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The cryptocurrency market is facing strong headwinds today, with Solana also being affected. The cryptocurrency SOL has seen a decline of over 15% today. After climbing to the fourth position in market value, Solana experienced a pullback following its recent gains. Advanced artificial intelligence price prediction algorithms forecast that Solana will achieve further gains towards the end of the year.
Artificial Intelligence Gives This Price for Solana
Based on projections that consider historical SOL trends, technical analysis (TA) indicators, and various chart formations, Solana could reach a price of $354.78 by December 31, 2024. This represents an increase of 104.47% from its current state.
GPT-4 predicts Solana’s 2024 price targets to be between $200 and $300. However, this forecast is based on factors such as positive market trends, technological advancements in the Solana network, and wider adoption of the cryptocurrency.
Anthropic’s latest artificial intelligence model, Claude 3 Opus, predicts that SOL could reach a price between $250 and $400 by the end of 2024. This forecast assumes that the general crypto market will continue its upward trend and that Solana will continue to gain adoption and partnerships.
What is Solana’s Price Today?
Today, Solana, a notable name among cryptocurrencies, has suffered a decline. At the time of writing, Solana is trading at $177.73, experiencing a 15% drop in the last 24 hours. However, it managed to secure a weekly gain of 15.31% and increased in value by 55.57% over the last 30 days.
These latest figures indicate growing interest in Solana. According to Google Trends data, the term ‘Solana’ has reached an all-time high score of 100, seeing the highest search interest in the past five years.
Intermittent Disruptions Experienced
However, the recent price drop can be associated not only with the general market downturn but also with significant congestion in the Solana network. The increased interest has resulted in significant impacts on the network’s transaction processing.
In the past, the Solana ecosystem has faced disruptions and transaction failures, causing concerns among users and developers. This has led to questions about the network’s reliability and has become a factor that could negatively affect SOL’s price. Nevertheless, despite everything, Solana still possesses potential for recovery.
