Recent changes in Solana's price have drawn the attention of many analysts and investors.
Sharp Increase in Solana Price
A week ago, Solana's price was between $150 and $160, and has now risen by over 35%, trying to sustain above $200, driven by rapid development in Solana DeFi and memecoin sectors.
Development of DeFi and Memecoins on Solana
Solana DeFi's total value locked (TVL) has risen above $7.5 billion and is headed towards $9.9 billion. Additionally, Solana DEX volume reached its second-highest day with $5.28 billion in the last 24 hours. The memecoin market cap rapidly reached $1 billion on Solana.
Expert Forecasts and Future Prospects
Analyst Seth set the next target for SOL rally at $300. Although price dropped by 1.77% during early trading, it is considered normal for a healthy bull run. It's expected to remain consolidated until the announcement of new inflation rates. Once the CPI is released, expected to be lower, Solana might hit $220, subsequently rising above $230.
Current trends in DeFi and memecoins on Solana continue to support its price growth, prompting experts to make optimistic future forecasts.
