A meme coin on the Solana network called Solama is about llamas. It has gone up by 17% since its last low point. Why did this significant shift take place? The crypto market is getting better in every way. On July 5, the market value of all cryptocurrencies went below $2 trillion for the first time in five months. This is the reason why costs are rising again.
Not long ago, Bitcoin (BTC) went over $64,000. It has been a big part of the market’s comeback, and coins like Solama have done well with this growth. The meme coin wants to return to its all-time high of $0.02522 on July 1. That was the best part. It fell to a three-week low of $0.01388 on July 12. At the low point, this much support was necessary for the price to go back up.
It’s worth $0.01636, 17.8% more than its all-time low on July 12. It’s worth 6.61% more now than it was 24 hours ago. More people are on social media, which is one reason for this rise.
Solama’s Unique Llama-themed Investment Strategy
Solana invests in llamas instead of the typical cat and dog meme coins to make money. The project is meant to encourage people to spend money by letting them burn LP coins and give up contracts. Gems Radar recently placed Solama in the top three tokens based on how much people liked it, which shows its popularity.
Since the last rise, Solana’s market value has gone back above $10 million. When this story was written, it was worth $10.6 million. Things worth $429,970 were bought and sold 24 hours ago, a 50.27% drop. The market may not be as interested in it now that the price has increased.
Even with these positive signs, Solama’s return could be difficult because of technical problems. The On-Balance Volume (OBV) is going down, which means that people want to buy or sell. In other words, people feel more compelled to buy these days.
It tells you when a pattern changes. Since the Aroon Up is 0.00%, there have been no recent high points. How about the Aroon Down? It’s at 64.29%, meaning there are many low points. Solama is going up from these numbers, but the trend needs to be strong first.
As the cryptocurrency market improves, buyers and experts will monitor Solama closely to see if it can continue to rise and fix its technical problems.
