Solana Memecoins Identified as Massive Scam: Experts Highlight 5 Trustworthy Projects for the Next Bull Run

The crypto landscape recently experienced a shocking revelation as several Solana-based meme tokens were exposed as fraudulent. They raised funds through controversial presales, but many of them have since plummeted in value, with one project seemingly failing to launch a token at all. These incidents serve as a stark warning for investors to be cautious and thoroughly evaluate projects before investing. To help you navigate this risky terrain, this article presents five reputable projects poised to excel in the upcoming market surge, offering both potential and credibility. Explore these recommendations to make informed decisions in your crypto journey.

BlastUP Goes Viral, Raising $4.7 Million in a Few Weeks

BlastUP, the premier launchpad on Blast, has recently made waves in the crypto world with its stunning debut, raising $4.7 million in just a few weeks. Many savvy investors are rushing to buy BlastUP tokens before their value skyrockets.

Holders of BlastUP tokens enjoy a number of privileges, including participation in airdrops, exclusive loyalty rewards for participating in IDOs, and the ability to earn interest through staking.

BlastUP stands out from the crowd in the crypto world. Backed by Blast, the sixth largest blockchain by TVL, it offers genuine utility as a launchpad for DApp ventures. With its motto "Grow faster, earn more," BlastUP is dedicated to propelling the success of blockchain startups. Those who join BlastUP now become part of a project poised to become the next big thing in this bull run.

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Jupiter Crypto: A Striking Surge and Future Expectations

Jupiter (JUP) has shown substantial growth over the last six months, with a staggering 3871.67% increase. Over the past week, the token gained 18.86%, while it saw a modest 2.13% uptick in the last month. This trend suggests an impulsive breakout, surpassing the moving average, with current support at $0.77 and resistance at $1.41.

Looking ahead, JUP has strong momentum, and if it continues, the next target could be $1.73; however, a more drastic decline could retest support at $0.45. With JUP's Relative Strength Index (RSI) near a neutral level and its stochastic reading high, a pullback might occur before any further upward movement. Optimism is justified, but caution is advised as the market assesses its next moves.

Pepe Crypto Price Phase: A Reflective Look

Pepe (PEPE) coin shows a strong recent climb. In one week, it jumped 51.94%, while over the last month, it edged up 5.42%. Looking back six months, PEPE surged an impressive 543.62%. Currently, it's trading between $0.000005 and $0.000007. The price movement suggests an impulsive phase, based on the RSI at 74.20, indicating high buying activity.

It seems that PEPE might continue its upward trend considering the strong buying signals from the RSI and the positive MACD level at 0.00000031. However, staying wary of possible downturns is important, as the Stochastic value at 88.69 points towards potential overbuying, which could lead to a price pullback. If the coin keeps up the momentum, it may challenge the second resistance level at $0.000009. Conversely, if it falls, the nearest support at $0.000004 might come into play.

Toncoin's Price Dynamics and Current Behavior

The price of Toncoin has seen a mixed performance recently. Within a week, it dropped by 13.35%, but looking at the past month, there has been a gain of 18.05%. Over six months, Toncoin's value increased by 165.75%. Currently, the price is moving between $5.51 and $7.03 and appears to be in a corrective phase, as indicated by its position below the 10-day Simple Moving Average at $5.68.

Thinking about Toncoin's future, the short-term outlook shows that the coin could test the nearest resistance at $7.94 if it gains momentum. A break above this level could potentially lead to a move towards the second resistance level at $9.46. On the downside, if the price falls, it might find support at $4.89, or even at the second key support level of $3.38 in a bearish scenario. The mixed technical indicators suggest caution, with the RSI below the midpoint and the Stochastic indicating overbought conditions. This hints at possible near-term volatility with chances for both upward and downward price movements.

Bonk Crypto Price Overview: Volatile Surge Captivating Traders

In recent trading, Bonk (BONK) has displayed a swift uptick in price, presently fluctuating between $0.0000153 and $0.0000242. This past week witnessed a 53.84% increase, while the month showed a more modest 2.47% climb. Over the past six months, BONK has surged by a striking 5197.58%. The movement we've seen is largely impulsive, powered by substantial buying interest that has pushed the price upward.

Looking ahead for Bonk, both bullish and bearish signals are present. On the optimistic side, the current price is above both the 10-day and 100-day Simple Moving Averages, indicating a healthy uptrend. However, caution is warranted as the Relative Strength Index is nearing overbought territory at 67.63, suggesting a potential pullback. BONK could test the nearest resistance at $0.0000277, but should the momentum falter, support at $0.0000098 might come into play. The balance of market sentiment and technical indicators will shape BONK's near-term price trajectory.

Conclusion

Analysts have identified five reliable coins with varying potential in the current bull market. Projects such as JUP, PEPE, TON, and BONK are on the list, but they might not surge quickly in value soon. BlastUP stands out as the one with the highest chance of success. It benefits from a strong concept and its connection to the Blast ecosystem, positioning it well for growth.

Site: https://blastup.io/
Twitter: https://twitter.com/Blastup_io
Discord: https://discord.gg/5Kc3nDhqVW
Telegram: https://t.me/blastup_io
Source: https://thebittimes.com/solana-memecoins-identified-as-massive-scam-experts-highlight-5-trustworthy-projects-for-the-next-bull-run-tbt86358.html