50x Signal Arrived for Solana! Analyst Pointed to the Ethereum Price of 2018!

Since the bull run of 2021, many people have come to know Solana by the name "Ethereum killer." Regarded as finished in 2023, Solana rose from the ashes and hosted a move that left the entire cryptocurrency world in awe. Investors have been debating recently whether SOL can deliver impressive returns similar to ETH.

Does Solana Perform Better ?

After the incredible rise from its low point of $9 at the end of 2022 to the beginning of 2023, many experts have started expressing the opinion that several altcoins could surpass Ethereum.

If we believe the statement made by analyst Raoul Pal, SOL may not only remain the favorite of Vitalik Buterin this year but also continue its fantastic ascent. Pal examined the chart of ETH during the bull run that emerged in 2018 and compared it with the current price of Solana, highlighting some similar elements that emerged.

Raoul Pal said these words:

"I'm comparing the chart of ETH from 2018 with Solana's chart, and they're almost identical. ETH surged 47 times from this low point.

Therefore, some analysts suggest that, similar to the rise in ETH price from the post-2018 lows, SOL could also potentially surge up to 50x."

Solana or Ethereum ?

All experts have reached a consensus on one point. While Ethereum offers infinite options for creating projects, Solana attracts attention with its closed system that knows how to maintain loyalty within its community. More importantly, the Solana network has much lower gas fees compared to Ethereum.

Crypto investor Marc Colcer made a statement on X (Twitter):

"Everyone wants their wallets, NFTs, meme coins, etc., to increase in value. It's easy to support when prices are rising; it's harder when there's a 50% drop. However, communities that don't give up will always be the most successful.

Take the Solana community, for example. They never gave up, and look at how the past year went for them. A community that collaborates and progresses independently of price movements creates a real impact. It's hard to stop that.

I won't even mention the expectation of a Bitcoin bull run. An altcoin season follows when Bitcoin rises. SOL, for instance, has already increased approximately 15 times compared to its low point."

However, some also mention that reaching the levels discussed for the SOL token might be challenging due to the inflation it faces. In 2021, when Solana reached its all-time high (ATH), its market value was over $75 billion. As of today, it would need an approximate market value of $111 billion to reach the all-time high of $260.