➠️Caution These are the three Solana ecosystem tokens you should avoid purchasing in April
♠️ 🔥🔥In its DeFi ecosystem, Solana ($SOL ) is experiencing tense times due to network problems, congestion bugs, transaction failures, and rug pulls.
In light of this, Finbold has decided to steer clear of three Solana tokens this month due to uncertainty.
It's noteworthy how, in 2024, the Solana ecosystem has come into its own amid expansion and heightened consumer interest. SOL, the native token of the network, rose up the market cap rankings and is currently ranked among the top five most valuable cryptocurrencies.
Nevertheless, as meme coins and rug pulls began to rule the cryptocurrency market, investors became overly greedy. After this unsustainable change, traders of cryptocurrencies began reporting significant losses with tokens that quickly erased gains.
Avert the most popular meme tokens in Solana, dogwifhat (WIF) and BONK.
During the recent meme coin frenzy, Dogwifhat (WIF) led the market in terms of price performance, volume, and total interest. Furthermore, traders preferred the Solana ecosystem over other options when it came to speculating with these tokens, which broadened the appeal of WIF.
Memes like dogwifhat are now to be avoided because of the market's turn and traders' attempts to hold onto their gains.
It's interesting to note that WIF has two important supports below its current token price of $3.28. Initially, at approximately $2.0, where psychological factors also come into play, and then at $0.30.
This results in a massive liquidity gap between the nearest support ($2) and the lowest one ($0.30), which could lead to losses of 85%.🔥
