared to usual.
Analysts voice optimism about ALGT hitting $1
Algotech is perfectly positioned to become a significant player, with the bull run expected anytime soon. With a projected moonshot, investors rush to buy Algotech at an entry price of $0.06 which can rise to $0.08 in the next presale round.
Market insiders predict the value of ALGT to surge past $1 before it gets listed on major CEX exchanges, indicating an explosive 1200% return on investments. This marks the prime time to be a part of the next big deFi project.
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