Solana's SOL Could Hit $200 By Month End, Hedge Fund Founder Says 🤑🤑🤑💰💰

The fifth-largest cryptocurrency is benefitting from multiple catalysts, including bustling meme coin and DeFi activity, upcoming network upgrade and increasing interest in restaking arriving to the ecosystem.

Solana's SOL hit its highest price in a month Friday outperforming most crypto majors.The token is "still the best trade this cycle," and could reach $200 by the end of May, Syncracy Capital co-founder said.

SOL hit $170 on Friday, its highest price in more than a month, before slightly retreating to $166 recently.

"Strength on SOL has been incredible on this bounce," Daniel Choung, co-founder of digital asset hedge fund Syncracy Capital, said in an X post. "Very clear this is still the best trade of this cycle."

Choung said he's increasingly "confident" that SOL could retake the $200 level by the end of the month and target new record highs "soon."

SOL reached its $260 all-time high in November 2021 at the peak of the previous bull cycle.

Solana is benefitting from multiple catalysts, including bustling meme coin trading, strong stablecoin volumes and decentralized finance (DeFi) activity.

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