With the crypto bull season drawing closer, certain projects are starting to make headlines. The trend that began with Bitcoin‘s Ordinals (ORDI) has spread to Solana‘s BONK, with both coins experiencing incredible price surges that continue to delight investors. Attention is now turning towards the AVAX network.
Solana (SOL) and Avalanche (AVAX), both referred to as “Ethereum killers,” showcased their strength in 2021, reaching historic highs. SOL’s price climbed to $260, while AVAX peaked at $146. However, following these highs, both altcoins suffered a dramatic fall, especially after the FTX incidents, with SOL dropping to $9 and AVAX to $8.7.
At the start of 2023, both SOL and AVAX began to recover, with AVAX, following SOL’s lead, regaining strength. As of now, AVAX has seen a 267% increase on a yearly basis, trading around $41.
Developments on the Solana network have positively impacted its NFTs and Altcoins, with BONK benefiting greatly, surging by 18,000% compared to its price a year ago and experiencing a 500% increase in just one month. Avalanche’s notable memecoin, Coq coin, has also made significant gains, multiplying its value by fivefold in the last month and rising over 300% in the last week alone.
Coq coin’s trading volume has increased by 90% in the last 24 hours, reaching $52 million. The altcoin’s chart shows a breakout from a parallel channel, rising to $0.000002811. If it maintains above the broken channel, the price could rise further, potentially delighting investors. The general market volume is around $90 million, indicating active trading within the market. The performance and growth of Avalanche’s memecoin have sparked curiosity about its future price trajectory.