3 Solana Memecoins to Watch ahead of US Elections: WIF, BONK, BOME Price Analysis

Analysis:

SOL price smashed the $180 resistance on Oct 29, in a major rally fueled by a demand surge for Solana memecoins. As the crypto markets enter a correction phase, technical analysis explore 3 meme tokens to watch ahead of the US election.

Solana Price Breaches $180 Resistance as Memecoin Demand Spikes

On Oct 29, Solana price raced up the crypto top gainers charts as bull forced a breakout above $180 for the first time in 90-days dating back to July 2024. talk about how Elon Musk triggered a DOGE rally with multiple bullish comment on Trump’s campaign trail. and how the dogecoin rally spilled over to solana memecoins.

The demand surge for Solana memes inadvertently increased demand for the native sol coin. driving up SOL price 24% between Oct 17 and Oct 29. Before retracing 7.5%.

Solana Price forecast: Next Rally Could Breach $193 Resistance

A close look at technical indicators on the SOLUSD daily chart paints a mildly-bullish outlook for Solana price. The Bollinger Bands, set to a 20-day simple moving average, show that SOL is trading near the upper band, a positive signal of heightened volatility and potential for further upward movement.

When an asset approaches the upper Bollinger Band following a rally, it typically signifies strong momentum. If the buying pressure continues, SOL could push past the resistance at $184.93 and aim to breach the $193 mark in the days ahead.

The second indicator to consider is the Bollinger Band Percent (BBP), which currently sits at 5.62. This positive reading reinforces the bullish sentiment, as it suggests that SOL’s price remains above the mid-point of the Bollinger Bands, indicating that buyers are maintaining control.

For now, the immediate resistance lies at $184.93, with a critical level at $193. On the downside, key support remains at $164.40, and a breakdown below this level could shift sentiment bearish, with SOL potentially revisiting the lower band around $143.86.

3 Solana Memecoins to Watch Ahead of US Elections

Top-ranked Solana memecoins have notably outperformed Bitcoin (BTC) since mid-October, with a sector-wide rally sparked by Elon Musk’s repeated endorsements of Dogecoin during campaign events with Donald Trump

As the U.S. elections approach, Trump has become a favored candidate among crypto enthusiasts, stoking optimism and elevating buying pressure across the Solana memecoin market.

While the sector has entered a brief consolidation over the past two days, bullish traders are eyeing a potential breakout if Trump performs well in the November 5 election.

If this bullish scenario plays out, here are three Solana memecoins to watch closely as the U.S. presidential election draws near.

1. Dogwifhat (WIF) Price Forecast: Hands on Deck for $3 Breakout

Dogwifhat (WIF) has seen significant price activity in recent weeks, testing critical levels as it approaches the $3 mark, a key psychological resistance. The recent surge has brought WIF to a pivotal point, with bullish indicators suggesting further upside potential.

On the WIFUSD daily chart, Bollinger Bands indicate a tightening pattern, reflecting decreased volatility and hinting at a possible breakout.

WIF has been trading near the upper band, a positive signal often associated with bullish momentum. The current price around $2.82 places it close to the resistance level at $3.00, where a breakout could initiate a rapid upward movement.

The Bollinger Band Percent (BBP), a measure of price position within the bands, shows that WIF remains above the midpoint, reinforcing the bullish sentiment as buyers maintain control. Additionally, the Accumulation/Distribution Line (ADL) sits at 1,572.74, suggesting increased buyer interest, which further supports potential upward momentum.

If WIF manages to close above the $3 resistance level with increased volume, it could target the next resistance at $3.25. On the downside, immediate support is at $2.59, with a critical support level at $2.20. A fall below $2.20 could weaken bullish sentiment, but as long as WIF remains above this support, the outlook remains positive.

In summary, Dogwifhat’s chart suggests bullish potential with the $3 breakout in sight. Traders should watch for a close above $3, which may set the stage for continued gains, while keeping an eye on the $2.59 support for signs of consolidation.

2. Book of Meme (BOME) Price Forecast: Bulls Eye $2 Resistance

Book of Meme (BOME) has shown steady price growth, with recent market activity driving the token closer to a significant resistance level at $2.00. Over the past few weeks, BOME has established a series of higher lows, signaling strong buyer interest even as it approaches this critical price point.

The Bollinger Bands on the BOMEUSD daily chart show the token trading near the upper band, indicating increased volatility and an inclination towards further upside. The narrowing of the bands suggests a potential breakout scenario if buying pressure intensifies. BOME’s position near the upper Bollinger Band typically points to strong bullish momentum.

In terms of key levels, the next major resistance lies at $2.00. A close above this level, confirmed by higher trading volume, could set the stage for a rally toward the $2.30 resistance zone. Supporting the bullish outlook, the Smoothed Moving Average (SMA) Indicator Momentum Index (SMII) has been trending positively, providing additional confirmation of bullish momentum as the token consolidates near resistance.

On the downside, immediate support sits at $1.75, with a stronger support level at $1.50. As long as BOME stays above the $1.75 support, the bullish structure remains intact. However, a fall below $1.50 could signal the need for further consolidation before another potential upward push.

In conclusion, BOME’s technical indicators reflect a bullish outlook, with the $2.00 resistance as the next hurdle. Traders should watch for a breakout above $2.00, which could open the door to a larger rally, while monitoring $1.75 as key support for any potential pullbacks.

BONK Price Forecast: $0.00000245 Resistance in Focus

BONK has demonstrated positive momentum in recent trading sessions, moving toward a significant resistance level at $0.00000245. The token’s price action over the past two weeks shows strong accumulation, as evidenced by its steady climb following a period of consolidation.

The BONKUSD daily chart highlights that BONK is trading within the upper range of the Donchian Channels, which are set to a 20-day period. This position signals bullish sentiment, as prices trading near the upper band often indicate buying pressure. Additionally, the Stochastic Momentum Index (SMI) shows positive divergence, suggesting that buyers are regaining control.

If BONK can break above the immediate resistance level at $0.00000245, it could aim for the next resistance at $0.00000265, marking a potential continuation of the bullish trend. For confirmation of a breakout, traders should look for a close above $0.00000245 with strong volume.

On the downside, support lies at $0.00000215, with a more critical support level at $0.00000196. As long as BONK stays above $0.00000215, the bullish bias remains intact.

However, a decline below $0.00000196 could indicate that further consolidation is necessary before another attempt at the resistance levels.

In summary, BONK’s technical indicators are leaning bullish, with $0.00000245 as the key resistance to watch. A successful breakout above this level may lead to further gains, while $0.00000215 serves as the main support in case of pullbacks.

Recap:

Solana price broke through the $180 resistance on October 29, fueled by increased demand for Solana-based memecoins. This surge followed bullish comments by Elon Musk on the Trump campaign trail, which initially triggered a Dogecoin rally that spilled over to Solana and its ecosystem of meme tokens.

 

With the U.S. elections on the horizon, memecoin enthusiasts are closely watching three Solana tokens: Dogwifhat (WIF), Book of Meme (BOME), and BONK. All three have shown promising bullish momentum, with WIF eyeing a potential breakout above $3, BOME targeting the $2 resistance, and BONK approaching a significant $0.00000245 resistance level.

Should these tokens break above their respective resistance levels, they could see further upward movement as buying pressure builds ahead of the election.

While short-term corrections are possible, the overall technical outlook remains optimistic for these Solana memecoins, especially if the election-related enthusiasm continues to fuel demand