Solana’s (SOL), ecosystem has had an amazing year. It has seen a 500% increase in the last 12 months. SOL, despite its rise, failed to return to the all-time record high of $250. SOL’s price was $165.43 at the time of press, after a major drop during the day. It is important to note that SOL has seen a 7 percent increase in the past week.
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Why did the price of Solana drop?
Solana’s most recent drop was related to the Pump Fun Account sale The deal was made earlier today and is worth $6.68m. Deal made earlier in the day has caused market concern about future Solana prices. This social media site made $162 million from sales of 503,343 SOL at an average price $156.40.
Pump Fun sold more than 500,000 SOL Tokens. The platform is selling its SOL assets at a rapid pace, and traders worry that this will put pressure on SOL’s value.
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Price Forecast for 2025
CoinCodex predicted that Solana would experience extreme bullishness over the course of this year. The company stated that altcoins will exceed their all-time highest of $260. SOL’s start to the year will be relatively quiet, according to reports. In April the altcoin’s price will reach a peak of $368. SOL can trade at a maximum of $426 throughout the whole year. Most likely, this peak will be achieved in June.
SOL is expected to trade in the range of $270-$370 after this. Many bet on altcoins surging up to $500 by the end of the year. However, it appears that Solana is going to take a little longer before a boom of this size and a move above $450 occurs.
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Source: watcher.guru
