Solana (SOL) has performed incredibly well over the last few years. The asset’s price tanked after the collapse of FTX in November 2022, falling to sub-$10 levels. Since its 2022 lows, SOL has recovered, surging to more than $200 earlier this year.
SOL is currently the best-performing cryptocurrency among the top 10 projects by market cap. The asset has rallied by 8.4% in the daily charts, 12.8% in the weekly charts, 16.3% in the 14-day charts, and 6.5% over the previous month.
The latest market resurgence could be due to the Federal Reserve cutting interest rates. Rate cuts usually lead to investors taking on more risks as borrowing becomes easier. Bitcoin has reclaimed the $63,000 level, and other assets have followed suit.
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Solana’s Future Price Predictions
Solana Predicted To Hit $500
While SOL is enjoying a healthy rally, it might not be the end for the asset. According to X user Joji, SOL could surge 233.3% to $500. While he does not clarify why SOL may surge to $500, Joji says, “We are here in the cycle.”
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Changelly’s Analysis
According to Changelly’s analysis, Solana (SOL) won’t breach the $500 mark until at least January 2028, about three and a half years from now. The platform anticipates SOL hitting a maximum price of $519.46 in January 2028.
Telegaon’s Analysis
Telegaon analysts are more bullish on SOL than Changelly. The platform anticipates the asset breaching the $500 mark in 2026, about a year and a half from now. Telegaon anticipates SOL trading at a maximum price of $506.39 in 2026.
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Given that the crypto market is on a bull run, SOL may hit the $500 target much sooner than anticipated.