Solana-based cryptocurrency Beercoin has begun to show weakness after monumental early success.
Beercoin Price Sinking but Expert Says This Sealana Meme Coin Could Explode Next
This article was published more than a year ago. Some information may no longer be current.
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However, another Solana-based meme coin, Sealana, is just days out from its exchange launch, and analysts are hopeful that it could explode next.
BEER Plunges Over 30% as Crypto Prices Tumble
It’s been a challenging time for anyone who bought Beercoin this week as its price endures a steep correction.
BEER seemed to be “up-only” since its launch in May, peaking at more than a 10x from its initial price.
However, a mix of profit-taking and adverse market conditions have translated to devastating bearish momentum.
The crypto market cap is down 2.5% today, with Coinglass data reporting over $400 million in long liquidations as a result.
But Beercoin is following an expedited bearish trajectory, with its price down 36% today and 77% this week.
While this is bad news for recent investors, its price is still over four times higher than when CoinGecko data began on 24 May.
So, with many early investors still in profit, will Beercoin’s selloff continue?
The Beercoin community is split on its next move. On the one hand, concerns have been raised about the project’s team selling tokens following centralized exchange listings.
However, many community members have accepted the move and anticipate that the project will continue pushing forward.
Renowned market commentator Sjuul says that “better days are coming” and reiterates that many of the team’s tokens are locked for two years.
Meanwhile, Man of Bitcoin suspects that Beercoin’s retracement is overextended and that a recovery will follow.
Based on the analysis, BEER may advance toward $0.00096 in the coming weeks.
Similarly, The Cryptomist says that he bought Beercoin and cites the token’s lengthy vesting schedule and that the team is “hunting tier 1 exchanges.”
Nevertheless, with a near-80% selloff this week, Beercoin has a long road to recovery.
That’s why many traders are switching to other meme coins, like Sealana, which a prominent industry figure recently backed to 100x.
New Solana Presale Sealana Is Just 1 Week From IEO – Next SOL Meme Coin to 10X?
Sealana’s notoriety is ramping up as it approaches its exchange launch, which is just seven days away.
Beercoin’s exchange launch and 10x gains followed a presale, where it raised 30,000 SOL, equating to around $4 million at today’s price.
However, Sealana has also hit a $4 million total raise in its presale, suggesting a similar explosive exchange launch could be on the horizon.
Sealana is based on an overweight seal who is fond of junk food and placing degen trades on meme coins. He lives a true Solana degen lifestyle.
And like any degen trader, Sealana also avidly appreciates edgy memes. His social media is brimmed with foul-mouthed South Park references and comedic nods to the MAGA political movement.
This bold approach has garnered huge recognition, with leading analysts taking note of the presale.
Crypto Mischief recently covered it in a video, speculating SEAL could even be the next WIF. The analyst underscores its immense early interest despite no whitepaper, roadmap, or team.
Others are also on board, with the prestigious Cryptonews YouTube channel suggesting it has 100x potential.
But with the Sealana presale ending in seven days, prospective buyers are against the clock to secure their tokens.
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