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Can Solana hit $ 1,000 in this bull market?



One of the biggest winners among cryptocurrencies in 2021 is Solana. The SOL token rose by over 4,400% within a year and is currently the 5th largest coin by market capitalization. Can Solana still go above $ 1,000 this cycle? We are trying to make a cautious forecast.

Solana soon at 1,000? - 2021 has been impressive so far 

At the beginning of 2021, Solana's SOL token was still under $ 2. Since then, the token has had an extreme bull run. As part of the altcoin bull market in May of this year, the SOL rose as high as $ 56. This price fell again as part of the strong consolidation.

When Bitcoin rose again, Solana also rose. On November 6th, the SOL token reached its all-time high of $ 260. Since then, the price has fallen a little again. However, the token still has further potential for price jumps, especially when the Bitcoin shoots up.

Big bull run at the end of the year is coming up

As we have often mentioned in the recent past, it is very likely that Bitcoin will gain massively in value towards the end of the year. At the same time or shortly afterward, the Alt-Coins should also increase extremely.

Solana should also benefit from this. Many investors are of the opinion that Solana is already too high a price to increase by 4 times in value. However, we have to keep in mind that the big rallies should follow if we see a similar development in the market as in 2017. 

Solana $ 1,000 - These are the other reasons

In addition to the upcoming high point of the bull market at the end of 2017, there are a few other reasons for a further positive price development of the SOL token. In addition to the Dogecoin and Shiba Inu meme coins, Solana was one of the cryptocurrencies that had the strongest hype. However, this hype was also underpinned by an extremely high level of functionality and an extremely fast transaction speed. 

Many analysts think a price of $ 500 is quite likely. However, we have often seen that speculation can fuel the price of certain coins even further. Should Solana save its hype in the next few weeks, new, inexperienced investors could drive the price upwards. So $ 1,000 is an optimistic goal for Solana, but not impossible.

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