The crypto market over the last handful of weeks has been extremely kind to altcoins. Smaller crypto plays with dealings in the non-fungible token (NFT) and decentralized finance (DeFi) spaces are seeing incredible upward booms, and each day is bringing a new winner boasting high-percentage gains. Solana (CCC:SOL-USD) is one such altcoin leading the charge; the SOL coin has seen a 70% boost in the last seven days alone. Today’s gains are taking the currency to new heights, and investors want to track down some Solana price predictions to figure out where the coin is heading.
Just yesterday, Solana was able to grow into the seventh-largest cryptocurrency by market capitalization; the coin surpassed Dogecoin (CCC:DOGE-USD) to win this honor. Today though, the bullish momentum is carrying SOL ever higher. Increasingly optimistic sentiment toward the altcoin is taking it to the number six spot on the largest cryptos list.
Solana is hitting an unprecedented new all-time high of $200 today, following a gain of 27%. The growth is enough to lift it above Ripple (CCC:XRP-USD) on the top cryptos list. Of course, beginning the year at just over $1.60, this was entirely unexpected; that’s an increase of about 12,400% on the year. However, the crypto network has been able to capitalize on the reinvigorated NFT trend via its partnership on the FTX NFT exchange. Savvy moves like this have helped to bolster the coin atop a general increase in altcoin speculation.
Solana Price Predictions: Can SOL Continue the Streak?
Just since the beginning of August, SOL has grown by over $160, and it has grown from the 15th-largest crypto to the sixth. Its market capital has grown from $9.7 billion to an astonishing $58 billion in that same time. Is Solana’s rapid growth really sustainable? And if it continues, just how high can it go? Let’s take a look at some Solana price predictions and see where analysts think the coin is headed:
- CoinPriceForecast thinks there’s plenty of room for Solana to multiply in value. The outlet is predicting SOL to be worth a whopping $672 by the end of the year.
- WalletInvestor doesn’t think the growth will last any longer, but it suggests SOL will hold onto its gains. The outlet’s September 2022 prediction aims for a price of $226 for the coin.
- DigitalCoin thinks Solana is still good for another $100 worth of growth before the end of the year. The site prices SOL at $294 by December.
- Gov Capital is predicting a similar $297 price target for Solana, but the outlet suggests the growth will occur over the 12 months ending September 2022 rather than before the end of 2021.
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.