Solana: How Many Years Will SOL Take To Hit $500?
Every cryptocurrency has a specific price goal that it would like to achieve. The Shiba Inu (SHIB) community hopes to reach the 1-cent mark, while Dogecoin (DOGE) has been eyeing $1. Meanwhile, $500 is a prominent Solana (SOL) market milestone.
Also Read: Shiba Inu: Will Elon Musk’s Tesla Accept SHIB?
At press time, Solana was trading at $143.38, with a daily drop of 3.84%. Considering this, the asset will need to surge by nearly 250% to reach the $500 mark. SOL is currently 44% below its all-time high of $260. While upticks of this magnitude seem unrealistic, it is worth noting that the asset rose by over 500% throughout the past year. Therefore, a potential surge to $500 by next year won’t come as a surprise.
Predictions And Factors Influencing Solana’s Price
Analyst Joji’s Prediction
Last month, an analyst named Joji revealed that Solana is on the verge of a price breakout. Joji predicted an upcoming price spike by pointing to an accumulation period in Solana’s historical pricing chart.
According to the analyst’s data, SOL surged 884% from a comparable position during the 2021 bull run, and the expert predicts that this cycle will recur. The analyst suggested that this could take place as early as this year.
Also Read: Cardano: Buying ADA Dip May Prove Lucrative In Future, Analyst Says
Solana’s Ascent To $500
Prominent prediction platform Changelly highlighted other plans for the altcoin. According to the firm, Solana will take some time to surge to $500. The asset must wait until February 2028 to rise to this high. The maximum price that Solana is expected to reach during this month over three years later is $503.94.
In addition, the possible approval of a Solana Exchange Traded Fund (ETF) could boost the process of SOL hitting $500 sooner than 2028.
Also Read: Ethereum: New Proposal Aiming to Increase Throughput 50%
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Solana: How Many Years Will SOL Take To Hit $500?
Every cryptocurrency has a specific price goal that it would like to achieve. The Shiba Inu (SHIB) community hopes to reach the 1-cent mark, while Dogecoin (DOGE) has been eyeing $1. Meanwhile, $500 is a prominent Solana (SOL) market milestone.
Also Read: Shiba Inu: Will Elon Musk’s Tesla Accept SHIB?
At press time, Solana was trading at $143.38, with a daily drop of 3.84%. Considering this, the asset will need to surge by nearly 250% to reach the $500 mark. SOL is currently 44% below its all-time high of $260. While upticks of this magnitude seem unrealistic, it is worth noting that the asset rose by over 500% throughout the past year. Therefore, a potential surge to $500 by next year won’t come as a surprise.
Predictions And Factors Influencing Solana’s Price
Analyst Joji’s Prediction
Last month, an analyst named Joji revealed that Solana is on the verge of a price breakout. Joji predicted an upcoming price spike by pointing to an accumulation period in Solana’s historical pricing chart.
According to the analyst’s data, SOL surged 884% from a comparable position during the 2021 bull run, and the expert predicts that this cycle will recur. The analyst suggested that this could take place as early as this year.
Also Read: Cardano: Buying ADA Dip May Prove Lucrative In Future, Analyst Says
Solana’s Ascent To $500
Prominent prediction platform Changelly highlighted other plans for the altcoin. According to the firm, Solana will take some time to surge to $500. The asset must wait until February 2028 to rise to this high. The maximum price that Solana is expected to reach during this month over three years later is $503.94.
In addition, the possible approval of a Solana Exchange Traded Fund (ETF) could boost the process of SOL hitting $500 sooner than 2028.
Also Read: Ethereum: New Proposal Aiming to Increase Throughput 50%
Read More