Solana price recovers from sharp sell-off, is $300 SOL possible?

November 27, 2024 Coin Telegraph

Solana price recovers from sharp sell-off, is 0 SOL possible?

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Solana’s onchain and derivatives data suggest that SOL could make a run back toward its all-time high in the short term.

Solana's native token, SOL (SOL), has surged 8% since falling to $222 on Nov. 26. Despite this recovery, some investors remain skeptical, citing the sharp correction from its all-time high of $263.80 on Nov. 23 as a potential sign of a faltering bull run. However, onchain and derivatives data suggest that SOL still holds significant upside potential.

SOL/USD (blue) vs. altcoin market cap (purple). Source: TradingView /Cointelegraph

Investor frustration partly stems from SOL’s modest 1% gain between Nov. 20 and Nov. 27, during which the broader altcoin market capitalization climbed 12%. Several tokens outperformed significantly, with Stellar (XLM), Celestia (TIA), Fantom (FTM), Uniswap (UNI), and Polkadot (DOT) posting gains of 40% or more during the same period.

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This Solana Rival Is Looking Great Amid Bitcoin Pullback, Says Top Crypto Analyst

November 27, 2024 The Daily Hodl

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A closely followed crypto analyst says that one Solana (SOL) rival is exhibiting market strength despite Bitcoin’s (BTC) pullback to the lower $90,000 range. Pseudonymous analyst Pentoshi tells his 822,400 followers on the social media platform X that the native token of the layer-1 blockchain Sei (SEI) is primed for another leg up. “SEI is […]

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Solana DEX volume hits record high: Is SOL price headed to $300?

November 25, 2024 Coin Telegraph

Solana DEX volume hits record high: Is SOL price headed to 0?

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Solana’s monthly DEX volume surpasses $100 billion for the first time, fueled by high network activity and the memecoin frenzy.

Solana native token SOL surged 61.5% between Nov. 5 and Nov. 22, hitting new all-time highs at $263. This rally mirrored broader altcoin gains, which rose by 58% as Bitcoin nearly reached the $100,000 milestone.

The bullish momentum is mostly attributed to President-elect Donald Trump’s win in the just concluded 2024 US Presidential election and a surge in Solana network metrics as the memecoin frenzy returns. This has resulted in multiple Solana onchain indicators reaching record highs, with the latest being the monthly decentralized exchange (DEX) volumes.

Layer-1 blockchain Solana (SOL) has clocked record-breaking DEX volume on multiple timeframes, according to data from DefiLlama.

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Crypto Trader Says Large-Cap Memecoin Set To Continue Rallying, Updates Outlook on Ethereum and Solana

November 23, 2024 The Daily Hodl

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A closely followed crypto analyst believes that the most popular memecoin by market cap is primed for another leg up. Pseudonymous analyst Altcoin Sherpa tells his 230,700 followers on the social media platform X that Dogecoin (DOGE) is printing a bullish pattern on the four-hour chart after bouncing off of the $0.36 level. “DOGE: this […]

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Solana (SOL)-Based CHILLGUY Memecoin Falters As Illustrator Threatens Legal Action: Report

November 21, 2024 The Daily Hodl

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The illustrator behind the viral “Chill Guy” meme is warning CHILLGUY holders that he plans to take legal action against the Solana (SOL)-based memecoin over copyright issues. According to a new Decrypt report, Chill Guy creator Phillip Banks recently took to the social media platform X to threaten legal action against unauthorized, for-profit uses of […]

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Trader Peter Brandt Says One Memecoin Flashing ‘Super Strong’ Chart, Predicts Price Rips for XRP and Solana

November 20, 2024 The Daily Hodl

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Seasoned trader Peter Brandt believes that top memecoin Dogecoin’s (DOGE) price action as of late looks incredibly bullish. Brandt tells his 751,800 followers on the social media platform X that DOGE has broken out of two technical patterns on the weekly chart this year. The veteran trader shares a chart suggesting that DOGE has cleared […]

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Ethereum DApp volumes gain 38% in a month — Will ETH price follow?

November 19, 2024 Coin Telegraph

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Everything but ETH seems to be rallying, even though Ethereum’s DApp volumes are surging. What gives?

Ether (ETH) price has struggled to maintain levels above $3,200 between Sept. 13 and Sept. 19. However, onchain metrics have improved, particularly when compared to some of Ethereum’s direct competitors. Traders are now questioning how long it will take for Ether to resume its bull run, given its dominance in fees and network deposits.

Blockchains ranked by 30-day DApps volumes, USD. Source: DappRadar

No blockchain comes close to Ethereum's $149.9 billion in onchain volumes over the past 30 days. The second-largest competitor, BNB Chain (BNB), reached only $26.6 billion, 82% smaller despite offering much lower transaction fees. More importantly, Ethereum’s activity grew by 37.7% over the past month, while BNB Chain saw a 6% decline in volume.

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Here’s the Key Chart in Crypto Right Now, According to Former Goldman Sachs Executive Raoul Pal

November 19, 2024 The Daily Hodl

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Former Goldman Sachs executive Raoul Pal thinks one chart is a critical representation of the current crypto market. The Real Vision chief executive shares a chart with his one million followers on the social media platform X that compares the layer-1 blockchains Sui (SUI) and Solana (SOL). The macro guru shares a chart suggesting that […]

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Analyst Predicts Rallies to New All-Time Highs for Ethereum and Solana, Calls One Memecoin the ‘Outperformer’

November 19, 2024 The Daily Hodl

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A closely followed crypto strategist thinks layer-1 rivals Ethereum (ETH) and Solana (SOL) are gearing up for rallies to new all-time highs. Pseudonymous analyst Inmortal tells his 217,500 followers on the social media platform X that he believes Ethereum is in the midst of a brief consolidation period before rallies to new record-high levels. The […]

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Solana Memecoin Rips 1,603% in November As Binance Announces Suprise Support

November 18, 2024 The Daily Hodl

Altcoins

One Solana (SOL)-based memecoin is going parabolic after earning sudden support from Binance, the world’s largest crypto exchange. Binance announced futures contracts in the USDT trading pair support for Comedian (BAN), which soared to a new all-time high of $0.378 on Monday. BAN has since retraced and is trading for $0.292 at time of writing, […]

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