Solana Meme Coins Rising But Is This Deployer Dumping On Degens?
Crypto prices are rising, with Bitcoin surpassing $66,000 and Solana (SOL) trading above $150, marking a 7% increase over the past week. Solana's ecosystem is benefiting, particularly meme coins like Popcat and DogWifHat, which have market caps exceeding $1 billion. The deployer of the PELF meme coin is offloading tokens, having sold 3.2 million PELF for 662 SOL, raising concerns about potential bearish impacts on prices. Despite this, PELF is up nearly 300% from September lows but remains below March 2024 highs. A confirmation of gains on October 14 could lead to a breakout above $0.0008101. The total market cap of Solana meme coins exceeds $10.9 billion, with DogWifHat, Bonk, and Popcat entering the top 10, while Dogecoin remains the most valuable.
