SOL Blockchain Attracts New Users Despite High ETH Gas Fees, Solana Price Prediction Rises

On Jul 12, 2023

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Solana (SOL) is seeing a significant surge in price prediction as the blockchain platform attracts new users. Solana offers an efficient and scalable alternative to Ethereum’s high gas fees. The growing popularity and robust infrastructure make it a good investment.

Is It a Good Time to Invest in SOL?

Due to SOL’s optimistic price prediction, many investors are considering buying it. Let’s talk about Solana and how it compares to Ethereum. Additionally, we’ll look at factors that could affect SOL’s price.

The price of Solana is $20.01 USD, with a 24-hour volume of $384 million. Solana’s value has increased by 0.22% in the past 24 hours.

Today’s price – $20.01
Market cap – $8.865 Billion
Circulating supply – 402,774,922 SOL
Total supply – 552,263,350 SOL
Coinmarketcap ranking – 9

Source: Coinmarketcap

Key Levels and Potential Price Movements: Monitoring SOL’s Daily Chart

The daily chart for SOL highlights essential levels. The price may encounter resistance around $26.23 if it keeps going up. Supportive buyers could lead to further gains, possibly pushing the price up.

A significant support level is anticipated if the price drops to $18.95, which could cause a significant decline. Even without breaching the support level, upward momentum is still possible.

SOL Blockchain Attracts New Users Despite High ETH Gas Fees, Solana Price Prediction Rises — Source: TradingView Daily Chart

Whenever the price breaks out of the established trading range, resistance levels are $30.75 and $26.23, while support levels are $18.95 and $14.12.

Maintaining the price above the 7-day and 14-day moving averages is critical to a potential upward surge beyond the trading range, potentially pushing the price to $22.57.

Based on these factors, there’s a good chance the market price will go up soon. If the price falls below the moving averages, you should set a stop-loss order to protect profits.

Solana: The ‘Ethereum Killer’ with Valuable Tokens and Efficient Transactions

Solana is often called the “Ethereum killer” because of its unique blockchain framework. Major exchanges accept Solana tokens, which are highly valuable.

Unlike Bitcoin and Litecoin, which are slow and waste energy, Solana uses timestamps to prove its history. Transactions are processed quickly and efficiently with this innovative approach.

The Solana proof-of-stake method is more energy-conscious than Ethereum’s. By staking tokens, validators determine the next block, which reduces energy use.

The Solana blockchain combines delegated proof-of-stake and proof-of-history protocols to achieve remarkable transaction processing. Due to its timestamped blocks, it’s swift and scalable. SOL tokens also play an essential role in network transactions, smart contract validation, and the Solana NFT market.

Solana’s popularity has soared in recent years. The success of Degenerate Ape Academy, for example, drove SOL tokens up from $30 to $75. Solana peaked at nearly $260 in November 2021 during high market activity.

Alternative Solana (SOL)

Wall Street Memes’ $WSM meme coin has reached a significant milestone. Experts predict this will be one of the giant meme coin launches in 2023.

Wall Street Memes’ $WSM Token Pre-Sale Empowers Retail Investors

The Pre-sale of $WSM tokens has raised an impressive sum of over $14 million for Wall Street Memes, an online community with over 1 million followers.

In 2021, retail investors banded together to challenge major financial institutions, driving up stocks like GameStop and AMC that had been heavily shorted.

Despite institutional investors’ dominance, the movement forced Melvin Capital’s hedge fund to close. It’s the next meme coin after Pepe, Shiba Inu, and Dogecoin that’s getting attention from analysts.

Wall Street Memes has a track record of quickly selling out digital asset launches, setting them apart from many other presales.

The $WSM presale surpassed the Wall Street Bulls NFT collection’s $2.5 million sales and 32-minute sale in 2021.

With the King of Stones gaining momentum, it’s a great opportunity.

Wall Street Memes Token: Community Allocation, Rewards, and Airdrop Opportunities

The Wall Street Memes token supply has been allocated 100% to the community as part of their commitment to helping the average person. The team doesn’t have any private sales or special allocations.

This makes Wall Street Memes one of the most popular crypto presales. The presale will sell 50% of the tokens, with the funds for marketing.

Introducing $WSM – yep, we’ve gone and done it.
The community token that’s flipping the Wall Street Memes game upside down! 🐂
We have 50% of the #Token supply up for grabs in the #Presale and 30% set aside for rewarding our community.🔥
Let’s make some serious waves together,… pic.twitter.com/fH2TMGmglZ
— Wall Street Memes (@wallstmemes) May 27, 2023

Another 30% will be given out as rewards to the community, while 10% will be used for liquidity on centralized exchanges (CEX) and the rest for decentralized exchanges.

Airdrops to token holders will play a significant role in the ecosystem since 30% of the supply is for community rewards.

If $WSM stays at its initial offering price of $0.0337, the 30% allocated for community rewards would be worth over $20 million. Meme coin enthusiasts would struggle to find this kind of giveaway in other projects.

Wall Street Memes also hosts a competition where five lucky presale investors will get $50,000 worth of $WSM tokens via airdrop. The meme project’s website has instructions on becoming eligible for this exciting opportunity for investors who already own $WSM.

$WSM Token: Set for Top Exchange Listings and Increased Visibility

According to analysts, $WSM has a good chance of getting listed on top cryptocurrency exchanges because of its large and active community.

Usually, exchanges hold competitions where meme coins and emerging tokens compete for listings, and the ones with the most votes get listed. Wall Street Memes probably have an advantage in these competitions compared to other meme coins.

But $WSM might not even need to win a competition. Several top 10 cryptocurrency exchanges are already in talks with Wall Street Memes. Getting a significant listing could boost $WSM and help it reach its $1 billion market cap goal.

First, $WSM will be available on decentralized exchanges. Anyone can trade the token, regardless of regional regulations regarding centralized exchanges.

Wall Street Memes is also in the process of being listed on CoinMarketCap, as mentioned in a recent tweet. The listing will give $WSM more visibility and exposure.

We’re applying for a @CoinMarketCap listing, but you’re still hating? pic.twitter.com/F0cFjfDsA4
— Wall Street Memes (@wallstmemes) June 12, 2023

The token will then have more liquidity and market capitalization. It will be easy for investors to compare the token’s performance with other cryptocurrencies. The token will get more demand and adoption this way.

Related:

Wall Street Memes – Next Big Crypto