Solana has seen a 2% increase in the past 24 hours, reaching $153 and climbing to 0.00246 in the SOL/BTC pair. This marks its highest level in over a month, indicating growing momentum for the cryptocurrency. Additionally, Solana has outperformed the wider cryptocurrency market, with a 7% increase in a week and a 20% increase in a month. Over the past year, Solana has experienced a significant 620% increase, showing promising short- and long-term momentum, suggesting a strong end to 2024.
The SOL/BTC pair is signaling bullish momentum for Solana, as it has outperformed Bitcoin and continues to benefit from being a hub for meme tokens. After hitting a low of 0.0021458 BTC on September 18, the SOL/BTC price has risen by 14.5% and appears poised for further gains in the near future. Solana’s USD chart also indicates strong momentum over the past week, with technical indicators such as RSI and moving averages showing signs of expansion. The increase in the SOL/BTC price suggests a recovery following overselling, with investors feeling more optimistic about the altcoin.
Solana’s long-term outlook remains bullish, with comparisons to Ethereum in terms of transaction speed, lower gas fees, number of DApps, and community support. Despite a previous all-time high of $250, Solana is currently at $156, prompting speculation about its next milestone. The network continues to evolve with the recent release of the Firedancer validator client by Jump Crypto, enhancing scalability and stability. Such developments make it easy to be optimistic about Solana’s future, with a potential price target of $250 before the end of 2024.
While Solana appears to be a top-performing coin, traders are advised to consider diversifying into small-cap tokens as well. Smaller coins have the potential to outperform the market significantly, especially presale tokens like Pepe Unchained (PEPU). PEPU raised over $16.5 million in its presale and aims to launch a Layer-2 network for Ethereum, offering instant transactions and low fees. By becoming an ecosystem for meme tokens and providing double staking rewards, PEPU could attract significant demand. With its growing online community and upcoming exchange listings, PEPU presents an opportunity for investors to participate in a high-growth alternative.
PEPU’s presale is currently ongoing, allowing investors to purchase tokens using ETH, BNB, USDT, or fiat currency at $0.0099 per token. The increasing popularity of PEPU suggests that its price could rise significantly upon listing on exchanges. With a max supply of 8 billion tokens and allocations for staking and presale participants, PEPU aims to become a valuable utility token for its Layer-2 network. Traders interested in high-potential projects like PEPU should conduct thorough research and consider the risks involved in investing in cryptocurrencies.
