Is excitement returning to SOL-related tokens? The impressive performance seen today for some Solana coins is attracting a lot of attention in the crypto world. Here are the prominent details of these exciting developments…
Solana coins rose
Some Solana coins experienced significant increases in their market value. These tokens attracted the attention of major crypto exchanges and likely contributed to the rise. Positive market trends and the rise of Solana (SOL) are cited as possible factors behind this price increase. Today (January 9), some of the best-performing cryptocurrencies include Solana coins Bonk Inu (BONK), Jito (JTO), and Dogwifhat (WIF). BONK has increased by approximately 30% in the last 24 hours (according to CoinGecko data), increasing its market value to over $800 million. JTO, on the other hand, had a more modest 6% increase.
One of the factors in the positive performance of these tokens may be OKX’s decision to list them on spot trading markets on January 8. Let us recall that other leading crypto exchanges such as Coinbase and Binance had also previously adopted BONK, contributing to its all-time high price in December. Despite not being on OKX’s list, the latest sensation in the crypto market, Dogwifhat (WIF), is still impressive today. Memecoin is currently trading around $0.13, representing a massive 88% increase over the last 24 hours.
Bullish sentiment in the market
Another factor that triggered the price increase for BONK, JTO and WIF could be the impact of the general green wave in the cryptocurrency market. The fact that Bitcoin broke through the $47,000 level a few hours ago for the first time since the spring of 2022 may be due to expectations of the spot BTC ETF coming to light in the US. But perhaps most importantly, the rise of Solana cryptocurrencies may be linked to the rise of SOL. SOL has once again surpassed the $100 mark, increasing by over 12% in the last 24 hours.
According to some experts, the SOL is “showing signs of forming a bull flag.” Analysts suggested that breaking the $110 resistance tag could be the catalyst for an additional rise towards $163. These developments excite investors about the future of projects and tokens in the Solana ecosystem. However, given the volatile nature of the crypto market, it is important for investors to remain cautious and monitor market conditions closely.
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