Solana Dev Says SOL Undervalued, Aims for $1,000
Solana developer Mert Muntaz challenged the Solana Foundation’s public endorsement rules by claiming that SOL is significantly undervalued and should trade near $1,000. This statement contradicts Vibhu, a mid-tier manager at the Solana Foundation, who said he cannot publicly endorse SOL or suggest price targets. Currently, SOL trades around $141, with a market cap of $77.3 billion. Solana’s DeFi ecosystem remains active, with DEX volumes at $10.89 billion, indicating ongoing capital flows.
In related news, the meme-coin project PepeNode (PEPENODE) has raised over $2.1 million in its mine-to-earn presale. Priced at $0.00115, PEPENODE offers staking rewards up to 597%, ranking it among the most notable crypto presales of 2025.
Bullish
Mert Muntaz’s optimistic $1,000 price target for SOL may boost trader confidence and spark buying interest, reflecting a bullish sentiment. Historical parallels include bullish forecasts by Ethereum developers, which coincided with upward price momentum. In the short term, positive developer endorsements can drive trading volume and price spikes. Long term, SOL’s performance will depend on its ecosystem growth, DeFi activity and broader market trends. Overall, the news tilts toward bullish dynamics for SOL, though traders should monitor fundamentals and market volatility.