Solana ($SOL ) has been a top performer in 2024, largely thanks to its dominance in memecoin trading. But that trend may be losing steam, according to Standard Chartered.
Short-Term Caution
Geoffrey Kendrick, Head of FX and Digital Assets Research at the bank, says Solana’s rise was driven by low fees and fast transactions—perfect for trading memecoins. However, he believes the memecoin boom is slowing, which could drag on growth over the next 2–3 years. As fewer new meme tokens gain traction, activity on Solana might drop before other sectors mature.
Long-Term Potential Remains Strong
Despite the near-term caution, Standard Chartered is optimistic long-term. The bank sees promise in areas like:
DePIN (Decentralized Physical Infrastructure Networks)
Finance and payments
Web3 social apps
These emerging sectors could eventually power the next wave of growth for Solana.
Price Forecast: $500 by 2029
Kendrick predicts SOL could reach $275 by end of 2025 and $500 by 2029,assuming the ecosystem successfully shifts from speculative use to utility-driven applications.
Bottom Line
Solana might lag behind $ETH short-term as the memecoin hype fades, but new sectors could lead to a strong long-term comeback.
