From an impressive climb to a high of around $256 in today’s trading session, Solana’s journey in recent weeks signals the possibility of sustained growth—especially as fresh developments hint at deeper institutional and political backing.

Solana’s recent upswing has drawn parallels to its earlier trajectory when tokens like BONK captured attention and propelled network activity.

Donald Trump Support

Donald Trump, the current U.S. President, recently stated his intention to potentially add Solana and XRP to the nation’s strategic reserve, noting that it’s “only a ‘maybe’ right now,” yet enough of a signal to drive excitement around SOL.

Meanwhile, venture capitalist David Sacks, known for his strong endorsement of the blockchain, has taken on a role as a crypto advisor in the Trump administration. Sacks has publicly championed the promise of Solana’s technology, underscoring its high throughput capabilities and robust developer community.

Source: David Sacks Repost

Beyond these endorsements, Solana’s fundamentals appear robust. The network has witnessed a surge in usage and developer activity over the past year, reinforced by surging stablecoin inflows exceeding $3.5 billion in just ten days.

The token has rebounded from minor corrections and maintains substantial spot trading volumes that reached $10 billion in the last 24 hours. Simultaneously, the open interest in SOL futures has climbed to $4.1 billion, reflecting traders’ continued faith in the token’s upward trajectory.

Solana’s Next Potential Milestones

As SOL hovers around the $265 mark—a point that mirrors Wednesday’s levels—investors are weighing a range of factors that could spur further appreciation. Market sentiment remains optimistic about a possible Solana ETF, which, if approved, might further amplify institutional participation.

Upgrades like “Firedancer” have also positioned Solana to potentially scale to one million transactions per second, fueling speculation that the network’s tech evolution could sustain its bullish run.

Predicting short-term price action for Solana becomes an exercise in carefully monitoring sentiment. With spot volumes outpacing competing large-cap cryptos like XRP, the token is demonstrating considerable market demand.

Should retail and institutional support persist, analysts see the $300 to $350 range as a realistic target in the weeks ahead. Nevertheless, intermittent profit-taking is always a possibility, particularly for those early adopters who accumulated SOL when prices sat below $200.