As the recovery process continues in the altcoin market, some lesser-known coins have started to increase their volume significantly. Social media and trading volume data show that preparations for the bull market have begun. Analysts' comments and details are as follows...
Solana-Based Altcoin Soars on Social Media$SOL
Solana-based meme coin FARTCOIN has attracted attention by gaining 100% in the last seven days. The token, which reached $1, also reached a peak of $199.59 million in trading volume. In addition, its influence on social media has increased, reaching 1.01%. This metric shows how much space a cryptocurrency’s discussions on social media take up when compared to the top 100 assets. The increase in social dominance shows that there has been a significant increase in interest in FARTCOIN.
Although FARTCOIN experienced a significant loss of 52.57% between November 29 and December 4, a strong buying wave has now been seen after the selling pressure during that period. The Bull Bear Power (BBP) indicator is currently in positive territory, indicating that the bulls are prevailing over the bears and increasing the possibility of an upward movement in price. Analyst Victor Olanrewaju predicts that the price of FARTCOIN could rise to $2. However, it is also stated that heavy profit taking could invalidate this forecast. There is also a possibility that the price could fall to $0.41. The impressive performance recorded in recent weeks has made FARTCOIN an asset that attracts attention not only with its price increase but also with its influence on social media.
If the current momentum continues, FARTCOIN is expected to climb higher in the market rankings. Investors are advised to carefully monitor profit-taking processes and be prepared for possible corrections. In this period when meme coins are gaining popularity, FARTCOIN is reaching new milestones and moving towards leadership in this segment.
Another development is related to Binance’s BNSOL token. BNSOL, which has become an important part of the Solana ecosystem, has grown rapidly in the liquid staking area with 4.8 million SOL being staked. The token, which is popular among Binance users, stands out as the largest Solana liquid staking token supported by decentralized exchanges (CEX).
BNSOL’s success reflects the overall growth of the Solana ecosystem. With investments in stablecoins, decentralized finance (DeFi), and physical infrastructure, Solana’s liquid staking rate is expected to double by 2024. Binance has made BNSOL one of the leading tokens in this ecosystem by offering advanced staking solutions. “Increasing the adoption and benefits of BNSOL is our top priority. Our partnerships with over 20 protocols provide a great opportunity to achieve this goal,” said Jeff Li, Vice President of Product at Binance. He also emphasized that the collaboration between Binance’s community and Solana ecosystems has contributed to the growth.