Solana’s meme coin ecosystem is heating up, with multiple tokens seeing price jumps today.
Leading the pack is Myro (MYRO), which has rallied 15% in the past 24 hours alone.
MYRO Continues Upward Momentum with $22M in Spot Trading Volume
After dropping as low as $0.145 yesterday, MYRO has pushed its way up to $0.167 today.
The token’s price action has seen it create a series of higher highs and higher lows, which is considered a bullish signal.
MYRO has even climbed above the 20-period exponential moving average (EMA) on the 4-hour chart, indicating that upside momentum is growing.
The token’s rally has seen trading volumes surge, too.
Over $22.5 million worth of MYRO has changed hands in the past 24 hours, up 29% from the previous day.
However, MYRO remains trapped within a descending channel on the daily chart.
So, there’s a good chance that further upside could be limited in the near term unless MYRO can close above the upper boundary of this channel.
Regardless of the token’s long-term prospects, one thing is for sure: it’s looking likely to be a solid end to the week for MYRO investors.
Solana Meme Coins See Significant Surge in Market Cap & Trading Activity
The buying frenzy isn’t just limited to MYRO today.
CoinGecko data shows the combined market cap of all Solana-based meme tokens has jumped around 10% over the past 24 hours to a whopping $7.7 billion.
Additionally, over $1.5 billion worth of meme coin volume has occurred on exchanges in that same timeframe.
The market has been led by WIF and BOME, both of which have surged by 10% since yesterday.
POPCAT is also rallying, with the cat-themed token up 11%.
However, the biggest gainer is PONKE, which has surged 23% to hit $0.175.
Of course, no meme coin frenzy would be complete without a few tokens being left behind.
BODEN has been the unfortunate loser, falling 13% as retail traders look elsewhere.
As is often the case with these speculative rallies, there has been no obvious catalyst driving the momentum.
It may be a bout of FOMO gripping traders, who are piling into animal-themed tokens on Solana in the hope that this could be the start of the next bull cycle.
And with the Crypto Fear & Greed Index rising to 66, now in “Greed” territory, meme coin enthusiasts seem to be betting on further upside for their favorite tokens.
Which Solana Meme Coin Could Be Next to Surge?
While MYRO has been drawing all the attention today, traders are already on the lookout for the next potential pump candidate on Solana.
One name that seems to be on traders’ radars is Sealana (SEAL), a seal-themed token currently raising funds through a limited-time presale.
SEAL Token Presale Goes Viral & Passes $370K Milestone in One Week
SEAL’s presale has raised over $370,000 in just over one week of going live.
At the current rate of 6,900 SEAL per SOL, the project is gaining momentum amongst the “degen” community.
Some are even drawing parallels to the success of the Slothana (SLOTH) token.
That sloth-inspired meme coin is up over 70% from its presale price since launching on DEXs last week.
Early SEAL investors are hopeful that it could be the next Solana-based joke token to go viral.
Things certainly seem to be heading in that direction.
Each day, hundreds of new members are joining Sealana’s Twitter and Telegram channels. Subsequently, it’s social following arguably eclipsed where Slothana was at this stage.
In addition, the token has been ranked third on ICOBench.com’s list of upcoming crypto launches to watch.
All of this has taken place despite Sealana having no use case to speak of.
Yet, as has been seen with success stories like BONK and WIF, the lack of a use case can sometimes be the biggest selling point for these meme coin projects.
So, SEAL could be worth checking out for those hunting the next under-the-radar token to potentially explode on Solana.
Visit Sealana Presale
