Solana price has done well this year and is now hovering near its all-time high. In our recent post, we predicted that the SOL price would ultimately jump to over $500 in the ongoing crypto bull run. If this forecast is accurate, analysts believe that some Solana meme coins will do much better. Here are some of the top Solana meme coins for 10x returns.
Bonk | BONK
Bonk, the OG of the Solana meme coin ecosystem, has been a great investment in the past two years. It has jumped by over 21,000%, making it one of the best-performing cryptocurrencies on record. This jump has pushed its market cap to over $3.5 billion.
Bonk still has more room to run if the crypto industry continues doing well. On the weekly chart, we see that the Bonk token has been in a strong bullish trend in the past few months. Recently, however, it has dropped in the past two consecutive weeks. It has retreated by about 22% from its all-time high.
This decline is important because it was part of the cup and handle chart pattern, which is a popular bullish sign. In this case, the depth of the cup is about 70%, meaning that the coin may now jump by the same amount in the coming months.
The bullish case is made by the fact that the BONK price is about to form a hammer candlestick pattern, a highly bullish sign. More gains will be confirmed if the token jumps above the all-time high of $0.000059.
Read more: Bonk Price Prediction: Can The OG of Solana Meme Coins Rebound
Dogwifhat | WIF
Dogwifhat is the second-biggest Solana meme coin with a market cap of over $3.2 billion. The WIF token has struggled in the past few weeks as investors have turned their focus on newer meme coins like GOAT and PNUT. It has fallen by over 31% from its highest level this month.
On the positive side, WIF has formed a falling wedge chart pattern, a popular sign of a bullish reversal. This pattern is characterized by two falling and converging trendlines. In most cases, an asset usually makes a strong bullish rebound when the two lines near their convergence,
The recent retreat was part of a break-and-retest pattern as the coin moved back to $2.89, the neckline of the inverse head and shoulders pattern. The retreat was also part of the fourth wave of the Elliott wave pattern. Therefore, with the retest completed, there is a likelihood that the coin will bounce back and soar to $10 in the ongoing crypto bull run.
Popcat | POPCAT
Popcat is another Solana meme coin that could experience strong gains in the next few months. Like Dogwifhat, it has been left behind in the ongoing bull run as it has dropped by over 34% from it highest level this year.
POPCAT has also dropped below the important support level that is drawn by connecting the lowest swings since September 24. It has also dropped below the 50-day moving average, signaling that bears are in control for now.
However, the Popcat price has also formed a small doji pattern, meaning that a rebound will happen. If this happens, the first target will be the year-to-date high of $2.07. A move above that level will point to more gains, potentially to $5.
Summary on Solana meme coins
BONK, WIF, and Popcat are the top three blue-chip Solana meme coins that could generate 5x returns or more. However, the best approach to trade these meme coins is to watch out for new hyped tokens as we saw with GOAT and PNUT, which moved from nowhere and surged.
