The Solana meme coin sector has witnessed a major move as WAGMI token, a coin named after the rallying call of crypto hodlers ‘we’re going to make it!’, experienced a 15,000% increase in value.
This article will provide an analysis of WAGMI’s current price trends and look to see whether a newer meme coin, Smog, represents a more promising investment opportunity at this time.
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 Croco, SpaceX, TurboMoon and Doge On Solana.
WAGMI token emerged as one of the biggest breakouts on Solana meme coin markets over the Superbowl weekend, with traders flocking to join the skyrocket up to $7.5m market cap.
Now, with the WAGMI development team promising the launch of their first marketing campaign over the next 24-hours, market sentiment remains astutely bullish – in defiance of retracement moves.
As price action coils-up into primed posturing, WAGMI token is currently trading at a market price of $0.0002550 (representing a 24-hour change of +40,770%).
The poised position comes after a major success on launch saw WAGMI token explode a jaw-dropping +15,000%, in a 7-hour skyrocket move that saw WAGMI establish an all-time high at $0.001380.
Yet, as early-backers took profit on the quickfire pump, retracement has since gripped price action, with WAGMI undertaking a -90% price correction down to current levels.
Despite an impressive $8m in trading volume over the past 24-hours, an attempt at a second rally leg saw an upside swing meet with rejection around 1AM (UTC) on February 12.
This has left WAGMI price consolidating back in an emerging supply zone between $0.000148 and $0.00043 –Read more on cryptonews.com