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Reading: Market Trends Indicate Growth Potential for Solana, Shiba Coin, and PEPE Coin
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COINTURK NEWS > Technical Analysis > Market Trends Indicate Growth Potential for Solana, Shiba Coin, and PEPE Coin
Technical Analysis

Market Trends Indicate Growth Potential for Solana, Shiba Coin, and PEPE Coin

In Brief

  • BTC shows potential for new highs, but caution remains necessary.

  • Solana and its SOL Coin are witnessing a resurgence in interest and value.

  • Shiba Coin and PEPE Coin are affected by Ethereum's price movements.

Fatih Uçar
Fatih Uçar 5 months ago
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While BTC is moving towards new daily highs, it is still too early for excitement among traders before the daily close. Altcoins are returning to positive territory, and BTC may set a new peak above $108,000 before the year ends. There are numerous factors contributing to both optimism and negativity regarding 2025. What are the latest predictions for Solana $161, Shiba Coin, and PEPE Coin?

Contents
Solana (SOL)Shiba Coin and PEPE Coin

Solana (SOL)

Solana has a total locked value exceeding $8.51 billion. Following the collapse of FTX, the TVL fell below $250 million, but this year saw a new peak above $9.44 billion. This data indicates that liquidity on the network and investor interest are returning to 2021 levels.

The journey of SOL Coin since dipping below $9 has been exciting. At the time of writing, SOL Coin is targeting $200. After testing the support level at $178, SOL Coin is rising again.

Following this, it is expected that SOL Coin will break above $210 and turn $224 into a support level. We have previously highlighted this point as a significant support level. The next targets would be $246, $260, and eventually aiming for a new ATH above $300.

In January, if the meme coin frenzy returns on the Solana network and new investors inject liquidity, the rise of SOL Coin could accelerate significantly.

Shiba Coin and PEPE Coin

An increase in Ethereum $2,578‘s price will positively impact the largest meme coin on the network, PEPE. After testing $0.00001449, like other cryptocurrencies, PEPE Coin began targeting resistance levels. If closures remain above $0.0000189, the popular meme coin could focus on the range of $0.00002288 to $0.00002694.

A swift rebound in ETH’s price will support this upward movement. Long held below its ATH, ETH has shown weak performance, and historical data suggests an upward trend should begin in 2025.

Shiba Coin remains the second-largest meme coin, continuing the day with a 6% increase.

Meme coins have many alternatives, but Shiba Coin cannot be overlooked due to its efforts to build its ecosystem. After testing the parallel channel support at $0.00002087, the focus is back on the mid-range target of $0.00002528. If momentum continues, the resistance at $0.00002943 may come into play.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 24 December, 2024 - 10:45 pm 24 December, 2024 - 10:44 pm
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