Solana, the Ethereum killer, has hit a new daily transaction record which shows huge interest from the crypto community. On the other hand, analysts have given bullish price predictions for Ethereum and a new meme coin.
Solana (SOL) Hit 51.63M Daily Transactions
Solana (SOL) has recently experienced a powerful rally, setting a record with 51.63 million daily transactions. For the Solana network, this performance was an all-time high. The price of Solana increased to $59.58 as a result of this spike, yielding a weekly gain of 1.53%.
The trading volume on Solana amounted to $1.2 billion. Due to its large transaction volume and price spike, Solana has demonstrated a significant market presence through its great performance. Solana coin has faced a retracement and is now moving at the lower range of $52.21-$59.48 in the past week.
Still, the Solana price prediction remained positive as it traded above the 50 and 200-day EMAs. Analysts have forecasted the price of Solana to retest the $60 level in the coming weeks.
Ethereum (ETH) To Skyrocket 130%, Says Analyst
The price of Ethereum has traded more than 50% below its peak of $4,800 for the better part of a year. Crypto analyst, FieryTrading, posted on TradingView that Ethereum crypto has been trading in a bullish triangle pattern. This has continued for more than a year and a half.
The cycle’s lowest point, $887, marks the bottom of the bullish triangle. On the other hand, the triangle’s peak is marginally higher than $13,100. Ethereum currently needs to break over $2,200 in order to break out of this bullish triangle.
The analyst believes that if the price of Ethereum breaks out of this trend, it may lead to a substantial increase to $4,800. By this, the price would have increased by 130% from what it is now.
Meme Moguls (MGLS) Launched Meme Coin With More Utility
Apart from Solana and Ethereum, another token that entered the spotlight this week is Meme Moguls (MGLS). Meme Moguls recently launched a new meme coin, which is more useful than many other meme coins in the meme industry.
This coin is expected to follow a similar path to Dogecoin in terms of price. Meme Moguls has a goal of making 100 people millionaires within three months of its launch.
Some of the benefits of Meme Moguls include access to staking rewards and NFTs. One notable feature is the “wealth leaderboard”, which encourages friendly competition among users.
Joining Meme Moguls allows you to interact with other meme enthusiasts and gain insight into the ecosystem. Meme Moguls also provides a thrilling online gaming experience with its tournaments and events.
Meme Moguls is giving away $10,000 to the most active user during its presale. This highlights the project’s commitment to its community. MGLS is currently available for just $0.0021 apiece. Experts in the market have estimated that in the upcoming weeks, the token’s value will rise by 1,000%.