Solana (SOL) has been on an absolute tear last month after surging by over 85%, leaving the rest of the top-20 ranked coins in its dust.
The cryptocurrency trades above $40, setting a fresh 13-month high as it recovers from the capitulation suffered during the FTX fallout.
With altcoin projects rising, traders are also looking to alternative projects that can pump next, with one standing out after raising over $1 million.
Solana Sees Epic Comeback Following FTX Fallout as VanEck Predicts 10,000%+ Surge
Solana has seen an epic comeback following the FTX fallout of November 2022 as it recovers all the incurred losses.
The Solana ecosystem suffered significant uncertainty during the FTX collapse as Former CEO Bankman-Fried had substantial investments in Solana-based projects, and the Solana Foundation itself had a large FTT treasury.
Despite this, SOL is up by 435% from the December 2022 lows and surged by an epic 80% throughout October, allowing the cryptocurrency to break back above $40 and set a fresh thirteen-month high.
The price surge allowed Solana to regain the seventh-ranked position, which currently holds a $17.8 billion market cap.
Recently, global asset manager VanEck stated that they expect SOL to increase by over 10,000% in its 2030 bullish scenario.
The firm, with over $75 billion in assets under management, stated that Solana would host the first DeFi app with 100 million users and expect the ecosystem to be monetized at 20% of Ethereum’s take rate – leading to the $3,211 bullish prediction.
SOL Analysis: Where Is Price Heading Next?
So, where is SOL heading next?
After surging by 80% over the past 30 days, SOL managed to break the previous 2023 highs at $32.25 and climb as high as $46.80 yesterday;
Looking ahead, the first resistance lies at $45.
Beyond this, additional resistance lies at $48.30 (August 2022 highs), $50, $55 (1.272 Fib Extension), $61 (May 2021 highs), and $65.30 (1.618 Fib Extension).
Higher resistance is expected at $70 and $73.10 (bearish .618 Fib Retracement).
Conversely, support lies at $40, $37.30, $35, and $32.25.
What Meme Coin Do Traders Think Can Pump Next?
While the crypto market continues to explode, investors are turning their attention to meme coins that could potentially pump next.
In particular, Meme Kombat (MK) continues to turn heads after raising over $1 million in its fundraising campaign.
The speedy rise to the $1 million milestone demonstrates the building momentum behind the project as investors predict 10x returns for early adopters.
Meme Kombat Brings Exciting AI-Fuelled Battle Arena to Ethereum With $1 Million Raised.
Meme Kombat (MK) is bringing an innovative gaming platform designed for meme enthusiasts to the Ethereum blockchain.
The project is a stake-to-earn meme coin with genuine utility through active betting and passive staking, rewarding everybody in the ecosystem.
Investors gravitate to the project as it combines the exciting world of memes with the competitive thrill of an explosive battle arena.
In addition, investors are increasingly confident in the project after the CEO doxxed himself – a stark contrast to traditional anonymous meme coins in the space.
Meme Kombat brings a new era to meme coin gaming through its battle-fuelled AI-powered arena.
The battles are between popular meme characters, engaging in automated battles with outcomes determined on-chain through randomized sequencing – making it unpredictable and provably fair.The smart contracts for the project have been audited by Coinsult – adding an additional layer of security.
The best part about the arena is that battles are brought to life using AI technology through dynamic visualization to add vivid elements to the gameplay.
As a result, players can enjoy watching battles between Pepe the Frog and the Dogecoin Dog as they duke it out for victory in the arena.
MK holders can stake and wager their tokens on the outcome of the battles, allowing them to win additional rewards.
The ecosystem introduces a wide range of betting options, allowing players to develop betting strategies based on risk tolerance and gaming preference.
Furthermore, those staking MK tokens earn 112% on their holdings – providing additional returns.
Users can purchase MK in the presale by swapping ETH, USDT, or BNB on the project’s website.
The presale is selling the token for a discounted price of $0.1833.
Notable influencers are building Meme Kombat as a disruptive force in the meme coin sector, with experts like Joe Parys labeling it as a Top 5 meme coin for 2024.
In addition, the project gained the attention of alpha callers, such as Crypto Whale Pumps on Telegram, a group with over 25,000 members.
Given its strong community backing and expert endorsement, Meme Kombat is touted to make a dent in the meme coin space, similar to the run of PEPE in May 2023.
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