Market overview: Solana ($SOL) and SHIB price with MAGA VP’s ($MVP) outstanding 1100x ROI forecast

Bitcoin Halving has brought a lot of interest to the crypto sphere, with everyone majorly expecting a bull run soon. Solana and MAGA VP are among the top candidates purely because they have demonstrated the potential to fetch high yields. For instance, Solana is backed by robust technology and an ever-growing ecosystem. These factors are heavily contributing to its future stability and strengthen the market position.

MAGA VP has been gaining traction since the launch time. It is expected that the resistance will be tested at $0.17 before climbing as high as $0.7. While a tentative timeline is hard to draw, MVP is expected to surge as early as the middle of this year. It could even inch a lot closer to the 4 dollar milestone by the VP selection. 

MVP is currently exchanging hands at $0.13 with a price forecast of $0.44 for the next month. That reflects a growth of approximately 238.65%. This comes with a volatility of around 39.50% and a 14-day RSI of 69.86. Most of the sentiment around the meme coin is neutral. Traders could soon incline toward buying the dip as the token has dropped 5.21% in the last 24 hours.

Solana is ideally looking to complement MAGA VP. SOL is backed by technical indicators from the community. For instance, RSI is reflecting a neutral stand with 40.70 points on the Relative Strength Index graph. The Average Directional Index on the 4-hour chart is pointing out a strength of 29.52 – moderate in value.

SOL is exchanging hands at $135.80 at the time of writing this article. That is a dip of 4.81% in the last 24 hours and 12.06% in the last 7 days.

There is an ongoing discussion about SOL being in a bearish phase or a recovery phase. The majority of the community believes that Solana could be in a recovery phase, considering that experts anticipated a correction ahead of Bitcoin Halving. The market could continue to take that momentum forward to May 2024 before actually hitting the bull run.

What affects SOL the most is how whales carry out their transactions. It was last affected by the movement of 179,999 SOL tokens worth almost $26.14 million. That moved the price to less than the $140 support level. In other words, the constant movement of SOL tokens by whales could continue to affect the way the token is traded in the market.

ROI on SOL and MAGA VP is still strong, for MVP is a new token poised to re-claim the rise, and SOL is already backed by the community and poised to make a move above $180 by the end of the year.

SHIB, for one, is aiming to dethrone DOGE in terms of Market Cap. The margin has only widened, but the community is optimistic about making up for that gap. It is recommended to conduct research before allocating funds to any crypto. SHIB is listed at $0.00002348 with a Market Cap of more than $13 billion.

The probability that SHIB will meet the mark of $0.01 is gaining traction, especially since several crypto enthusiasts have expressed their desire to hold onto Shiba Inu for a little longer.

You can buy $MVP on BitMart, or Uniswap

Disclaimer: This article is sponsored content and is not financial advice. CryptoNewsZ does not endorse or guarantee the accuracy of the content. Readers should verify information independently and exercise caution when dealing with any mentioned company. Investing in cryptocurrencies is risky, and seeking advice from a qualified professional is recommended.

Mark Peterson

Mark Peterson has been following the crypto market for the past seven years. As a crypto news journalist, he has recently joined our team. He regularly delivers the most recent happenings of the crypto space. He enjoys writing poems and exploring various crypto trading platforms in his spare time.

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