Cryptocurrencies had a good week, with Bitcoin almost reaching $60,000. Toncoin was trading at $7.23, slightly below its yearly high, while Solana rose to $146 from $121 earlier in the month. Investors bought the dip, and the market was positively impacted by German government and Mt. Gox wallet liquidations. Additionally, a positive US inflation report showed a decrease in consumer prices.
Solciety, a new Solana meme coin, successfully raised over $863k from investors in under two weeks. This coin aims to combine non-fungible tokens (NFTs), meme culture, and Solana meme coins. It is currently in its presale phase and is expected to become a popular political meme coin, appealing to individuals supporting various candidates as the US election approaches.
Solana’s price reached a low of $122.10, then bounced back to $140. The coin has formed a bullish double-bottom pattern and found strong support at the 200-day Exponential Moving Average (EMA). The MACD and RSI indicators also show bullish divergence, indicating a potential uptrend with a key resistance level at $155.
Toncoin has been performing well within the TON ecosystem but showed signs of a bearish breakout as it reached $6.36. The coin formed a rising wedge pattern, a bearish signal, with the MACD and RSI indicators confirming the potential downturn in the coming weeks.
Solciety’s unique feature is its meme generator, allowing users to create political memes using various traits, backgrounds, and fonts. Users can earn SLCTY tokens by creating and sharing these meme coins. The project aims to introduce augmented reality features to enhance the user experience as the network grows.
Overall, the cryptocurrency market has shown resilience and potential for growth, with each coin presenting unique opportunities and challenges for investors. As the market continues to evolve, it is essential to stay informed and make strategic investment decisions based on thorough research and analysis.