Solana Price Leap Toward $200 Staging Bullish Path for WIF, BONK and MEW

coingapePublished on 2024-07-22Last updated on 2024-07-22

Abstract

The cryptocurrency market is experiencing a significant shift in momentum as the Solana price hurtles towards $200. This increase is boosting investor confidence and creating a positive outlook for related…

The cryptocurrency market is experiencing a significant shift in momentum as the Solana price hurtles towards $200. This increase is boosting investor confidence and creating a positive outlook for related tokens like WIF, BONK, and MEW.

SOL price surged 15% in the last seven days, including a 3.2% increase over the previous 24 hours, to trade at $177.05. While Biden-related coins are tanking after his dropping out of the presidential race, WIF, BONK, and MEW are gearing for further gains.

advertisement

Solana Price Finds Support to Bounce Off to $200

Solana Price ChartSolana Price Chart
Solana Price Chart

SOL price forecast shows the asset recently broke out of a double bottom, securing 21% gains before retracing after encountering resistance around $185. The price of the asset is trending above the 200-day and 50-day simple moving averages (SMA), confirming that SOL is still in an uptrend.

Solana price technical indicators present a bullish scenario for the asset, with the relative strength index (RSI) sitting at 64.36, just 5 points shy of the overbought (OB) area. The RSI 14-day moving average is trending lower at 57.10, indicating the bullish momentum on Solana is increasing and will peak soon. The Chaikin money flow (CMF), which shows an asset’s buying and selling pressure, indicates SOL buying pressure is at its highest since March 2024.

A break above the $185 resistance level may catapult SOL back to the previous yearly high of $210 in a 19% move. Alternatively, if the bears prevail, Solana may find further support lower around $150, $134, and $120.

The recent and potentially upcoming surge in the price of Solana has sparked a rally for select Solana meme coins on the network. Cat in a dogs world (MEW), Bonk (BONK), and Dogwifhat (WIF) are all showing signs of surging higher.

MEW Price Surges 32%, Volume Indicates More Upside

<yoastmark class=<yoastmark class=

MEW price recently broke out of a three-month consolidation zone, establishing a new all-time high of $0.007790. The price is trending above the 50-day SMA, a confirmation that the asset is in an uptrend.
Furthermore, the MEW price has formed a double bottom, a trend-reversal pattern. 

The RSI and CMF indicate that the price of MEW is overbought and due for a retrace soon. From the price chart, the correction may set the MEW price on the top boundary of the range, which may serve as a bounce-off point for extended gains.

If the bears push the correction lower, the MEW price may re-enter the range, finding support around the $0.004265 (50-day SMA). 

The current MEW price surge coincides with an increase in the trading volume of the asset. This indicates the asset is bullish and may continue heading upward.

Bullish Solana Price Nudges BONK to Go on A 300% Rally

BONK priceBONK price
BONK price

The Solana price has also influenced BONK. The asset is gearing up for a massive breakout that may set it far above its previous all-time high. Recently, the price surged by 25% after the DAO received a proposal to burn approximately 83.9 billion $BONK tokens from its treasury.

According to CoinGecko, BONK’s 24-hour trading volume is up 27%, which, combined with the increasing price, confirms the bullish trend may extend. 

Bonk price chart sports a gigantic ascending triangle that spans almost 6 months. Currently, the BONK price is headed to test the horizontal resistance for the third time, which usually results in a breakout. If bulls maintain the pace, BONK may break out and surge 300% to $0.0001824.  

This Trend Reversal Pattern Confirms WIF Price May Break ATH

WIF Price chartWIF Price chart
WIF Price chart

WIF’s price has increased by 10% in the last 24 hours, bringing its market cap to $2.7 billion. The recent surge in price completes the second leg of a double-bottom pattern, which is synonymous with a trend reversal from bearish to bullish. 

The price of WIF remains at about 47% of the gains needed to complete the chart formation. This will put it at $4.06, slightly below the previous all-time high. The recent price spike also may have put WIF back into a significant consolidation zone between $3.5 and $2.3. This will be confirmed if the WIF price action gets rejected at the $3.5 resistance zone. 

If WIF bulls push through and break the resistance, WIF may reclaim its previous ATH price of $4.86 before entering the price discovery zone.

Conclusion

The Solana price surge towards the $200 mark has created a ripple effect in its ecosystem, paving a potentially bullish path for associated meme coins WIF, BONK, and MEW. This upward momentum in the Solana network is boosting investor confidence, which in turn is spilling over to these popular Solana-based tokens. As SOL gains strength, WIF, BONK, and MEW seek double-digit percentage gains.

Frequently Asked Questions (FAQs)

1. What are Solana meme coins?

Solana meme coins are cryptocurrencies on the Solana blockchain, usually created as jokes or for fun. The mostly enjoy price

2. Is Solana price bullish or bearish?

The Solana price shows bullish signs as it aims to rally past $200.

3. Which are the best Solana meme coins to buy?

WIF, BONK and MEW stand out as some of the best solana meme coins to buy for investors seeking significant gains.

Related Articles

Evans Karanja is a content writer and scriptwriter with a focus on crypto, blockchain, and video gaming. He has worked with various startups in the past, helping them create engaging and high-quality content that captures the essence of their brand. Evans is also an avid crypto trader and investor, and he believes that blockchain will revolutionize many industries in the years to come. When he is not writing, you can find him playing video games or chasing waterfalls.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Trending Cryptos

ctr
CitreaCTR
wstusdt
wrapped stUSDTWSTUSDT
apr
aPrioriAPR
ctx
Cryptex FinanceCTX
audio
AudiusAUDIO
comp
CompoundCOMP
mantra
MantraMANTRA
waxl
AxelarWAXL
bill
Billions NetworkBILL
pyth
PYTH (Pyth)PYTH
rune
THORChainRUNE
velodrome
Velodrome FinanceVELODROME
brev
BrevisBREV
cake
PancakeSwapCAKE
jst
JUSTJST

Related Reads

In Conversation with Ray Dalio: We Are Currently in an AI Bubble, with 1% of My Portfolio in Bitcoin

Ray Dalio, founder of Bridgewater Associates, warns in an interview that the current AI boom shows classic bubble characteristics, which could lead to significant economic downturns as seen in past cycles like 1929 or 2000. He explains that speculative enthusiasm, fueled by debt and overvaluation, often precedes a crash when rising rates or taxation force asset sales, causing widespread losses and recession. Dalio also outlines his "Big Cycle" theory, describing an approximate 80-year pattern where widening wealth gaps, massive government deficits, and shifting geopolitical power (like China's rise) create internal conflict and global instability. He emphasizes that we are in a late-cycle, transitional phase where traditional powers like the US and UK face decline. For personal wealth protection, Dalio advises diversification beyond cash into assets like stocks, bonds, real estate, and particularly gold, which he prefers over Bitcoin. While he holds about 1% of his portfolio in Bitcoin as a non-printable hard asset, he views gold as more secure from technological or governmental threats. Regarding AI's impact, Dalio believes it will disproportionately benefit capital owners, worsening inequality by replacing both physical and cognitive labor. He suggests that human intuition and emotional intelligence, combined with AI, will be key for future workers. On taxation, Dalio argues that wealth taxes are impractical and risk triggering asset sell-offs, reducing productive investment. He points to the UK as a cautionary example of debt, low productivity, and political strife. Geopolitically, Dalio foresees a more regionalized world, with the US showing weakness in prolonged conflicts like with Iran, akin to past imperial declines. The ideal outcome, he suggests, is coexisting powerful blocs (e.g., Americas, China-Asia Pacific) without major war.

marsbit3h ago

In Conversation with Ray Dalio: We Are Currently in an AI Bubble, with 1% of My Portfolio in Bitcoin

marsbit3h ago

Daily 7.2 Trillion KRW: Foreign Capital's Record Net Buying on Friday! Wall Street Says Headwinds for Korean Stock Fund Flows Have Subsided

South Korean stock market sees a dramatic shift in fund flows. On July 31, foreign investors made a record net purchase of approximately KRW 7.2 trillion in KOSPI stocks, marking a fundamental reversal from the persistent large-scale net outflows seen in previous months. This contributed to a significant narrowing of foreign net selling in July to KRW 9.8 trillion, down sharply from KRW 48.4 trillion in June and KRW 44.5 trillion in May. Simultaneously, domestic institutional pressure eased. South Korean pension funds and asset managers turned to a net buying position in July, purchasing KRW 1.0 trillion worth of KOSPI shares, contrasting with net sales in May and June. Market volatility is expected to be dampened by new financial regulations. Effective July 31, the Financial Services Commission tightened access for retail investors to single-stock leveraged ETFs by raising the minimum cash deposit requirement. Trading volumes for these products subsequently dropped to about 50% of their monthly average. Citigroup Research maintains its year-end KOSPI target of 10,000 points. The firm cites several supportive factors: the substantial easing of headwinds from capital outflows, a robust fundamental outlook for the semiconductor sector, historically low market valuations, strong economic fundamentals, and the potential for policy support from financial authorities if needed.

marsbit3h ago

Daily 7.2 Trillion KRW: Foreign Capital's Record Net Buying on Friday! Wall Street Says Headwinds for Korean Stock Fund Flows Have Subsided

marsbit3h ago

Breaking! OpenAI's Next-Gen AI Solves 10 Fields Medal-Level Problems

OpenAI's next-generation AI model Astra achieves breakthroughs in 10 long-standing mathematical conjectures. The results, including constructing the first known infinite, finitely presented non-sofic group—resolving a major question since 1999—and advancing the high-dimensional sphere packing problem beyond a 46-year-old barrier, are detailed in a 249-page paper. Key proofs have been formally verified using Lean 4. The AI also refuted a rigidity conjecture by Fields Medalist Alain Connes. According to OpenAI, generating these proofs cost under $2,000. Experts describe the findings as potentially Fields Medal-worthy and a landmark moment for both mathematics and AI, showcasing the model's ability to produce profound, human-like reasoning across diverse fields like group theory, geometry, and operator algebras.

marsbit5h ago

Breaking! OpenAI's Next-Gen AI Solves 10 Fields Medal-Level Problems

marsbit5h ago

How to Make Yourself Irreplaceable by AI Forever

This article argues that the primary threat from AI is not job replacement, but remaining trapped in "wage slavery"—financial dependence on employers. The path to becoming irreplaceable is not resisting AI, but becoming an "unemployable" individual who builds their own meaningful enterprise. The author identifies five key elements for this: Agency (acting without permission), Taste (judging what's worthwhile), Persuasion, Persistence, and Iteration. The solution is to stop being a "pawn" in someone else's game. To start, you must fundamentally change your identity and environment, then engage in rapid, real-world trial and error. While both coding and creating media (content) are powerful, content is more crucial. AI can generate assets, but true value lies in subjective, human-driven content that builds trust and narrative. The actionable advice is to carve out 15 minutes to answer foundational questions: 1) Uncover your "raw material"—what you know deeply or solve effortlessly. 2) Define your contrarian perspective—what common beliefs you think are wrong. The intersection of these answers is your direction. Finally, you must launch by publishing your first core idea immediately, using the feedback to iterate and develop the skills needed for a self-directed life and career.

marsbit5h ago

How to Make Yourself Irreplaceable by AI Forever

marsbit5h ago

Thanks to Dice Rolls, Bitcoin Keys Are Stored Offline, But Not Everyone Will Do It

The article discusses using dice rolls to generate secure Bitcoin wallet seeds, providing entropy independent of potentially flawed hardware random number generators. It explains that each fair dice roll offers about 2.585 bits of entropy, with around 50 rolls needed for a standard 12-word seed phrase and 99+ recommended for higher security. This method gained attention after a vulnerability was revealed in some Coldcard hardware wallets, where a faulty firmware RNG (dating back to 2021) compromised generated keys. The analysis notes that while a dice-generated main seed was safe from this specific flaw, other Coldcard functions (like creating paper wallets, backup keys, or passwords) could still be vulnerable if they used the defective RNG. The piece argues that while dice-based entropy is technically robust, the manual process is error-prone, tedious, and unrealistic for most new users, who might make mistakes in recording or inputting rolls. It concludes that while manual entropy generation should remain an option for advanced users, the long-term goal is to develop reliable, user-friendly hardware and software that securely generates randomness without requiring specialized knowledge. Coldcard users are advised to check their firmware version and replace any secondary secrets (like paper wallet keys) created with vulnerable devices, while also considering multi-signature setups with devices from different manufacturers for added security.

cryptonews.ru8h ago

Thanks to Dice Rolls, Bitcoin Keys Are Stored Offline, But Not Everyone Will Do It

cryptonews.ru8h ago

Trading

Spot

Hot Articles

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of SOL (SOL) are presented below.

活动图片

Top Questions

Hot Categoriesright-arrow

Hot Tagsright-arrow