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The Solama price surged 78% in the last 24 hours to trade at $0.063 as of 04:02 a.m. EST on trading volume that rose to $14.61 million.
This comes as meme coin season reignites with the sector’s market cap up almost 16% to $60 billion, with titans DOGE, SHIB, and PEPE all recording strong gains.
Solama Price Breaks Above The Bullish Pennant
The Solama price is coming out of a consolidation phase, where the bulls seem to have won the battle around the $0.009 and $0.01 ranges. The resilience of the bulls has led to the price soaring through a markup phase, testing the resistance levels at $0.032 and $0.050 as it breaks the upper boundary of the pennant.
SOLAMA is trading above both the 50-day and 200-day Simple Moving Averages (SMAs), which is a confirmation of the sustained bullish momentum.
Additionally, the Relative Strength Index (RSI) is trading upwards within the overbought region at 77, which indicates that the asset is intensely overbought. The overbought RSI is also an indication that investors are highly optimistic about the SOLAMA prospects.
Furthermore, the Moving Average Convergence Divergence (MACD) is also bullish as the moving average line (blue) crosses above the signal line (orange), representing a bullish crossover. Buyers often use a bullish crossover as an encouragement to add to their buy positions.
The Average Directional Index (ADX) is also moving to the north over the 25 level at 39, which indicates that the current bullish trend is very strong.
Solama Price Prediction
The Solama short-term price analysis shows sustained bullish momentum, as the bulls are looking to soar the price even higher, aiming for $0.075. The ADX, MACD, and RSI provide a bullish outlook for optimistic investors.
However, the RSI has already entered the overbought region, which may indicate a looming price correction. In such a scenario, the price may go down to reclaim the $0.03 support zone, acting as a cushion against downward pressure.
As the Solama price soars, new token Smog is dominating events on Solana after surging more than 400% in the last week. Analysts say it still has the gas to surge another 100X.
Smog Token Pumps 404% – Best 100X Opportunity To Buy
The Solana-based $SMOG price has soared 404% in the last week amid rumors of a Binance listing.
The dragon-themed coin is preparing the biggest giveaway ever, set to surpass even JUP, and has allocated 35% of the 1.4 billion token supply for the airdrop, dubbed ”the greatest in history.”
One #Memecoin to rule them all! 🚀
Get ready for the greatest #Airdrop in history, distributed on #Solana. 💰
Join #SMOG on Zealy! 🔥
Link in Bio 🔗 pic.twitter.com/vsn4p5cSF4
— SMOG (@SMOGToken) February 8, 2024
Smog is hitting new all-time highs frequently, and has surged to a market cap of $274 million, making it the 13th-largest meme coin. It’s also accumulated over 54,000 holders.
Buy $SMOG, Qualify For The Biggest Giveaway
To qualify for the airdrop, the simplest way is to buy and hold $SMOG. You can also earn airdrop points by joining Smog’s socials and participating in daily tasks that are managed by Zealy. Airdrop members on the platform have already completed over 800,000 quests.
You can also participate in $SMOG’s weekly giveaway competition that ends every Friday, with a prize of $5,000 worth of $SMOG.
Additionally, you can earn passively by staking $SMOG for a 42% annual percentage yield (APY).
According to YouTuber Jacob Bury, Smog has the potential to pump an additional 100X.
You can buy the SMOG token on the official website to qualify for the historic airdrop. There’s also a 10% discount when you buy and stake $Smog.
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