Remember Fartcoin? It went to a staggering $2.6 billion in market cap. Why? Because it was related to Truth Terminal, Truth Terminal constantly spoke about Fartcoin. Their funny slogan, “Hot air rises,” also rang well. A new one has come to light recently in Butthole Coin – could it be the best meme coin to buy?
It came forward with hundreds of KOLs on X, calling it “the next bitcoin,” and so it hit over $100 million in market cap within just days. Since then, Butthole coin has caught less attention and went on a deep retrace which might give us a good opportunity!
Solana altcoins tumbles amid less volume on Solana
As you can see on the screengrab from the Dune dashboard, the volume on Solana topped in late December and has since been declining week on week. We can go as far as calling it a mini bear market for Solana altcoins, and for Butthole Coin, it’s no different.
People are afraid of entering coins on Solana because people rotate to the next new coin just hours or days later, and hence, we’ve seen a total meltdown of all coins.
But with Bitcoin looking bottomed here and the same for Solana, we could see a bottom for these altcoins and volume to return sooner rather than later.
Ideally, to confirm this, you would wait for an uptick in on-chain volume and coins to be able to hold a pump for more than a few days. This means we’re at risk again for meme coins!
Butthole Coin Technical Analysis: Can Butthole Price Make a Comeback?
Butthole Coin looks to have found support on $10.5 million marketcap, the exact same place where it bottomed the first time it retraced after the initial pump. While it’s still a small move, a move above the $21 million market cap could confirm the bottom.
In the case we see $21 million market cap flipped for Butthole Coin we can start to look for a new target. This would be in the region with a $60 million market cap and the first higher high for weeks.
We would also need to see KOLs step back in with support to bring new people on board – making it one of the best meme coin to buy.
DON’T MISS: New Solana Layer 2 Could Be Best Meme Coin to Buy
A victim of its own success, Solana desperately needs a layer-2 solution capable of scaling the network effectively to meet the ever-increasing user demand.
Indeed, congestion has become a major issue on the Solana network, and with network downtime no longer a joking matter, it is no surprise that pioneering developers in the Solana community are already working on a new solution.
Solaxy (SOLX) is now in the presale stage, enabling savvy retail traders with good alpha (like this—congrats!) to get in ahead of the upcoming token launch. It has already skyrocketed to $20.7 raised, with $21M firmly in its crosshairs for the coming week.
Moreover, the SOLX team is also developing a high-speed ETH-SOL bridge that will enable users to rapidly transfer their ERC-20 assets onto the new SOL layer-2.
So don’t miss out; early-bird investors can seize the opportunity to enjoy super-high APY staking pre-launch (currently 215%) to supercharge their gains.
For those with Best Wallet, purchasing $SOLX is a breeze and can be done directly within the app.
Join the project’s community on X and Telegram to stay updated on its latest developments.
EXPLORE: Cardano Soars After Grayscale’s Spot ETF Filing – Best Crypto To Buy?
Key Takeaways
- Meme coins like Fartcoin and Butthole Coin gained value due to heavy social media attention to Truth Terminal.
- On-chain volume has been declining since December, leading to weaker performance.
- If Bitcoin and Solana have stabilized, meme coins could recover soon.
- Butthole Coin needs to break $21M market cap to signal a potential uptrend.
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