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Solana Is All Set To Enter The Top 5 Crypto Assets! SOL Price Targets $500 Milestone

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As per the recent report of Santiment, an on-chain analysis metrics platform, Solana price’s uptrend is getting more historic. SOL holders discussing this NFT asset at higher rates most altcoins can only dream of! Solana weighted social sentiment has surpassed 4 deviations above the mean, pushing crowd positivity and trading volumes to historic levels.

The platform’s latest developments are paving a way for the increased weighted social sentiment.

Solana is all set to enter the list of top 5 crypto assets after the currency hits the three-digit mark for the first time in its history! The SOL’s price is up by over 18.07% in the last 24 hours, the currency is trading at $118.67 at the press time.

The Solana gained huge attention with the lauch of Degenerate Apes NFT sale on the Solana blockchain. This brought a huge profit for this asset, the rapid purchase of these arts skyrocketed SOL trade volume. More than $2.5 billion trading volume was recorded, with very low gas fees and faster transactions. With unprecedented NFT sales, the SOL price is propelling beyond expectations. As it stands at $118.70 at the press time, being the 8th largest crypto asset in the world.

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Analysing the current charts, it clearly indicates that with the latest developments SOL Price is unstoppable! From the last two weeks, Solana grew by 186% from $22 to $118.7 at the press time.  Probably with increased weighted social sentiment the price is anticipated to reach new highs and if it continues the present trend, with the launch of its ‘Ignition’ event on August 31st, the price could skyrocket to $200.

On the other hand, the RSI factor is currently standing at 86.60 indicating overbought conditions. This raises concern among the investors because some of them could end up their trade with present gains. As per the current trend, the Solana(SOL) price may face a slight dip to $112.85, later could consolidate at $117.65 and raise further high.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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