Solana Price Prediction: As SOL Pumps 6%, This SOL Airdrop Meme Coin Hints At A New Top-Tier Exchange Listing

The Solana worth surged 6% within the final 24 hours to commerce at $153.97 as of 03:22 a.m. EST on buying and selling quantity that soared almost 1% to $2.2 billion.

This comes as FTX introduced that it has realized sufficient funds to repay its victims of the trade’s 2022 fallout. FTX had earlier proposed to make this reimbursement after promoting off its belongings, which embody a big portion of SOL.

FTX TO FULLY REIMBURSE CREDITORS

FTX has introduced in a courtroom submitting that it’ll not solely repay the $11.2 billion owed to its collectors but additionally probably present supplemental curiosity funds.

With belongings starting from $14.5 billion to $16.3 billion, the trade can cowl… pic.twitter.com/LH6tvuhCGk

— Crypto City Corridor (@Crypto_TownHall) May 8, 2024

With the sell-off considerations now gone, SOL appears to be like poised for a rebound, which might wipe out $125 million in brief positions if Solana’s worth rebounds by 5% to $157.

Solana Value Set For A Rally Over The Inverse Head And Shoulders Sample

In accordance with GeckoTerminal, the Solana worth rose dramatically in March, registering a 70% improve to a yearly excessive of $209.71 on March 18. Since then, SOL has not been in a position to reclaim this excessive, because it went via a consolidation section that lasted till mid-April.

The bears confirmed dominance, breaching the $177 help as SOL dropped additional to the $125 help. SOL’s worth current actions within the final two weeks have shaped an inverse head and shoulders sample, because the bulls purpose to push the worth over the neckline at $159.

SOL trades gracefully above the 50-day and 200-day Easy Shifting Averages, affirming the bullish potential of the worth.

Furthermore, the readings on the Relative Energy Index (RSI) point out a shopping for frenzy, with the RSI rebounding from the oversold ranges because it heads in direction of the 70-overbought area, presently at 62, exhibiting intense shopping for stress.

The Shifting Common Convergence Divergence (MACD) helps the bullish sentiments, with the MACD (blue) line crossing above the sign line (orange), which kinds a bullish crossover. A bullish crossover typically encourages the bulls to purchase extra.

Moreover, the inexperienced bars are starting to kind over the zero line, signaling the beginning of a breakout to the upside in direction of optimistic momentum. The Common Directional Index (ADX) trades above the 25 degree, presently at 26, a sign of a powerful bullish pattern.

Solana Value Prediction

The Solana long-term worth evaluation signifies that SOL bulls are poised to push the worth increased, as they purpose to capitalize on the inverse head and shoulders sample to push the worth increased as they purpose for $200.

Nonetheless, if the bears take management of the worth at this degree, SOL might go down via a retrace to the subsequent help at $145.32, which coincides with the 50-day SMA.

Because the SOL worth bulls purpose to push the worth increased, traders are additionally shopping for Solana meme coin $SMOG, which is hinting at one other top-tier trade itemizing quickly.

SMOG: The Greatest 100X Coin To Purchase Now?

Smog (SMOG), has been steadily gaining traction since its launch, pushed by its modern strategy to incentivizing token holders and fostering neighborhood participation via its airdrop program, which it vows shall be ‘the best in historical past.’

This technique is designed to reinforce consumer engagement and reward energetic contributors inside the Smog ecosystem.

One #Memecoin to rule all of them! 🚀

Prepare for the best #Airdrop in historical past, distributed on #Solana. 💰

Be part of #SMOG on Zealy! 🔥

Hyperlink in Bio 🔗 pic.twitter.com/vsn4p5cSF4

— SMOG (@SMOGToken) February 8, 2024

The airdrop’s season 1 rewarded $SMOG token holders who joined the venture’s questboard on Zealy and accomplished day by day quests and neighborhood duties for XP. The primary season ended with a snapshot taken on April 3 and giveaways amounting to about $1 million.

That very same day, the staff introduced the token’s itemizing on the MEXC centralized trade (CEX), including that it’d open the door for one more top-tier trade itemizing.

We’re thrilled to announce that the @SMOGToken Kickstarter has concluded and $SMOG shall be listed on #MEXC!

🔹Deposit: Opened
🔹SMOG/USDT Buying and selling within the Innovation Zone: 2024-04-04 09:00 (UTC)

Particulars: https://t.co/3ecyvrTv2n pic.twitter.com/kvgoFiYOib

— MEXC (@MEXC_Official) April 4, 2024

Season 2 of the airdrop started thereafter and is presently ongoing, with the main target shifting to on-chain exercise.

Traders also can earn passively by staking $SMOG tokens for an annual proportion yield (APY) of 42%.

Purchase or stake your ERC-20 $SMOG #Tokens via our platform. 💰🐉

Staked tokens are securely locked for 90 days, with rewards obtainable for withdrawal at your comfort. 🔒💸

Each token bought through our service is routinely staked for you. 🔄

🔗https://t.co/8dPFpww1Ub

— SMOG (@SMOGToken) February 22, 2024

In accordance with 99Bitcoins, a distinguished crypto YouTube channel with over 700,000 subscribers, $SMOG has the potential to surge 100X after launch.

With the token’s improvement staff hinting that one other top-tier trade itemizing is within the works, now is likely to be an opportune second to seize tokens earlier than they grow to be much more extensively obtainable.

The perfect place to purchase Smog tokens is on its official web site right here, the place there’s a 10% low cost whereas the supply lasts.

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