Analyst Predicts Solana (SOL) Could Reach $1.4K by 2025

Is the Projected Rally Plausible?

Solana (SOL) has emerged as the best-performing cryptocurrency among the top 20, surging by 11% in the past week. On October 24, its price briefly spiked to $178, according to CoinGecko data, marking the highest level in nearly three months. Currently, SOL trades at around $171, with a market cap exceeding $80 billion.

To put this into perspective, the market caps of well-known companies such as:

• British American Tobacco
• Spotify
• Marriott International
• Mitsubishi Corporation

are all worth less than Solana’s market cap.

Despite these gains, some X users believe SOL has yet to truly impress the industry with significant growth. Analyst Titan of Crypto highlights the emergence of a “massive bull flag” on Solana’s weekly price chart. He anticipates a staggering 700% increase, projecting SOL to surpass $1,400 sometime next year.

This technical analysis pattern typically indicates that buyers are taking a temporary pause after a price rally, but it also suggests they may soon resume purchasing, driving the valuation higher. However, it’s important to note that such a price explosion would require SOL’s market capitalization to skyrocket to nearly $600 billion. Currently, only Bitcoin (BTC) has a higher market cap, followed by Ethereum (ETH) at just over $300 billion, making this forecast quite ambitious.

Titan of Crypto’s prediction has sparked a wave of discussion, with some X users finding the target plausible, while others dismiss it as “insane numbers.”

A Closer Look at Solana’s Ecosystem

The recent price appreciation of SOL aligns with a rise in on-chain trading volume within the network. According to DefiLlama, on-chain trading volume has been hovering above $2 billion for the past six days.

Furthermore, the total value locked (TVL) on Solana surged to a 34-month high of over $6.7 billion on October 24. This resurgence is generally viewed as a positive factor for SOL’s price, indicating higher user engagement.

An increasing TVL reflects a rise in the amount of capital or assets held within Solana’s decentralized finance (DeFi) ecosystem. This could signal confidence among market participants, potentially fueling additional interest from investors.