Solana Charts Turn Bearish – Investors Are Flocking to This New Airdrop Casino

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Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Solana (SOL) saw a potential bearish shift this week, with prices dipping below the 50-day moving average (DMA) as geopolitical tensions between Israel and Iran intensify.

Instead, many investors are now shifting their focus to a new airdrop casino project, Meme Bets (MEMEBET).

Earlier in the week, SOL dropped to the $133 range, partly driven by the growing concerns over a potential Israel/Iran conflict.

Although the price rebounded above $140 following strong U.S. jobs data, which eased some recession fears, SOL has not yet reclaimed its 50DMA.

This indicates a possible bearish trend in the near term.

Current market sentiment suggests that SOL is more likely to retest its September lows near the $120 range, or even its August lows below $110, rather than make a breakout above the $160 resistance level.

While Solana faces uncertainty in the short term, investors are exploring alternative opportunities like Meme Bets, a new airdrop casino that has captured considerable attention.

Meme Bets is planning to launch a web and Telegram-based crypto casino, positioning itself as the first GambleFi protocol to allow wagering with meme coins.

The project has raised $350,000 during its presale, attracting interest from the meme coin trading community.

Meme Bets stands out due to its innovative approach, reserving 20% of its token supply for casino rewards.

These rewards will be distributed to MEMEBET token holders based on their casino usage, potentially offering significant payouts for active participants.

Analysts believe that Meme Bets