As we enter into another phase of the crypto bull run, experts say Solana's popularity or Dogecoin meme dominance might not be enough to make them a good buy. This is with investors' move showing a new shift toward high utility but low cap projects. The data-driven analysis shows why the Solana and Dogecoin prices have been lagging lately and what could help investors make a breakout.
Let's pick them one at a time to see why analysts say Solana and Dogecoin might be falling behind this bull season.
Why Solana is Making Fundamental Progress But Lagging Technically
The August market has not been as fast as many investors had earlier thought, with the Solana price at another slow pace. Several fundamental factors have added to Solana's popularity over the last few months, including Solana ETF submissions.
However, the Solana price has not made much progress, with the price now in a range below $175. Further analysis shows the best bullish condition could only see Solana at a 2x surge this year.
To much surprise, while Institutional accumulation has increased lately, the price still struggles below $200. In addition, the last few months have seen firms like BitMining and Upexi increase their position in SOL staking. However, Solana demand has been mostly attributed to speculative meme trading, which now sees the price lagging as meme sentiment reduces.
Dogecoin Price Projection Amidst Declining Meme Hype
The large stake of Dogecoin in the meme coin market has continued to shrink in the market lately. More than half of the meme coins that broke out in the market over the past few years have faded away.
Top investors are now concerned about meme coin investments as volatility and uncertainty hit record highs. As a result, Dogecoin's initial fast growth has seen a sharp drop as investors move towards real utility.
The Dogecoin price has remained in a bearish zone since the year opened, rejecting all breakout attempts at major resistance. Analysts say even if the Dogecoin price gets a boost this August, it might still not be enough to return it to $0.48 this year.
The Dogecoin high-risk factor has created a limited upside potential with a max bull surge projected for $0.35 this year.
Why Remittix Might Replicate XRP Surge And Beyond
Following the common saying of “modern problem requires modern solution,” Remittix is proving to be the modern solution to crypto payment. This new PayFi project is introducing a crypto-to-fiat payment system that makes paying for everyday goods easy with crypto. The Remittix system facilitates a smooth connection between crypto and the local bank network by delivering crypto payments to bank accounts.
This new project has continued receiving high demand in the market lately, raising over $19.1 million in the early offering. However, with the coin set to launch on a centralized exchange, analysts project the coin could see a sharp spike with early adoption.
Market projection puts Remittix surge at 30x this year, outperforming Solana and Dogecoin in ROI. Main catalysts to look at for Remittix breakout this year include:
- Wallet Launch
- Official CEX listing
- Post presale price change from the current $0.09
Discover the future of PayFi with Remittix by checking out their project here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
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