Solana has emerged as one of the most promising crypto tokens to rule over the current bull season. The network has become one of the most widely adopted chains to interact with, helping SOL skyrocket to new highs.
Amid multiple price corrections and rebounds, the token had earlier reached $260, but since then it has scaled down a bit, trading at $150 at press time.
According to CoinMarketCap, Solana is up 4% in the last 24 hours, followed by being up 14% in the previous week. Here’s when the token can reclaim and breach its earlier price high of $250.
Also Read: Solana Meme Coins BONK, DogWifHat, and Maneki Price Analysis for May
Solana’s Unparalleled Popularity
Solana’s recent price rise and ascents have taken the market by storm, helping the token emerge as one of the most successful crypto tokens to have ruled the crypto space. SOL has documented a stellar increase in its presale projects, giving birth to new meme coins sweeping over the crypto vertical.
Per Solanafloor, Solana’s flagship blockchain-centric phone, dubbed the Solana Chapter 2, has already surpassed the 130k mark in preorders, adding more to its growing popularity.
Similarly, SOL has also been outpacing Ethereum in terms of 24-hour DEX volume metrics, solidifying its base up a notch.
Solana Forecast: When Will SOL Reclaim Its ATH Of $260?
According to CoinCodex, a notable crypto analytics platform, Solana may surge by 14% by the end of May 2024 to trade at $176.
“According to our current Solana price prediction, the price of Solana is predicted to rise by 14.36% and reach $176.33 by June 6, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 68 (greed). Solana recorded 15/30 (50%) green days with 9.76% price volatility over the last 30 days.”
The platform later predicts that SOL will breach the $200 mark by the end of 2024, gaining nearly 144% in the process.
Also Read: Solana (SOL) Price Prediction for the Weekend
“SOL is forecast to trade within a range of $150.52 and $378.76. If it reaches the upper price target, SOL could increase by 144.75% and reach $378.76.”
However, sudden crypto market volatility and movement also play a crucial role in determining the price pace of a token. SOL may gain considerable momentum sooner than predicted timelines if the market flow favors the token more aggressively and rigorously.