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The Avalanche price soared 20% to trade for $60.56 as of 05:43 EST time on a 2% increase in trading volume.
AVAX has outperformed most altcoins, coming in second only to Solana (SOL) among the crypto top 10.
It comes as meme coins attempt a recovery, with the Avalanche ecosystem being the hub for meme coins including Cheems Inu (CINU), Shibavax (SHIBX), and Spore (SPORE), which leverage Avalanche’s advanced technology and growing ecosystem.
📃 Trader Joe Meme Coin Tokenlist
Meme Coins are thriving on #Avalanche and so far 25 tokens have been whitelisted and added to the Meme token list on the Trader Joe DEX.
Can you spot your favourites?
And what are we missing?
Let us know below 👇 pic.twitter.com/a8SLavIBLK
— Trader Joe (@TraderJoe_xyz) March 14, 2024
Kimbo (KIMBO), a meme coin supported by the Avalanche Foundation, is up 5%, with community members flocking to its subnet.
https://twitter.com/aufal42/status/1769531609756086667
Market watchers are optimistic about Avalanche-based meme coins, saying they are underrated.
I don't think we're bullish enough on these memecoins that have been picked up by the Avalanche Foundation @AvalancheFDN. They clearly have a plan and won't just be aping for the sake of it.
My realistic expectations over the next few months:$COQ $750m-$1b$KIMBO $200m-$400m…
— Barkley (@0xBarkley) March 16, 2024
Even as Avalanche Foundation’s meme coin investments continue to stir market interest, the price movement of Bitcoin could be influencing their trajectory. This is because as the Bitcoin price cools off, the Avalanche-based meme coins have also shown weakness.
Avalanche Foundation’s Meme Coin Investments Stir Market Interest.https://t.co/hbyCSOK4aA
Chika Moji New Memecoin, Get 100,000 Chika Tokens $100 Free, Join Airdrop Now On https://t.co/hSnkswQt9i#AVAX #Avalanche #Bitcoin #Altcoin #Cryptocurrency #CryptoNews #NFTs #Blockchain… pic.twitter.com/CQoX7vHOWb
— CryptosHeadlines.com (@CryptosHeadline) March 18, 2024
Avalanche Price Prognosis As AVAX Surges On Meme Coin Mania
The Avalanche price has broken above the range after a multi-month consolidation. After being stack within the $32.10 to $48.62 range from December 10 to around March 11, the Avalanche price has broken out in the weekly timeframe to record an intra-day high of $61.46.
The upside potential remains viable for the Avalanche price, with momentum still rising. This is seen with the ascending Relative Strength Index (RSI), suggesting buyer momentum is on the rise. The Awesome Oscillator (AO) is also showing green histogram bars, suggesting the bulls have established a strong presence in the AVAX market.
This, coupled with the large sizes of the volume indicator, points to a strong trend, could bode well for the Avalanche price.
Enhanced buying pressure could see the Avalanche price extend to the 50% Fibonacci placeholder at $78.13. A flip of this roadblock into support could set the path for a continuation rally. With this, the Solana price is likely to test the 61.8% Fibonacci retracement level of $94.41.
In a highly bullish case, the Avalanche price could extend a neck high to tag the 78.6% Fibonacci retracement level of $117.60. A break and close above this threshold on the weekly timeframe could open the stage for the Avalanche price to continue the uptrend.
TradingView: AVAX/USDT 1-week chart
However, if traders start booking early profits, the Avalanche price could quickly correct to fall back into the range. A candlestick close below $48.62 would invalidate the bullish thesis.
Nevertheless, despite the surge in the Avalanche price, and the tailwinds it enjoys from meme coin mania, AVAX is still trailing the Smog price, which boasts 34% in gains ahead of what it promises will be the biggest airdrop ever on Solana.
Promising Alternative To Avalanche
Smog is the latest sensation on the Solana blockchain after soaring 340% since launch and 181% in the past month to record a market capitalization of $178 million. 
Smog show no signs of slowing down, with tailwinds coming from its epic giveaway.
#Dragons REMEMBER to join this week’s $SMOG #Giveaway!
Five fortunate dragons stand a chance to win exciting giveaway rewards! 🎁🌟🤞
How To Join: 🐲
Follow us ❤️
Like and RT the giveaway post 🔄
Tag 3 Friends 🙌
Upload Screenshot to Zealy 📸⏰ Giveaway is ending on Friday… https://t.co/Y36K0vlPlV
— SMOG (@SMOGToken) March 12, 2024
The project brings forth a profound tokenomics, accommodating an allocation for the airdrop so that Smog community members can enjoy access to the greatest Solana airdrop in history.
In order to participate in the SMOG airdrop campaign, traders will need to use a Solana-compatible wallet such as Phantom.
📢@CoinMarketCap We have applied for a token update/listing (846804)🐉🔥
— SMOG (@SMOGToken) February 7, 2024
While Smog made an initial launch on the Solana blockchain, it has since expanded to the Ethereum network, extending its reach. Airdrops, facilitated by the Zealy platform, incentivize users by rewarding them with SMOG tokens for acquiring and holding the token, as well as for engaging in designated social media activities.
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
Join the Smog community on X (Twitter), Discord, and Telegram to stay tuned with the latest news and updates. You can also explore the Lite Paper to find out more.
Also Read:
- $SMOG Meme Coin Price Prediction – 100X Low Cap Crypto Gem
- Top Meme Coins to Buy For The Upcoming 2024 Bull Run – $SPONGEV2, $SMOG, $MK
- Crypto ZEUS Reviews Latest Meme Coin, SMOG, Launching the Greatest Solana Airdrop of All Time
- New 100X Potential Meme Coin Launches On Solana – Is $SMOG the Best Crypto to Buy Now?
- Latest Solana Meme Coin Smog Token Unveils ETH Bridge After Massive $37M Market Cap Debut – Investor Sentiment Boosted By Airdrop Campaign
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