Meme coin caused Solana price to rise by 40% in a week

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Quote from: justdimin on January 15, 2023, 01:55:54 AM

Quote from: SquallLeonhart on January 14, 2023, 03:44:49 AM

Quote from: krishnaverma on January 05, 2023, 12:58:24 AM

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

There will always be some pumps in the market, even on the worst days look at CMC and you will see highest gainers being a lot, and you know you won't be picking that up. Many people hope that they would buy a token, and that token would be the highest earner of the day but we all know that is not going to be the case, very few people have it and that is why it goes up that much, since it lacks liquidity so even a million dollars will make it 3000% increase.

In any case, stay with the good ones, the big names, because they would give you a good long term profit instead of a pump and dump, and less risky to keep your money there as well.

It is definitely a rare situation to find 10% or more on a red day or even a red week, but they do exists. However, we are in a good week now, which means that there were some money going around in the market and it just didn't know where to land. We have managed to get a higher amount of funds and increase everything basically, the market looks as green as eyes can see which is a great situation to be in.

I am not saying that this increase was done because of the market situation, it came earlier but at the same time the outlook towards market must be a bit green during this period if we are talking about a following market being this much greener.

To early to say, I guess. Also the increase might be because of the CIP report which somehow made an inddirect impact towards Bitcoin market price which then, triggered a domino effect towards other cryptocurrencies.It is still hard to tell whether the increase would be continuous but it does seem that it won't; we have already saw yesterday that the market prices decline already. However it is still a good market indicator to see this market in general show signs of recovery from being 'burried' for a couple of months. We may also see more price spikes this year but if you are looking for a longer one, that would more likely occur in 2024 concerning anticipated Bitcoin halving.

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Quote from: Chainsmokers on January 14, 2023, 01:06:53 PM

Quote from: krishnaverma on January 05, 2023, 12:58:24 AM

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

in my opinion the meme coins on the solana network are only manipulated by whales or called pump and dump,
it is very high risk if you believe and buy meme coins in a market situation like this,
don't trust meme coins other than doge and shiba because you can lose your money there.

It's true what you said that meme coins are only used for pum and pum but after the pope can achieve a big profit then all of his assets are sold and shit will happen very quickly 🤣.
For the past weeks there has been a lot of hype about Memecoin or Shitcoin so that there are many that fly but only for a moment and can't survive.
I myself don't believe that Memecoin or Shitcoin is a good choice to make a long-term investment because it has a bigger risk than investing in other coins that already have real evidence such as ETH or Bitcoin.

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Quote from: SquallLeonhart on January 14, 2023, 03:44:49 AM

Quote from: krishnaverma on January 05, 2023, 12:58:24 AM

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

There will always be some pumps in the market, even on the worst days look at CMC and you will see highest gainers being a lot, and you know you won't be picking that up. Many people hope that they would buy a token, and that token would be the highest earner of the day but we all know that is not going to be the case, very few people have it and that is why it goes up that much, since it lacks liquidity so even a million dollars will make it 3000% increase.

In any case, stay with the good ones, the big names, because they would give you a good long term profit instead of a pump and dump, and less risky to keep your money there as well.

It is definitely a rare situation to find 10% or more on a red day or even a red week, but they do exists. However, we are in a good week now, which means that there were some money going around in the market and it just didn't know where to land. We have managed to get a higher amount of funds and increase everything basically, the market looks as green as eyes can see which is a great situation to be in.

I am not saying that this increase was done because of the market situation, it came earlier but at the same time the outlook towards market must be a bit green during this period if we are talking about a following market being this much greener.

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Quote from: krishnaverma on January 05, 2023, 12:58:24 AM

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

in my opinion the meme coins on the solana network are only manipulated by whales or called pump and dump,
it is very high risk if you believe and buy meme coins in a market situation like this,
don't trust meme coins other than doge and shiba because you can lose your money there.

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Quote from: krishnaverma on January 05, 2023, 12:58:24 AM

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

I am not so sure that the Solana pump was caused by the launch of a new meme coin. I am inclined to associate this circumstance with Vitalik Butorin's tweet, which he published on December 30, 2022 - https://twitter.com/vitalikbuterin/status/1608591727316684804 It was after this tweet that we saw how the Sol coin began to steadily increase in price.

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Quote from: krishnaverma on January 05, 2023, 12:58:24 AM

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

currently there is indeed a hype meme coin that stands on the Solana network and one of the ones that is currently hype is Bonk. basically the word hype is just a current trend and can't be for the long term, it's only temporary. as we can see Bonk has started to throw away everything and the price is dump, do you still believe in that?
I think any meme coin that's currently hype is good for quick profits and when you make a profit sell it, don't expect the price to go any higher before you will lose your money and be 0.

SquallLeonhart

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Quote from: krishnaverma on January 05, 2023, 12:58:24 AM

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

There will always be some pumps in the market, even on the worst days look at CMC and you will see highest gainers being a lot, and you know you won't be picking that up. Many people hope that they would buy a token, and that token would be the highest earner of the day but we all know that is not going to be the case, very few people have it and that is why it goes up that much, since it lacks liquidity so even a million dollars will make it 3000% increase.

In any case, stay with the good ones, the big names, because they would give you a good long term profit instead of a pump and dump, and less risky to keep your money there as well.

Abiky

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Quote from: krishnaverma on January 05, 2023, 12:58:24 AM

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

Well, it's a "meme" coin so don't expect much from it anytime soon. This is just the hype of the moment where noobs could get "rekt" big time if they're careless. Besides, why would anyone take Solana seriously when it's flawed by design? The new "meme" coin might've pumped SOL's price right now, but for the latter cryptocurrency to maintain its prices, it's going to need to bring something out of this world. Otherwise, it'll become history.

The crypto market is widely unpredictable, so I'd suggest anyone to proceed with caution. As long as you diversify your investment, there should be nothing to worry about. Who knows what would be of the "meme" coin and Solana 10 years from now? Just my opinion

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Quote from: Cee2 on January 09, 2023, 04:10:23 AM

The next hype seems to be the FRONK token on Solana.
-snip-

Never. Such coins are born out of a desire to get their share of the hype and some of the money on the wave of success of a more popular meme coin. That's why such clone projects will never be the next hype. If you want to be guaranteed to lose your money, you can invest your money in this next clone and be greatly surprised that it did not meet your expectations. There are about 20-23 projects like FRONK for last few days and all of them are total garbage and not worth paying attention to.

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The next hype seems to be the FRONK token on Solana.

I really dislike meme coins but I like the fact that Solana is catching a break.

It has one of the most active communities I’ve seen.

As such it’s always good to see such projects surviving/growing.

My Twitter: https://twitter.com/A_mo1111_

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Quote from: Ngemmeng on January 07, 2023, 02:19:47 AM

my opinion is not good. SOLANA is a big altcoin and if the price of SOL goes up because of a meme coin it is not a good thing because meme coins are coins with no utility and relying solely on hype. I know that this coin has been listed on many exchanges but there is no reason for investors to hold on long term because this coin has no utility and the hype could end anytime. after the hype ends this coin will be abandoned by most investors and the price drops sharply, and of course it will also have an impact on the price of SOL.

there has been cases of meme coins quite literally helping the coin of the platform they were in to increase in value but like you said, once the trend is dumping, the value of that coin will also decrease, even though this may be temporary for solana, but it's still a good thing at least it still helps sol in reaching higher value and everyone could think of liquidating their solana at the moment, i'm sure after ftx collapses so many are actually waiting for this moment to finally occurs.

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Quote from: OgNasty on January 07, 2023, 04:34:05 PM

Now that it has come out that Solana was a shitcoin pumped with stolen FTX customer money that was meant to be used to buy Bitcoin, I’m surprised there are still people willing to mess with it. It’s the best example I can think of that it’s easier to scam someone than to convince them that they’ve been scammed. SOL was a scam and if you held it you lost money. A meme coin being airdropped to scammed users is the scammers double dipping. Don’t get scammed twice. Now is the time to stack BTC. Use some sense.

SOL is also a victim here and they are struggling to prove their innocence but with this action, maybe its a little too risky to introduce a meme token under their platform, imagine if the hype is over with that meme token you can expect for the dump and that could also affect SOL. This is not good in long term and SOL should continue to improve if they still want to stay in the top position or else, heir investors will dump this coin slowly.

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Quote from: Yamifoud on January 08, 2023, 09:07:18 AM

Quote from: Furious 7 on January 07, 2023, 04:12:29 PM

I actually think this is a little dangerous because in any case their interest is only temporary because of some hype in their token and of course we can't let go of Bonk in this case.

No, it was not just a little dangerous but I consider it big and as an investor, I won't put my money at risk knowing that was hype only. It pumps without a valid reason, it definitely drops drastically and brings losses to the investors.

I think as long as you are not there then why are you afraid of it. The big problem might be for those who are in a state of following the coin but otherwise I don't think it would be too much of a problem.

Quote from: Yamifoud on January 08, 2023, 09:07:18 AM

Quote

To be honest, I don't really like hype conditions like this because in the end, after their increase, many people will find it difficult and say they are deceived again due to buying at a large price in the end because this shitcoin will indeed be thrown away and I'm sure of that.

Then I hope newbies have that kind of thinking otherwise, they will become a victim of such a trick.
We always keep in mind that Solana is a meme coin, we can never expect anything good from them aside from higher risk and losses.

It's hard when the stigma is still where most people are when they say "Crypto is an instant place to get rich" because if that kind of thinking still exists then there will still be lots of people who are in unclear hype and always follow the pump and dump.

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Quote from: Furious 7 on January 07, 2023, 04:12:29 PM

I actually think this is a little dangerous because in any case their interest is only temporary because of some hype in their token and of course we can't let go of Bonk in this case.

No, it was not just a little dangerous but I consider it big and as an investor, I won't put my money at risk knowing that was hype only. It pumps without a valid reason, it definitely drops drastically and brings losses to the investors.

Quote

To be honest, I don't really like hype conditions like this because in the end, after their increase, many people will find it difficult and say they are deceived again due to buying at a large price in the end because this shitcoin will indeed be thrown away and I'm sure of that.

Then I hope newbies have that kind of thinking otherwise, they will become a victim of such a trick.
We always keep in mind that Solana is a meme coin, we can never expect anything good from them aside from higher risk and losses.

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Quote from: bitgolden on January 07, 2023, 03:51:22 PM

Quote from: traderethereum on January 06, 2023, 04:15:03 AM

Maybe they want to pique the interest of investors by pumping in the meme coins launched on the Solana network and I guess that's normal because we've seen it happen a lot before too.
We must be aware of this because this is not a good or bad sign. After all, we also don't know how the project will go.
I also wouldn't think too much about whether the meme coin project would still be trending and would rather focus on bitcoin.
And if people still want to follow the meme coin project, they need to be very careful.

If you have a lot of money, then making the price go up is the best marketing you could do for any project. If people see it growing so large, they will take an interest and look what caused the huge increase, and they will see what you are doing and your meme coin and so forth which they might invest into.

All because you increased the price of your own coin. SOL did this basically, they just increased the price by buying from themselves and this caused the price to go up, and get the interest from the market in general which they used to pump their BONK token as well. I believe both of them will go down very very hard in a week or so.

Raising prices without giving any notice won't help because people will think it's a pump and dump scheme and so will stay away from it.
But if there is new information about the project and investors think it is worth investing in, they will definitely come and start investing in it.
By now, people probably know how to find new projects worth investing in, although there are still people who don't know how to choose one.
We'll see what happens after this if the coin can keep the attention of the investors or it will drop very hard.

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Now that it has come out that Solana was a shitcoin pumped with stolen FTX customer money that was meant to be used to buy Bitcoin, I’m surprised there are still people willing to mess with it. It’s the best example I can think of that it’s easier to scam someone than to convince them that they’ve been scammed. SOL was a scam and if you held it you lost money. A meme coin being airdropped to scammed users is the scammers double dipping. Don’t get scammed twice. Now is the time to stack BTC. Use some sense.

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I actually think this is a little dangerous because in any case their interest is only temporary because of some hype in their token and of course we can't let go of Bonk in this case.
To be honest, I don't really like hype conditions like this because in the end, after their increase, many people will find it difficult and say they are deceived again due to buying at a large price in the end because this shitcoin will indeed be thrown away and I'm sure of that.
On the other hand this is temporary because regardless of anything we are still in a bearish condition regardless of the current Solana prices they are still going back to where they started at the bottom.

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Quote from: traderethereum on January 06, 2023, 04:15:03 AM

Maybe they want to pique the interest of investors by pumping in the meme coins launched on the Solana network and I guess that's normal because we've seen it happen a lot before too.
We must be aware of this because this is not a good or bad sign. After all, we also don't know how the project will go.
I also wouldn't think too much about whether the meme coin project would still be trending and would rather focus on bitcoin.
And if people still want to follow the meme coin project, they need to be very careful.

If you have a lot of money, then making the price go up is the best marketing you could do for any project. If people see it growing so large, they will take an interest and look what caused the huge increase, and they will see what you are doing and your meme coin and so forth which they might invest into.

All because you increased the price of your own coin. SOL did this basically, they just increased the price by buying from themselves and this caused the price to go up, and get the interest from the market in general which they used to pump their BONK token as well. I believe both of them will go down very very hard in a week or so.

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Quote from: krishnaverma on January 05, 2023, 12:58:24 AM

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

By 40% in the last week? Where did you get that data? This meme coin has made several thousand percent profit in a week and is not slowing down. Judging by the way it is actively added to their listings by various major exchanges, the growth may continue for the foreseeable future. Although I'm against meme coins and don't consider them something valuable, this coin is really very different from many of its competitors and counterparts.

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Quote from: krishnaverma on January 05, 2023, 12:58:24 AM

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

For sure regardless, if it is a meme in the internet that a lot of internet users are familiar with is surely will sell anyway. I have not invested to Solana, but when we're talking about memes, it is surely going to be a short-term "good thing" for Solana though I would not count on it in the long-term.

Trends die at the end and memes count along with that. Also worth mentioning that hypes tend to die out in few months or so.

Topic: Meme coin caused Solana price to rise by 40% in a week (Read 519 times)