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The Solana price dropped 2% in the last 24 hours to trade at $143 as of 4.45 a.m. EST on trading volume that surged 31% to $2.7 billion.
Solana has been quite busy lately establishing various partnerships and collaborating on a number of different projects, especially in the PayFi sector. The most recent development is its partnership with Selecta, which allows users to easily locate smart fridges as they travel, allowing them to make a quick pitstop and make purchases using USDC.
Every second counts ft. @enjoyselecta 🇫🇷
Need to make a pitstop? Selecta smart fridges accepting USDC are waiting for you.
They're new to Solana and X — give them a follow! pic.twitter.com/qJP4hbnoIW
— Solana (@solana) August 14, 2024
Yesterday, Aug. 14, Solana announced that Selecta has activated six smart fridges in Paris, and more than 20 additional locations in other parts of France, allowing users to buy snacks or drinks with USDC on Solana.
Today, Selecta has activated six smart fridges in Paris – and over twenty additional locations throughout France – where consumers can buy a snack or drink with USDC on Solana.
When asked about the initiative, Roland Ludwig, Selecta CTO & COO said “For me, this was the first…
— Solana (@solana) August 14, 2024
Before that, another big development from Aug. 7 said that Ethena Labs is integrating with Solana, which will enable USDe deployments on its blockchain, SOL onboarding as a backing asset for USDe, and a new Solana Sats Campaign.
August 7th marks Ethena's Solana integration:
– USDe deployed on Solana thanks to @LayerZero_Labs OFT
– SOL onboarded as a backing asset for USDe, subject to governance
– Solana Sats Campaign
— Ethena Labs (@ethena_labs) August 7, 2024
In other words, Solana has a lot going for it, and despite its recent price drop, SOL seems to be among the first cryptos to recover from a recent price correction.
Solana Price Prediction
Solana’s price saw a relatively small drop in the last 24 hours, going down from $145 24 hours ago to $142 as of the time of writing. However, movements between these two points saw the coin climb to $151 before dropping to its current value, so its drop percentage on a 24h chart will likely increase throughout the day.
Right now, the price is giving signs of a potential recovery, as it already tried to climb up but a resistance at $144 prevented it from doing so.
The coin’s Bollinger Bands have started widening earlier, but then the price rejection caused SOL to start pushing at the lower band, which is a bearish signal.
Meanwhile, the coin’s Relative Strength Index (RSI) value saw a sharp surge after dropping to the oversold zone. This was a moment when many moved in to buy the dip, which is what started the attempt at recovery. But, as soon as SOL reached the resistance, those who bought it seemingly sold again to take profit, causing the price rejection to occur.
The RSI drop from 64.86 to 44.61 reflects this, and while the metric remains in the neutral zone, the fluctuations show that Solana has not reached stability and that further volatility might be expected.
Promising Alternatives To Solana
If Solana’s recent price fluctuations seem too volatile and risky, you can always turn to safer options, such as crypto presales. One currently ongoing ICO that is worth considering is Shiba Shootout (SHIBASHOOT) — a new Shiba Inu clone that places the popular meme dog in a Wild West setting.
🚀 Ready for the $SHIBASHOOT presale? 🎯
1️⃣ Get a crypto wallet
2️⃣ Visit our website’s presale section
3️⃣ Connect your wallet
4️⃣ Swap your crypto for $SHIBASHOOT tokens🔗 Detailed info & schedule on our site. Don't miss out on this digital duel! 🌐https://t.co/Fxf9PWP0gz pic.twitter.com/Gm5lJfFP8s
— shibashootout (@shibashootout) August 11, 2024
The project doubles as a meme coin and a P2E game, which is one of the many reasons why it has attracted the attention of a large number of investors. Its game is already live for both Android and iOS, but it doesn’t let you earn tokens by winning sharpshooter duels just yet. This will come with a Web3 update which is expected after the ICO ends and the SHIBASHOOT token enters circulation.
Until then, players are free to download the game and practice their sharpshooting skills while there is no money on the line.
The hype around the game and high expectations of the project has led to its ICO seeing quite a strong flow of capital lately, and right now, SHIBASHOOT is closing in on $1 million. So far, the project raised a total of $946.9K.
Its token, SHIBASHOOT, sells for $0.0199, and you can buy it with ETH, USDT, BNB, or credit/debit card. The project saw plenty of experts speculate on its potential, with one of them, a popular crypto YouTuber Jacob Crypto Bury, saying that it could be the next Shiba Inu.
Visit SHIBASHOOT’s official website.
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