AI sets Solana’s next record high after SOL flips BNB in market cap 
Cryptocurrency Jul 27, 2024 Share
Solana (SOL) is currently among the standout cryptocurrencies, recording significant buy pressure as the token seeks to breach new highs.
Notably, the recent buying pressure has elevated Solana to the fourth-highest crypto by market capitalization, surpassing Binance Coin (BNB). As of this writing, SOL had a market cap of $87.05 billion, flipping BNB, which had a capitalization of $86.22 billion.
At the moment, Solana is targeting the $200 mark after clearing the $180 resistance zone. By press time, SOL was trading at $186 with daily gains of over 2%. The recent bullish momentum is visible in the weekly timeframe, with Solana up by over 10%.
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With Solana seemingly on an upward trajectory, the focus is on how high the token will rise. In this regard, Finbold consulted OpenAI’s latest artificial intelligence (AI) tool, ChatGPT-4o, to determine the next potential SOL record high price.
AI predicts SOL’s record high price
In predicting the next SOL price, the AI tool suggested several potential scenarios to drive SOL to unprecedented heights. ChatGPT-4o predicted a possible 50-100% increase in the next few months if Solana continues its bullish momentum. This projection places SOL’s price in the $280 to $375 range, assuming favorable market conditions and sustained investor confidence.
The AI model also highlighted the impact of significant partnerships and increased adoption in decentralized applications (dApps), decentralized finance (DeFi), and non-fungible tokens (NFTs). In such a scenario, Solana’s price could surge more substantially, reaching between $400 and $500. The integration of Solana’s blockchain technology by major corporations and financial institutions could be the catalyst for this leap.
Furthermore, positive market sentiment and a rise in institutional investment are other critical factors identified by AI. Should the overall crypto market experience strong bullish trends and increased inflows from institutional investors, Solana could see a dramatic rise, potentially aiming for $500 to $600 or even higher.
SOL price prediction. Source: ChatGPT-4o
Notably, ChatGPT-4o acknowledged that Solana flipping Binance Coin in market capitalization signifies a major shift in the crypto landscape.
Analysts take on Solana
Other analysts complement this projection by believing SOL is destined to hit new highs. For instance, as reported by Finbold, cryptocurrency expert Ali Martinez believes SOL is set to deliver on its bullish promise. He noted that chart patterns suggest the token could now rocket to $1,700.
SOL price analysis chart. Source: TradingView/ Ali_charts
Overall, if Solana maintains the current bullish momentum, the token could easily target the $200 resistance zone on the way to a new record high.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
