After one of the most explosive Novembers in crypto history, bullish momentum continues in December. As pressure builds up, Solana (SOL) and Bonk (BONK) are poised to see new heights in the upcoming weeks.
Meanwhile, Cutoshi (CUTO), a newcomer to the meme coin space, is also making waves with its innovative MemeFi ecosystem.
Solana Is Still Rangebound, But This Could Change Soon
It’s fair to say that Solana played a protagonist role throughout 2024 as it climbed the crypto ranks with ease, reaching a massive $106 billion market cap. After reaching a new all-time high in late November, peaking at $263, Solana’s short-term price structure broke down as it retraced down to $223, where it’s currently consolidating. This level represents a crucial demand zone that Solana retested several times over the last few weeks while a descending trendline pushed its price downward, as highlighted by trader and analyst Eliz.
The recent flush, however, helped reset Solana’s daily RSI indicator, which had entered overbought territory. The RSI is now neutral at 48.4 points, indicating that Solana’s price has found an equilibrium.
Source: TradingView
One of the main aspects fueling Solana’s growth in 2024 is undoubtedly its meme coin factory. Projects like Dogwifhat, Bonk and Popcat drove tens of millions in revenue back into Solana’s ecosystem and judging by the euphoric state of the meme market, this trend will likely continue throughout 2024.
Bonk Is Gearing Up For The Next Rally After Cool-Off Phase
Bonk (BONK) recently surpassed long-standing rival Dogwifhat as the 4th largest meme coin in the space, amassing a $3 billion market cap. As a Solana-based meme, Bonk’s movements loosely follow Solana’s performance. In the last weeks of November, Bonk also reached a new all-time high that saw it tap the $0.000058 level. However, as investors booked profits, Bonk experienced a steep pullback that saw it give back to the market most of its gains.
At the time of writing, Bonk sells for $0.000039, following a 1.8% intraday increase and an 18% decline in 24-hour volume, with roughly $365 million worth of BONK traded on exchanges. On the other hand, analyst CryptoBull suggests zooming out, as Bonk has successfully flipped into support at a level that was previously acting as a resistance level, where every breakout attempt was followed by a steep correction.
Meanwhile, the LetsBONK initiative is picking up steam and is on track to reach the 1 trillion BONK tokens burned by December 24. For each share of the LetsBONK hashtag, 1000 tokens are removed from circulation and for each new follow across all social media platforms, 10,000 BONK are getting torched. This is a clever marketing campaign that not only supercharges Bonk’s viral factor on social media but also promotes sustainable price growth by increasing deflationary pressure.
Discover Cutoshi, The Luckiest Cat On The Blockchain
Cutoshi sets itself apart from the majority of meme coins as it offers real utility through a vast DeFi ecosystem, at the center of which is CUTO DEX. This is a non-custodial exchange that allows for seamless swaps across all major blockchains at the lowest possible fees.
Additionally, users will be able to enjoy recurring rewards and prizes through multiple avenues. They can provide liquidity or stake the $CUTO token and earn passive income. During and after the presale, they can also partake in special events and missions aimed at expanding Cutoshi’s reach on social media. For their efforts, they will receive CUTO points, which can then be redeemed for more $CUTO once the token hits the markets.
Over $1.37 million has been raised in the ongoing $CUTO presale and thousands of investors are flocking to get an allocation at a discounted price of $0.031. With the market increasingly shifting its attention toward utility-focused projects, Cutuoshi’s unique MemeFi framework could see it outperform established meme coins and become one of the hottest plays of 2025.
For more information on the Cutoshi (CUTO) Presale:
Join and become a community member:
https://twitter.com/CutoshiToken
