Last updated:
Junior Content Creator
Harvey Hunter
Junior Content Creator
Harvey Hunter
Share
Why Trust Cryptonews
Over the past 24 hours, the SOL price has seen a substantial 8.99% uptick bolstered by the announcement of their upcoming Seeker smartphone, cited to be “the definitive web3 mobile device.”
Today’s growth pushes Solana further into its recent streak, peaking at a 14% gain since last Friday, positioning it among the top-performing altcoins over this period.
Indeed, with this news trader interest in Solana continues to rise. The altcoin’s trading volume is up 10.56% to $3.29 billion over the past 24 hours.
Seeker Mobile: The Smartphone “Taking Crypto Mobile”
Solana Mobile, the Labs division behind the hardware, unveiled its new Android handheld, “Seeker,” at Token 2049 in Singapore.
With over 140,000 preorders, Seeker represents a significant leap forward for Web3 mobile technology.
Seeker’s main selling point is its potential to provide users with a wide range of crypto-integrated experiences. “We founded Solana Mobile with the mission of taking crypto mobile,” said Solana Co-Founder and Solana Labs CEO Anatoly Yakovenko. He added:
To achieve that, we needed to make Seeker more accessible, more affordable, and for its hardware and software to be even more deeply integrated for Web3.
This strategic move places Solana as a first mover in an industry forecasted to be worth $177.58 billion by 2033, according to Markets.us data. Something that could boost adoption within the Solana ecosystem, recognizing the real-world applications of Web3 technology.
The importance of this was underscored by VanEck executive Matthew Sigel, who cited cryptocurrencies with the “best chance at mass adoption” as a key factor in shaping the market long-term, mentioning Solana particularly.
SOL Price Analysis: Can Seeker Push Solana to $1000?
Upon closer inspection, this news seems to bolster fundamental and technical indicators that reinforce a positive outlook for Solana long-term.
Most significantly, the formation of a cup and handle pattern since late 2021 favors a bullish continuation of Solana’s long-term price appreciation, representing a temporary pause in a prevailing uptrend.
Currently, Solana remains bound within the channel forming the handle, consolidating before its next move, under the weight of the current uncertain market sentiment.
This week’s boost has seen the Relative Strength Index (RSI) breach into positive territory, standing just above neutral. However, the asset still wanes under substantial selling pressure presented by a -0.037 Chaikin Money Flow (CMF).
As the MACD line changes its trajectory, converging towards the Signal line, a continuation of this week’s buying pressure could see the bulls take over in a crossover and lead the next move.
However, a breakout seems much more credible as we approach what is expected to be a monumental catalyst: the US presidential election.
The incoming candidate is expected to shift away from the Biden administration’s criticized stance on cryptocurrency regulation.
This change could create a more favorable environment for the asset class. Importantly, it could reignite hopes for a US Spot Solana Exchange-Traded Fund (ETF), another potential catalyst.
Upon a breakout of this pattern, eyes will be set on new all-time highs with a price target of up to $400.
With mass adoption and other fundamental catalysts stacking in its favor, the SOL price could go much higher, reaching up to $1,000 in 2025.
This Low Cap Gem Has Higher Gains Potential
Although traders may be optimistic about SOL for potential gains, these fundamental catalysts are unlikely to materialize in the near term or quickly.
Traders seeking to enhance their potential gains could benefit from diversifying into smaller-cap coins, which often have the potential for exponential rallies.
Enter Pepe Unchained ($PEPU), a meme coin that transcends conventional utility. It tackles two of the most significant pain points in the current crypto landscape: transaction speeds and fees.
This liberated evolution of Pepe operates on its own Layer 2 chain, freeing itself from Ethereum’s shackles, offering lower fees and 100x faster transaction speeds.
It’s not just a meme coin, it’s a meme chain! Something that may be credited to its instant success, raising over $14 million in its presale so far!
This confidence can also be attributed to Pepe Unchained’s commitment to transparency. It has undergone two audits and features its own block explorer.
At a temporary fixed presale price of $0.00981, those who act quickly stand to benefit the most. Investors are currently earning an impressive 148% APY. This presents a valuable passive income opportunity, even amidst recent market volatility.
Join the Pepe Unchained community on X and Telegram to stay up to date on the latest announcements.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
