Billy, a Solana dog meme coin, has shown some strong resilience: from dev abandoning the project a few minutes after launch to touching an ATL of $15 million in September (-93% from ATH), Billy seems now to be back.
Launched on Pump.Fun, the dev abandoned the project few minutes after launch and the community took over. On Solana this seems to be the trend. Some CTO don’t survive and some become great success like Billy, Fwog and more.
Billy reached an ATH of $225 million, but from there, the price continued to drop, and it looked really bad for this cute dog, Solana.
However, the community believed in Billy, and Binance’s use of the Billy meme to promote their merchandise raised hopes for its comeback.
We’ll be chanting Billy to a billy until we see it happen!
No amount of FUD, no doubts, no market correction will shake us!
This is the time and place to believe in something, and that’s exactly what we’ll do
Bears get wrecked. Haters get wrecked.
Billy to a billy! $BDC pic.twitter.com/ClTBSRscRV
— Bongo 🥁 (@btcbongo) October 14, 2024
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Billy on Solana Could Push Back To ATH?
( BILLYSOL )
The price experienced a significant peak in July, followed by a sharp decline and then a prolonged consolidation phase from August to early October.
Recently, there’s been a noticeable upward movement in mid-October, with the current price around $0.04679. After the decline, the market looks to be slowly regaining momentum, with higher lows forming, which might indicate the start of a new uptrend.
At a Glance: The Moving Average (MA)
The price has recently crossed the 21-period moving average (blue line) to the upside. This can be a positive signal indicating that short-term momentum is turning bullish.
It could suggest further upward movement if the price stays above the MA.
At a Glance: The Volumes
Volume has increased alongside the recent price rise, though it is still not as high as it was during the July peak.
The increase in volume with the price move above the MA suggests renewed buying interest, which could further fuel the uptrend.
At a Glance: The Relative Strength Index (RSI):
The RSI is currently at 64.86, which is approaching overbought territory (above 70).
Similar to the previous chart, when the RSI hit similar levels in the past, the price either paused or corrected. This indicates the potential for some consolidation or a short-term pullback before further gains.
However, the RSI is still below 70, so there may be room for more upside before overbought conditions become a concern.
Price Key Levels:
The recent highs show that the next significant resistance level is near $0.04834. If the price breaks this level, the next potential target could be around $0.10.
Support is near the MA at $0.03925. If the price breaks below this level, it may test lower support around $0.025.
The market is looking good, and people are bullish on this Uptober. Billy could take advantage of this positive momentum – so keep this one on your watch lists!
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
