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Solana continues to bolster its claim as the most bullish cryptocurrency during the current bull cycle.
After a sharp decline in April, the Solana price has bounced back up in May. It has rallied 12% from its recent low of $119 and is currently trading at $138 at press time.
Solana’s performance is even more impressive when comparing it to other large-cap cryptocurrencies. According to TradingView, the SOL/BTC trading pair is up 4% this week.
Experts and analysts continue to call Solana the best long-term investment in the cryptocurrency market, thanks to its strong mainstream adoption and network growth.
On the other hand, investors searching for 100x to 1000x returns are looking at new Solana meme coins. A new meme token Sealana has caught the attention of crypto traders, having raised close to $150k in its presale in just over a day.
Solana price bounces back: How high can it go?
Solana continues to impress investors and industry leaders with its robust network performance.
A recent report published by the Franklin Templeton Digital Assets, titled “Solana: Accelerated Adoption”, further crystallizes this point. The report highlights that Solana will pioneer new crypto trends and will continue to grow due to its low network fees, fast transactions, and high data throughput.
The report explicitly highlights that the new emerging trends in the crypto industry, including DePIN, micropayments, Compression NFTs, and CLOBs will likely see the most adoption on Solana.
The phenomenon could already be witnessed in the case of meme coins. Solana meme coins have significantly outperformed their Ethereum counterparts during this crypto bull market.
Top Web2 companies have also started preferring Solana as their bridge to the Web3 ecosystem. For instance, PayPal recently integrated Solana via Moonpay, Stripe has restarted USDC payments on Solana and Shopify and Visa have also made Solana a crucial part of their ecosystem.
It is, therefore, clear to analysts that the recent decline in Solana’s price had nothing to do with its ecosystem. Rather, it was largely due to the increasing macroeconomic risks that affected most risk assets, including Gold and crude oil.
With Fed Chair Jerome Powell striking a dovish tone in his FOMC speech on Wednesday – announcing the start of a Treasury Buyback program – the Sol price is now poised to mount a comeback.
Popular crypto analyst Jelle, who has over 80k followers, recently claimed that Solana will reach over $500 during this bull cycle.
Similarly, Sol was featured on the second spot of influencer Ran Neuner’s crypto buy list, published on May 1st.
New SOL meme coin ICO Sealana begins with a bang
Solana meme coins are somehow in even higher demand than Sol itself. After all, they have acted as leveraged bets on the SOL price, with tokens such as Dogwifhat delivering 4x returns as compared to Solana.
Now, a new meme coin, Sealana, has captured the imagination of smart-money traders and crypto influencers.
Its mascot – a fat, kick-ass seal with a diet of chips and tinned tuna – depicts a hilarious portrayal of a stereotypical crypto degen. Considering that crypto traders are heavily investing in meme coins that can make them laugh, it is no surprise that Sealana has raised close to $150k in its ICO in just over a day.
Following in the footsteps of other successful coins such as Slerf and Slothana, Sealana has also adopted an innovative fundraising model. Investors partaking in the presale can simply send SOL to the project wallet and receive SEAL tokens as an airdrop.
According to the Sealana website, investors will receive 6900 Sealana tokens for every SOL invested.
Experts and crypto influencers have already begun taking notice of this new meme coin. Popular YouTube channel Cryptonews highlights in a recent video that Sealana could potentially deliver up to 100x gains after its launch.
To learn more about this project, visit the Sealana presale website
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