Solana’s price has dipped by 5% in the past 24 hours, bringing it down to $182, while the overall crypto market has lost nearly 3%. Despite this, SOL is still up by 3% in the week and 29% in the month, with a 630% increase over the past year. The SEC’s recent amendment to its legal complaint against Binance has removed Solana and nine other tokens from the securities list, potentially paving the way for a Solana-based ETF in the future. The recent movement in SOL’s price suggests that it may experience a bounce back soon, with traders anticipating a potential rally following the SEC’s decision.
Solana’s chart indicates a potential rebound in its price, as the relative strength index has moved from 30 to over 40, signaling a return of momentum. While the 30-day average has been falling, the support level for SOL has held up well, hinting that any further decline may be limited. The prospects of a Solana ETF are increasing with each passing month, following the introduction of Bitcoin and Ethereum ETFs earlier this year. Despite the recent price drop, Solana remains a fundamentally strong token with growing adoption as a platform for meme tokens and NFTs, which could drive its price to reach $200 in the near future.
Solana’s growing popularity and strong fundamentals have positioned it as the fourth-largest coin by market cap, with potential for further gains. However, it’s not the only altcoin expected to see significant growth in the coming months. Projects like Pepe Unchained, a layer-two network for Ethereum, have raised over $6 million in its ongoing presale. Pepe Unchained offers instant transactions and low fees, aiming to establish itself as a competitor to existing layer-twos and build an ecosystem for meme tokens. With double staking rewards and a max supply of 8 billion tokens, PEPU could see considerable demand once it launches.
Investors interested in taking part in Pepe Unchained’s presale can do so through the official website using ETH, BNB, USDT, or fiat currency. The current price of PEPU is $0.0087693 per token, but its success in the presale suggests potential for a higher valuation once it hits the market. The growth of Pepe Unchained’s community, with over 9,000 followers on its X account, indicates a strong interest in the project. While Solana remains a promising investment, newer tokens like PEPU also offer opportunities for high returns, diversification, and participation in emerging projects with innovative solutions. Investors should be cautious with all high-risk assets like cryptocurrencies and do their research before making any investment decisions.
