The Solana price prediction in the last couple of days has been bearish due to the inability to hold the price above $200. But it's heartbreaking to see the price, which started the year on a high note, fall this low in less than two months. There have been diverging opinions about what is keeping the Solana price down in the last few weeks. Some analysts are citing the memes falling off as probable cause, while others are pointing at the current global political affairs.
However, the current global political ecosystem has been a major factor affecting crypto and the global financial market. This is with the coinmarketcap crypto global market cap recording a dip of about 10% in the last 30 days. But more specifically to Solana, the price has recorded over 21% loss in the last 30 days with the market cap falling to $88B from $125B in January. However, with the price prediction driving towards a fall on the coin, is this the end for Solana?
Lately, a new meme coin is shining as Solana continues to fall. Analysts believe this new meme coin, Panshibi, might win this season as it continues to cross new highs. Here is a breakdown of what experts say about Solana price prediction and how Panshibi might be the way out.
The current price movement on the price chart is bearish, particularly on the weekly charts. A closer look at the weekly chart shows the SOL price heading towards the 50 SMA, which is $174. This price is critical, as a breakout below this range could usher in a huge waterfall that sees the price fall more than 50% from its all-time high.
Earlier this year, the Solana price prediction suggested it could rise over $500 in a bullish wave that was thought to extend till the later parts of the year. However, the SOL-dependent meme coins were the main contributors to this growth, but as the meme coins continued to fall off, so did the SOL price. However, from a more optimistic point of view, if the price bounces above 50 SMA on the weekly chart, we might get a bull resumption that follows the experts' Solana price prediction.
As investors keep a close watch on the SOL price, the potential price surge of the Panshibi meme coin presale creates an option to shift to. The current move towards a 40% price fall might trigger a wave of investors dumping the SOL coin in a wave that can see investors rushing towards Panshibi. But why Panshibi?
The Panshibi meme coin has been one of the most talked about meme coins lately for its blend of culture and theme. Panshibi is built on the Panda meme, which has a deep undertone of Asian culture. This is creating a high interest in the meme coin, as crypto experts believe this new meme coin could go on to be the best Asian-themed meme coin. There is a standing projection of about 100x for the Panshibi meme coin after its presale, driving great attention to this meme coin.
The presale round is the best place to join and gain more from the Panshibi meme coin, as it creates opportunities to gain during and after the presale. There are 15 stages in the Panshibi presale, with a projection towards giving investors a price boost of about 10x before the coin launches.
Take advantage of the Panshibi presale today for the best price offer and a more significant gain this year. Check the link below to get started.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.