Bitrabo Editorial
Tracking its outstanding performance since late 2023 and throughout this year, Solana (SOL) has been a standout asset, triggering discussions surrounding its bullish prospects and the likelihood of breaking its current all-time high in this market cycle.
Despite the optimism, a recent survey conducted by CoinGecko revealed that many crypto enthusiasts remain conservative about Solana’s potential to reach new price peaks, with the majority of investors predicting the SOL token to only hit $300 in this cycle.
Expectations Among Crypto Investors Regarding SOL Price
In its Post-Halving Sentiment Survey, CoinGecko engaged with over 2,500 participants to gauge sentiments around price predictions for Solana, Bitcoin, and Ethereum. The findings indicated that nearly a quarter of respondents foresee Solana’s price peaking at $300 during this cycle, a figure representing a modest 16% increase from its current all-time high of $259.
The survey highlighted various price ranges predicted by participants, with the $300 – $400 range being the next popular expectation at approximately 14.7% of respondents. Following closely were forecasts in the $400 – $500 (12.6% of participants) and $500 – $600 (12% of participants) ranges.
Interestingly, a minority of 10.6% of survey respondents expressed confidence in Solana surpassing the $1,000 mark in this market cycle, which would entail a substantial 900% surge from its current price level.
Recent Performance of Solana Price
At the time of reporting, Solana is trading around $183, marking a significant 24-hour increase of 6.2%. This surge indicates a strong return for the bulls following a relatively slow week for the cryptocurrency.
Moreover, Solana has demonstrated remarkable performance over the past two weeks, with data from CoinGecko showing a price surge of over 30% for the SOL token during this period.
Notably, Solana briefly claimed the fourth position in terms of market capitalization on July 26, surpassing Binance Coin, as reported by Santiment. However, it has since slipped back to the fifth position in the crypto market rankings.