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Reading: Solana (SOL) Price Prediction: Could It Hit $600?
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Deythere > News > Crypto > Solana (SOL) Price Prediction: Could It Hit $600?
CryptoMarketNews

Solana (SOL) Price Prediction: Could It Hit $600?

solana rise visual
Milena Volodina
Last updated: January 19, 2025 11:48 am
By
Milena Volodina
Published January 19, 2025
3 Min Read
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The crypto market remains turbulent as trading volumes surged on Monday amid renewed excitement. However, Donald Trump’s surprise move has redirected altcoin liquidity towards the OFFICIAL TRUMP Coin, causing declines in other cryptocurrencies. But what hasn’t happened since March 2021? And how high could Solana (SOL) go?

Contents
  • Ethereum (ETH): A Diverging Path
  • Solana (SOL): Gearing Up for a Rally?
    • Conclusion

Ethereum (ETH): A Diverging Path

While Bitcoin (BTC) inches closer to record highs, Ethereum (ETH) struggles. Trump’s preference for Solana, due to its speed and low transaction costs, has intensified selling pressure on ETH. Ethereum co-founder Vitalik Buterin recently hinted at potential governance changes within the Ethereum Foundation. Despite these developments, Ethereum’s price has not benefited, as 540,000 ETH (worth $1.84 billion) was withdrawn from exchanges last month.

borsalardan ether cikisi

ETH’s weakness is reflected in the broader altcoin market. The ETHBTC trading pair has hit levels not seen since March 2021, confirming that a sustained altcoin recovery has yet to begin. A deeper dip below 0.03 BTC could spell trouble for altcoins across the board.

Solana (SOL): Gearing Up for a Rally?

For U.S.-based crypto companies, a new chapter begins next week. Solana, alongside Ripple, could see significant rallies supported by Trump’s endorsement. Solana’s primary advantages—high speed and low transaction fees—make it a preferred choice for investors. Additionally, its robust meme coin ecosystem attracts new market participants during bull runs.

ethbtc yeni dip

 

Crypto analyst Scott Melker recently highlighted that if SOL can close above $175, it could move toward $255. A sustained breakout above $255 would signal the potential for even higher highs. Some experts have previously set targets as high as $600 for SOL. To reach a $546 milestone, Solana would need to exceed a $260 billion market cap, placing it among the top three cryptocurrencies. Considering SOL’s rise from $8 to $278, this ambitious target doesn’t seem entirely unrealistic.

sol coin fiyat hedefi yeni ocak 2048x1202 1

Conclusion

The coming weeks could be pivotal for Solana (SOL) and the broader crypto market. With its innovative technology and growing ecosystem, Solana stands out as a strong contender for future growth. For more in-depth analysis and updates, follow Dey There.

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ByMilena Volodina
Milena Volodina is a blockchain strategist and cryptocurrency expert with 9 years of experience in the industry. With a background in finance and technology, Milena has worked on numerous blockchain projects, including the development of decentralized finance (DeFi) platforms and blockchain-based financial services. Her expertise in both the technical and financial aspects of blockchain technology allows her to provide a comprehensive view of the industry. At DT NEWS, Milena offers readers expert analysis and insights into the latest trends and innovations in the blockchain and cryptocurrency world, ensuring they stay informed about key developments.
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