Stack Price Prediction: STX Soars 25%, But Experts Eye This New Solana Meme Coin Against BONK, WIF, and MYRO

adminFebruary 27, 2024

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Stacks price is up 25% in the last 24 hours. Traded at $3.1180 As of 5:10 a.m. EST, trading volume had increased 475% to $612 million.

This comes as interest in layer 2 Bitcoin grows relative to interest in Bitcoin ordinal. Stacks acts as a layer 2 network for Bitcoin and offers features such as custom cryptocurrency issuance, liquid staking protocols, and decentralized exchanges.

Stacks (STX) price outperforms the market as interest in layer 2 Bitcoin grows.
STX, the native token of the Bitcoin-focused Stacks Layer 1 smart contract platform, has emerged as the best performer in the cryptocurrency market, with an incredible 400% rally since October 2023. This surge…
— Eliza Matthews (@ElizaMatth8803) February 26, 2024

thus, The upcoming Nakamoto release upgrade, which is expected to occur before the Bitcoin halving in April, is already sparking increased user interest. User attention can have a positive impact on STX price.

Stack price is strong, trading above the upper limit of the ascending triangle.

Stack Price Chart Analysis Source: Tradingview.com — STXUSD Chart Analysis Source: Tradingview.com

Since the beginning of the year, Stacks price has been in a consolidation phase within the $1.5 range. However, the bulls have shown resilience, with the price rising gradually since early February before reaching the $2.8 resistance level.

Stax price is currently trading above the 50-day and 200-day simple moving average (SMA), confirming the bullish sentiment. The 50-day SMA is trading above the 200-day SMA, forming a golden cross at $1.57, indicating continued bullish momentum.

The relative strength index (RSI) is trading at 77, which is in the overbought zone of 70, indicating strong buying pressure.

STX MACD

Additionally, the Moving Average Convergence Divergence (MACD) confirms the bullish outlook for STX price as the moving average line (blue) crosses the signal line (orange). This indicates a bullish crossover, encouraging investors to buy more and further supporting the sentiment of an upcoming bullish rally.

The green bars in the histogram extend above the zero line, indicating general positive momentum. Additionally, the Stochastic Oscillator 14 3 3 line (green) is crossing above the trigger line (orange), confirming a bullish moving average crossover and indicating an incoming bullish trend.

Stack Price Prediction

Stacks price analysis indicates a bullish outlook for BTC price. This is evident when we see the price breaking out of the upper boundary of the ascending triangle. Bulls are aiming to push the price up 21.63% to $3.78.

In the opposite scenario, bears could take control of the price, which could pave the way for a slight retracement to the next support level at $2.5, within the lower boundary of the ascending triangle pattern.

Meanwhile, investors hoping to get a 25x return on their investment are rushing to buy Frogwifhat, a new meme coin that takes on Bonk, WIF and Myro.

Frogwifhat Meme Coin surges 226% on Uniswap after launch, 25x growth potential

duckweed It emerged as a popular meme coin in the cryptocurrency world, captivating users with its unique combination of a frog and a hat popular on the internet.

Embodying the pinnacle of French high fashion, Frogwifhat proudly presents a haute couture sensibility, always accompanied by baguettes, to highlight its deep-rooted French heritage.

The epitome of French meme culture, Le Frog Wif Hat… 🥖
1️⃣ Light first very long cigarette of the day
2️⃣ Wear a beret
3️⃣ Swearing at some Americans
It’s as easy as pie 🐸🎩#frogwifehat #cool #Cryptocurrency #how #memecoin #pepe #viceroy #web3 pic.twitter.com/D1qCUwEXz3
— Frogwifhat (@Frogwifhat_coin) February 27, 2024

Did the developers of Dogwifhat and Bonk also create Frogwifhat?

Frogwifhat (FWIF) website It clearly indicates that FWIF aims to replicate the performance of other meme coins such as Dogwifhat, Bonk, and Smog. additionally, There is speculation that the individual who founded FWIF may also be responsible for the success of the aforementioned meme coins.

duckweedtoday Trends It ranked 3rd in Dexscreener and showed significant growth. It surged 226% on Uniswap immediately after launch.

Currently based on the Ethereum blockchain, the project aims to expand to the Solana network to expand its horizons. To facilitate this transition to a multichain framework, we are leveraging Portalbridge.com.

The move coincides with Solana’s surge in meme coin launches, including Smog, MYRO, BONK, and Dogwifhat. This coin has significantly boosted activity and attracted traders looking for significant profits.

YouTuber and cryptocurrency analyst Zach Humphries predicts that Frogwifhat will mirror Smog’s impressive growth. He confidently expects FWIF to increase by another 25 times.