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Solana (SOL) has recently broken the $100 resistance for the first time in over a year and a half since Terra's collapse.
The collapse brought SOL from ATH of $260 in 2021 to the $20 mark throughout the whole of 2023. However, things are finally going in Solana's favor again…
SOL has to thank for its $100 rally mainly to the increased trading of dog-themed meme coins and airdrops on Solana's platform.
This has raised one question in the community – Will Solana reclaim its ATH and surge to $250 in 2024?
Let's check out the details.
We mentioned the increased meme coin trades on Solana's network – well that has resulted in SOL outpacing ETH in the 24-hour trading volume.
For a moment ETH's trading volume stood at 4.68 billion USDT while SOL achieved 5.56 billion USDT. Which goes in line with Solana's 47% rise in the last week.
Now let's move to the question at hand – With the recent rally and the increased trading volumes can SOL hit $250 in 2024?
Well, experts' opinions are divided. Nathan Jacobs, a senior researcher at the Money Mongers, thinks that SOL can reach anywhere between $250 and $300 in 2024.
"If Solana stays on its hot streak and dodges tech troubles, I reckon it could hit between $250 to $300 when 2024 rolls in. Its appeal to the DeFi and NFT scenes is a huge plus, given its tech chops with fast and cheap transactions", Nathan said back in November.
On the other hand, Derek Rodriguez, the CEO of crypto wallet app Gridlock, said earlier that SOL would reach $100 in early 2024 only to retract to the $60 mark after that.
At the moment, Derek's prediction is coming true, but we have still yet to see how things will pan out in 2024.
With all of this in mind, SOL's growth is still uncertain at the moment, that's why we found a couple of promising crypto presales that have bigger potential in 2024.
Sponge V2 is shaping up to be the breakout star in the 2024 altcoin scene, riding on the phenomenal success of Sponge V1.
Sponge V2 differentiates itself with a unique stake-to-bridge model, cleverly designed to lock in long-term investment and reward its vibrant community. This meme coin marvel stands at the intersection of a passionate community and innovative blockchain technology, making it a compelling addition to any investor's portfolio.
The introduction of a play-to-earn game further elevates Sponge V2 from its meme coin origins, adding an engaging utility layer.
With ambitions to secure listings on premier exchanges and a strong foundation of over 11,300 holders, Sponge V2 isn't just following trends – it's setting them. As we step into 2024, Sponge V2 represents not just a savvy investment but a journey into the future of meme coins, where community spirit and technological innovation converge.
The second on our list of promising SOL investment alternatives is Bitcoin Minetrix (BTCMTX). The platform is revolutionizing the crypto-mining world with its novel Stake-to-Mine approach.
This platform allows users to easily participate in Bitcoin mining without the need for technical expertise or expensive equipment. By staking the $BTCMTX tokens, users receive mining credits for cloud-based Bitcoin mining, streamlining the process and making it accessible to a wider audience.
Notably, Bitcoin Minetrix addresses common issues in cloud mining, such as scams, through its transparent and decentralized token system.
The limited supply of $BTCMTX tokens, coupled with the fact that rewards are mainly in the form of mining credits, creates a favorable supply-demand balance that could significantly drive growth.
Crypto analysts like Jacob Bury, have expressed bullish sentiments about the project's potential, citing its unique tokenomics and innovative concept.
You can snatch your first batch of tokens at just $0.0124, but that price is set to increase very soon.
Meme Kombat is redefining the meme coin sector by blending Web3 gaming with popular memes and attractive staking rewards through its MK token.
This innovative platform steps beyond typical meme coins, featuring an engaging gaming arena where famous memes like Doge, Shiba, and Pepe come to life in AI-driven battles. These battles, unique due to their blockchain-based random sequencing, add an element of unpredictability and excitement.
Players can actively bet on these battles while earning substantial passive income, with an estimated 230% APY on staking MK tokens. The play-to-earn aspect of Meme Kombat adds another layer of interaction, allowing users to wager MK tokens on battle outcomes, with winners claiming the spoils.
This project has already caught the eye of the crypto community, with over $4,6 million raised in its presale.
The leadership of CEO Matt Whiteman, a seasoned player in the crypto gaming space, adds credibility to Meme Kombat's potential.
Launchpad XYZ is making waves in the Web3 trading world, drawing seasoned crypto experts with its innovative approach and remarkable presale success, amassing over $2.3 million.
Catering to professional traders, it offers advanced tools and services, including a decentralized exchange, an NFT marketplace, and fractional investing in high-value assets like real estate. The platform's native LPX token, essential for accessing its offerings, is the highlight of its ongoing presale, currently featuring a 3% bonus.
With the presale's closing looming, Launchpad XYZ is rapidly emerging as a leader in Web3 trading, offering a versatile and robust environment for effective crypto trading. Its standout feature is the Launchpad Quotient (LPQ), an AI engine that tailors investment strategies by analyzing extensive data, simplifying crypto investments for novices and offering high-grade analytics for all.
While the future growth trajectory of Solana (SOL) in 2024 remains shrouded in some uncertainty, it still stands as a viable long-term investment option. Market indicators suggest a continued bullish trend for SOL, though it might not soar as high as $250 within the year.
For larger and closer returns, you'll do best with presales like Sponge V2 and Bitcoin Minetrix.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
