Analyst Who Predicted Solana’s 1,100% Move Reveals Where The Altcoin Is Headed Next
13 Mai 2024 - 10:00PM
NEWSBTC
Crypto analyst Javon Marks has provided insights into the future
trajectory of Solana (SOL) after it hit a 1,100% return. The
analyst is known to have called the crypto token’s previous high
correctly, which is one reason his latest prediction is worth
keeping an eye on. Solana Could Rise To As High As $453
Marks mentioned in an X (formerly Twitter) post that despite its
recent pullback, Solana’s price may be getting ready for another
price rally. He noted that a move of over 54% may already be in the
pipeline and that such a price move could open up room for another
run of over 93%, which would send Solana to $453. Related
Reading: Cardano Ready For 15x Move, Crypto Analyst Reveals The
Major Drivers Source: X Marks predicted last year that Solana would
climb above $200, which it eventually did this year, peaking at a
year-to-date (YTD) high of $202. Although the crypto token has
dropped significantly from that price level, Marks’ recent
prediction confirms that Solana’s run isn’t done yet and will still
surpass its current all-time high (ATH) of $260. Solana rising to
$453 looks more feasible considering that crypto analysts like
Altcoin Sherpa have predicted that the crypto token could rise
above $500 by year-end. Crypto analyst Hansolar also predicted that
Solana could climb to $600 in this market cycle. Meanwhile, Crypto
YouTuber Jake Gagain predicted that Solana will rise to $750,
although he mentioned that it will likely happen in 2025. SOL
Could Become The Third-Largest Crypto Token Solana’s rise to as
high as $500 could lead to the crypto token becoming the third
largest crypto asset by market cap, only behind Bitcoin and
Ethereum. This is possible, as a rise to $500 is almost double
Solana’s current ATH. Crypto analyst Chris O also previously
predicted that this would likely happen as he predicted Solana and
ADA would battle for the position. Meanwhile, asset manager
Franklin Templeton also sounded confident in Solana’s potential to
become the third-largest cryptocurrency. In a recent analysis, the
asset manager highlighted the factors that could lead to this
development. One is Solana’s technology, which they think will be
perfect for the sectors that will drive the next wave of crypto
adoption. Related Reading: US Mega Banks JP Morgan And Wells
Fargo Unveil Bitcoin Exposure As BTC Drops To $60,000 Franklin
Templeton also alluded to the upcoming airdrops on the Solana
network, which could bring more liquidity into the ecosystem and
possibly cause a surge in Solana’s price, just like when the Jito
and Pyth airdrops occurred. The asset manager also noted that meme
coin activity on the network isn’t slowing, which could contribute
to Solana’s rise to becoming the third-largest
cryptocurrency. Solana has become the foremost network for
trading meme coins, which has led to an influx of new investors
into the ecosystem. Therefore, a sustained network expansion will
likely reflect positively on Solana’s price sooner or later.
At the time of writing, Solana is trading at around $144, up in the
last 24 hours, according to data from CoinMarketCap. SOL
price at $144 | Source: SOLUSD on Tradingview.com Featured image
from DL News, chart from Tradingview.com
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