Just six days ago, Solana (SOL) hit an all-time high of $293. Since then, the price has fallen by about 21%, a correction that is normal in the volatile crypto market. However, analysts remain optimistic and predict that Solana could reach a new all-time high during 2025. A possible rate for March is $400 expected.
Trump memecoins boost Solana network
The recent hype surrounding the memecoins of US President Donald Trump and his wife Melania has caused an explosion in activity on the Solana network. The tokens, called Official Trump (TRUMP) and Melania Meme (MELANIA), are traded on the Solana platform. This has led to a sharp increase in the number of users on the network, as investors need SOL to purchase the coins.
According to analysts, this increasing demand is a major reason for Solana’s recent all-time high. It is expected that this hype will continue for the time being, especially now that Trump has officially started his new term as President of the United States.
In addition to the popularity of the memecoins, on-chain data from Arkham Intelligence shows that Trump himself has purchased Solana tokens. These transactions increase attention to the Solana ecosystem and could drive further price increases.
Technical analysis: Solana price could rise to $400
Technical analysts have identified a “wedge” pattern, which points to a possible breakout for the Solana price in the near term. A breakout is forecast at a price target of $388 to $400, which represents an upside of about 52% from current levels.
At $400, Solana’s market capitalization would be almost $200 billion. This would be approximately half of the current total value of Ethereum (ETH), underscoring Solana’s strong position in the crypto market.
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Source: https://newsbit.nl/sol-koers-waarom-solana-in-maart-richting-400-kan-stijgen/
