Solana News: ’Tiger King’ Joe Exotic Launches Official Meme Coin on Solana from Prison

In an unexpected twist, Joseph Maldonado-Passage, famously known as Joe Exotic from the Netflix docuseries ’Tiger King,’ has ventured into the world of cryptocurrency by launching an official meme coin on the Solana blockchain from behind bars. Here’s what you need to know.

Why ’Tiger King’ Joe Exotic Launched a Solana Meme Coin From Behind Bars

Joseph Maldonado-Passage, also known as Joe Exotic from the Netflix docuseries ’Tiger King,’ debuted a meme coin on Solana from prison earlier this week. The 62-year-old, who has been imprisoned for seven years, didn’t launch the meme coin himself. Instead, his lawyers helped him get ’Official Tiger King’ off the ground, trading under the ticker name EXOTIC. The endeavor aims to benefit children through donations to Operation Smile. However, the success of celebrity meme coins often hinges on people’s attention, which can fade quickly.

Solana Price Faces $125 Breakdown, Whale Dumps $7.6M in SOL

Solana (SOL) price is under pressure after failing to hold its key support at $125. A whale sold $7.6 million worth of SOL tokens, contributing to a decline in network activity. Technical patterns also signaled a breakdown, resulting in SOL erasing most of its March gains. The altcoin fell from $138 to $131 within hours, and trading volumes ROSE 4% to $3.4 billion as sellers took control. Analyst Ali Martinez identified $125 as the ’most important support level’ for Solana, warning of a deeper correction toward $105 if SOL fails to reclaim this zone. Martinez also noted a bearish wedge pattern, with SOL already breaching the lower trendline.

Solana (SOL) on the Verge of 16% Price Crash Amid Social Media Optimism

Solana (SOL), the sixth-largest digital asset, is facing a crucial moment as technical indicators suggest a potential price crash of 16%. Despite historic highs in social media Optimism around the asset, analyst Ali Martinez has identified $125 as the most important support level for SOL. A breakdown below this level could lead to further declines and a retest of the $105 support in the near future. Martinez’s chart outlined an ascending wedge pattern that could result in a bearish breakdown, signaling bearish implications for SOL.

Solana Network Hits 11.12M Addresses, Marking New Milestone

Solana has reached a new adoption milestone with 11.12 million network addresses, indicating increased adoption and engagement. The network’s growth is attributed to its appeal for decentralized applications (dApps), NFTs, and DeFi projects due to high-speed transactions and low fees. Despite the network’s expansion, Solana’s native token SOL has experienced price fluctuations, recording a 35% drop in value over the past 30 days. However, the surge in active addresses marks a recovery from past volatility, suggesting growing trust and interest in the SOL ecosystem.