The cryptocurrency whose value increased by more than 8000% in a few hours after its launch has been named

Editor’s note: not financial advice!

The low-cap meme coins developed on the Solana blockchain continue to grow explosively. The price of the new SOLCAT token rose by 8759% in a few hours after the launch, indicating a likely further increase in the asset’s popularity.

SOLCAT is the third coin issued as part of the growing Solamb ecosystem, which has seen several Solana-based animal-themed coins released in recent weeks. With price action continuing to test local resistance, SOLCAT is trading at a market price of $ 200.

The growth of the digital asset came immediately after the launch of SOLCAT on March 20 as part of the DEX launch, which was almost immediately profitable. An initial move of 231% in the opening hour caught the attention of DEX traders in the following hours, and the price action rose another 175% after SOLCAT established a lower support zone between $ 142 and $ 187.

SOLCAT hit an all-time high of $ 425 on the back of an inflow of over $ 1.12 million in trading volume. However, when the first participants made more than 10,000% profit, a local sell-off triggered corrective movements, as a result of which SOLCAT fell by 67%.

Analysts believe that SOLCAT can realize a 10x growth, like other small-cap coins related to Solana. However, SOLCAT is currently struggling with a price correction.

No Worries strongly advises readers not to invest in dubious crypto projects and little-known digital assets!

Over the past three days, several memtoken projects have raised more than $ 100 million on the Solana blockchain via a presale. This model involves fundraising before the issuance of assets, with the most notable projects in the ecosystem being Book of Meme (BOME), Nap (NAP), and Nostalgia (NOS).