In the final quarter of the year, the cryptocurrency market typically shows a positive trend, presenting potential investors with exciting chances for financial growth. Now that October has arrived, consider these three Solana-backed tokens that may yield substantial profits, possibly transforming a $100 investment into $10,000.
As indicated by data from Cryptorank, the SOL price historically performs well in October, showcasing an average growth rate of 18.7% over a four-year period. This optimistic trajectory could propel Solana-related tokens towards a sustained upswing.
### Promising Solana Coins for October Investment Multiplication
### Dogwifhat (WIF)
The meme coin Dogwifhat (WIF), based on Solana, is renowned for its whimsical branding featuring a Shiba Inu donning a beanie. Despite low volatility in trading earlier, WIF saw a notable 15% surge on Tuesday, breaching the $2 mark and breaking out decisively from a descending wedge pattern.
This breakout signals the end of a six-month correction trend, setting the stage for a potential rally towards $4 and then $4.8. Coinglass reported a surge in the WIF funding rate to 0.0073%, indicating strong buyer confidence in acquiring the asset at a premium price for long-term holding.
### Helium (HNT)
Helium (HNT) operates as a decentralized network supporting Internet of Things (IoT) devices, facilitating communication between low-power wireless devices over significant distances.
In contrast to other Solana tokens, HNT has demonstrated a consistent recovery since early July 2024, elevating its value from $2.93 to $7.36 – marking a 150% growth. Analysis of the weekly chart suggests a notable upswing forming a cup and handle pattern, hinting at a potential 42% rally with a critical resistance level at $10.48.
### Jupiter (JUP)
Jupiter (JUP) functions as a decentralized exchange aggregator on the Solana blockchain, designed to offer optimal token swap rates from diverse liquidity sources. Over the past three weeks, the JUP price has shown a sharp V-shaped recovery from $0.658 to $0.859, translating to a 30% increase.
During the same period, Jupiter’s Total Value Locked (TVL) surged from $962.4 million to $1.18 billion, signifying a substantial 22.6% rise. This surge suggests increased capital inflow into JUP’s DeFi protocol, indicating growing user trust.
With consistent buying pressure, the price of the Juiper coin is just 6% away from a significant breakout from a descending wedge pattern.
For further insights, explore other leading Decentralized Exchanges for leverage Trading.
The original information can be found in the article “3 Solana Based Coins to Buy to Turn $100 to $10,000 in October” on CoinGape.