Crypto analyst Javon Marks provided insights into the future trajectory of Solana (SOL) after reaching a return of 1,100%.. The analyst is known to have correctly called the crypto token’s previous high, which is why it is worth keeping an eye on his latest prediction.
Solana could rise to $453
Brands mentioned in an X (formerly Twitter) send that despite the recent pullback, Solana price may be preparing for another price hike. He noted that a move of more than 54% could already be in the works and that such a price move could open room for another increase of more than 93%, which would send Solana to $453.
Related Reading: Cardano Ready for 15x Move, Crypto Analyst Reveals Key Drivers
Source: X
Signs expected last year Solana would have surpassed $200, which it finally did this year, reaching a year-to-date (YTD) high of $202. Although the crypto token has fallen significantly from that price level, Marks’ recent prediction confirms that Solana’s run is not over yet and will still surpass its current all-time high (ATH) of $260.
Solana rising to $453 seems more feasible considering crypto analysts like Altcoin Sherpa have done so expected that the crypto token could surpass $500 by the end of the year. Also crypto analyst Hansolar expected that Solana could rise to $600 in this market cycle. Meanwhile, cryptocurrency YouTuber Jake Gagain predicted Solana will rise to $750, although he said that will likely happen in 2025.
SOL could become the third largest crypto token
Solana’s rise to $500 could lead to the crypto token becoming the third largest crypto asset by market capitalization, only behind Bitcoin and Ethereum. This is possible, as an increase to $500 is almost double Solana’s current ATH. Crypto analyst Chris O previously expected that this would likely happen as he predicted that Solana and ADA would fight for the position.
In the meantime, asset manager Franklin Templeton he also seemed confident in Solana’s potential to become the third largest cryptocurrency. In a recent analyses, the asset manager highlighted the factors that could lead to this development. One is Solana’s technology, which they believe will be perfect for the industries that will drive the next wave of cryptocurrency adoption.
Franklin Templeton also alluded to upcoming airdrops on the Solana network, which could bring more liquidity into the ecosystem and possibly cause Solana’s price to rise, just like when the Jito and Pyth launches occurred. The asset manager also noticed this meme coin activity on the network is not slowing down, which could contribute to Solana’s rise to become the third largest cryptocurrency.
Solana has become the leading network for trading meme coins, which has led to an influx of new investors into the ecosystem. Therefore, sooner or later a sustained expansion of the network will likely reflect positively on the price of Solana.
At the time of writing, Solana is trading at around $144, up over the past 24 hours, according to data from CoinMarketCap.
SOL price at $144 | Source: SOLUSD on Tradingview.com
Featured image from DL News, chart from Tradingview.com
