Solana Weekend Prediction: Can SOL Inch Closer To $200?

Juhi Mirza
Source: Blockchaintimes News

Solana has been one of the best-performing crypto tokens taking over the Web3 realm lately. SOL has proven its mettle from all sides, championing leading verticals in the process. The token has portrayed a bullish price stance, primarily sparked by the ongoing meme coin frenzy that took SOL to new price levels.

Per CoinMarketcap, Solana is currently trading at the $173 price mark, displaying prospects for a bullish price hike to $200.

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Solana Flips Ethereum in Onchain Activity Metrics

Source: Blockworks

Solana is charting a new price course for itself as the token’s increasing popularity continues to testify to its inevitable price rise. Per Solana Floor, SOL has recently flipped Ethereum in 24 hours on-chain trading volume, proving its robustness to echo in all leading web3 verticals.

Solana’s stellar popularity peaks are primarily driven by the increased levels of meme coin production that the network is harboring as of late. The meme coin mania has helped Solana gain the majority of its lost valuation and, at the same time, bask in the new price thresholds that the token has acquired in the current bull season.

According to CoinMarketCap, Solana has gained nearly 700% in the last year, followed by a modest uptick of 19% in the last month. The token is currently trading at $173, fueling hopes of breaking past the $200 price mark soon.

Solana Weekend Price Prediction

Per CoinCodex, Solana is inching towards crossing the $175 price mark. The token may notably gain a slight uptick of 0.89% by June 11–12 to trade at a price level of $174.

CC further predicts how SOL will continue to display a “to and fro” momentum until June 13, after which it can prepare for a noteworthy price hike.

“The Solana price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these Solana projections, SOL will be changing hands at $ 174.13 on June 12, 2024, gaining 0.87% in the process.”

Solana June Forecast

Solanas’s price prospects look particularly favorable for the month of June, as the token seems to be preparing for a notable price hike. Per CoinCodex, SOL can spike by nearly 15% to trade at a staggering price mark of $199.

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“According to our current Solana price prediction, the price of Solana is predicted to rise by 15.32% and reach $199.07 by July 5, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 75 (greed). Solana recorded 13/30 (43%) green days with 6.90% price volatility over the last 30 days.”