Despite market turbulence, successful new meme coins have continued attracting attention by delivering huge returns during their launches. One such coin is Test ($TST), a meme coin on the Binance Smart Chain that’s gained major buzz following speculation about a potential link with former Binance CEO Changpeng Zhao (CZ).
TST’s traction has largely come from a now-deleted video tutorial that featured the coin’s deployment using Four.meme—the first meme coin launchpad on BNB Chain. The token was also quickly listed on Binance, adding momentum to the token’s rise. However, CZ has since clarified that the coin’s use in the video tutorial does not represent an endorsement of the project by himself or Binance.
The initial excitement pushed TST to impressive heights, but the coin’s hype has since cooled off. TST’s price declined from a peak of $0.52 to around $0.19 in a matter of hours—but it’s worth bearing in mind that the token’s price was virtually zero when it was created on February 6.
Let’s break down TST’s price action, and consider its chances of rebounding.
Can Test Token Sustain Its Price Momentum?
Although TST surged exponentially as the Binance and CZ speculation grew, the token has seen a sharp drop over the past day.
At the time of writing, TST is struggling below its key resistance level of $0.20, with potential support at approximately $0.0955.
Although TST has fallen by more than 60% from its recent all-time high (ATH) of almost $0.53, some traders remain optimistic about its near-term trajectory.
Tyrex, a popular crypto trader on X, has stated that he’s buying more as he expects TST to retest its ATH.
I expect price to retest ATH at 0.48
I’m not selling now, just buying a bit more and waiting for this ATH retest pic.twitter.com/yUddt7gEhD
— Tryrex (@Tryrexcrypto) February 9, 2025
For now, TST’s minimal track record makes its next move particularly tough to predict, especially given how volatile meme coins can be when they enter a price discovery phase.
Moreover, TST’s utility remains unclear. Like many tokens in this niche, its price could drop much further if no clear real-world use case emerges.
TST’s future mainly depends on further project updates, general sentiment toward meme coins, and the growing popularity of the BNB ecosystem. The BNB Chain is becoming more popular as a place to launch meme tokens because of the platform’s low transaction fees, and the launch of the Four.meme crypto launchpad. Despite the controversy surrounding its success, TST’s rapid acceleration shows how quickly a meme coin can gain traction on this network.
TST could stay relevant for longer if it builds and maintains a strong community of supporters. Otherwise, its price could broadly track BNB’s price—or simply remain unstable. In the meantime, a new Layer 2 solution on the Solana blockchain (another top destination for meme coin builders) is reaching new milestones despite broader market instability.
Could Solaxy Outperform Test?
Unlike TST, Solaxy ($SOLX) is a utility-focused project. It’s Solana’s first Layer 2 solution, and has been designed to batch and process transactions away from the main Solana blockchain.
Solaxy aims to address major problems that Solana has struggled with, including network slowdowns and failed transactions during peak usage times. It will ensure that Solana’s mainnet can remain fast and stable, even when transaction volumes spike.
The SOLX utility token will be a vital part of Solaxy’s network architecture, as it will be used to pay for transactions, distribute governance votes, and secure the network through a staking mechanism.
This vision has resonated with investors, leading to a huge wave of early support. The SOLX token presale has now raised $19.2 million in less than two months.
Early investors can also stake their SOLX tokens in return for a staking APY of up to 212%. Buyers with high conviction in the project’s long-term potential have already locked up more than 5.4 billion SOLX tokens.
Using SOLX’s multi-chain functionality, Solaxy will be able to create a bridge connecting Solana and Ethereum, and combine Solana’s high throughput with Ethereum’s deep DeFi liquidity. This means that Solaxy will unlock new possibilities for developers across multiple Web3 verticals, from DeFi to NFTs and gaming.
SOLX is currently priced at $0.00163, with an exchange listing expected in Q2 or Q3 of 2025. However, the presale’s strong momentum indicates that Solaxy could launch even sooner.
