Crypto Analyst Javon Marks provided insights into the future trajectory of Solana (SOL) after achieving a 1,100% return. It is known that the analyst correctly classified the crypto token’s previous high, which is one of the reasons why his latest prediction is worth keeping an eye on.
Solana could reach $453
Brands mentioned in an X (formerly Twitter) publish that despite its recent pullback, Solana price may be preparing for another price rally. He noted that a move of more than 54% may already be underway and that such a price movement could make room for another increase of more than 93%, which would take Solana to $453.
Related Reading: Cardano Poised for 15x Move, Crypto Analyst Reveals Key Drivers
Source: X
Brands foreseen Last year, Solana would rise above $200, which it ended up doing this year, reaching a YTD (YTD) high of $202. While the crypto token has fallen significantly from this 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 viable considering crypto analysts like Altcoin Sherpa foreseen that the crypto token could rise above $500 by the end of the year. Crypto analyst Hansolar also foreseen that Solana could rise to $600 this market cycle. Meanwhile, Crypto YouTuber Jake Gagain predicted that Solana will rise to $750, although he mentioned that this will likely happen in 2025.
SOL Could Become Third Largest Crypto Token
Solana’s rise to as high as $500 could see the crypto token become the third-largest crypto asset by market cap, behind only Bitcoin and Ethereum. This is possible as a rise to $500 is almost double Solana’s current ATH. Crypto analyst Chris O also previously predicted that this would likely happen as he predicted that Solana and ADA would fight for the position.
About that, asset manager Franklin Templeton also seemed confident in Solana’s potential to become the third-largest cryptocurrency. In a recent analysis, the asset manager highlighted the factors that could lead to this evolution. One of them is Solana’s technology, which they think will be perfect for the industries that will drive the next wave of crypto adoption.
Related Reading
Franklin Templeton also alluded to upcoming airdrops in the Solana Network, which could bring more liquidity to the ecosystem and possibly cause an increase in the price of Solana, just like when the Jito and Pyth airdrops occurred. The asset manager also noted that meme coin activity on the network is not slowing down, which could contribute to Solana’s rise and become the third largest cryptocurrency.
Solana has become the leading meme coin trading network, which has led to an influx of new investors into the ecosystem. Therefore, a sustained network expansion will likely reflect positively on Solana’s price sooner or later.
At the time of writing, Solana is trading at around $144, an increase in the last 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