Why Solana Coin Price May Touch Its All-Time Soon | Airdrop Alert Pro

Meme coin mania is on the rise again Solana The network has seen a huge surge in user activity since early November, driven by Donald Trump’s election victory. This increase in demand positions Solana’s native token, Sola return to the all-time high of $260 is possible.

Currently, SOL is trading just 6% below that peak, leaving the market speculating on when it will reach this milestone.

Users flock to Solana to buy Meme coins

Meme coin based on Solana Prices have risen significantly since then Trump won on November 5th. This rally is organized by Peanuts(PNUT)a squirrel-themed meme coin that has seen its value surge by more than 2,700% in the past two weeks.

Token prices soared accordingly Elon Musk has endorsed many times Day X coincides with the launch of the U.S. Department of Government Effectiveness (DOGE). In fact, its market capitalization peaked at $2.4 billion on November 14.

Another Solana-based meme coin is nomnom (NOMNOM), which has seen huge growth over the past week. The token has been described as the “hungry hamster of the Solana network,” with its price soaring nearly 400% in the past seven days.

Growing trading activity around these tokens and other small-cap memecoins has driven significant growth in user demand on the Solana network. According to Artemis, the number of active addresses that have completed at least one transaction on L1 has reached 6 million so far, an increase of 14%.

Increased user activity also drove a significant increase in daily transactions. According to Artemis data, Solana processed 45 million transactions in the past 17 days, an increase of 7%.

also, Decentralized exchange Activity on the Solana network increased significantly. Trading volumes on these platforms have surged by 252% since the beginning of this month, surpassing an impressive $6 billion.

SOL price Prediction: All-time highs are within reach

The enhancement of this activity Solana network located Its native token SOL is expected to return to an all-time high of $260. At press time, SOL was trading at $244.68, 6% below that price peak.

BeInCrypto’s analysis of the SOL/USD one-day chart shows continued bullish sentiment for the altcoin. The Elder-Ray Index, which measures the strength of bullish and bearish forces, is currently at 55.97, indicating that bullish power prevails.

Positive readings indicate greater bullish pressure. If this trend continues, SOL could rise back to its all-time high of $260 and possibly even surpass it.

However, if selling pressure intensifies, The coin’s value could drop to $205.99. If this level fails to hold, the Solana token price could drop below $200, trading at $163.99.