Traders Warn Of Deep Solana Correction as Investors Seek New Alternatives Set For Explosive 100x Growth
Solana (SOL) is having quite a good day as, at the time of writing, it is up over 7% on the day. However, those in the know are suggesting that a deep correction is coming, and it could be a good time to get out and buy back at a lower price. As much as a 30% price loss has been forecasted by some experts before, it will be worth buying SOL again.
While it may not be the best time to invest in Solana, the same can not be said for some other exciting projects. We have delved into the presale market and found some very exciting coins that look set for explosive growth in 2024. They are as follows:
Bitcoin Minetrix (BTCMTX)
Sponge V2 ($SPONGEV2)
Meme Kombat ($MK)
eTukTuk (TUK)
Let’s analyze each project and see why they can outperform Solana in 2024.
Bitcoin Minetrix- We are getting close to the launch of this exciting mining crypto
Bitcoin Minetrix (BTCMTX) is one of the most anticipated crypto launches of 2024, and the presale reflects that. It has now raised over $9 million, and with the next price increase coming in less than 24 hours, investors are scrambling to purchase as much BTCMTX as they can.
Bitcoin Minetrix could be the key to Bitcoin's success in 2024. We all know that the market's number one token comes under a lot of pressure from environmental groups because of how much energy the mining process takes, but it also has its problems within the crypto community.
Bitcoin has, ironically, become a victim of its own success. Its price exploding in the last decade has meant that mining almost exclusively takes place at an industrial level scale. This means 99% of us who may wish to mine can’t afford to. Bitcoin Minetrix solves this and provides a cheaper and greener way to mine Bitcoin.
The whole process can be summarized as stake-to-mine. Investors can stake their tokens and earn a decent APY%, or they can exchange them for mining credits. These credits act as a ticket for investors into the mining world. Even for those who don’t wish to mine, you can see how profitable investing in this project could be.
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Sponge V2- Version 2 of a meme coin hoping to recreate the success of the original
The next project on our list has thought of an innovative way to capitalize on the success of the original coin from their ecosystem. Sponge V2 ($SPONGEV2) will be the second version of Sponge Token ($SPONGE), a meme coin based on one of the most memed shows on the internet, Spongebob Squarepants.
The original was one of the more successful meme coins of 2023. Not just for how much it pumped but more so for the conditions it contradicted. Besides being launched in a bearish market, on a solitary exchange, with no publicity, it still pumped by 340%.
It also grew a substantial social media following, which includes nearly 30k followers on X, and got added to 9 other exchanges. The project made a very clever move in November when they added staking to the ecosystem, which caused $SPONGE to pump by another 500%. That staking will help version 2 succeed too.
The reason for this is? We get from version 1 to Sponge V2 through a stake-to-bridge system. How that works is investors that wish to be part of version 2 must first purchase $SPONGE. When they do this and stake their tokens, they also lock in an equivalent amount of $SPONGEV2. Once version 1 is sold out, version 2 launches and their tokens are claimable, along with rewards they will receive over the course of 4 years.
Meme Kombat- The P2E game that lets you win big by wagering
We are very excited about the launch of Meme Kombat ($MK), which is an exciting combination of a meme coin and a P2E game. The presale has now raised over $7.3 million and is now less than a million off its final goal. Clearly, we are not the only ones excited about this coin.
As our readers who are gaming fans may have already guessed, Meme Kombat takes inspiration from the cult classic fighting game, Mortal Kombat. However, in this blockchain game, you will be fighting with AI-controlled characters that will be the biggest memes of the last 10 years.
The feature we are most excited about from the game is the wagering part. Players will feel like they are using a sportsbook as they will be able to bet on all sorts of outcomes. Bet against the computer, fellow players, or even side bet. This is for players that want to wager on something different like what the first move will be.
Players can earn $MK if they win some of their wagers, which could turn out to be very lucrative. This is because of the dynamic staking system Meme Kombat employs. The more investors stake, the more rewards they will receive, if players win big wagering, they can stake their tokens and really clean up. A clear candidate for a coin set for explosive growth.
eTukTuk- This token could do huge things for sustainable travel in developing nations
We all know that crypto projects come under a lot of fire for some of their environmental practices, that is why we need to support those projects that are doing their bit to save the environment. One of those projects is eTukTuk (TUK).
There are over 270 million tuk-tuk vehicles in the world, and the vast majority of these are found in developing countries. However, what is shocking about these vehicles is that, although small, they actually release more harmful emissions than standard cars. eTukTuk, hopes to clear up CO2 emissions by 30% by 2030.
How The ecosystem is sustained is drivers will pay TUK to top up their vehicles. However, drivers are expected to witness up to a 400% reduction in operating costs compared to using TukTuks powered by fossil fuels, so there will be no issue with them wanting to make the change.
In terms of utility, there will be an excellent P2E game where players will be able to zoom around Shr Lanka and see what it would feel like to drive an eTukTuk. There will also be staking rewards, which will be released gradually along with the total supply of 2 billion TUK tokens. This project could be a real game changer.
Conclusion
So, while Solana may be experiencing some growth at the moment, experts are predicting it to come back down to earth and are advising investors not to buy until it reaches $0.70. On the other hand, the four presale coins we have listed are great new alternatives set for explosive growth. They all have a much better scope for growth than SOL, too, thanks to their low prices and low market cap.
