Solana price soars as Memeinator presale enters final stages

It was a sea of red in the cryptocurrency market on Friday morning as Bitcoin plunged below $68,000 for the first time in almost two weeks. Other tokens like Ethereum, Bitcoin SV, THORChain, and Celestia dropped by double digits. 

At the same time, Solana continued with its strong bull run. It jumped to $173.92, a 2,210% increase from the lowest level in 2023. Solana was sitting at its highest point since December 2021 amid strong ecosystem growth.

Memeinator, on the other hand, continued receiving tons of cash as its token sale gained steam. The developers have raised over $6.9 million, making it one of the most successful token sales in the market.

Solana ecosystem growth

Solana is doing well as developers take advantage of its quick speeds and low transaction costs. The network has become the second-biggest player in the decentralised exchange (DEX) industry. Platforms like Orca, Raydium, and Jupiter have moved into the top ten of all exchanges in terms of volume.

Solana is also thriving in the meme coin industry. Some of the meme coins that use its technology like Dogwifhat, Solama, and Bonk have become major players in the sector. Dogwifhat (WIF) has over $3.3 billion in market cap, making it the fourth-biggest meme coins in the world. 

Bonk, on the other hand, has a market cap of more than $2.1 billion while Myro is valued at more than $375 million. Popcat is also gaining market share in the Solana ecosystem.

Meanwhile, Solana’s DePIN and NFT industry is thriving. The network handled over $8.6 million in NFTs, making it the third-biggest platform after Ethereum and Bitcoin. 

Therefore, the outlook for Solana is still bullish as it asserts its role in the blockchain industry. I suspect that it will surge to over $200 in the near term.

Memeinator analysis

Memeinator has continued doing well as its token sale nears the final stages. It has now moved to stage 19 and will soon reach the last part of the sale. According to the developers, about 95% of all presale spots have been filled.

STAGE 19 IS ON THE EDGE OF EPICNESS, ALMOST OUT OF REACH!

ALREADY, 95% OF PRESALE SPOTS HAVE BEEN TAKEN — ACT FAST!

SECURE YOUR SPOT NOW BEFORE IT'S GONE:

GRAB YOURS HERE: https://t.co/aWtBDWViId pic.twitter.com/wpBvM8crkm

— The Memeinator (@TheMemeinator__) March 14, 2024

The developers have raised over $6.9 million from investors who hope to benefit when the token listing happens.

Memeinator is aiming to benefit from the key themes in the industry. It will be a meme coin with gaming and artificial intelligence utility.

In this case, the meme coin element aims to take advantage of the demand of these tokens. Meme tokens like Bonk and Pepe have been among the best-performing coins in the industry.

Artificial intelligence has become an important theme in the financial market, helped by the popularity of the likes of Nvidia and SMCI. Most AI tokens like Ocean Protocol, The Graph, and SingularityNET have all done better than most coins like Bitcoin and Ethereum.

According to Memeinator’s white paper, the developers will also create games, which will boost the MMTR utility. Analysts believe that blockchain gaming will be one of the biggest areas in the market. You can buy the MMTR token here.

The post Solana price soars as Memeinator presale enters final stages appeared first on Invezz