Solana is still an excellent project which has not escaped the attention of crypto experts and analysts. During the bull market run of cryptocurrencies in 2021, Solana reached an all-time high of $260, which caused several tractions in the crypto space and drew crypto enthusiasts and users to discover the Solana project due to its significant usability and outstanding functionality.
Solana has several aces up its sleeves, making it challenging for crypto enthusiasts to dump their $SOL tokens and jump ship to other crypto assets. Many in the crypto space believe Solana could reach a four-figure price within the next ten years.
Do you share the same bullish sentiments? This article provides an expert analysis of the Solana project. It also features alternative green cryptos you can consider if you’re looking to diversify your investments before the end of the year.
Overview of Solana
Solana foundation started way back in 2017 but relaunched in the first quarter of 2020. Within a year, it became a top-ten cryptocurrency. During the 2021 bull run, the crypto world noticed Solana when it started mooning with other cryptocurrencies in the market.
To further speed its token price to its $260 All-time high, Solana had an excellent, secure, and efficient platform that operated an energy-efficient consensus mechanism called Proof-of-History (PoH). Later in 2021, Solana launched an NFT project named “Degenerate Ape Academy.” This project catapulted Solana to the moon when it sold over ten thousand (10,000) units on OpenSea, a marketplace to trade NFTs.
Despite the market crash of major crypto assets, Solana did not go down easy like the rest of the competition, but the price dropped later. As of the time of writing, the current market price of Solana is $32.
Solana Price Prediction: Bearish or Bullish?
Cryptocurrencies are experiencing a monumental bearishness in the market. From a US$ 2.1 Trillion Market cap to barely holding the US$1 trillion mark, it is difficult for many crypto analysts to have bullish views.
Many crypto analysts point to a further price dip regarding Solana’s current price action, while many believe that $SOL tokens will be worth $45 by the end of 2022. According to Finder’s Report, Solana price forecasters predicted that Solana’s price will reach $512 by 2030.
On the technical analysis side, when considering the Solana Chart (SOL/USD), on the 4-Hour timeframe, $SOL is holding the key resistance level (red lines) at $35.4775. Despite the recent bullish rally in price, the ascending channel (grey lines) shows that the $SOL price could reach $39 (green arrow) and beyond, offering more gains to investors.
Suppose the crypto winter (bearish run) becomes unbearable. In that case, there could be a dip in Solana token price (red arrow) and bounce off significant support levels (green lines) at $31.58 and $30, descending to a lower price.
Long-term price action will be determined by the Solana Foundation’s plan for the community amidst this bearish market. However, it is difficult not to see Solana’s exponential growth in future months or years.
Interesting Prospects for Solana
Solana emerged as the fastest-growing cryptocurrency with its high scalability features in 2021. While many had issues with the Ethereum Network over gas fees and congestion issues, Solana reportedly handled 65,000 transactions in a second with an average cost of 0.025 cents.
The decentralized nature of its consensus mechanism, Proof-of-History, allowed Solana to scale properly in the markets coupled with its NFT and DeFi networks, thereby shaking the cores of the crypto community.
Solana Alternatives to Consider: IMPT.io and Tamadoge
With macroeconomic conditions such as tighter crypto regulations and the collapse of stablecoins TerraUSD and LUNA, it is difficult to determine how long the crypto market’s sentiments will change to bullish.
Hence, investors need to diversify their portfolios to gain and invest in other worthy projects that will soon feature before the next bull run. While the world still focuses on Solana, two tokens have surprised the crypto market in their use cases. They are IMPT.io and Tamadoge.
IMPT.io platform’s message is clear – sustaining the environment and reducing carbon emissions in humans’ daily and business activities. By partnering with over 10,000 big brands who share their carbon-offsetting vision, they are connecting individuals and businesses to them to ensure everyone works together to ensure the planet is sustainable and there is a reduction in carbon footprint.
IMPT.io is currently undergoing its presale at $0.018 per IMPT token. Investors who want to participate in this green initiative can buy some IMPT tokens on their official homepage. There are also opportunities they can contribute to ensuring the IMPT.io project is worthwhile, sustainable, and long-term.
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On the other hand, Tamadoge has been headlining on social media since its debut in the crypto market after making a record-breaking presale of about $19 million. Tamadoge provides NFT pets for users to purchase, groom, and develop in a Metaverse game. As these pets develop, they can battle other pets and earn crypto rewards.
The truth is, Tamadoge has provided its early investors over 10x their initial investments after attaining a value of over $0.1 per token in the early days of October 2022. However, new investors can still purchase $TAMA tokens, currently priced at $0.05 and available on leading exchange platforms like OKX, LBank, MEXC, BitMart, and Uniswap.
Apparently, Tamadoge and IMPT.io are still in their embryo stages, and investors can take advantage of this opportunity as crypto experts and fans predict a bullish future for these tokens. These two cryptos are revolutionary in their use cases and utilities, which will ultimately impress the crypto community. As such, they are interesting projects to check out.
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Solana is on many experts’ watchlists, and they are predicting and analyzing based on previous market trends and speculations regarding the platform. It would certainly interest the crypto community to see how it performs before the end of 2022.
Until then, investors can start afresh with IMPT.io and Tamadoge as they are currently low in their respective prices (Presale or exchange), which could give them an incentive to reap gains before the bulls come charging into the market.