A renowned crypto trader has predicted that Solana, a major competitor to Ethereum, is on the verge of surpassing its previous all-time high. This view was shared with Sherpa’s large social media following, where he also expressed optimism about the memecoin Goatseus Maximus (GOAT).
What’s Driving Solana’s Projected Growth?
Sherpa attributes Solana’s potential price increase to strong network engagement observed in recent weeks. He expressed confidence in Solana’s ability to strengthen its market position, stating:
“SOL: This coin is certainly going to surpass its all-time high, and this is foreseeable when looking at on-chain activities over the past two weeks.”
Currently, Solana is trading at $174 and needs to rise over 49% to break the peak of $260 reached in November 2021.
Is GOAT Memecoin a Smart Investment?
The memecoin Goatseus Maximus has surged approximately 15 times in recent weeks. Sherpa predicts its fully diluted valuation could reach $1 billion, signaling a 50% increase from its current valuation of $667.8 million. He advises early investors to consider securing profits due to potential volatility:
“If you’re in early, taking some profits on Binance futures might be wise. This situation is likely to generate high volatility and a lot of uncertainty.”
GOAT’s current trading price is $0.694. Its listing as a perpetual contract on Binance could lead to significant market fluctuations, creating trading opportunities while also raising uncertainties about the memecoin’s future.
The combination of increased network engagement for Solana and active trading of GOAT suggests that traders should remain alert and adjust their strategies as these developments unfold.
