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Solana Price Prediction 2022:  Bulls to drive SOL Price to new Highs? 

Solana

Published May 22, 2022

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Discussions around the Tech space, Digital assets or currencies, and investments are interesting, popular topics on social media platforms as many traders and investors made unimaginable profits from buying digital assets like Solana. Many have seen their SOL investment go up as much as 9000% without even compounding their positions or applying any form of leverage.

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However, the recent price decline across the cryptocurrency market brings concerns to SOL holders and some trader friends have asked me for my opinion on the current state of the market and what the future holds for the SOL token from this year into next year.

Should we expect a swift recovery from the current price plunge or a prolonged crypto winter? This has been a major concern for crypto investors and so in this post, I’ll dive into a deep analysis of the Solana crypto ecosystem highlighting the likely Solana price predictions and price zones. Before going into full details about Solana, let’s start with a history of the coin. 

Solana History: The Inception Story

How great or sustainable a token will be in the nearest future can be traced to its history. The dips it has been through, recovered from, and not forgetting massive price pumps. Solana is the first Cryptocurrency to operate on a decentralized system of Blockchain using “Proof of History”. It’s with the help of proof of history that Solana achieves its consensus. Also, the proof of history was used to help get rid of any issues relating to scalability. 

Solana was founded by Anatoly Yakovenko in 2017. According to Forbes, the price of Solana skyrocketed by 15,300% and rose to a value of $248.01 per token this year. This Pump made the token the center of attraction to a lot of investors and they invested their money in it. 

Market Size, Idea Validation, the future of Solana 

Despite the number of Cryptocurrency in the Cryptocurrency market, new digital assets are being created and they enter the market to fill the void that other tokens hasn’t filled. Solana belongs to a third-generation decentralized system that uses proof of history and proof of stake to execute about 50000 transactions per second. 

According to research, the market capitalization of Solana is around $15,008,918,047.04 while the fully diluted market capitalization is around $22,790,967,079.35. This shows that there is enough Solana token in circulation. 

Fundamental Analysis 

For the project to be funded appropriately, the founders divided it into five funding rounds. 4 of the rounds were made available to private investors. This strategy brought in about $20 million. Some of the investors include Multicoin capital, Rockaway Ventures, NEO global capital, etc, who were given Solana in exchange for their investments. In 2020, the founders made another auction sale for the 5th round in the initial division which brought in about $4 million. Solana token was distributed as follows: 15.86% to Seed Round investors, 2.63 to Founding Sale investors, 5.07% to Validator Sale investors, 1.84% to Strategic Sale investors, 1.6% to Public Auction Sale investors, and 12.5% to team members, 12.5% to the Solana Foundation, and 38% to the Community reserve fund. 

SOLANA Price Prediction 2022 

SOL2022

Solana’s high transaction speed and scaling solution attracted institutional investors to the network, consequently leading to a parabolic surge of about 9000% starting from 10 August ’20. 

The recent bearish volatility of digital currencies puts the fear of being wrong in the mind of SOL traders. Hopefully, your mind will be at rest after this analysis, as I give you a long-term projection of the SOLUSDT. The annotated monthly chart of the SOLUSDT reveals a breakdown of the bullish hidden inside-bar support ($180.93) on December ’21 after an eleven-month price hike of about +25000%. The current correction wave brings the SOL price into the previous Inside/Outside bar chart pattern price zone ($44.20 and $22.10) which could serve as a springboard for a price hike. With the present speculation, it’s predicted that Solana will be worth $150 at the end of 2022 with its lowest price at $20.42. 

SOL Price Prediction 2023 

After going through a crypto winter in the current year, the SOL price is expected to recover from its oversold state in 2023, exiting the RSI level-25 on the monthly time frame, and trades within the $25.06 (1.272 Fib-level) and $177.84 (1.618 Fib-level) price range.

SOL Price Prediction for the Next 5 Years 

Solana’s ecosystem would have gone through multiple iterations and fully tested for robustness in five years. By then the SOL price is predicted to hover between the $717.65 (1.618 Fib-level) and $3348.39 (2.0 Fib-level).

Coingape Experts Analysis :

The SOL coin continued to set consecutive highs and lows with mild correction phases from its inception. However, we have identified a couple of competitors of the SOL project and Ethereum ETH happens to be a pacesetter. Although both tokens are used for digital transactions, there are some major differences between them, which are as follows:

Ethereum has higher gas fees compared to Solana. However, that could change if the developers successfully complete the migration to ETH 2.0.

Recent downtimes experienced by Solana also bring high criticism towards the crypto asset.

As stated in their whitepaper, Solana claimed to have a throughput of up to 710K transactions per second, following an analysis of the protocol on a 1gbps network, compared to a throughput of about 15 transactions per second for Ethereum.

Years Max high  min low
2022 projection $150 $20.42
2023 projection $717.65 $59.30
2027 projection $3348.39 $717.65

 

Market Predictions for the Token 

There have been many predictions about the Solana token. However, the token is one with a great prospect and is highly recommended for investors. It’s expected to exceed the $600 mark in 2026.Below are the views, and projections of top crypto coin websites in the industry, starting with DigitalcoinPrice Prediction.

DigitalCoinPrice Prediction

DigitalCoinPrice

Our friends at DigitalCoinPrice (DCP), forecast the SOL price to close below the $73.30 price level, to later reach a minimum price of $66.62 by the end of 2022. The maximum price level predicted by DigitalCoinprice is $74.46 at the end of the year.

Again, following a month-month view, the DCP data analysts predict a crossing of the $76.37 level and are expected to hit a minimum low of $71.58 and a maximum price of $88.50 at the end of 2023. Peeking further into the future, the DCP expects a crossing of $127.86 in 2027 with a minimum price of $106.10 and a maximum price of $143.58.

Wallet Investor Predictions

WalletInvestorWalletInvestor

According to the prediction and Analytics Company, WalletInvestor (WI), the SOL price is projected to earn a $100 investor a 984.7% profit by the end of 2027 upon buying at an entry price of $54.677 in 2022.The WI forecast an optimistic long-term rise of the SOL price to attain the $593.081 target by the end of 2027-05-15, bringing a willing investors’ $100 profit to $1084.70 in 2027.

CoinArbitrageBot Experts Prediction

Following the SOLUSDT historical price charts, expert analysts at CoinArbitragebot project the SOL price could trade at $91.5348 by year-end (2022), and $148.103 at the end of 2023. They also predict the lowest price of Solana to be at $25.2808 and the highest price of $5535.833 by 2025 and a closing price of $387.723.

Longforecast Prediction

The LongForecast (LF) analysts estimate a -50% price change for the SOL token where the maximum price would have traded at $95.20 and the minimum price at $36.0. Furthermore, the LF analytics predicts lower prices for the SOL coin at the end of the year, trading at a maximum price of $36.1, and a minimum price of $31.30. 

Although the average price for May 2023 is $42.4, the SOL price is projected to hit a maximum price of $129.0 and a minimum price of $104.0 by June 2024.

 

FAQ

Q: Where Can I get the best ASK price for Solana? 

You can buy Solana on platforms such as Binance, gate.io, Huobi, etc. 

Q: What Is Solana Used For? 

You can use Solana for Staking and paying transaction fees on the network. 

Q: Which Wallets Support Solana? 

You can store or exchange Solana on the following wallets:Trust wallet, phantom wallet, collet wallet, so long, solflare, moonlet wallet, etc.

Q: Is Solana a profitable coin to invest in? 

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Solana is a top ten cryptocurrency by market capitalization and it has maintained this position since 2021. With that said, and the analysis we’ve presented overhead, we believe that Solana’s SOL token should be among the top five coins in your portfolio.

 

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With 3 years+ of experience in the digital marketing industry, awarded as best Keyword Strategist for 2021. My strength is to grow the website organically with strong roots in SEO, Content Marketing, Content Strategist, Social Media Marketing, and Community Engagement.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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