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Test Token ($TST) has gone from a simple demonstration token to a meme coin worthy of a Binance listing, leaving many investors to question if the new altcoin is the best crypto to buy now.
The hype around $TST all started when the BNB Chain team used the token to show how developers can issue meme coins on Binance’s new Four platform. An investor frenzy soon erupted around the crypto when the video accidentally shared the contract address of the test meme coin.
Investors started to buy into Test Token with the fear of missing out on the next big crypto, causing the altcoin’s market cap to surge. CoinMarketCap data shows that the demonstration token’s capitalization stands at more than $195.27 million as of 2:15 a.m. EST even after it plunged 46% in the past 24 hours.
The token has bounced back in the past six hours with a 22% surge, according to GeckoTerminal.
$TST Price Prediction Following Binance Listing
The hype around Test Token led to Binance listing the new meme coin on its platform. This has opened up the crypto to a large pool of potential investors and traders, which is bullish for the meme coin.
1-hour chart for $TST/USD (Source: GeckoTerminal)
Looking at the 1-hour chart for $TST/USD, a resistance has formed at $0.2378. A break above this technical barrier within the next couple of hours could result in a climb to the next major mark at $0.3096.
On the other hand, a more bearish scenario could see the $TST price testing the immediate support at $0.1620. Breaching this support could then lead to a plunge to as low as $0.1060.
Could One Of These Other New Tokens Be The Best Crypto To Buy Now?
Test Token has brought renewed interest to the meme coin space, but it’s future trajectory is uncertain. Investors who missed out on $TST might thus consider other projects with high potential. Here are three analyst favorites:
Wall Street Pepe ($WEPE) is the standout presale of the year after raising more than $70 million, which led to it selling out early over the weekend.
Now, as the project gets ready to launch, some investors are speculating that $WEPE might be the next meme coin to score a Binance listing.
Crypto analyst and YouTuber ClayBro said that he is bullish on $WEPE in a recent video for his over 134K subscribers. He went on to predict that the meme coin could soar 100X when it launches.
With the meme coin sector an outperformer in the past year, Meme Index ($MEMEX) is the first project to enable investors to invest in diversified baskets of meme coins.
Central to the project are 4 meme coin baskets, each offering different risk profiles. Meme Titan is the lowest-risk option, investing in top 10 meme coins like Dogecoin, Shiba Inu and Pepe. Meme Frenzy is the riskiest basket, focussing on the latest, most speculative projects that offer massive potential rewards and also a large dollop of risk.
Finally, there is Solaxy ($SOLX), the first layer 2 project on Solana that comes with the ambition to solve SOL’s congestion problems.
Solana is currently suffering from high congestion levels due to the growing hype around SOL-based meme coins, especially after a trading boom triggered by the launch of TRUMP and MELANIA meme coins last month.
As opportunistic developers continue to deploy new meme coins on a daily basis, Solana stands the risk of experiencing even worst congestion if something doesn’t change soon.
That’s where Solaxy comes in. It will alleviate the computational stress on the Solana mainnet by bundling and processing Solana transactions on its own side chain and off of the Solana layer 1.
It will then submit the batches of transactions to the Solana network for final verification and record keeping. This approach will reduce Solana’s congestion while increasing the network’s throughput.
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