Fit Solana fit reach $200 for 2024 amid market dynamics and meme coin trends?
As September 2024 don come, Solana (SOL) dey face scrutiny about im potential to reach $200. Recent volatility make SOL dey struggle, but signs of recovery dey show, especially with Solana app 'Pump.fun' wey don generate over $100 million for fees over seven months, wey dey highlight Solana strong ecosystem. Binance new staking service boost SOL price temporarily, but overall sentiment still dey weak, with significant resistance for $160 but potential support from staking activities. Analysts dey warn of possible decline towards $110 if key support break. External factors like possible interest rate changes for US and Europe, and expected SEC approval of Solana-spot ETF fit positively impact SOL price. Plus, the presale of meme coin Mpeppe (MPEPE) attract substantial investor interest, wey reflect strong community backing. The interplay of these factors go dey crucial for determining Solana trajectory towards the $200 milestone.
Neutral
Solana price trajectory dey show signs of recovery with the success of 'Pump.fun' which dey reflect strong ecosystem wey e get. But, resistance wey dey $160 and the possibility for decline reach $110 because market sentiment weak go bring challenges. External factors like possible interest rate changes and possible SEC approval for Solana-spot ETF fit provide upside potential. D strong presale performance of Mpeppe (MPEPE) show say investors dey interested in meme coins. So, current dynamics suggest say e be neutral outlook as upward momentum dey balance bearish pressures.