Solana performs strongly: target price increase of up to 110%

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With increasing developer interest and ecosystem activity, Solana (SOL) is expected to achieve a potential price increase of 70%-110%, becoming the market's focus.

Market Performance and Analysis

According to CoinGecko data, Solana's current price is $208.47, up 1.87% in the past 24 hours and 10.55% in the past 7 days. Notable analyst Javon Marks points out that the target price is between $360 and $457.97, reflecting significant market confidence.

Key Support: Market dynamics show Solana maintaining strength after significant retracement, demonstrating resilience and bull market potential.

Market Sentiment: With daily trading volume reaching a record 72.8 million transactions, Solana has become one of the most active blockchains, showcasing its technical advantages.

Ecosystem Advantages

Developer Preference:

Electric Capital's report indicates that among the 39,148 new developers in 2024, 7,625 chose Solana, highlighting its strong appeal.

Leading Trading Volume:

In December 2024, Solana surpassed major blockchains, processing 72.8 million transactions in a single day, demonstrating exceptional scalability and efficiency.

Ecosystem Expansion:

The popularity of memecoins and DeFi projects, along with the integration of the BIO Protocol, further drives user engagement and recognition of the Solana network.

Future Outlook

As Solana surpasses Ethereum and Bitcoin in trading volume and ecosystem growth, its potential price increase may be realized. Investors should closely monitor key price levels for opportunities to break through the $360 resistance, with a target price potentially reaching $457.97.

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