Solana dey see growth for long-term holders as price dey correct, analysts dey predict more rallies
Recent developments wey don happen for Solana market go show strong confidence for investors, especially with di plus wey don dey increase for long-term holders even when price don drop recently. According to Glassnode, di new long-term holders wey dey within 6-12 months now don dey control 27% of Solana supply, dis one dey show bullish sentiment as dem dey show less willingness to sell. Meanwhile, di former long-term holders wey enter during di 2021 bull market don reduce dia holdings from 48% to less than 5%, fit mean say dem don finish dem profit-taking phase. Solana trading price na around $219.9, and analysts dey optimistic, dem dey predict more rallies and potential price target of $500 by Q1 2025, according to VanEck. Dis shift for holder demographics fit reduce selling pressure, enhance Solana potential for further gains for di market.
Bullish
Di increase for long-term holders, even with price correction, mean say strong investor confidence dey show and e dey reduce selling pressure, wey fit mean say bullish sentiment dey. E don finish as early investors don take their profit, together with optimistic analyst predictions for significant price gains, e show say Solana go still dey go upwards. History show say when people dey shift to long-term holding, e dey usually come before dem big rallies wey support bullish view for both short-term trading and long-term market potential.