Experts in the field are quite optimistic about the prospects of SOL, with some suggesting it could surpass the $400 mark. One such optimist is Ryan McMillin, the investment director at Merkle Tree Capital.
He believes SOL could hit $400 by November 2024, coinciding with the U.S. presidential election. McMillin argues that meme coin trading activity will continue to drive interest and liquidity into the Solana ecosystem amid a bull market.
Meme coins built on Solana, such as Jeo Boden and Donald Tremp, have indeed helped push SOL trading volumes to new highs last week, surpassing those of Ethereum.
Secondly, high-risk assets like cryptocurrencies are expected to benefit from increased liquidity injected into the market through economic stimulus from the U.S. Treasury.
Just today on CNBC's "Fast Money" program, cryptocurrency investor Brian Kelly mentioned that SOL could soon be the next cryptocurrency to receive approval for a spot exchange-traded fund in the United States.
