Solana's Future: Will SOL Hit $259 by 2024?

• Solana (SOL): A Year of Remarkable Performance Despite Recent Corrections
• Solana's Potential to Reach Its All-Time High
• Past Lows and Future Predictions for Solana (SOL)
• Predictions for Solana (SOL) in 2024 and Beyond
• Additional Forecast for Solana (SOL)

Solana (SOL): A Year of Remarkable Performance Despite Recent Corrections

In 2023, Solana$104 5.03% (SOL) distinguished itself as one of the most impressive performers, registering approximately 1000% growth. Yet, over the past 24 hours, this popular digital currency has been hit with a significant correction. SOL's price has dropped to somewhere around $100, representing a decrease of 8.5% in 24 hours and 4.3% over the week. However, the token's monthly charts still show an impressive increase of over 67%, and it has grown by over 600% since January 2023.

Solana's Potential to Reach Its All-Time High

The exceptional performance of SOL in 2023 sparked speculation that the cryptocurrency might soon surpass its all-time high of $259.96, achieved in November 2021. However, recent corrections and potential concerns about the SEC rejecting a spot Bitcoin$42,260 -0.64% (BTC) ETF (Exchange Traded Fund) have caused some rethink in investment targets.

Past Lows and Future Predictions for Solana (SOL)

During November 2022, SOL's price experienced a significant hit following the collapse of FTX$3.28 -5.38%, a now-defunct exchange that held over $1 billion worth of the token. This event marked the beginning of a downward spiral for SOL's value. Despite these challenges, SOL staged a remarkable recovery in 2023, reviving the hope of surpassing its previous all-time high of $259.96.

Predictions for Solana (SOL) in 2024 and Beyond

Projections by Changelly suggest that Solana (SOL) could reach a peak price of $184.6 by December 2024. The platform also anticipates SOL to break the $250 mark sometime in December 2025, almost two years in the future. Furthermore, it predicts that SOL will achieve a new all-time high by May 2026, about two and a half years from now.

Additional Forecast for Solana (SOL)

Similarly, Telegaon's projections for SOL align with those of Changelly. The platform predicts a maximum price of $165.16 for SOL in 2024, although it does not specify a timeframe for this projection. Like Changelly, Telegaon expects SOL to reach a new all-time high at some point in 2026.

Edited by Jonathan Stoker