Is It Time to Buy solana (SOL) After the Last Correction? This Trader Is Chipping
TL;DR
- Solana (SOL) has had a strong recent performance, with analysts such as CryptoJack predicting new highs before the end of 2024.
- Solana’s growth has been accompanied by the success of various meme coins on its network, such as WIF, whose market cap quickly rose to nearly $5 billion.
Despite being in the red today (May 8), Solana (SOL) has been among the best-performing cryptocurrencies recently, registering a 20% increase on a weekly scale. One analyst who noticed the positive trend was CryptoJack, an X user with hundreds of thousands of followers.
Hey believes the token formed a “rounded bottom pattern for weeks” and ready A price explosion is expected in the short term. Crypto Jack admitted that he entered into a long position in SOL and expects it to hit a new all-time high before the end of 2024.
Analyst using the X Inmortal handle summarized bullish forecastmoreHe describes Solana’s cryptocurrency as “the fastest horse of the cycle.” Merchant envisioned A new peak was reached as early as this summer.
Crypto Tony was a little less optimistic, guess There was a consolidation near $137, followed by a revival above the $170 level.
For those interested in investigating additional Solana price predictions, feel free to check out our exclusive video below:
Solana Meme Coins Became a Sensation
Solana’s success Last year coincided with the launch and subsequent price explosion of numerous meme coins created on its network. Some examples include dogwifhat (WIF), bonk Inu (BONK), Book of Meme (BOME), Popcat (POPCAT) and many more currently available. was standing are among the top 10 assets in their field.
WIF’s progress is beyond doubt -most influential. Its market cap rose to almost $5 billion at the end of March and then fell to its current level of about $2.9 billion. Price above a staggering 5,600% since December last year, reinforced Thanks to the support of leading crypto exchanges, increased investor interest, support from prominent names, and other factors.
WIF has also built a solid community. Fans of the token earlier this year raised $650,000 to put its logo on the Sphere, a famous entertainment arena in Las Vegas, Nevada.
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