The Solana (SOL) market has witnessed a significant uptick over the past few days. The asset went from trading at a low of $143.7 to a high of $160. This comes after a nearly 9% increase during this period. But this streak was broken as SOL began the week at a low of $155. At press time, the altcoin was trading around $156.24.
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Market Performance And Predictions
Meme Coins Surge in Solana Market
Solana wasn’t the only asset that was rising. Meme coins in its market also saw an uptick. The market cap of SOL meme coins is presently $8.8 billion. This makes it clear how important these assets are to the Solana ecosystem. Meme coins, like Bonk (BONK) and Dogwifhat (WIF), were bagging gains of over 30%
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Looking At The Possibilities of Solana Reaching $500
Changelly revealed that SOL’s surge to $500 was doubtful. According to the platform, the altcoin will reach a maximum value of $248,49 in 2025. In addition, the minimum price of Solana will be around $144. The average trading cost of the asset will be $196.25.
Analyst Predictions And Market Sentiment
Despite this bearish prediction, several analysts are optimistic about SOL’s uptrend in the coming year. An analyst who goes by Curb on the X platform previously showed how SOL had been moving sideways.
But the expert also pointed out how Solana could break out sooner rather than later. Curb suggested that the asset will quickly increase from $400 to $500 and eventually hit $1000.
Solana currently trades 39% below its all-time high of $260. While the above prediction may seem unrealistic at the moment, SOL has surged by over 600% throughout the past year. As a result, Solana’s possible ascent to $500 wouldn’t come as a surprise to market watchers.
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