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The Solana price surged 3% in the last 24 hours to trade at $181 as of 4.30 a.m. EST on trading volume that skyrocketed 56% to $4.94 billion.
SOL climbed after an announcement that the first open-source fuzzer for Solana programs written in Anchor has arrived on the network. Known as Trident, it is a rust-based framework to fuzz test Solana-based programs, and help developers ship secure code.
3/ Features 🔱
– Automated fuzz test generation for Anchor programs
– Adaptive inputs for better test coverage
– Faster results through guided instruction sequences
– Invariant checks— Ackee Blockchain Security (@AckeeBlockchain) May 20, 2024
Trident’s development started in 2021, and only a year later won the Marinade Finance’s community prize during the SolanaRiptide Hackathon. In 2023, the Solana Foundation helped the project by selecting it as a receiver of a development grant.
Solana Price Prediction
Solana’s price is currently only 3% up compared to 24 hours ago, but this is the result of a correction that brought the coin down after it breached a resistance at $185. It even climbed up to $188 before seeing a correction that brought it to its current levels.
On the plus side, multiple technical indicators suggest that SOL might soon retest the resistance, possibly with better chances of breaching it permanently this time around.
The project’s Bollinger bands remain fairly wide — not as wide as during yesterday’s surge, but wide enough to still be considered bullish, or at the very least, neutral.
More interesting is the project’s Relative Strength Index (RSI) value, which took a hit and dropped to the oversold area. This shows that traders were massively selling SOL after it reached its highest point yesterday.
The decision to move in and take profit knocked Solana’s price down, preventing it from securing the $185 level and turning this resistance into a support.
However, after reaching the low value of 33.56, traders started buying once again, aiming to buy low, likely for the purpose of selling once again after the price went back up. However, a wave of purchases might start pushing the SOL price back toward the mentioned resistance.
At the very least, it will likely start a new recovery period for Solana.
Right now, the coin seems relatively stable at $181, but with traders slowly building up the buying pressure and the rest of the crypto market trading in the green, it likely won’t be long before the SOL price starts to recover.
Promising Alternative to Solana
While Solana’s surge makes it a cryptocurrency worth considering, many investors are more interested in Solana-based meme coins. One of the most popular options is Sealana (SEAL), a seal-themed meme coin still in presale.
The project hit a massive milestone yesterday, May 20, when it hit $2 million raised, proving that there is great interest among investors and that they are willing to put their money on the line with this project.
Sealana offers no features, new technologies, or even staking. Like Dogecoin, it is a meme coin for the sake of being a meme coin. In other words, the point is not only for investors to try and get rich by investing in it, but to add a fun and interesting new cryptocurrency to their investment portfolios.
The project is simple and minimalistic, humorous and funny, as can be seen from its posts on X.
#Sealana and his closest bros are stormin’ the Capitol to defend all #Crypto patriots, Sealana and his $SEAL troops are fightin’ for our right to Lambos 🏎️, Gains 💸, and FREEDOM!! 💪🦭
Stand with Sealana! Join the #Presale, 💵 and restore the former glory of #Memecoins!💥 pic.twitter.com/Sv1fGVm8ry— Sealana (@Sealana_Token) May 20, 2024
Sealana has almost reached 5k followers on the platform, and the amount its presale has raised so far has just reached $2.2 million. In other words, its tokens are selling quickly, so anyone interested in buying it should not wait too long and risk missing out should the project close its presale early.
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