Most celeb tokens are down 66%+ since Jenner’s bizarre crypto debut
- Celebrity-Backed Tokens Performance:
- Most celebrity-backed tokens like JENNER, DAVIDO, and RICH have dropped by at least 66% since their peak.
- Only the "MOTHER" token by Iggy Azalea has not followed this trend, reaching a $134 million market cap.
- Specific Token Performances:
- JENNER by Caitlyn Jenner hit a $30 million market cap but has fallen by 79%.
- DAVIDO by Nigerian singer Davido fell over 66% after peaking at $0.0033.
- RICH by Rich the Kid has decreased to a $678,000 market cap.
- Vitalik Buterin's Critique:
- Buterin criticized celebrity memecoins, suggesting profits should be used for social causes.
- He argued that financialization should serve purposes like healthcare, open-source software, and art.
- Uniswap Inventor's View:
- Hayden Adams of Uniswap had no issue with celebrity memecoins but recommended better profit utilization.
- General Warning on Solana Memecoins:
- An article highlights five dangers to consider when investing in Solana memecoins.
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Technical Analysis for SOL
Technical Sentiment Analysis for Solana (SOL) As of , Solana (SOL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Solana (SOL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 30.79 | 49.145 | 69.98 | 88.335 | 109.17 | 127.525 | 148.36 |
| Fibonacci | 49.145 | 64.116 | 73.364 | 88.335 | 103.306 | 112.554 | 127.525 |
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