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

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Joel Frank

Author

Joel Frank

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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…

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Last updated:

October 4, 2024 13:19 EDT

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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.

New Airdrop Casino Meme Bets Gains Traction – Key Details You Need to Know

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 could grow into a major player in the GambleFi space, possibly rivaling well-established platforms like Stake.com.

Cryptonews.com’s in-house crypto analyst, Crypto Chester, explains the potential of Meme Bets in a recent video, highlighting its chances to reach a valuation in the hundreds of millions, which could translate into tens of millions in airdrop rewards.

With such potential upside, investors looking to benefit from this new airdrop casino should act quickly.

The presale price of MEMEBET is set to increase in just over two days, making now a key time to get involved.

Meme Bets has piqued the interest of both airdrop hunters and GambleFi enthusiasts, offering a unique value proposition through its combination of meme coin culture and online gambling.

Its presale success indicates a strong demand for projects blending these two popular areas of the crypto market.

For those interested, more details about Meme Bets can be found on their official website.

Visit Meme Bet Now

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.