The 2022 bear market was a brutal time for the cryptocurrency market, with most assets plummeting over 50%. Solana was among the hardest-hit, suffering a 94% drop by the end of the year. While many traders were caught off guard and saw their previous gains evaporate, those who exited early managed to avoid substantial losses.
One such trader, known for predicting the market decline at the beginning of 2022 and exiting their positions in time, is now making headlines with a bold new prediction. This expert trader has recently resurfaced with bullish news, forecasting that the trending meme coin MoonTaurus (MNTR) will lead the anticipated market rally in Q4 2024. This prediction follows MoonTaurus’ recent 100% price gain, drawing significant attention and optimism from investors. Let us take an in-depth look at why this trader’s prediction might hold weight and what the future could look like for MoonTaurus and the broader crypto market.
The Fall of Solana
Solana experienced its worst performance in 2022, with the cryptocurrency’s price plummeting by 94.15% from $170.06 to $9.95. This dramatic decline saw Solana’s market capitalization fall from over $55 billion to just $3 billion by November 2022.
While the broader bear market played a role in this downturn, Solana’s association with FTX and its founder, Sam Bankman-Fried, significantly exacerbated the situation. The close ties between Solana and Bankman-Fried, who faced multiple criminal fraud charges following the collapse of his exchange, severely tarnished Solana’s reputation. Many projects built on the Solana blockchain, often referred to as “Samcoins,” saw their values crash, with some, like Serum, becoming defunct as FTX’s implosion shook the ecosystem. Additionally, evidence suggests that Bankman-Fried may have manipulated the prices of Solana-based tokens he controlled or had significant stakes in, further undermining Solana’s credibility and investor trust.
In November 2022, Solana hit a cycle low of $8.62, marking one of its lowest points. Since then, however, the asset has made a strong recovery, currently trading around $143.25.
The Trader’s New Focus
This trader who predicted the 2022 market collapse and exited his Solana position early is back, this time backing MoonTaurus. His previous successful predictions lend serious weight to his new endorsement. He believes that the new meme coin will spearhead the anticipated market rally in the final quarter of 2024 and continue its momentum through 2025.
MoonTaurus has made a remarkable debut, capturing the attention of investors with its ongoing presale. Launched in late July 2024, the presale has already raised over $360,000 and attracted more than 1,000 token holders. The presale is structured in ten phases, with each stage featuring a progressive increase in the token price. For instance, the price per MNTR token in the first phase was $0.005. As of the current phase, it has doubled to $0.01, with further increases anticipated as the presale progresses. This pricing strategy is designed to reward early investors, with phase 2 investors looking at a 7x return when MNTR launches at $0.07.
One of MoonTaurus’ key draws is its deflationary token model. Most traditional meme coins often struggle with oversupply and inflation. However, MoonTaurus features a capped supply of only 3 billion tokens. This controlled supply and the phased presale pricing are crafted to drive value appreciation.
Another key factor driving MoonTaurus’ appeal is its rapidly expanding community. In just two weeks, the meme coin has attracted over 1,000 token holders. These include giant whales, who were early investors in leading meme coins like Shiba Inu. This strong support base strengthens MoonTaurus’ credibility and indicates a high potential for future growth. The project completed the first phase of its presale ahead of schedule and continues to experience rising participation, reflecting growing investor confidence and enthusiasm.
A reputable trader’s endorsement of MoonTaurus adds to the excitement surrounding the meme coin. The coin is projected to surge by 2,000% from its launch price by the end of 2024, translating to a 100x gain for investors who buy in during the second phase of the presale. Mid-term predictions suggest that MoonTaurus could achieve a $1 billion market cap, positioning it among the top meme coins and making it one of the biggest gainers of the 2024 bull run.
Website: https://moontaurus.com/Linktree: https://linktr.ee/moontaurus
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Source: https://cryptodaily.co.uk/2024/08/trader-who-dumped-all-his-solana-sol-before-94-correction-in-2022-says-this-meme-coin-will-lead-the-2024-market-rally