Important Dynamics in the Crypto Market: Solana and Meme Coins Attract Attention After BTC Halving
Another week in the dynamic field of cryptocurrency has ended, with amazing developments in the crypto business around Bitcoin, Solana, and Meme Coins. The long-awaited Bitcoin halving finally unfolded, and a bullish chain reaction immediately occurred after the milestone event for Bitcoin. At the same time, Solana implemented several upgrades to enhance the network's functionality. In addition, the meme coin industry has recovered after a slow season, sparking huge interest among investors.
Historical data shows that Bitcoin's price trajectory reflects a long-term consolidation phase after halving, followed by a gradual parabolic uptrend. This keeps cryptocurrency market traders and investors on their toes, and the token is expected to reach a new peak around December 2024 or February 2025. 🐳qun scab🍺玮：417072555At the same time, with the halving event, Bitcoin saw the first meme coin PUPS, and the Rune Protocol went online during the halving. These historical events have stirred up huge bullish sentiment among traders for Bitcoin’s future price action.
Solana Solves Network Congestion Issue
Ethereum’s eternal rival Solana ruled out a series of developments this week, primarily aimed at solving network congestion issues. Solana’s network congestion has caused the blockchain to face severe resistance from the crypto community, urging the Solana Foundation to take appropriate measures to resolve the aforementioned issues.
Notably, the project initially faced setbacks after Solana deployed v1.18.11 on the devnet with the help of Solana devshop Anza. However, the devnet was successfully restarted again on April 20, which bolstered optimism around Solana’s cryptocurrency ventures that have demonstrated efforts to resolve the issue.
Meanwhile, on April 15, Ethereum’s rival ruled out the possibility of a Solana network mainnet v1.17.31 release, further fueling optimism around the company’s efforts to resolve dynamic encryption issues. Together, this paints a bullish picture for the development of Solana’s native token SOL.
Amid a series of developments this week, the memecoin space also presented a series of breakthroughs that have attracted a great deal of attention from cryptocurrency market enthusiasts.Following the market’s pre-halving correction, the memecoin industry is showing signs of recovery, with DOGE, SHIB, and many other coins seeing price rebounds. Dogecoin’s crypto journey furthered this week as Bitmain revealed plans to expand support for DOGE mining. And Dogecoin’s competitor Shiba Inu also mirrored the recovery trend, with the coin further seeing a number of bullish events.
Shibaium, Shiba Inu’s L2, has seen a staggering surge in daily trading volume, while Shibarium token BONE has recovered along with the broader trend embodied by SHIB.
Shiba Inu’s head of marketing shared key insights into the newly launched PIKA and DAMN tokens, injecting optimism into Shiba Inu’s crypto career. Additionally, a new player entered the memecoin space, as mentioned above, PUPS, the first memecoin on Bitcoin. Together, these chronicles have fueled a huge curiosity among investors in the memecoin space, further fueling optimism for tokens across the cryptocurrency space.
