Solana

when

Dogecoin

Shiba Inu

Coin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/challenges-for-solana-as-it-lags-behind-in-recent-crypto-surge">Challenges for Solana as It Lags Behind in Recent Crypto Surge</a><br></p>
<p style="text-align: justify">Despite a general uptick in the cryptocurrency market, <a href="https://en.bitcoinhaber.net/solanas-stablecoin-surge-a-new-record-in-transfer-volume">Solana</a> (SOL) appears to be lagging in its price performance when compared to its historical achievements. Although SOL has seen an increase, reaching over $130, it remains below expectations based on its past correlation with Bitcoin’s (BTC) price surges, including the recent rally where BTC reached $64,000.</p> 
<h2 id="comparing-gains-with-peers">Comparing Gains with Peers</h2> 
<p style="text-align: justify">Solana’s climb to a 23-month high, displaying a substantial 34.5% weekly growth, still fell short when viewed against other cryptocurrencies like Ethereum (ETH) and <a href="https://en.bitcoinhaber.net/tron-network-gains-spotlight-with-surging-revenue-and-strategic-moves">Tron</a> (<a href="https://en.bitcoinhaber.net/stablecoin-market-dynamics-ethereum-slips-while-tron-surges">TRX</a>), which recorded significantly higher gains. Ethereum, for instance, boasted a 25% increase, while Tron surged by 31.5%, outpacing Solana’s modest 2% rise since February 23.</p> 
<p style="text-align: justify">The Solana ecosystem has witnessed activity, but the corresponding price gains are relatively subdued. Other altcoins like Bonk (BONK) and DogWifHat (WIF) have seen impressive rallies of 110% and 250% respectively since late February. Similarly, meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) have jumped by 50% during the same timeframe.</p> 
<h2 id="forecast-and-growth-potential-for-sol">Forecast and Growth Potential for SOL</h2> 
<p style="text-align: justify">Despite underwhelming performance in recent months, SOL Coin appears to possess untapped growth potential. The network’s total value locked has surged to $2.5 billion from just $1 billion a few months prior, suggesting room for further expansion, especially considering the network’s historical peak of $10 billion during a previous bull market.</p> 
<p style="text-align: justify">SOL’s price recovery indicates a possible extension of its rally, with market watchers eyeing significant resistance levels. A consistent close above $125 could potentially transform the $138 resistance into a new support zone, setting the stage for SOL to target higher psychological resistance levels at $158, $175, and the coveted $200 mark, provided it can overcome the $138 and $143 barriers that previously capped its price.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/challenges-for-solana-as-it-lags-behind-in-recent-crypto-surge">Challenges for Solana as It Lags Behind in Recent Crypto Surge</a></h5>

Challenges for Solana as It Lags Behind in Recent Crypto Surge

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