May 7, 2024 1:00 pm CEST
| 3 min read
Bears and bulls have engaged in a violent fight in the crypto market and prices are undergoing violent swings in recent days. She is not excluded from the competition either Solana which has recently experienced strong volatility which makes it difficult to predict price trends.
It would appear that the bulls have the upper hand in the fifth cryptocurrency by market capitalization and AI algorithms maintain an optimistic attitude.
In fact, Solana has recovered its losses in a big way during the last week by recording strong growth, and even in the 24 hours it moves in the name of green.
Driving the seemingly unstoppable growth is the development of numerous blockchain projects on the platform and the ability to quickly resolve network congestion problems.
Solana price forecast
It is in this context of strong price fluctuations that we questioned the advanced artificial intelligence algorithms, developed by the crypto monitoring platform PricePredictions.
According to AI, Solana prices may reach the target of $147.11 by May 31, 2024.
The projection of Solana’s possible price direction is based on technical analysis indicators such as moving average convergence and divergence (MACD), relative strength index (RSI) and others, are correct.
Solana price analysis
At the moment, Solana is trading at $158.99, recording an increase of 2.19% on the daily chart, while in a week the token has gained 20.84%. Compared to a month ago, the price of Solana is down by 11.65%.
It is also important to point out that one of the factors that could influence the price of SOL is the activity of the largest holders, known as “whale”who recently made some massive transfers within hours of each other, involving a total of 22 million SOL tokens.
Ultimately, the asset may continue to improve its price but it is difficult to make definitive predictions on the price of Solana, especially since in this sector things can change suddenly. Therefore, it is essential to make your own careful assessment.
New meme coins to aim for big increases
While Solana certainly has great potential, traders understand the importance of maintaining a well-diversified portfolio. One way to diversify investments is to also include newer tokens that could generate greater growth prospects.
Such a portfolio with a rich composition could include pre-sale tokens, which can often see large increases at the time of listing.
One such token with good potential at the moment is Sealana (SEAL), a meme coin developed on Solana that launched its presale last week.
It has already raised around $250,000, which is a really good result considering that it is a very young project.
Sealana fits into a lively and dynamic context for meme coins developed on Solana. Suffice it to say that projects such as dogwifhat (WIF) and BONK have recorded very substantial gains in recent months.
Solana’s next meme coin is an assault seal
The new Sealana token has already put itself in the ideal condition to follow the example of other meme coins with greater seniority and high returns. But this time her character of inspiration is not the usual dog or a frog, she is instead a rude seal intent on climbing the meme coin rankings in terms of performance capacity.
Since its sale it has already raised a quarter of a million dollars, it seems that investors have welcomed his narrative and the marketing efforts seem to be hitting the mark. All this bodes well for its future.
New investors can participate in the presale by visiting Sealana’s official website, where they can purchase SEAL by sending SOL to this address: DJ15ZYXqUNMYJ3hL7z4ciSaSFAw5cbos3YjGpdvwmF6c.
At the moment, SEAL is available at the rate of 1 SOL for 6,900 SEAL, which equates to approximately $0.022, if you consider Solana’s price right now.
This would appear to be a very affordable price for a cryptocurrency that could see a big upside once the pre-sale is over and the token is ready for trading once listed on the exchange.
The listing on the exchange is expected in the next few months and before the listing, participants in the presale will be able to receive their tokens via an airdrop.
Cryptocurrencies are highly volatile and unregulated. No consumer protection. A profit tax may apply.
