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Over the weekend, Solana’s ecosystem showed a notable uptrend. This indicates a bullish mood for this sector. The SOL-based tokens also showed a bullish trend, indicating a price increase for the tokens.
In the last 24 hours the price of WIF, the most popular memecoin, has increased by 23.14%, while the price of BONK has gone up 31.80%, showing the growing interest from investors.
The token that has risen over 10,000% in 2023 to claim the title as the most successful of all the tokens, is the Price of BONK The portfolio has grown by over 100 percent since the beginning of this year.
The BONK Memecoin, on the other hand, is about to test its highest level. Its outcome is uncertain. The memecoin market has shown a bullish trend since the Bitcoin halving. This indicates that a Memecoin Mania is likely to occur in the coming months.
Moving Average Convergence Divergence, or MACD (moving average convergence divergence), displays a green histogram that is rising. This indicates an increasing bullish power in the crypto markets. The averages also show bullish convergence which indicates a positive outlook in the future for altcoins.
Bulls who push the BONK above its resistance level $0.0000377 will test it and continue to rise. In the opposite direction, a bearish price movement may push the price towards its $0.0000129 support level.
Dogwifhat
The launch of the Dogwifhat Price Investors have been discussing action constantly. The memecoin’s growth has been positive, with a 2,107% increase since its launch, showing a great potential in the long term.
The dogwifhat has gained approximately 50% in price over the last 30 days, despite a market trend that is bearish. The Simple Moving Average (SMA), which acts as support for the price chart in cryptocurrency, also indicates a bullish trend.
MACD is a technical indicator that shows constant price declines in red, which indicates increased market activity for memecoin. The averages also show a bullish cross-over, which indicates that the price is likely to continue increasing in value.
The bulls are preparing to take on the upper resistance of $3.90 this weekend if the WIF holds above its support level $3.050. If the bears are stronger than the bulls then the price may fall to its $3.050 support level.
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Elena R.
Elena has a wealth of experience in the cryptocurrency industry, particularly in risk management and technical analysis. She is a journalist with 10 years of experience.