Solana Surges 40% to Hit 2023 High, Analyst Predicts Potential Rally to $1,000
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Solana has surged 40% in the past week to hit a new 2023 high around $58. Analyst Jacob Canfield predicts it could reach $1,000 per coin.
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Canfield suggests Solana's market dominance could increase to 12-15% from its previous peak of 3%. Its continued uptrend against Bitcoin could drive the price surge.
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Factors fueling Solana’s gains include the crypto market uptrend, excitement around Bitcoin ETFs, and investors' increasing risk appetite.
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The price increase coincides with FTX bankruptcy estate's daily selling of 250k-750k SOL tokens over two weeks.
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If SHIB hits 1 cent, investing $1M in Shiba Inu today could yield massive profits, according to one analyst's predictions.