One of the coins that has given me the most surprises in 2023 has been Solana, breaking all my expectations at the end of the year. I honestly did not believe that it would reach $100 in price again after the desolation and depreciation it had in the last tragic bear market. In this post I want to make a price prediction for Solana and how far it can go in 2024. A simple prediction, do not take this as a mass or a sentence. Do not guide your operations based on this article.
Solana currently holds the fifth position in capitalization according to CMC. It has more than 568 million Total Supply and we cannot forget that the supply of Solana tokens is infinite. Something that we sometimes ignore and overlook but it is really important.
Until well into the halving, the Solana coin will experience sideways dynamics, with few surprises. Surely some more aggressive correction while we reach the most relevant event of the year for Bitcoin that takes it to $85-80. It's not crazy.
With the increasing usage of their network and new projects hosted on the Solana network, I expect nothing but upward movements for the currency. In Summer, it will be moving between $105 and $130 without much difficulty and if Bitcoin manages to face the Halving without manipulation involved, there is a small possibility that it will approach $200. Due to supply and demand, you can do it of course. The great barrier will be the vulnerabilities that Solana still has to overcome and eliminate to achieve the trust and reliability it needs.
One of them is network speed. It is still far from what it promised and can offer. If Velas VLX had half the demand that Solana has, it would have long since been ousted.
For 2024, analyzing the current situation and with a slightly pessimistic future projection, Solana will end the year between 120 and 150 dollars. Don't forget to base your trading and investment plan on more fundamentals and professional technical analysis. This is a simple prediction. DYOR.
