Analysts at CoinCodex predict an impressive threefold surge in the value of Solana within a month. Experts are sure that the cryptocurrency token could demonstrate eye-popping performance and skyrocket to $612.5 by early May, surpassing its all-time high by 135%.
Although technical indicators are showing a neutral market situation, the Fear and Greed Index, a measure of investor sentiment, is currently at 78. This indicates that the market is experiencing strong bullish momentum. Notably, the last time investors greedily rushed to buy Solana, the blockchain could not handle the load. On April 4, 75% of transactions failed due to the surge in memecoin trading activity.
Over the last 30 days, the Solana exchange rate has increased in 60% of the trading sessions marked by significant volatility of 9.3% per day. Roller-coaster trading has been on full display in recent weeks.
Since the start of the year, Solana has been up by 78%, outdoing the 64% rally in Bitcoin. Experts attribute such a stunning result to the popularity of meme tokens, which appear to be the main catalyst for economic developments today. Therefore, now is the perfect time to buy Solana, CoinCodex analysts summed up.
