At the start of 2023, Solana faced speculation about its decline but rebounded, briefly surpassing $200 as 2024 approached. Despite significant drops since, some analysts believe the meme coin craze could spark another surge, with a potential bull market on the horizon.

In early 2024, Solana gained attention during the meme coin craze, outperforming most altcoins, though it did not reach its all-time high. Matthew Dixon remained optimistic, stating that Solana could push toward its ATH from local highs. Another analyst, Crypto Feras, noted that SOL has fluctuated between $120 and $190 for over 190 days, with key support levels below.

Solana’s price increased by 2.47% today, reaching $130.47, and its market cap returned to $61 billion, making it the 5th largest cryptocurrency. However, trading volume dropped by 65%, signaling low investor interest.