The last few days have been difficult for one of the largest cryptocurrencies in the world. Indeed, Solana has faced a bearish drop that saw the asset lose 40% of its value in a stark decline. However, that may already be a thing of the past. As Solana has fallen 32% this week, experts say one thing could have SOL eyeing a surge to $400.
In a show of resilience, Solana bounced back Wednesday. The token reclaimed the $170 mark, jumping 4.49% by midday. That could be setting the stage for a notable surge as the token approaches what could be a game-changing development. The question is, can it reach its full potential amid the fall that plagued it at the start of the week?
Also Read: Coinbase Derivatives to Launch Solana (SOL) Futures
Solana to $400? Why Experts Still Believe In SOL Despite Recent Drop
The start of the year has been a mixed bag for Solana. Although the network has enjoyed a flurry of positive sentiment, the price took a hit for the last month. Indeed, it dropped as much as 40% in that span, as its predicament was called a “perfect storm” by analysts in a Forbes report.
A meme coin frenzy cooling and plummeting on-chain activity has many concerns for the token. However, there may still be a light at the end of the tunnel. Indeed, as Solana recovered from its 32% drop over the last seven days, according to CoinMarketCap, experts believe one thing could help propel SOL to a landmark $400 price.
Also Read: VanEck Predicts Solana (SOL) Will Reach $520 This Year
Specifically, the hype around a potential SOL ETF approval has many expecting a massive surge incoming. Asset manager Franklin Templeton has filed for a Franklin Solan Trust in Delaware. Moreover, there are those who believe this signals an incoming ETF filing for the $1.2 trillion asset manager.
That could fuel a monumental price surge. Considering the asset has already recovered $170 from its recent drop, there is an abundance of hope. Cryptocurrency price prediction platform CoinCodex projects the token will reach $400 in 2025. Specifically, it forecasts the asset will break through the mark in August, surging 135% from its current position.