The 2022 bear market was a brutal period for the cryptocurrency market, with most assets plummeting by more than 50%. Solana was one of the hardest hit, falling 94% by the end of the year. While many traders were caught off guard and saw their previous gains wiped out, those who exited early managed to avoid significant losses.
One such trader, known for predicting a market drop in early 2022 and exiting just in time, is now making headlines again with a bold new prediction. The professional trader recently resurfaced with bullish news, predicting that popular meme coin MoonTaurus (MNTR) will lead an expected market rally in Q4 2024. This prediction comes on the heels of MoonTaurus’ recent 100% price increase, which has generated a lot of attention and optimism from investors. Let’s take a deeper look at why this trader’s prediction could be influential, and what the future holds for MoonTaurus and the broader crypto market.
The fall of Solana
Solana experienced its worst performance in 2022, with the cryptocurrency’s price plummeting 94.15% from $170.06 to $9.95. By November 2022, Solana’s market cap fell from over $55 billion to just $3 billion.
While the bear market played a role in this downturn, it was greatly exacerbated by Solana’s relationship with FTX and its founder, Sam Bankman-Fried. Solana’s reputation was severely damaged by its close relationship with Bankman-Fried, who faces multiple criminal fraud charges following the exchange’s collapse. Many projects built on the Solana blockchain, often referred to as “Samcoins,” plummeted in value, with some, like Serum, folding as FTX’s collapse rocked the ecosystem. Additionally, evidence emerged that Bankman-Fried may have manipulated the price of Solana-based tokens in which he controlled or held significant stakes, further damaging Solana’s credibility and investor trust.
Solana hit one of its lowest points in November 2022, when it fell to a cycle low of $8.62. However, since then, the asset has rebounded strongly and is currently trading at around $143.25.
A new focus for traders
The trader who predicted the 2022 market crash and exited his Solana position early is back, this time backing MoonTaurus. His previous successful predictions add significant weight to his new support. He believes that the new meme coin will lead the expected market rebound in the last quarter of 2024 and continue the momentum in 2025.
MoonTaurus made a splashy debut, and its ongoing presale has attracted the attention of investors. The presale, which launched in late July 2024, has already raised over $360,000 and attracted over 1,000 token holders. The presale is divided into ten phases, with the token price increasing gradually in each phase. For example, the price of each MNTR token in the first phase was $0.005. As of the current phase, the price has doubled to $0.01 and is expected to rise further as the presale progresses. This pricing strategy is designed to reward early investors, and investors in the second phase will receive a 7x return when MNTR launches at $0.07.
One of the main attractions of MoonTaurus is its deflationary token model. Most traditional meme coins often face problems with oversupply and inflation. However, MoonTaurus’ token supply is capped at just 3 billion. This controlled supply and phased pre-sale pricing is designed to drive value appreciation.
Another key factor driving MoonTaurus’ appeal is its rapidly expanding community. In just two weeks, the meme coin has attracted over 1,000 token holders. These include whales, who were early investors in leading meme coins such as Shiba Inu. This strong base of support strengthens MoonTaurus’ credibility and indicates great potential for future growth. The project completed the first phase of its presale ahead of schedule and participation continues to rise, reflecting growing investor confidence and enthusiasm.
The endorsement of MoonTaurus by a well-known trader has added more heat to the meme coin. The price of the coin is expected to increase by 2,000% from the issue price by the end of 2024, which means that investors who bought in the second stage of the pre-sale will get a 100-fold return. Medium-term forecasts show that MoonTaurus may reach a market value of $1 billion, ranking among the top meme coins and becoming one of the coins with the largest gains in the 2024 bull market.
website: https://moontaurus.com/Link tree: https://linktr.ee/moontaurus
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily and is not intended to be used as legal, tax, investment, or financial advice.
