Memecoin Price Prediction: MEME Jumps 14%, But Traders Turn To This New Solana Star That Surged 198% In A Week – Too Late To Buy?

The Memecoin price jumped 14% in the last 24 hours to trade at $0.05008 as of 5 a.m. EST on trading volume that skyrocketed 135% to $450 million.

While the token is actually down 7% on the weekly chart after reaching an ATH on March 4, it’s soared 110% in the past month.

Memecoin Price Prognosis

On the technical side of things, the Memecoin price shows signs of an upcoming correction. The Memecoin token’s Bollinger bands have started to narrow, after previously seeing significant widening over the past few days. For the time being, they still remain fairly wide, but they are starting to get closer together, which is a bearish signal.

Similarly, the token’s Relative Strength Index (RSI) value sharply dropped from 70.63 to 48.80. While this means that it has reached a more neutral zone at this time, the fact that it dropped below 50 also suggests that it might continue to drop. This suggests that traders have started to sell, and that the RSI score is rapidly sinking from the overbought zone into the oversold.

For the moment, it remains in the neutral zone, and given the overall bullish market sentiment, it is possible that traders will start moving in to buy the dip very soon. In this case, the price will likely not correct too much, but will soon bounce back up. Looking at the token’s chart, it is likely that the support at $0.050 might be the level that will stop MEME from sinking deeper down. Alternatively, if this level breaks, the next strong support sits at $0.046.

However, if the price bounces back up, it will first have to breach a resistance at $0.053, and then head back up for the one at $0.055. Only then will it be in the position to head for its ATH at $0.057, and potentially go beyond it.

Promising Alternative to Memecoin

While the MEME price certainly impressed both traders and investors over the past week, there is another potentially even more promising option for those seeking to profit from meme coins. The token in question is a Solana-based dragon-inspired cryptocurrency called Smog (SMOG).

Smog is a token that has been live for over a month now, but it still holds massive growth potential. In the last week, it’s surged by around 198%.

The project is currently offering a 10% discount to the market price if you buy on the official website, but with that offer set to expire soon interested investors should act fast to secure the best price.

Those interested can buy SMOG in exchange for ETH or USDT, or simply purchase it with a bank card directly.

Once you have it in your possession, you can also stake it and keep earning more in staking rewards. At this time, the project offers an APY of about 42%.

SMOG is also preparing what it calls the “greatest airdrop in history,” another key reason why so many investors have rushed to purchase it.

Visit the SMOG presale here.

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