Solana meme coins show signs of recovery after a sluggish start of the week.
The catalyst for this upward movement appears to be the surge in SOL price, which climbed from around $123 to $138, or around a 10% increase.
As often observed, Solana’s recovery lifted the boats of its ecosystem’s meme coins, with BONK outperforming others.
At the same time, a new player in the Solana meme coin arena, Sealana is getting ready to wrap up its presale phase.
The project has announced an airdrop of tokens scheduled for July 2nd at 1 PM UTC. However, there are still opportunities for last-minute SEAL token purchases.
BONK Price Analysis
The BONK price is currently trading at approximately $0.000022.
Despite the general downturn in the crypto market, BONK has managed to secure a 5% gain this week. This means that BONK outperformed many other top meme coins that are trading “in red” during the same period.
It’s worth noting that another Solana meme coin, MOG, pumped around 50% during the same period.
Despite this recovery move, BONK is still down over 50% from its all-time high (set earlier this year). The current market cap is now around $1.5 billion.
We took a look at the BONK/USDT chart; and this one reveals that since late May, the price has been trading in the descending channel. This is indicated by blue lines on the Bonk price chart below:
In general, a descending channel is a bearish pattern where price action is contained between two downward-sloping parallel lines. We can see that the BONK chart is attempting to break out of this channel, but it isn’t quite there yet.
Technical indicators are not painting a particularly optimistic picture for BONK at the moment.
RSI sits at 36 which is bearish, since it’s well below the neutral 50 level, and even more below bullish levels (50-70).
Additionally, the MACD line is below the MACD signal line; another bearish signal.
Despite the weekly gains, the BONK price saw a 6% drop today. So this aligns with these bearish technical indicators.
Looking forward, it’s challenging to anticipate a strong BONK rally until the broader market sentiment turns decisively bullish.
While Bitcoin has shown some resilience by holding around the $60,000 mark and bouncing to $61,000, stronger upward momentum is needed to fuel a bigger meme coin pump.
Sealana: New Solana Meme Coin Announces Finish of Their Presale and Tokens Airdrop
As BONK navigates choppy waters, a new Solana meme coin called Sealana has been making headlines with its successful presale, raising over $6 million.
The team behind the project announced on Twitter that their presale has concluded, with the airdrop scheduled for Tuesday, July 2nd at 1pm UTC.
The airdrop will distribute tokens to the respective wallets used for purchasing during the presale. However, whoever is interested, can still buy SEAL at a discounted presale price, until July 1st, at 1pm UTC.
You can buy SEAL not only on the Solana network, but also on Ethereum and BNB chains, as well as with a credit card.
Sealana is set to launch on Solana DEXes such as Raydium and Jupiter on the same day as the airdrop.
Even though Sealana doesn’t offer any technical utility, it has successfully tapped into the viral Solana meme coin trend early on.
Sealana features a distinctive mascot – a chubby seal character inspired by the Gamer Guy from South Park, reimagined as an unhealthy seal obsessed with crypto trading.
Popular YouTuber Matthew Perry told his 223k subscribers that Sealana “might be a gem” in one of his latest videos.
The project is very active on social media platforms (which is basically crucial for any meme coin). This resulted in its Twitter following surpassing 13,000 and its Telegram account exceeding 20,500 members.
Conclusion
To sum it up – we have BONK trying to claw its way back up, but it’s not exactly smooth sailing. The charts aren’t looking too hot, and it seems like BONK’s gonna need the whole crypto market to perk up before it can really take off again.
Meanwhile, Sealana pulled in a decent chunk of change with their presale, and now they’re gearing up for this big token airdrop.
It’s got people talking, that’s for sure. This one could potentially be “the big thing” in the Solana meme coin ecosystem.
