Solana blockchain is set to unleash the biggest meme coin season in history. Pointing to historical trends, a crypto analyst, stated that meme coins have thrived during SOL’s strong surge. With an extremely bullish outlook on Bitcoin’s short-term prospects, the expert predicts a similar growth in SOL, leading to a potential meme coin boom.
Many factors point to an upcoming rally But, normies simply miss it When & Why meme coins will go parabolic + my current 1000x bets. After researching every meme season since the start of bull run ☩ I’ve noticed that memes showed the highest performance during the parabolic growth of SOL. ☩ Here’s why I believe Solana will soon give a 2-3x return, sparking a new meme season
Comparing BTC’s 1-month and 1-week timeframes, the analyst hinted at signs of whale manipulation, where large holders try to influence the market price. This whale, per him, triggered “paper hands” to sell when the price fell below the $60k threshold. Paper hands is a term used to describe those investors who sell quickly for fear of losing money. The analyst predicted a “strong comeback” after the price drop.
Solana’s Price Breakout Hints at Parabolic Phase
In the Solana chart below, the analyst identifies a recent price break above a downward trendline, a potential bullish signal. Citing historical trends, a similar price break in the past led to a “parabolic phase.”
A parabolic curve is marked by a sharp upward trend on a chart.
However, it’s important to note that parabolic trends are often volatile and unsustainable and can be followed by significant price corrections.
The crypto analyst compiled a list of the three most popular meme coin sectors. These are Dog, Cat, and Political memes. He then listed eight meme coins associated with these sectors that have exponential growth potential.
While it is tempting to dive into the frenzy, one should always exercise caution and not rely solely on the hype factor. A substantial amount of meme coin projects have fizzled out and have been accused of rug pulls. Hence, readers are advised to do thorough research on a new project, including the team, developers, etc., before investing.