{"id":565337,"date":"2024-08-16T08:49:48","date_gmt":"2024-08-16T08:49:48","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=565337"},"modified":"2024-08-16T08:12:47","modified_gmt":"2024-08-16T08:12:47","slug":"solana-price-prediction-sol-plunges-10-as-experts-say-this-base-meme-coin-might-100x","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/solana-price-prediction-sol-plunges-10-as-experts-say-this-base-meme-coin-might-100x","title":{"rendered":"Solana Price Prediction: SOL Plunges 10% As Experts Say This Base Meme Coin Might 100X"},"content":{"rendered":"

The Solana price plunged 10% in the last 24 hours <\/span>to trade at $142<\/span><\/a> as of 00:47 a.m. EST on trading volume that rose 16% to $3.1 billion.<\/span><\/p>\n

Solana is trading near the $140 support level, a critical juncture that could significantly influence its future trajectory.<\/span><\/p>\n

The Solana<\/a> network continues to experience a surge in activity, resulting in a fluctuations between $142 and $149. Despite the upward momentum, the cryptocurrency struggles to reclaim the $155 level, according to data from <\/span>GeckoTerminal<\/span><\/a>.<\/span><\/p>\n

As technical indicators offer mixed signals, can the price of Solana eventually overcome the consolidation phase?<\/span><\/p>\n

Solana Price Could Breakout<\/h2>\n

The Solana<\/a> price has rebounded from a recent downtrend, soaring from the $110 support to the $163 resistance. SOL then pulled back slightly to trade back within a sideways pattern, with the bulls now aiming for a breakout above the consolidation zone.<\/span><\/p>\n

However, the price of Solana still trades below both the 50 and 200 Simple Moving Averages (SMAs) on the 4-hour chart, supporting the current downtrend towards the lower boundary of the pattern.<\/span><\/p>\n

The Relative Strength Index (RSI) also seems to be consolidating slightly below the 50-midline level in a neutral position, currently at 45, an indication that investors may be accumulating to take advantage of looming buying signals.<\/span><\/p>\n

The RSI also indicates a neutral condition as the bulls and bears struggle for dominance. However, with a sideways pattern having formed after a recent surge, the bulls aim to try and take control, which could push the price of Solana to the $180 level.<\/span><\/p>\n

\"Solana
Solana Price Chart Analysis Source: GeckoTerminal.com<\/figcaption><\/figure>\n

However, if the bears gain control of the price at this level, the price of Solana could retrace below the sideways pattern, with $130 acting as the immediate support zone.<\/span><\/p>\n

Meanwhile, as the Solana bulls aim for a rally, other investors are buying the new Base meme coin,<\/span> Base Dawgz (DAWGZ)<\/span><\/a>, which has already garnered over $2.9 million as it hurtles towards the $3 million milestone.<\/span><\/p>\n

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After passing $2.9M raised, we're steadily on our way to 3M 🚀 pic.twitter.com\/JbZUMgF8yd<\/a><\/p>\n

— Base Dawgz (@BaseDawgz) August 13, 2024<\/a><\/p><\/blockquote>\n