Solaxy Meme Coin Surges 150% Amid Spot SOL ETF Anticipation

Solana meme coins have recently experienced significant price surges, potentially anticipating the imminent approval and launch of spot SOL ETFs. Among these, newer meme coins like Solaxy (SOLX) have garnered considerable attention. Solaxy, which gained prominence as the first notable Solana Layer-2 coin, raised nearly $60 million in its presale. The recent listings on multiple centralized exchanges (CEXs) and the rollout of the Solaxy ecosystem have contributed to its price surge of nearly 150% since the start of the week.

Solaxy's price increase is part of a broader crypto market rally, with Bitcoin surpassing $110k and Ethereum and Solana clearing key resistance levels. This bull market euphoria has historically benefited low-cap meme coins, turning small-scale investors into millionaires. Solaxy, in particular, has shown signs of an explosive rally. On June 30th, the SOLX price hit its macro bottom after claims went live for staked tokens. Since then, it has surged by more than 150%, currently trading at $0.00137.

Elliot Wave analysis suggests that the corrective A-B-C move is over, and a new 5-wave upside move is underway, which could result in a new all-time high. The SOLX price has flipped the key $0.00112 support/resistance level and has continued to hold above it despite several retests. In addition to the broader market rally, Solaxy is benefiting from its new CEX listings on MEXC and LBANK. The rollout of Solaxy’s Layer-2 ecosystem, including the mainnet and the highly anticipated meme coin launchpad scheduled for July 21, is adding to the bullish momentum. The debut of its native DEX, Neptoon, is also expected to contribute to its growth.

Many experts had previously called SOLX the next 10x crypto. It now appears possible that the meme coin reaches $0.0044 in the coming weeks, which would be a 10x rally from its June 30th low. With the broader market outlook improving rapidly, SOLX is poised to fulfill analysts' projections of being the next significant crypto performer. As the bull market continues, new low-cap meme coins like Solaxy are likely to remain in the spotlight, offering potential outsized returns for investors.