Press Release View Non-AMP

Is $40 Incoming for Solana? Traders Think This Token Could Explode Next

Published by
PR Manager

Solana has pumped 15% in the past week, priced at $32. Its recent growth is powered by bullish technical and fundamental events. Yet, with such momentum, could SOL hit $40 for the first time since August 2022?

Market Displays Mixed Signals on Whether SOL Will Hit $40

The Solana 4-hour price chart shows an uptrend that has recently formed into a wedge. Given its upward trajectory, the compression could be a cooling-off period within the rally, followed by another leg up.

Additionally, Solana is finding support on the 20-day EMA, and its RSI indicator is near the oversold territory, illustrating that sellers may be exhausted.

Moving to on-chain analytics, DeFiLlama data shows an uptick in total value locked (TVL) and revenue recently, with revenue recovering to levels last seen in November 2022.

TVL and revenue growth are significantly bullish long-term factors, showing that community interest is growing, reflected in its recent pump.

Meanwhile, global asset manager VanEck just released a Solana price prediction, providing its bull and bear cases on the project for 2030.

According to its forecast, SOL could reach a staggering p$3,211 by 2030. However, its bear case predicts just $10.

The forecast was based on various data points, including the project’s developer market share and its revenue vs. expenses, along with qualitative data points like its contrasting philosophy compared to market leader Ethereum.

Yet despite these bullish predictions and data points, there is also a notable portion of the market that is bearish on SOL. This is evident in its price creating lower highs in its recent wedge formation.

One notable trader who expects Solana to sell off in the coming weeks is Nay_gmi. According to an analysis on X, the ongoing issues regarding FTX’s SOL holdings led to a surge in open interest driven by short sellers. However, at least $40 million of these short contracts were liquidated amid the broader market pumping, leading to Solana’s massive uptick in price.

Yet, the trader alludes that Solana remains at significant risk of the FTX estate’s holdings being liquidated.

In response to the tweet, another X user, WazzCrypto, noted a Solana conference is starting in three days, which has historically fared a “sell the news event.” The tweet also highlighted that this would act in confluence with Nay_gmi’s theory.

Meanwhile, IncomeSharks humorously pointed out that former BitBoy Crypto CEO Ben Armstrong tweeting he is now the “leader” of Solana is a sell signal.

IncomeShark said, “Twitter sentiment is an amazing indicator with the loudest people being the best ones to countertrade.”

However, while market sentiment on Solana is mixed on whether it will reach $40, new presale project TG Casino is backed to explode thanks to its innovative use case and robust tokenomics.

Will $TGC Token Pump Next? Presale Raises $1.5 Million With Price Rise Set For 3 Days

TG Casino is a newly launched crypto casino native to the Telegram application. It boasts many advantages, like end-to-end encryption, access for Telegram’s one billion users, and a faster and more simplistic user experience than traditional online casinos.

Moreover, the project is anonymous, and users do not even need to create an account to get started. All TG Casino requires is for users to have a MetaMask account. This makes the onboarding process seamless, but this also does not compromise security.

TG Casino is one of the only fully licensed and regulated Telegram-based casinos, providing users with peace of mind that they are interacting with a legitimate and safe platform.

The $TGC token holds countless benefits. For instance, users get 25% cashback on all losses, free rewards, access to exclusive games and rooms, and a 337% staking APY.

Another promising feature is its buyback mechanism, which will repurchase $TGC tokens from the open market with a portion of the casino’s profits. It will allocate 60% to staking rewards and burn 40%.

These factors have led analysts like Cilinix Crypto to predict 10x returns from its presale price. However, the presale will not last, having already raised $1.5 million in one month.

Visit TG Casino Presale

PR Manager

Press release about recent ICOs, announcement from startups, new cryptocurrency launch by firms and unlike.

Recent Posts

Apertum Designated a Key General Blockchain in Avalanche’s Tier-1 Ecosystem

Apertum has been officially designated as a key general blockchain within the Avalanche ecosystem —…

June 6, 2025

Cardano Price Prediction: Is a Breakout Rally Coming in June?

The Cardano price fell nearly 10% last night due to the liquidation of numerous long…

June 6, 2025

BTC News Overlooks Revolutionary Mobile Mining: Bitcoin Solaris Offers ‘Bitcoin 2010’ Investment Opportunity

In 2010, Bitcoin could be mined on a laptop by anyone, anywhere. Today? That window…

June 6, 2025

Kazakhstan’s National Bank Rolls Out Crypto Card For Instant Conversion to Fiat

The National Bank of Kazakhstan (NBK) officially launched its crypto card initiative on June 3,…

June 6, 2025

Elon Musk Slammed by Trump, Tesla Stock Drop – Samson Mow Says ‘Buy Bitcoin’

Tesla’s stock just took a beating, dropping more than 14% in a single day and…

June 6, 2025

Senator Lummis Wants 1 Million Bitcoin to Slash National Debt

Can Bitcoin help reduce America’s $33 trillion debt? Senator Cynthia Lummis believes it can and…

June 6, 2025