Can New Solana Meme coin, Solciety Launch Improve Solana Price

17 июн. 2024 г.

Can New Solana Meme coin, Solciety Launch Improve Solana Price
Solciety (SLCTY), a meme coin on Solana blockchain, is set to launch on June 18, merging politics and memes.
Solana crypto slumped nearly 5.04% in intraday snipping of most of the gains in the last two sessions.

Solana price gathered confidence in the last two sessions amid the buzz of a new meme coin launch which was based on the Solana blockchain. However, the bears seemed to be returning back in intraday as the price has lowered again, snipping off most of the gains in the last two sessions.

Moreover, another Solana based meme coin Solciety (SLCTY) is making buzz in the cryptoverse ahead of its launch. The coin is set to be launched on June 18 creating an excitement among the Solana and meme community.
Solciety (SLCTY) All Set TO Be Launched Tomorrow?
Solciety, a meme coin based on Solana blockchain is set to be launched On June 18th. It aims to merge politics with the meme culture.

The heart of Society innovation lies in the Meme campaigner, a state-of-the-art platform for meme generation. This tool allows users to craft unique memes with ease, choosing from a vast selection of over 200 features, including various traits, backdrops, and typefaces.

To ensure the content's relevance, the Meme Campaigner included the latest news and current affairs, allowing users to create memes that resonate with the current ongoing trend.

The presale of this meme coin, Solciety is strategically structured to reward early supporters. Spanning for the last 30 days, the presale stages SLCTY tokens at incrementally rising prices.

Moreover, The initial phase allows investors to secure SLCTY tokens at a price of $0.000963. whereas, the price is anticipated to climb to $0.002167 by the final stage of the presale. A total of 3 Billion SLCTY tokens is to be allocated.
Can Solana Recover Amid The Memecoin Launch?
Moreover, the last two sessions went in green for Solana and the price recovered towards the $150 level. However, the bears made a comeback again in intraday today wiping off most of the gains.

At the time of writing, the Solana price was exchanging hands close to $143.45, recording an intraday drop of over 5.04%. Moreover, the daily chart showcases the formation of a declining channel pattern with the price currently hovering near the recent $140 level support.

Now, if the price breaks below the $140 level, it may slide near the lower demand zone of $130 level. On the higher side, the bulls need to surpass the recent dynamic resistance of 20 day EMAs at $157 to make a bullish trend reversal.
Conclusion.
Solana price rose recently due to excitement over the new meme coin, Solciety (SLCTY) which is set to be launched on June 18. However, the price fell to $143.45, a 5.04% drop, as bears returned in today's intraday trading.

At the time of writing, The price was hovering close to the $140 support level. The breakdown below the recent support could lead to a further decline to $130. Conversely, for a bullish reversal, the price must overcome the 20-day EMA resistance at $157. The market's focus is on whether Solana can maintain its gains amidst the fluctuating interest in the new meme coin.

Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.