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Cryptocurrency analyst Javon Marks offers valuable insights into Solana’s (SOL) upcoming direction following its remarkable 1,100% surge. With a track record of accurately predicting the token’s previous peak, Marks’ latest forecast holds significant importance for investors to monitor.
SOL’s potential surge to $500 could position it as the third-largest cryptocurrency by market capitalization, trailing only Bitcoin and Ethereum. This scenario is plausible given that a rise to $500 would nearly double Solana’s current all-time high (ATH). Crypto analyst Chris O previously suggested that Solana and ADA would vie for this ranking.
Meanwhile, asset manager Franklin Templeton expressed confidence in Solana’s ability to secure the third-largest cryptocurrency spot. In a recent analysis, the firm outlined several factors contributing to this projection. One key factor is Solana’s technology, which they believe is well-suited for the sectors expected to drive the next wave of cryptocurrency adoption.
Solana’s potential ascent to $453
Was discussed by Marks in a recent X (formerly Twitter) post. Despite experiencing a recent pullback, Marks believes that Solana’s price could be gearing up for another rally. He pointed out that a surge of over 54% may already be underway, potentially paving the way for a further increase of approximately 93%, pushing Solana to $453.
Marks foresaw last year that Solana would surpass $200, a milestone achieved this year with a peak at a year-to-date (YTD) high of $202. Despite a significant drop from this level, Marks’ recent forecast suggests that Solana’s upward momentum is far from over, and it is poised to exceed its current all-time high (ATH) of $260.
The possibility of Solana reaching $453 seems more plausible, especially considering predictions from other crypto analysts. Altcoin Sherpa has forecasted that Solana could surpass $500 by the end of the year. Similarly, Hansolar anticipates a climb to $600 during this market cycle. Additionally, Crypto YouTuber Jake Gagain has predicted a rise to $750, albeit likely in 2025.
SOL May Secure Third Place Among Cryptocurrencies
SOL’s potential surge to $500 could position it as the third-largest cryptocurrency by market capitalization, trailing only Bitcoin and Ethereum. This scenario is plausible given that a rise to $500 would nearly double Solana’s current all-time high (ATH). Crypto analyst Chris O previously suggested that Solana and ADA would vie for this ranking.
Meanwhile, asset manager Franklin Templeton expressed confidence in Solana’s ability to secure the third-largest cryptocurrency spot. In a recent analysis, the firm outlined several factors contributing to this projection. One key factor is Solana’s technology, which they believe is well-suited for the sectors expected to drive the next wave of cryptocurrency adoption.
Franklin Templeton hinted at the forthcoming airdrops on the Solana network, potentially boosting liquidity and triggering a price surge, akin to previous instances with Jito and Pyth. Additionally, the asset manager highlighted the continued meme coin activity on the network, a factor that could propel Solana towards becoming the third-largest cryptocurrency.
Solana’s dominance as the go-to platform for meme coin trading has attracted a wave of fresh investors, indicating potential positive price movements in the near future. As of the latest update, Solana is priced at approximately $144, exhibiting an uptrend over the past 24 hours based on CoinMarketCap data.