2024

Solana

Trillion

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 <p class="paragraph">As the larger part of the cryptocurrency sector is witnessing the struggle between bears and bulls, Solana (SOL) is no exception, with bulls seemingly in the lead for the fifth-largest digital asset by market capitalization and artificial intelligence (AI) algorithms retaining optimism.</p>
 <p class="paragraph">Indeed, Solana has moved in the red for the past few weeks but has nonetheless managed to sustain a steady advance since the year’s turn thanks to the surge in blockchain projects on its platform and despite the (now resolved) network issues like congestion.</p>
 <h2 class="wp-block-heading" id="h-solana-price-prediction">Solana price prediction</h2>
 <p class="paragraph">In such a context, advanced algorithms used by crypto monitoring platform <em>PricePredictions</em> have remained moderately optimistic, projecting that Solana would reach the price target of $147.11 by May 31, 2024, as per the most recent data on May 3.</p>
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 <figure class="wp-block-image size-full"><img decoding="async" width="876" height="618" src="https://cdn.thebittimes.com/images/2024/05/03/02984a98969f48b82c2af75460e11957.webp" alt="Solana price prediction 30-day chart. Source: PricePredictions" class="wp-image-173644" srcset="https://cdn.thebittimes.com/images/2024/05/03/02984a98969f48b82c2af75460e11957.webp 876w, https://cdn.thebittimes.com/images/2024/05/03/02984a98969f48b82c2af75460e11957.webp 300w, https://cdn.thebittimes.com/images/2024/05/03/02984a98969f48b82c2af75460e11957.webp 768w" sizes="(max-width: 876px) 100vw, 876px">
  <figcaption class="wp-element-caption"><em>Solana <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> prediction 30-day chart. Source: </em><em>PricePredictions</em>
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 <p class="paragraph">As it happens, such a positive predicted change would represent a gain of 3.7% to Solana’s current <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>, provided that the projections, based on technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> (TA) indicators such as moving average divergence convergence (MACD), relative strength index (RSI), and others, are correct.</p>
 <h2 class="wp-block-heading" id="h-solana-price-analysis">Solana price analysis</h2>
 <p class="paragraph">For now, Solana is changing hands at $141.92, gaining 3.73% on its daily chart, as it moves to reverse the 3.21% loss from across the previous week, and the accumulated decline of 24.40% in the past month, according to the most recent <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> data on May 3.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="750" height="496" src="https://cdn.thebittimes.com/images/2024/05/03/255a64aab97da5f7082a849524a1a594.webp" alt="Solana price 24-hour chart. Source: Finbold" class="wp-image-173646" srcset="https://cdn.thebittimes.com/images/2024/05/03/255a64aab97da5f7082a849524a1a594.webp 750w, https://cdn.thebittimes.com/images/2024/05/03/255a64aab97da5f7082a849524a1a594.webp 300w" sizes="(max-width: 750px) 100vw, 750px">
  <figcaption class="wp-element-caption"><em>Solana price 24-hour chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">Meanwhile, crypto analyst Jacob ‘Crypto’ Bury has recently predicted that Solana could rise three to four times in 2024, particularly as at the time it had a 2.8% dominance in the overall crypto market valued at $2.16 trillion, according to the analysis he shared in an X post on May 2.</p>
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Here is why $SOL could be headed for another 3-4X at least from these <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>s – remember #solana has already indeed done a 6X (or more, depending on entry) from the lull of 2023.$SOLANA currently has 2.8% dominance of the overall crypto markets that are valued at $2.16T<br><br>Even if… pic.twitter.com/KJ8NoOLEBw</p>— Jacob Crypto Bury (@BuryCrypto) May 2, 2024
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 <p class="paragraph">It is also worth mentioning that one of the factors that could impact the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of SOL is the activity of its largest holders, a.k.a whales, which have recently carried out a couple of massive transfers within hours of each other, involving a total of 22 million SOL tokens, as Finbold reported on April 28.</p>
 <p class="paragraph">Ultimately, the asset might continue to improve its price toward the target set by the AI algorithms but, at the end of the day, making a definite Solana price prediction is difficult, particularly as things in this industry can sometimes change on a whim, so doing one’s own due diligence is adamant.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ai-sets-solana-price-for-may-31-2024-tbt87351.html">https://thebittimes.com/ai-sets-solana-price-for-may-31-2024-tbt87351.html</a></p>

AI sets Solana price for May 31, 2024

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