Gagain reveals when he thinks SOL price will surpass $750 after hitting its all-time high.
Popular influencer Jake Gagain has shared his “insane price predictions” for top crypto assets like Bitcoin, Ethereum, and XRP as the Bitcoin halving event approaches. Speaking about Solana (Sol), he predicted that the asset would climb above $750 at the peak of the bull run.
Solana to Hit $750
In his prediction video shared on X ( formerly Twitter), Gagain shared his price prediction for Solana before and after the Bitcoin halving. According to him, the asset’s recent price performance indicates that it is getting close to the all-time high of $260 seen in November 2021.
Therefore, Gagain said that he expects Solana to break the all-time high before the halving scheduled in April. The influencer did not stop there as he predicted that the crypto asset would see a price above $750 after the event.
Can Solana Reach $750?
With the surge in the Solana network, Gagain price prediction might not be so far-fetched. The network has seen a notable surge in its trading volume fueled by the surge in popularity of meme coins launched on Solana like Bonk and Dogwifhat (WIF).
The network’s meme coin sector boasts a market cap exceeding $5 billion, with daily trading volumes surpassing $2.7 billion. One such meme coin, Book of Meme (BOME), saw its market capitalization explode from practically zero to a staggering $1.45 billion in a mere 56 hours. Another meme coin built on the Solana blockchain called Shiba Budz (BUDZ), also brought considerable attention with an astonishing 420% price surge.
As Solana meme coins continue to capture investor interest and drive market trends, the ecosystem stands to benefit from increased attention, investment, and innovation which will likely drive the asset’s price high.
Another factor that may contribute to Solana’s price surge is the network’s presence in the Non-Fungible Token sector, where it has a transaction volume of $7.9 Billion. Additionally, the network decentralized finance (DeFi) ecosystem achieved a remarkable milestone earlier this year. The total value of assets locked (TVL) in the ecosystem climbed by 500% to $1.74 billion.
Solana has made an impressive recovery from the FTX scandal which caused a significant drop in its price coupled with being in the middle of a bear market. According to data from price tracking platform Coinstats, Sol trades at $172.7 at press time.
