In the latest crypto investment surge, Solana’s price hit $180, jumping 65% higher since September. The network shows strong signs of catching up to Ethereum through higher trading volumes and more users. Solana’s $84 billion market value now puts it ahead of major companies like ABB, Shopify, and Rio Tinto in the global market rankings for asset value.
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Solana Price Prediction: Will It Close the Gap with Ethereum?
Network Growth and Market Dominance
Solana’s DEX trading reached $51 billion in October, significantly beating Ethereum’s $40 billion. The network now has 7.2 million active users, while Ethereum has 389,347. Lower fees and faster speeds drove this remarkable growth.
In DeFi, Solana holds $6.36 billion in locked value. Its stablecoin system manages $3.7 billion in assets. Trading platforms Raydium and Orca each handled over $1 billion in weekly trading volumes.
Meme Coins and DePIN Projects Fuel Growth
Meme coins on Solana are worth a total of $12 billion. Dogwifhat leads with a $2.2 billion market value. Daily trading reaches an impressive $3 billion.
The network also runs key infrastructure projects across the blockchain space, including Render, Helium, and Hivemapper. This shows that Solana works effectively across many different blockchain applications and use cases.
Technical Analysis Points to Further Growth
The price charts show a significant golden cross pattern in recent trading. This happened when two key price averages met on the charts. The price hasn’t dropped below $122 since April, showing strong support.
All technical indicators point to a continued rise toward $210. The strength index keeps climbing steadily. Market experts note this pattern typically signals sustained price increases in the coming period.
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Price Predictions and Market Outlook
CoinCodex sees a small rise to $178.34 by January 2025. Their analysis shows a bullish sentiment with a Fear & Greed Index of 69 and a 53% green day ratio over the past month. Price volatility remained at 8.20%, with technical indicators suggesting favorable buying conditions.
”According to our current Solana price prediction, the price of Solana is predicted to rise by 1.71% and reach $ 178.34 by January 29, 2025. Per our technical indicators, the current sentiment is Bullish while the Fear & Greed Index is showing 69 (Greed). Solana recorded 16/30 (53%) green days with 8.20% price volatility over the last 30 days. Based on the Solana forecast, it’s now a good time to buy Solana.”
Telegaon, on the other hand, expects much more substantial gains. Based on current trends, they think Solana could hit $346.67 by 2025. In favorable market conditions, it might reach as high as $414.68.
”The average price level of Solana can be around $346.67 in 2025 if the current growth continues. Solana Coin’s performance will improve by 2025 as it can become a strong contender to existing competitors like Ethereum. If the market gets bullish the maximum price of Solana could be up to $414.68 in 2025. With more investment and adoption Solana may regain its value this year. However, the minimum price of Solana can be around $305.51 in 2025 if the market turns down. If there is a bull rally in 2025, Solana may break all its previous records and touch a new record high.”
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The network keeps growing stronger with each passing month. Recent developments in DeFi and meme coins make these optimistic price targets seem increasingly achievable.
