Solana Price Prediction as SOL Rockets 20% in a Week – This Other SOL Meme Coin Is Up 30x
The Solana price has held still in the past 24 hours, remaining at $115.86 as the crypto market enjoys a 1.5% lift.
Despite not moving today, SOL has surged by 20% in the last seven days, with the altcoin also sitting on a 425% gain in the past year.
Such growth has followed from the performance of the Solana blockchain, which has attracted plenty of NFT usage in recent months and also proven a hotbed for new meme tokens.
And new Solana-based meme tokens continue to emerge, with the recently listed Smog (SMOG) gaining massively on the back of a bullish airdrop system.
It’s possible that, after a very bullish week, SOL may correct a little over the next few days.
Its indicators look a little too hot right now, with its relative strength index (purple) tipping downwards after reaching 70 yesterday.
This indicates a loss of momentum, and while SOL’s 30-day average (yellow) remains well above the 200-day (blue), it’s entirely plausible to say that a comedown is overdue.
But even if Solana does decline in the near future, the recent behavior of its support level (green) would imply that any decline is likely to be minor.
Indeed, the coin’s trading volume remains high at $2.8 billion, although it does seem that some of this involves whales offloading their bags onto retail.
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