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Solana shines as a 2024 Layer 1 success, attracting meme coin builders with low fees, high speeds, and growing momentum.
Solana has been one of the biggest Layer 1 success stories of 2024. It’s become a magnet for meme coin builders and investors, thanks to its low fees and high network speeds – and as we’ll see shortly, it’s continuing to go from strength to strength.
But is Solana a good buy ahead of 2025? Let’s take a look at SOL’s investment prospects in this price prediction.
Solana: A massive success in 2024
Solana has had a strong 2024, growing over 200% since this time last year to a price of $216 at the time of writing.
The most relevant bullish catalysts are the emergence of Bitcoin ETFs (which launched in January 2024, following hype that began in October 2023) and the Solana meme coin ecosystem.
Led by high-performing tokens like Dogwifhat (WIF) and Popcat (POPCAT), and driven by accessible token launchpads like Pump.fun, Solana quickly became the new go-to destination for meme coin projects and traders. As a result, its native SOL token surged in value during the first quarter of 2024, and then consolidated its position as investors continued to buy.
Solana has been one of the biggest Layer 1 success stories of 2024. It’s become a magnet for meme coin builders and investors, thanks to its low fees and high network speeds – and as we’ll see shortly, it’s continuing to go from strength to strength.
But is Solana a good buy ahead of 2025? Let’s take a look at SOL’s investment prospects in this price prediction.
Solana: A massive success in 2024
Solana has had a strong 2024, growing over 200% since this time last year to a price of $216 at the time of writing.
The most relevant bullish catalysts are the emergence of Bitcoin ETFs (which launched in January 2024, following hype that began in October 2023) and the Solana meme coin ecosystem.
Led by high-performing tokens like Dogwifhat (WIF) and Popcat (POPCAT), and driven by accessible token launchpads like Pump.fun, Solana quickly became the new go-to destination for meme coin projects and traders. As a result, its native SOL token surged in value during the first quarter of 2024, and then consolidated its position as investors continued to buy.
For now, market participants seem content to let SOL continue to move sideways. In the event of a breakout above the red diagonal line, however, the SOL price could pump upwards very quickly before possibly losing some momentum around $264.50.
If the price managed to break above $264.50, that would be an extremely bullish sign – and it would be reasonable to consider $300 as SOL’s next target.
On the bear side, it’s important to note that even though SOL’s descending triangle bottoms out around $203, the overall price trend would actually flip bearish before that point. This is shown by the SuperTrend indicator (the green-shaded area on the chart), which would turn red (bearish) if the price drops below $212.
Eagle-eyed readers will also have spotted some early warning signs, in the form of recent candle wicks that have already pulled the SOL price below the SuperTrend support level.
In the event of a dip below $203, key support prices to watch would include $200 (a pivotal psychological support level), and $183 (the highest price peak before SOL pumped in early November).
Either way, a lot of volatility lies ahead for SOL as 2024 ends and we move into 2025. As the ongoing price consolidation shows, traders and investors are positioning themselves in line with their own analyses – and their actions can only cancel each other out for a limited period of time.
Popular Twitter analyst Crypto Zach has identified a similar scenario playing out on a lower time frame.
Solaxy: The first Solana Layer 2 blockchain
While the crypto market awaits the volatile outcome of SOL’s consolidation, active investors need to keep searching for the next big token to accumulate.
We have found Solaxy (SOLX) to be an especially intriguing option for crypto enthusiasts who don’t want to miss the next big opportunity.
Solaxy is the world’s first Solana Layer 2 blockchain, and addresses the key pain points that have caused issues for Solana users in the past. These problems include failed transactions, network congestion, and limited scalability – and Solaxy solves them all, while retaining Solana’s much-loved low fees and high transaction speeds.
SOLX is Solaxy’s native cryptocurrency token – but it’s also multi-chain, and will be available on the Ethereum network as well as Solana. That’s one token used across the two most powerful and versatile Layer 1 blockchains in the industry. The possibilities for project builders will be endless, and investors can begin accumulating SOLX at its current presale price of $0.00156.
From meme coins to DeFi and real-world asset (RWA) tokenization, Solaxy is set to dominate across multiple crypto sectors and narratives. By providing token holders with access to Ethereum’s deep liquidity, Solana’s high throughput capabilities, and the unique advantages provided by the Solaxy Layer 2 network, SOLX is an exceptional presale token that demands further investigation.
Another Layer 2 project – Pepe Unchained – recently saw gains of over 600% following its recording breaking $76m presale. If Pepe Unchained’s success is anything to go by, Solaxy could be set for a bright future.
For more information, visit the Solaxy presale website.
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