The cryptocurrency market often adopts a bullish outlook during Q4, providing potential buyers with promising investment opportunities. As we enter October, here are three Solana-based coins that could offer massive returns, with the potential to turn a $100 investment into $10,000.
Top 3 Solana Coins to Multiply Your $100 Investment in October
According to Cryptorank data, the SOL price often performed well in October, projecting a four-year average growth rate of 18.7%. This bullish narrative could boost the Solana-based coins to drive a sustained recovery.
Dogwifhat (WIF)
Dogwifhat (WIF), the Solana-based meme coin, is known for its playful branding, which features a Shiba Inu wearing a beanie. Defying the low volatility trading on Tuesday, the WIF price surged over 15% to hit the $2 psychological level and provide a decisive breakout from a falling wedge pattern.
This breakout signals end of correction trend and bolsters buyers for potential rally to $4, followed by a $4.8 high. According to Coinglass, the WIF funding rate surged to 0.0073%, indicating that buyers are ready to buy at a premium price to hold the asset in a long-term position, indicating strong confidence for future rallies.
Helium (HNT)
Helium (HNT) is a decentralized network designed for the Internet of Things (IoT) devices, allowing low-power wireless devices to communicate with each other over long distances.
Contrary to other Solana coins, the HNT price has showcased a steady recovery since early July 2024, uplifting its value from $2.93 to $7.36— a 150% growth. An analysis of the weekly chart shows this upswing assisting in forming a well-known reversal pattern called cup and handle.
If the pattern holds, the Helium price could rally 42% before offering the crucial resistance at $10.48.
Jupiter (JUP)
Jupiter (JUP) is a decentralized exchange aggregator built on the Solana blockchain, designed to provide the best token swap rates across various liquidity sources. In the last three weeks, the JUP price displayed a V-shaped recovery from $0.658 to $0.859, registering a 30%.
Similarly, JupitJupiter’sl volume locked (TVL) surged from $962.4 Million to $1.18 Billion, accounting for a 22.6% jump. This increase indicates more capital is invented in JUP’sJUP’sprotocol and signals growing user confidence.
With sustained buying, the Juiper coin price is 6% away from a major breakout from the falling wedge pattern.
Also, check out the other top Decentralized Exchanges for leverage Trading.
Frequently Asked Questions (FAQs)
Investing in fast-growing Solana-based coins like Dogwifhat (WIF), Helium (HNT), and Jupiter (JUP) offers high potential returns
Jupiter (JUP) experienced a 30% V-shaped recovery in the past three weeks, with its Total Value Locked (TVL) rising by 22.6%
Historically, Solana has performed well in Q4, with Cryptorank data showing an average growth rate of 18.7% in October
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/3-solana-based-coins-to-buy-100-to-10000-in-october/
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