⚠️Warning Don't buy these token in April ⚠️
🔥🔥3 Solana ecosystem tokens to avoid in April
🔥Solana (SOL) is going through delicate times facing network issues, congestion bugs, transaction failures, and rug pulls within its DeFi ecosystem. In this context, Finbold has selected three Solana tokens to avoid this month, while facing uncertainty.
It is notable how the Solana ecosystem has gained the spotlight in 2024 amid growth and increased market interest. The network’s native token, SOL, climbed market cap ranks and now positions itself among the five most valuable cryptocurrencies.
Previously, we published a list of the three best Solana tokens to invest in, highlighting solid projects of the ecosystem.
However, investors turned excessively greedy while meme coins and rug pulls started dominating the cryptocurrency market. Following this unsustainable shift, cryptocurrency traders started recording substantial losses with tokens that erased gains in a matter of hours.
Avoid dogwifhat (WIF) and BONK, Solana’s leading meme tokens
Dogwifhat (WIF) led the market in price performance, volume, and overall interest during the recent meme coin mania. Moreover, the Solana ecosystem was a clear winner in traders’ preference for speculating with these tokens, increasing WIF’s outreach.
Now, as the market pivoted and traders started looking for ways to keep their acquired profits, meme coins like dogwifhat should be avoided.
Interestingly, WIF has two key supports below its current price of $3.28 per token. First, at around $2.0, which also plays a psychological level, and later at $0.30. This makes for a huge liquidity gap of 85% potential losses from the closest support ($2) to the lowest one ($0.30).🔥
