{"id":3549,"date":"2024-06-12T02:15:55","date_gmt":"2024-06-12T02:15:55","guid":{"rendered":"https:\/\/solanacrypto.news\/2024\/06\/12\/can-solana-price-touch-200-amid-market-volatility\/"},"modified":"2024-06-12T02:15:55","modified_gmt":"2024-06-12T02:15:55","slug":"can-solana-price-touch-200-amid-market-volatility","status":"publish","type":"post","link":"https:\/\/solanacrypto.news\/2024\/06\/12\/can-solana-price-touch-200-amid-market-volatility\/","title":{"rendered":"Can Solana Price Touch $200 Amid Market Volatility?"},"content":{"rendered":"
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Bitcoin has slipped off the $70,000 mark, sending a ripple effect across the broader crypto market, with top coins shedding off past gains.\u00a0<\/span>Amid this bearish sentiment, Solana (SOL) tumbled from the $170 threshold and now plays below the $155 price.\u00a0<\/span><\/p>\n

SOL trades<\/span> at $154<\/span>, marking a 4% decline in the last 24 hours. With a volume of $2.1 billion, it<\/span>\u00a0has lost nearly 7% of its past week\u2019s gains. But can Solana (SOL) recover? Let\u2019s explore the possibilities.<\/span><\/p>\n

SOL Recent Price Actions<\/h2>\n

Solana attained a monthly high of $187 on May 20. However, things didn\u2019t sit still as the price started declining, with SOL reaching $160.\u00a0<\/span>Although SOL soon recovered momentum to hit above $174 on June 6, the tides have turned due to ongoing market turbulence.<\/span><\/p>\n

Solana consolidated between $162 and $174 from May 26 to June 06 but has now slipped off this price range. Given the ongoing bearish pressure, Solana (SOL) has plummeted below the $156 support.<\/span><\/p>\n

Solana Price Analysis: Can SOL Rebound to $200?<\/h3>\n

\"Solana\n<\/picture>\n

The daily chart shows that SOL is still stuck in a long-term bearish trend. The price has tried to break this trend several times but failed as sellers continue to dominate.<\/span><\/p>\n

The above chart shows a bullish fair value gap (FVG) around the $154 price level. Asset prices typically rebound from this level as demand forces often exceed supply. But, if the buying pressure doesn\u2019t hold at the FVG level ($154), SOL might keep falling.\u00a0<\/span><\/p>\n

However, support around the $121 threshold could stop further decline. This area has a lot of liquidity, which could boost the price significantly.<\/span><\/p>\n

If the price finds its footing here and bounces back, combined with a break above the downtrend line, SOL could hit $209. This would represent more than a 72% increase from the $121 level. <\/span>Meanwhile, the RSI approaches the 30 level, indicating SOL is nearly oversold.\u00a0<\/span><\/p>\n

Solana Network Booming, But Can Price Follow?<\/h2>\n

\"Solana\n<\/picture>\n

The Solana network shows strong signs of growth. According to <\/span>The Block<\/span><\/a>, nearly half a million tokens were launched on the Solana network last month.\u00a0<\/span>Additionally, the number of active addresses on the network hit a record high in May, with over 1.78 million users interacting with Solana.\u00a0<\/span><\/p>\n

So, what does all this mean for the price of SOL? Generally, these metrics are a good sign for the Solana network. It shows traders and investors are finding value and utility in the platform.<\/span><\/p>\n

As more people use and develop on the platform, the demand for SOL tokens could rise, pushing the price of SOL up soon.<\/span><\/p>\n

PlayDoge Presale Raises $3.5 Million: Could This Be the Next Crypto to Explode?<\/h2>\n

While the price trajectory of coins like Solana remains unpredictable, investors looking to diversify can boost their portfolios with new projects with massive growth potential, like PlayDoge.\u00a0<\/span><\/p>\n

Since its presale started, PlayDoge has attracted significant investor attention. In just two weeks, the project raised $3.5 million out of its $4.2 million target, a feat that echoes its appeal to investors.<\/span><\/p>\n

Based on this, some believe PlayDoge ($PLAY) could surge 10-fold this year, placing it among the hottest meme coins in 2024<\/a>.\u00a0<\/span><\/p>\n

PlayDoge\u2019s utility token, $PLAY, has been in the spotlight for the past few days. Notable news outlets and influential crypto pundits, like the famous crypto YouTuber Jacob Bury, mentioned it. Jacob Bury <\/span>believes<\/span><\/a> PlayDoge could post a 10x rally in value once it launches on crypto exchanges.<\/span><\/p>\n

Moreover, PlayDoge proves its value by combining the meme allure with a video gaming utility. It uses a Play2Earn model to incentivize users, encouraging sustainable community engagement. <\/span>This makes $PLAY one of the most profitable presales to invest in 2024.\u00a0<\/span><\/p>\n

$PLAY currently trades at $0.00506, and its price will increase in less than 24 hours. Interested investors should take advantage of this window to accumulate enough PLAY coins before the price increases.<\/span><\/p>\n

PlayDoge\u2019s P2E Attract More Investors to the Presale<\/h3>\n

Crypto projects with real-world utility are considered more sustainable. So, PlayDoge\u2019s gaming utility makes it attractive to investors. In the PlayDoge game, players can earn $PLAY coins each time they care for virtual pets.\u00a0<\/span><\/p>\n

The best players are shown on a leaderboard, which is a list that ranks players by their performance. High-ranking players can get extra $PLAY tokens and special prizes.\u00a0<\/span><\/p>\n

In addition, you can trade the token you earn from playing the game on crypto exchanges for ETH or BTC.<\/span><\/p>\n

Further, the project has a <\/span>staking feature<\/span><\/a>, where you can earn extra income by locking up your tokens for a certain period. Investors who start now can earn a reward of 288% APY for staked tokens. <\/span>Already, more than 66 million $PLAY tokens have been staked. The yield will decline as more gets staked.<\/span><\/p>\n

PlayDoge has new and exciting features and solid technology, providing a strong foothold in the market. With the right approach, PlayDoge could be a pioneer in crypto gaming.<\/span><\/p>\n

To participate, visit the <\/span>official website<\/span><\/a> and purchase your $PLAY coins using ETH, USDT, or a bank card.<\/span><\/p>\n

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