Bitcoin’s post-Halving slump has left Solana meme coin traders in the blues, and in a reflection of sentiment, a new depressed rodent token named Sad Hamster has seen HAMMY price explode overnight.
This article will provide an analysis of HAMMY’s current price trends and look to see whether an alternative play, DOGEVERSE, represents a more compelling investment opportunity at this time.
Sad Hamster is a viral meme that has gained impressive traction in the Solana meme coin market.
I tried to tell you at 400K
I’m telling you again here at 10m $Hammy is the single most viral meme in 2024
All you need to realise this is ask any normie if they recognise the hamster, do it right now. pic.twitter.com/72Zcy4kRtr
— trap (@itrapwell) May 2, 2024
Retail investors have classified HAMMY as a ‘Cat Token’, and curiously some keen analysts note the added meme value potential in the emerging skyrocket – which teases the idea of the first $1Bn market cap cat-coin being… well, a hamster.
HAMMY Price Analysis: Can Sad Hamster Token Become First $1Bn Rodent Coin on Solana Meme Coin Market?
As price action sustains a technical rally structure, Sad Hamster is currently trading at a market price of $0.02 (representing a 24-hour change of +475%).
Sad Hamster token exploded out of capitulative rock-bottom trading at 11 AM UTC on May 2, in a steady-gaining rally that has posted an alluring rally structure.
So far, HAMMY Price has climbed +1,432%, establishing a new all-time high at $0.03.
Now in minor localized retracement, Sad Hamster is attempting to build support for further upside moves above lower support at $0.015.
With HAMMY price in a strong upwards trading channel, it seems that this rally could risk stalling here, especially with a glance at the order book – which reveals declining momentum amid 36% buy pressure in transactions over the last 6 hours.
This is reflected in fleeting bullish sentiment on the MACD – although it’s noteworthy that this key momentum indicator continues to read at a minor bullish signal (0.00058).
Indeed, further retracement could be likely here – with HAMMY’s price needing to touch down to $0.015 to cool off an over-heated RSI (reading bearish overbought divergence at 60.
However, if this move is undertaken with a successful defense from HAMMY’s growing army of 2,940 holders, then it seems possible that upside will resume.
After all, with HAMMY now standing at a whopping $20M market cap (mcap), Sad Hamster now faces a make-or-break moment in the Solana meme coin market – which will either see it ascend to $100M+ mcap status or decline down to a $1m mcap once more.
For retail investors put off by this all-or-nothing risk, many are shifting their attention to a more compelling opportunity in the viral DOGEVERSE presale.
Meet Dogeverse: The Unification of DOGE Cross-Chain – Potential 100x Play?
Dogeverse (DOGEVERSE), is a new multi-chain dog-themed meme coin project with an active presale that has currently raised over $12m.
The meme coin is deploying its highly anticipated presale across multiple chains, including Ethereum, Avalanche, Base, and Solana.
The project’s developer said this approach democratizes access, and anyone can acquire the coin, turbocharging growth – becoming a force across the crypto market
Looking at events in the market, the in-demand Dogeverse presale will likely reap massive benefits as more users flock, searching for potent meme coins.
Supporters claim Dogeverse could be the next BONK and BOME, securing a $1 billion market cap in the coming weeks.
Follow Dogeverse on X to get the latest news and connect with the presale community on Telegram.
Buy Dogeverse Here
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Read the full article here
