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Solana (SOL) experienced a potential bearish trend this week, with prices falling beneath the 50-day moving average (DMA) as geopolitical tensions between Israel and Iran escalate.
Consequently, numerous investors are redirecting their attention to a new airdrop casino initiative, Meme Bets (MEMEBET).
Earlier this week, SOL fell to approximately the $133 mark, influenced in part by rising worries regarding a possible Israel/Iran conflict.
Even though the price bounced back above $140 following robust U.S. employment figures, which alleviated some recession apprehensions, SOL has yet to regain its 50DMA.
This suggests a potential bearish trend in the near future.
Source: TradingView / SOLUSD
Current market sentiment indicates that SOL is more likely to revisit its September lows around the $120 area, or even its August lows below $110, instead of breaking above the $160 resistance level.
New Airdrop Casino Meme Bets Gains Traction – Key Details You Need to Know
While Solana grapples with short-term unpredictability, investors are seeking alternative prospects like Meme Bets, a new airdrop casino that has garnered substantial interest.
Meme Bets is set to introduce a web and Telegram-based crypto casino, establishing itself as the first GambleFi protocol that permits betting with meme coins.
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The project has successfully raised $350,000 during its presale, drawing attention from the meme coin trading community.
Meme Bets distinguishes itself through its innovative strategy, allocating 20% of its token supply for casino rewards.
These rewards will be distributed among MEMEBET token holders based on their casino activity, potentially yielding substantial payouts for engaged participants.
Analysts believe that Meme Bets could evolve into a significant contender in the GambleFi arena, possibly competing with well-established platforms like Stake.com.
Cryptonews.com’s in-house crypto analyst, Crypto Chester, elaborates on the potential of Meme Bets in a recent video, emphasizing its prospects of achieving a valuation in the hundreds of millions, which could result in tens of millions in airdrop rewards.
With such promising potential, investors looking to capitalize on this new airdrop casino should move swiftly.
The presale price of MEMEBET is scheduled to rise in just over two days, making this an opportune moment to participate.
Meme Bets has captured the attention of both airdrop seekers and GambleFi enthusiasts, presenting a unique value proposition through its blend of meme coin culture and online gambling.
Its presale success reflects a strong demand for projects that integrate these two popular segments of the crypto market.
For those interested, further information about Meme Bets can be found on their official website.
Visit Meme Bet Now
The post Solana Charts Turn Bearish – Investors Are Flocking to This New Airdrop Casino appeared first on Cryptonews.
