Solana: Why Analysts Expect SOL to Reach $270 in 2024
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With few assets boasting as much potential this year as Solana, analysts have begun to project SOL to reach a new all-time mark of $270 in 2024. Indeed, there is an increasing number of traders who have started to bet on the asset’s trajectory as we head into the second half of the year.
Currently, Solana is trading below $165 and has been falling over the last seven days, according to CoinMarketCap. However, there is a growing sentiment that this may be the best time to buy SOL. The summer months could have a massive surge in store for the asset.
Throughout the last month, Solana has performed well. Indeed, it had noted a 30% increase over the last 30 days but was not able to surpass the $200 psychological level.
This reality disheartened quite a few investors and represented a stark decline from its performance in March.
The Solana network became one of the year’s most important stories in March, when it was the face of the meme coin craze.
Newcomers like Dogwifhat (WIF) and Book of Meme (BOME) were based in Solana and surged in value. But now, all eyes are on Solana’s (SOL) potential to surge to the $270 level in 2024.
That certainly isn’t out of the question to many crypto traders. One such participant took to X (formerly Twitter) to note that the asset is “still cheap” amid the currently all-time high target.
Moreover, they noted that, from a spot perspective, there are few better investments.
