The meme coin markets on Solana continue to surge, with the latest token, Christ is King, experiencing an astonishing increase of over 770,000% in 24 hours.
This article will provide an analysis of CHRIST’s current price trends, and look to see whether the latest incarnation of Dogecoin, represents a more promising investment opportunity.
He will return & every knee will bow. He loves you<3#ChristIsKing pic.twitter.com/VR0a2NRIjm
— cryptofink (@cryptoyouthfink) March 28, 2024
CHRIST’s major breakout on Solana meme coin markets comes amid a continued appetite for the latest moon-sh0t, with Christ is King rising dramatically due to sudden viral success on X.
CHRIST Price Analysis: As New Solana Meme Coin Consolidates – Could This Other Coin Outperform?
With price action astride lower support, Christ is King is currently trading at a market price of $0.000109 (representing a 24-hour change of -46.84%).
This comes after CHRIST launched at just 19:00 (UTC) on March 26, in a DEX listing that gained almost immediate traction – as the fresh Solana meme coin hammered up +864% in the first few hours.
A strong support level was established above $0.000105, setting the stage for further gains as price exploded due to a sudden influx of more than $500k in trading volume.
Prices rocketed up amid the flurry of interest, and this supercharged price action to fire up a further +1,428% – hitting an all-time high at $0.0011 around 7 AM (UTC) on March 28.
Yet, with early investors sitting atop impressive 770x gains, the retracement was inevitable, and a subsequent sell-off move saw CHRIST tumble -80% to lower support at $0.000105.
In a lengthy, hard-fought consolidation pattern, CHRIST token is struggling to make headway, with buy pressure dwindling to just 36% of transactions over the past hour.
However, with a lowly market cap of just $457k, there is still a good degree of upside potential available if holders can trigger an influx of fresh capital.
But while CHRIST holders battle on, a new meme coin presale has unlocked unhinged viral success as retail investors flock to 2024’s incarnation of the infamous Dogecoin.
Supercharge Your 2024 Skyrocket With Dogecoin20: Capitalizing on the Viral Presale Hype
The recovery of meme coin markets in 2024 has been nothing less than impressive, and this resurgence is fueling interest in Dogecoin20, a new ERC-20 token currently in its presale phase – offering retail investors the chance to get in early at an ultra-low market cap.
Developers describe the Dogecoin as part of the “Dogecoin family of meme coins.”
However, unlike DOGE, there is more utility to Dogecoin20 holders since they can stake and earn rewards.
Additionally, Dogecoin20 attempts to differentiate itself from other meme coins by offering a capped supply and a staking mechanism, features not present in Dogecoin.
This could incentivize long-term participation and address concerns about inflation.
But the real opportunity lies in Dogecoin20’s market cap (around $10m), which is just a fraction of Dogecoin’s $26.6Bn, imagine if Dogecoin20 repeated just 1% of Dogecoin’s success.
That would mean a 30x return for presale investors – an easy target in bull market conditions.
Exciting News for #DOGE20 Community!
We’re thrilled to announce the $DOGE20 Claim date!
Save the date: April 20, 2024 – INTERNATIONAL DOGE DAY! We’ve strategically chosen this iconic day to celebrate the spirit of #DOGE20 with our amazing community. pic.twitter.com/GxVaOyOInl
— Dogecoin20 (@DOGE_COIN20) March 26, 2024
Dogecoin20 will likely capitalize on the “replica play” on DOGE and possibly attain the same viral success.
Strategically, the meme coin creators are tapping into high expectations ahead of the Bitcoin halving event.
Dogecoin20 will launch on April 20, around 24 hours after the event.
The post ‘Christ’ Token’s Miraculous 770x Leap Sparks Buzz, Eyes on Next Big Coin to Pump appeared first on Cryptonews.