Solana (SOL) marked the end of 2023 and the first quarter of 2024 with significant activity, both for itself and meme tokens. The network’s native token, SOL, experienced an incredible rise from the lows of 2023 to $200 in the first quarter of 2024. Despite a recent significant price drop, year-to-date (YTD) analysis shows a gain of 37.28%. On June 27, Solana’s price was trading at $139.07 early in the day, but things changed slightly afterward.
Solana Comments
SOL and the network itself are experiencing a highly active period. Thousands of projects have been created and continue to be created on SOL, which has dominated the market, especially in the meme coin sector. However, there are still questions about the network and its native token.
In the last 30 days, SOL was in the positive zone for only 12 days, and the announcement of a potential legal process in the coming periods has added more uncertainty.
On June 27, data showed a 90% drop in the volume of the USDC stablecoin on the Solana network. This kind of drop has sparked many rumors in the market, suggesting that the previous volume might have been artificial.
Despite this, an incredible event occurred recently. Following an ETF application in Canada, news emerged about an application for a Solana ETF by VanEck, causing SOL to rise above the $150 mark, although it later pulled back slightly.
How Much Will Solana Be Worth?
Given today’s events, SOL’s noticeable rise is reflected in the charts, but the AI prediction for July 1 also holds significant weight in the market. Machine learning and AI algorithms used by PricePredictions made a forecast on this matter.
According to the AI algorithms used by the platform, Solana’s price is expected to maintain its current outlook until July 1, when it is predicted to reach $155.49. This price is 6% higher than SOL’s current price.
As of the time of writing, Solana continues to find buyers at $148, following a 9% rise in the last 24 hours.
