In 2022, the cryptocurrency market faced two significant downturns, with Solana (SOL) being one of the most affected altcoins. After hitting its lowest point at the end of 2022, Solana made a remarkable comeback in 2023, emerging as one of the top performers of the year. Questions now arise about SOL’s price prediction for the end of February 2024.
Projected Value of Solana by End of February 2024
Despite a 20-day slump in the crypto markets, AI and machine learning algorithms forecast a promising recovery for Solana by February 29. CoinCodex’s data, as of January 31, suggests that SOL could climb to $106.29 by the end of February 2024, a 7.1% increase from its current price.
Solana, which had fallen out of the top 10 cryptocurrencies, has impressively returned to the top 5, trailing only behind BTC, ETH, USDT, and BNB in market cap. The gap between Solana and XRP continues to widen as SOL cements its position in the market.
At the time of writing, Solana’s price stands at $102, reflecting a daily decrease of over 2%. However, over the past week, SOL’s price has surged by more than 18%, despite a monthly dip of 2%.
Solana’s trading volume has seen a 10% increase in the last 24 hours, surpassing $3.5 billion, although its overall volume has dropped by 3%, settling around $44 billion.