Is Solana Really About to Hit $518? You Won’t Believe What Peter Brandt Says!

Ah, Solana! The cryptocurrency that’s hotter than a summer sidewalk in July. Just when you thought it was safe to ignore the crypto chatter, here comes Q2, and suddenly everyone’s betting on Solana like it’s the last slice of pizza at a party. Polymarket’s odds have skyrocketed from a paltry 15% to a jaw-dropping 40%. Who knew a digital coin could have more ups and downs than a soap opera?

Enter Peter Brandt, the oracle of the trading world, who recently took to X (formerly Twitter, because who doesn’t love a good rebranding?) to share his bullish predictions. He’s aiming for a target of over $500, claiming Solana has formed a “cup and handle” pattern. Sounds like something you’d order at a fancy café, doesn’t it?

Solana Price Prepares For A Bullish Comeback

In a recent tête-à-tête, ARK Invest’s CEO, Cathie Wood, waxed poetic about Solana’s potential. She claims it’s the belle of the crypto ball, thanks to lower costs, a surge in developer interest, and adoption rates that would make even the most jaded investor sit up and take notice. It’s like watching a high school drama unfold, but with more zeros involved.

And let’s not forget the recent Q1 report from Messari, which revealed that the average daily DEX volume grew by a staggering 40.8% QoQ to $4.6 billion. Apparently, memecoins and the TRUMP token launch are the new power couple of the crypto world. Who knew politics could be so profitable?

With all this optimism swirling around, it seems investors are feeling as buoyant as a kid on a trampoline. The SOL price is currently trading at $176, having bounced back 25% from May’s low of $141.5. It’s like watching a phoenix rise from the ashes, but with more charts and fewer feathers.

Now, if Solana can just break through that pesky $182 supply zone and hold on for dear life, we might just witness the next bull run. It’s like waiting for your favorite show to get renewed—exhilarating and nerve-wracking all at once!

As Solana gears up for a comeback, Brandt predicts a cup and handle pattern on the weekly chart, with a neckline near $290. If it breaks out, we could be looking at a target of $518. And if that’s not enough, it might even soar past $700. Talk about a rollercoaster ride!

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Onchain Data Support’s Bullish View on Solana Price

According to the defillama charts, Solana’s Total Value Locked (TVL) almost hit $12 billion in January. But then, like a bad breakup, it plummeted to $6.6 billion in Q1 due to geopolitical drama. Who knew crypto could be so sensitive?

However, in Q2, as sentiment and prices began to rise, its TVL started to recover, reaching $9.314 billion in May. Even user addresses are making a comeback, hitting 5.82 million. It’s like watching a long-lost friend return from a trip abroad.

Meanwhile, the stablecoin market cap continues to rise, standing at $11.518 billion in May. It’s like watching a game of Monopoly where everyone suddenly decides to invest in Boardwalk.

Moreover, the “percent of stablecoin total supply held by whales with over $5 million USD” has risen. Major players are hoarding capital like it’s the last cookie in the jar. They’re poised to make big moves when the time is right, like a cat waiting to pounce on an unsuspecting mouse.

In addition, the social volume of Solana has spiked recently, hinting at a growing awareness of crypto among users. It’s like the cool kids finally inviting you to their party. The increasing social dominance could positively impact Solana’s price, as more participation might just create the demand needed to push it higher.

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2025-05-26 15:39