Solana (SOL) has undoubtedly been a top performer this year. The asset has surged by over 300% over the past 12 months. This further highlights the bullish zeal around the market. The asset surged all the way to a new high of $263.83. While several suggest that SOL could surge to a high of $300, the asset seems to be taking quite some time.
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Looking Into Solana’s Spike
Solana is currently trading 10% below its all-time high. At press time, the altcoin was trading at $236 with a 1.19% rise over the past 24 hours. During a week when the overall altcoin market gained 12%, SOL remained stable with a small 1% increase. This further indicated regulated price action rather than speculative activity.
In 2024, Solana proved that its cutting-edge technology, expanding user base, and exceptional market performance allowed it to contend at the more elevated tiers. But, it will need to keep innovating and fortifying its ecosystem if it wants to hold onto its position and steer the next cryptocurrency bull.
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Is $300 Possible in December?
The Solana market has been expecting to witness a rise sooner rather than later. While $300 is still at a distance from the asset’s current price, the community does have something to look forward to. According to data from CoinCodex, SOL is expected to witness a 1.07% rise from its current price level. Solana will likely be priced at $238. This comes after a much significant rise of $239 which marks a 1.51% spike.
Despite the growth of its rivals like the Ethereum (ETH) network, Avalance (AVAX) and others. But the Solana network has been solid and performing well making it a promising investment opportunity in the cryptocurrency market.
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