Solana has been one of the crypto market’s standout performers in the past six months.
As we move further into 2024, many investors are looking to forecast where the SOL token could be headed next – and AI model ChatGPT has weighed in with a bold prediction of its own.
Solana’s Price Rally Heats Up
SOL has been on a tear over the past week.
The token now trades around $155 after a 21% rally from last Tuesday’s lows.
This upswing didn’t come out of nowhere, though.
SOL had been flashing major buy signals, like rejecting key support around $128.
Since then, SOL has closed above its 20-day exponential moving average (EMA) on the daily chart – another bullish signal.
The token is also respecting an upward sloping trendline that’s been in play since late January.
Thanks to this wave of momentum, SOL has reclaimed its status as one of the most highly traded crypto assets.
According to CoinMarketCap, SOL is now the 6th most traded token by spot volume across all leading exchanges.
This combination of bullish technicals, strong trading activity, and an increasingly optimistic market backdrop seems to be fueling Solana’s rebound in the past week.
And if this momentum continues, SOL could be poised for even further growth in the weeks and months ahead.
ChatGPT Provides Bullish SOL Price Prediction for 2024
While SOL has already printed some impressive gains in 2024, several catalysts suggest the rally might just be getting started, according to ChatGPT.
In its analysis, ChatGPT pointed to SOL’s current bullish momentum and recent close above the 20-day EMA as strong technical signals.
The AI model sees this as confirming the start of a new uptrend for the high-throughput crypto.
But beyond the chart patterns, ChatGPT highlighted several fundamental factors that could propel SOL to new heights as the year progresses.
Chief among them are Solana’s ongoing upgrades to boost scalability – improvements that could attract more developers to the chain.
ChatGPT also noted the growing meme coin frenzy unfolding on Solana and how viral tokens like BONK have driven up demand for SOL.
Given these technical and fundamental underpinnings, ChatGPT sees plenty of upside for SOL in 2024.
On the conservative end, the AI model predicted SOL could potentially double (or even triple) from current levels, targeting prices between $310 and $465.
But in an ultra-bullish scenario where Solana continues cementing itself as the go-to blockchain for meme coins and DeFi, ChatGPT believes SOL could surge past $500 before the year is through.
Which Other Coins is ChatGPT Bullish On?
While ChatGPT’s outlook for SOL is encouraging, the AI model has also identified other potential gems within the Solana ecosystem.
One of the main ones is the meme coin phenomenon Slothana (SLOTH), which has generated tremendous buzz ahead of its imminent token launch.
ChatGPT Believes New Solana Meme Coin SLOTH Will Explode After DEX Listing Next Week
Slothana is a cheeky new meme coin project inspired by the “office sloth” internet meme.
Despite its tongue-in-cheek visuals, the project has generated incredible hype and raised over $10 million from investors during its ongoing presale phase.
According to ChatGPT, Slothana’s meme-based premise and passionate community support are prime catalysts for a potential price explosion once SLOTH hits the open market next week.
The AI model highlighted how other no-utility meme coins like SLERF and BOME experienced huge rises driven purely by speculation.
If Slothana can tap into that same viral energy and capture the imagination of retail traders, ChatGPT believes its listing price could surge quickly.
Specifically, ChatGPT forecasts SLOTH reaching between $0.031 and $0.046 in the days following its DEX debut.
Should SLOTH reach the upper end of this target range, it would represent gains of 196% for presale investors.
It’s a lofty forecast, to be sure – but well within the realm of possibility, given how past meme coin frenzies have played out.
