Solana (SOL) Price Analysis: Can it Reach $100?

Bombolo | News and Media

Solana is a technology platform that started in April 2019. It has become really popular because people are using it for three main things:

DeFi (Decentralized Finance): This means using Solana to create and use financial tools, like lending or trading, without needing a traditional bank.

NFTs (Non-Fungible Tokens): Solana is being used to create and trade unique digital items, like digital art or collectibles.

Web3: This is about building the next generation of the internet. Solana is being used to create new websites and online applications that work in a more decentralized way.

So, lots of different projects are happening on Solana, and more are on the way.

Solana is in a competition with other similar platforms, like Ethereum, to see which one people like more.

Recently, the price of Solana's own digital currency, called SOL, went up to . But now, in the last day, the price has gone down by more than 9%. So, right now, the value of SOL has gone down a bit.

Also Read: Solana's Remarkable Rally: Breaking Records and Predicting the Future of SOL Coin!

SOL Price Prediction: Near-Term and Future Outlook

Today, 14 December 2023, the price of Solana's cryptocurrency, SOL, is $64.99. Crypto- analyst D. Gogoi predicts how much the Solana coin (SOL) might be worth this December 2023. They think the lowest price SOL might reach is $84.48.The highest price they expect is $157.45. On average, they predict SOL will be somewhere between $101 and $122. These are just predictions, and the actual prices could be different.

Possibility of SOL Reaching $100

In the last 24 hours, it went down by 9%. So, it dropped from a higher price of $71 to where it is now.

Crypto analyst Gogoi claims that SOL probably will surpass $100 this weekend or late in December 2023. However many other analysts also claim it might take until March 2025 for SOL to hit $100, according to their analysis.

In simple terms, the current price of SOL has gone down a bit, and experts poke for a possibility for the price to reach $100 this year. It's a bit like guessing where the price of something might go in the future.

Also Read: Unlocking the Potential: Is Solana a Smart Investment in the Crypto World?