It’s been a big year for Solana! In March, it hit a two-year high north of $202, the highest it has traded since December 2021. After Donald Trump won the election, SOL was on an uptrend yet again, surging past its March high to trade just shy of $220. Analysts believe that it could be primed to win even more this year following the US polls and an explosion in its DeFi and memecoin ecosystems. But it’s another memecoin, Yeti Ouro, that seems set to offer the biggest gains for investors who invest early before its inevitable implosion.
Solana Challenges Ethereum For The Throne
Solana is no longer an underdog. With a $103 billion market cap, it’s the fourth-largest cryptocurrency in the market and consistently ranks as one of the highest traded. It has also become a hotbed for memecoins, tokens, DeFi, NFTs and GameFi as developers seek alternatives to the high charges and scaling bottlenecks of Ethereum.
According to data from Coinmarketcap, Solana has gained 36% in the past week. This makes it the highest gainer among the top five coins.
Analysts believe that SOL is set for even higher gains. However, it needs to clear the crucial resistance levels of $251 and $257; it now trades 15% below these levels.
Solana investors are relying on a lot more than the performance of the token. One of the factors that will determine whether SOL breaks out is the performance of its growing swathe of memecoins.
Today, Solana is home to some leading memecoins, led by Dogwifthat, BONK and POPCAT. Book of MEME, another Solana memecoin, has also been a massive performer in the past year. Combined, memecoins account for 40% of the Solana ecosystem’s trading volume, revealed market-making firm Wintermute.
If these memecoins keep up the uptrend, they are likely to keep spurring SOL to new heights, analysts say. However, some of these memecoins, like BONK, have extremely high circulating supply (BONK’s is 92 trillion). This makes it unlikely that they will keep surging; they are more likely to only record modest gains as the high supply works against them.
Additionally, most of the memecoins on Solana have no utility and rely on speculation. Reports show that of the thousands of memecoins that have launched on the network, only 0.76% have generated at least $1,000, showing just how unreliable the returns on these speculative fun coins are.
Investors Target New Utility Memecoin Yeti Ouro
Yeti Ouro (YETIO) has emerged as a viable alternative to Solana and other major altcoins with limited upside. This new memecoin is merging the allure of play-to-earn gaming with the fun of memecoins to offer investors a project that has both the pull for new investors and the staying power for seasoned professionals.
Yeti Ouro is built around Yeti Go, a new innovative and action-packed racing game that pits players against each other in a quest to dominate, eliminate opposition and win the rewards. Yeti Go is built using Unreal Engine from Epic Games to offer a fully immersive experience where a gamer’s quick reflexes and gaming acumen are tested in tandem with their ability to employ strategy and skills. Players need to outwit each other, duck obstacles and hazards along the way and leverage weapons and other gadgets to get an edge over their rivals.
This exciting world depends on YETIO, the native token that they use to pay for fees to join races and earn rewards. They also purchase add-ons and customisations in-game with YETIO; they can later trade these items on the player marketplace to gain some extra tokens.
Yeti Ouro has availed half the maximum supply of a billion tokens to investors in a presale that has already raised $260,000 in the few weeks since it opened to investors. Other innovative measures, such as allocating 5% of the supply to a token burn mechanism, are bound to keep the project deflationary and increase the token’s value in the long term.
Conclusion
Solana has retained its appeal with investors as it’s one of the largest crypto projects in the market. However, it relies heavily on its memecoin ecosystem, and most of these tokens can’t sustain their rally as their supply is massive.
Savvy investors are investing in the next 100X memecoins, and Yeti Ouro is firmly at the top of this list.
Join the Yeti Ouro Community
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