Solana price has been bullish on the daily timeframe with a 2% increase over the last 24 hours. It is currently trading around $222, as the cryptocurrency market gears up for another potential bull run, many investors are turning their attention to Solana (SOL).
The analyst behind the Kelvin Finance channel on YouTube predicted Solana’s future price based on historical trends and recent developments.
Kelvin describes Solana as a prominent player in the crypto space, particularly noted for its appeal among meme coin enthusiasts and decentralized finance (DeFi) investors. He likens Solana’s role to that of a “grand casino,” where individuals park their funds to engage in various activities, from trading memes to participating in DeFi projects. This vibrant ecosystem is a significant factor behind Solana’s recent growth.
Solana’s Historical and Future Price Action
Drawing parallels to Ethereum’s past performance, he suggests that Solana’s price is currently lagging, much like Ethereum did four years ago.
He recalls how Ethereum price experienced substantial gains following Bitcoin’s peak, noting that Solana also had its moments, with an initial peak at $40 and a subsequent rise to around $236. This historical context sets the stage for potential future price increases, contingent on market dynamics.
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2023-2024 Meme Coin Effect on SOL
The influence of meme coins has been particularly pronounced in 2023 and early 2024, providing a significant boost to Solana’s price.
He pointed out that Solana briefly soared to $260, although it faced a correction shortly thereafter. This volatility shows the impact of speculative trading within the meme coin market on Solana’s overall valuation.
SOL 2025 Price Predictions
Looking ahead, the analyst offers a detailed price prediction for Solana, drawing from Ethereum’s previous market cap performance. He noted that Ethereum reached a market cap of approximately $550 billion during its last bull run, while Solana’s price currently trades around $218 with a market cap of $104 billion.
By applying a multiplier derived from this comparison, he predicts a potential price target of $1,152 for Solana.
The analyst mentioned that during the last bull run, Bitcoin was expected to reach $100,000 but only peaked at $60,000. For Solana, he suggests that if the consensus leans toward a $1,000 price point, a more prudent target might be around $600.
