Solana Predicted to Hit $200 Within Month: Analysis
CryptoNewsTerminal Staff17 May, 2024
Solana Predicted to Hit $200 Within Month: Analysis
Solana (SOL) is predicted to reach $200 by the end of the month, according to an analysis by Daniel Choung, co-founder of digital asset hedge fund Syncracy Capital. Choung's analysis suggests that Solana is well-positioned to continue its upward trend due to its strong performance in meme coins, stablecoin trading volumes, and DeFi activities. "Solana is well-positioned from everything [meme coins, stablecoin trading volumes, and DeFi activities] to continue moving higher. Once it reclaims the $200 level by the end of the month, I think it can very quickly make new all-time highs," Choung said. Currently, SOL is trading at $168.62, up 6.02% in the last 24 hours, according to CoinMarketCap. If SOL reaches $200 by the end of the month, it would represent a significant gain for investors.
