The recent surge in DEX-launched Solana meme coin pumps has captured the attention of many investors, with Achiwifhat token experiencing a remarkable 630x skyrocket move in the past 24 hours. This article aims to provide a thorough analysis of this price movement and explore the possibility of a second bounce. Additionally, the article highlights the emergence of a new developer taking over the Achiwifhat project, which could potentially fuel further growth.
Achiwifhat’s Price Action
Achiwifhat is currently trading at $0.00011221, representing a 24-hour change of +4,423%. The token initially launched at a starting price of $0.000017, and within the first hour, its price accelerated by an astounding +10,762%. This rapid growth attracted traders and propelled the trading volume to over $4.21 million. As a result, early investors enjoyed a staggering +37,382% return, with the token reaching an all-time high of $0.001972.
However, after the initial surge, Achiwifhat experienced a sharp -97.25% drop, leading to concerns of capitulation. Despite this setback, the token still exhibits promise for further growth, as indicated by its $100.75k market cap. Comparatively, typical breakout Solana meme coins reach around $1.5 million in market cap, suggesting a potential 15x growth for Achiwifhat.
One significant concern for Achiwifhat’s future growth is its liquidity. Currently, the token has a liquidity pool of $33.56k against a $100k market cap. This raises concerns about the token becoming unsellable, which could potentially drive more growth. On the other hand, the unlocked liquidity pool poses a risk for long-term holders, potentially trapping their investments if liquidity diminishes.
As a result of these liquidity issues, some investors may consider exploring other high-growth meme coins such as Sponge V2. Sponge V2, the latest iteration of the Sponge ($SPONGE) meme coin, has gained significant attention in the cryptocurrency market. With promising innovations and opportunities for investors, Sponge V2 introduces a Play-to-Earn (P2E) utility and offers various staking mechanisms for enhanced earning experiences.
Sponge V2 has set ambitious goals for its roadmap, including reaching 10,000 holders, securing Tier 1 CEX listings, and achieving a $100 million market cap. Notably, the project emphasizes utility and community engagement, with the integration of P2E mechanics and exclusive staking mechanisms. These features make Sponge V2 stand out in the domain of meme coins.
The recent surge in DEX-launched Solana meme coin pumps, exemplified by Achiwifhat’s tremendous price movement, has sparked significant interest among investors. While Achiwifhat shows promise for further growth, liquidity concerns may prompt some investors to explore alternative meme coins such as Sponge V2. With its ambitious roadmap and innovative features, Sponge V2 aims to redefine the meme coin landscape. However, it’s crucial to remember that investing in crypto carries high risks, and this article should not be considered as investment advice.