DOGE’ on Solana Blasts Up 200,000% in 24 Hours and Experts Say This

Sam Cooling

Last updated:
February 6, 2024 at 12:03 GMT+2
| 3 min read








































In the latest Solana meme coin pump, a Dogecoin spin-off token called ‘DOGE on Solana’, has exploded +200,000% in less than 24 hours.

This DOGE price analysis reveals whether the skyrocketing rally will continue.

Indeed, this price pump comes as recent months have seen a huge trend in explosive moves, with countless Solana meme coins garnering significant attention, including SpaceX Token, SOLAREUM, Joe on SOL, BINK, BONG, MUSK, FLUB, PUMA, HOPPY and SPX.

The DOGE spin-off token is flying high due to Solana’s cheap transactional costs, which have already enabled DOGE on Solana to smash $12.7m in trading volume amidst inflows of 3.13k holders.

DOGE Price Analysis: As Doge Coin on Solana Blasts Up +200,000% – Could Solana Memecoin Post Second Rally?.


With price action hanging low in the channel, DOGE is currently trading on a market price of $0.00007173 (representing a 24-hour change of 61,493%).

This comes after DOGE price accelerated almost immediately on launch, with a 6-hour wave of upside green movement, that ultimately saw DOGE explode +9,713% to hit an all-time high at $0.0004282 around 20:00 UTC on February 5.

In the hours since, this has led to a strong localized retracement move, which has so far seen DOGE price bleed out -81% from the recent high.



But despite downside price action, lower support has emerged in a well-defended consolidation move around $0.000055 and $0.0001.

If DOGE bulls are able to successfully defend this lower price level, a second rally could be on the cards.

Indeed, with a current market cap of $775k it’s feasible for DOGE to make a 3-5x move from here if traction grows once again.

Yet, this is caught in an ongoing battle against growing sell pressure – which currently represents 46% of transactions over the past hour.

Some concern emerges from DOGE’s liquidity pool, which remains somewhat small despite the major overnight growth, and more critically, remains unlocked – posing a risk to long-term holding.

For this reason, investor attention is increasingly shifting to an alternative play – Sponge V2 – which has all the trappings of the next viral breakout.

Sponge V2 Launch ($SPONGEV2): Last Chance to Buy – Poised To Outperform DOGE Token and Other Solana Memecoin?.




Sponge V2, the latest iteration of the renowned Sponge ($SPONGE) meme coin, is making waves in the cryptocurrency market.

Following the phenomenal success of Sponge V1, which peaked...

https://cryptonews.com/news/doge-on-s...

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***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT!
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