In a surprising turn of events, after registering a significant pullback in its price, Solana (SOL) emerged as the biggest gainer among the main cryptocurrencies on the market on December 29th due to its growth of more than 10% in the last 24 hours.
At the time of publication, the price of Solana was listed at US$109.16, up 9.8% in the last 24 hours. During this period, the cryptocurrency had a trading volume of US$4,872,909,693.
In December, the price of the Solana cryptocurrency exploded following recent highs and driven by the growth of the meme coin Bonk (BONK). In the last 30 days, SOL has recorded an increase in its price of 81.3%.
After registering substantial increases in recent months, the Solana (SOL) cryptocurrency registered a notable price correction yesterday, trading at US$105.51 with a drop of 8.2%.
The recently recorded price decline led the cryptocurrency to drop one position in the ranking by market capitalization, achieved this week. Currently, Solana is back in fifth place with a market capitalization of $46,857,264,172.
Last week saw several hot trending tokens that shaped the cryptocurrency market. The analysis platform, Santiment, recently shared a survey that shows the cryptocurrencies that are in the spotlight.
The data shows that the Solana cryptocurrency shone again in the market, standing out among other assets. Solana (SOL) experienced an outstanding 2023 and rose to the top in the last months of the year due to its growth and development of the ecosystem
Solana Cryptocurrency: Forecast Reveals Target Price in New Rally
In the dynamic world of cryptocurrencies, Solana (SOL) has been attracting notable interest. Cryptocurrency trader Bluntz recently shared his analysis of SOL’s performance on Twitter, highlighting the absence of significant resistance levels until the $137 mark. This observation suggests a potentially clear path for the coin’s rise.
Bluntz details that Solana, after breaking a high time frame, entered an “uponly” trajectory, a term used to describe a solid upward trend. This phase offers an opportune window for investors and enthusiasts who are aware of these changes and ready to capitalize on them.
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