Solana’s$SOL
price is set to have its second-best month ever due to its strong ecosystem and broader market trends. SOL coin is up 39% this month and is trading near all-time highs. Similarly, Shiba Inu is also notable for increased whale activity, with its price heading toward the $0.000037 level. According to Arkham Intelligence data, a SHIB$SHIB
The super whale bought 98.196 billion SHIB, or about $2.54 million worth of tokens, from crypto exchange Coinone.
On the other hand, the Lunex Network (LNEX) crypto exchange aims to surpass current leaders like Uniswap and PancakeSwap. Lunex connects different blockchains into a single network, allowing traders to trade over 50,000 crypto pairs on a single platform. Amid the uptrend in the DeFi space, analysts are expecting a massive 1800% rally before Lunex’s official launch. Lunex Network brings cutting-edge smart contract technology to the DEX space, offering a more secure alternative for processing crypto trades. Encrypting all transactions over the Ethereum blockchain, Lunex offers traders a fast and secure trading experience. Furthermore, Lunex’s KYC-free policy ensures that users remain anonymous and allows them to trade at lower costs.
Lunex Network offers significant earning opportunities to investors looking to connect a B2B payment gateway to their corporate websites. Investors can earn up to 18% APY when they stake their LNEX tokens, while Web3 developers have the opportunity to develop dApps by taking advantage of the 65+ RPC nodes that Lunex offers.
Solana has gained over 30% in the past month, recording significant growth. This rise has been further accelerated by the influence of Solana’s thriving ecosystem and strong meme coin networks. The SOL token has broken through the critical resistance level at $210, its highest level since March 18. This also marks the top of a small cup and handle pattern seen between March and November. Solana’s price is retesting the $260 level at the top of a large cup and handle pattern. Based on the measurement of this pattern, Solana could rise to $500 in the coming months. Solana’s Relative Strength Index (RSI) shows that it is in an uptrend.
Looking at the Market Value to Relative Value (MVRV), the value is currently below 3, which suggests that the SOL token could continue this bullish momentum. If the market momentum and investor sentiment remain positive, Solana (SOL) could rise to $348.60 by the end of 2024. However, a negative market sentiment could push the price to $144.76.
A SHIB whale has caught the market’s attention by buying up the meme token at a rapid pace. The investor has significantly increased his portfolio, bringing it to $21.72 million. According to Arkham Intelligence data, this whale has bought 98.196 billion SHIB, worth $2.54 million. Despite this development, the Shiba Inu’s weekly and monthly gains were recorded at 5% and 39%, respectively (as per CoinMarketCap data).
Market experts believe that Shiba Inu has still not broken above key resistance levels and is not ready for a major breakout. Some analysts suggest that Shiba Inu could repeat its 2021 rally. It is also estimated that the SHIB token could surpass the $0.000037 level, which creates optimism in line with the Bitcoin price reaching the $100,000 level.
On-chain data shows that the price of Shiba Inu continues to test the critical resistance level around $0.000027. Since many addresses are in profit, their profit-taking behavior could put pressure on the price. If the SHIB price drops below this level, a major drop is possible.