Solana (SOL) Price Prediction: Will SOL Hit $300 in January 2025?

A couple of asset managers have applied for Solana ETFs, and this cryptocurrency investment is more in the public interest. Now, five companies—Grayscale, VanEck, 21Shares, Bitwise, and Canary Capital—are left pending approval from the US SEC till January 2, 2025.

Solana ETFs in the Pipeline

Several asset managers have filed applications for Solana ETFs, sparking interest in this cryptocurrency investment. Currently, five companies—Grayscale, VanEck, 21Shares, Bitwise, and Canary Capital—await approval from the US SEC, which will be pending until January 2, 2025.

Prediction markets indicate a high probability of approval, with 85% support and 45% opposition to these ETFs. However, regulatory risks remain as the US SEC has classified Solana (SOL) as a security, making it unlikely that applications for non-security ETFs will be approved.

Whale Activity and Market Resurgence

Recent activity by "whales," or large investors, shows they are accumulating Solana (SOL) tokens, anticipating a price rally to $300 by January 2025. This activity coincides with a broader resurgence in interest in Solana, driven by an increase in stablecoins and meme coins.

From December 1, 2024, to January 1, 2025, Solana's stablecoin volume surged by 12.6% to $5.18 billion, with USDC contributing approximately 74% to this total. This influx of stablecoins, coupled with increasing whale buying, is setting the stage for a potential rally in SOL's price.

Moreover, the meme coin market on Solana has also seen substantial growth, boasting a total market capitalization of about $21 billion. Analysts remain optimistic about Solana's future, particularly if a spot ETF is approved, which could further boost investments in the cryptocurrency.

Solana's outlook for 2025 appears promising, fueled by whale interest, stablecoin growth, and memecoin popularity.

SOLUSD Price Trends and Trading Strategies

SOLUSD has corrected after scaling a fresh all-time high and now trades at $207. Immediate support is around $190, and a drop below could lead to targets of $175, $160, or $150. Traders must watch for the crucial near-term resistance at $228; a break could lead to further price increases to $249, $265, or $300. A recommended strategy is to buy on dips around $190, with a stop-loss set at $160 and a target price of $300.