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Solana Price Predictions: How High Can ‘Ignition’ Event Push the Red-Hot SOL Crypto?

It was only eight months ago that a crypto investor could hop on an exchange like FTX and buy Solana (CCC:SOL-USD) for about $2.50. Now, a single SOL coin is going to run you over $125. The crypto has surged to incredible heights, unlocking a wealth of capital that has allowed it to break into the top 10 largest cryptocurrencies. And today, as developers tease a new ‘Ignition’ event on social media, investors are clamoring for Solana price predictions.

Concept art of the Solana (SOL) blockchain.
Source: Shutterstock

Just last week, Solana made a cryptic tweet, which has set speculation aflame. The post included a video teaser for an event the network is dubbing ‘Ignition.’

Speculations over the meaning of the video range from a token burn to a grant program for developers, but investors are as in the dark as anybody else right now. All we know is that the big reveal is coming today, Aug. 31.

And ahead of the big day, investors are flocking to exchanges to add SOL to their wallets. Solana’s trading volume is up nearly 190% over the last 24 hours; meanwhile, the influx of buying and the bullish speculation are allowing SOL values to rocket. The coin is gaining a whopping 26% this morning, reaching an all-time high of $130.

Solana Price Predictions Heat Up Ahead of Ignition

This news is driving investors crazy, but the whole of 2021 has been monolithic for Solana. Its growth through the last handful of months is nearly untouchable, and it has been able to actually keep its gains rather than slipping back down. Solana price predictions have been highly sought-after before, but now they’re exploding with popularity. Let’s take a look to see how analysts picture Solana’s future:

  • CoinPriceForecast suggests Solana is only getting started with gains. By the end of the year, the outlet says Solana will reach a price of $244.
  • The Economy Forecast Agency’s prediction is one of the most optimistic of the bunch. The outlet suggests that by the end of 2021, SOL will be worth an impressive high of $335.
  • WalletInvestor is bullish but far less so than CoinPriceForecast. The outlet is placing its one-year prediction, ending August 2022, at a price of $168.
  • Gov Capital’s one-year prediction is slightly more bullish, pricing SOL’s August 2022 price in at $214.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2021/08/solana-price-predictions-how-high-can-ignition-event-push-the-red-hot-sol-crypto/.

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